Islamic Banks operating in Indonesia

Islamic banks in Indonesia started since 1990. For the first time the Indonesian Ulema Council conduct workshops on bank interest in Bogor 18-20 August 1990. The results of the workshop will be taken to the National Congress of the Indonesian Ulema Council 22 to 25 August 1990 in Jakarta. Read More: History of Islamic Banking in Indonesia

In the development of Islamic Banking in Indonesia begins with the establishment of Bank Muamalat Indonesia in 1992, supported by the Association of Indonesian Muslim Intellectuals. Progress Bank Muamalat in Indonesia have ups and downs. When the economic crisis hit the Indonesian nation, Bank Muamalat is the only Islamic bank based in Indonesia not affected escape from the economic crisis in Indonesia.

In the year 1999 was good news issued by the Indonesian government in the regulation of banks. Law No.23/1999 the embryo growing Islamic Bank in Indonesia to 2008, Islamic banks have their own rules to ensure the certainty of the players in the banking sector as stipulated in Law no. 21/2008

The development of Islamic banks can be seen in the table below, there are 11 Islamic Banks in Indonesia since 1999, this indicates that Islamic banks have been received in the premises.

Hopefully with the increase in Islamic Banks in Indonesia can enhance economic growth in the country

Table 1

 BUS which operates in Indonesia

Name of Bank	Date of Operate
Muamalat Bank Indonesia	1 May 1992
Syariah Mandiri Bank	1 November 1999
BNI Syariah	29 April 2000
Mega Syariah Bank	25 Augustus 2004
Syariah Bukopin Bank	11 December 2008
BRI Syariah Bank	1 January 2009
Panin Syariah Bank	1 December 2009
Victoria Syariah Bank	1 April 2010
BCA Syariah	5 April 2010
Jabar Banten Bank	6 Mei 2010
Maybank Syariah	October 2010