Sharia banks` assets reach Rp331 trillion

Medan, N Sumatra (ANTARA News) - The total assets of the Indonesian sharia banking industry in the third quarter of 2016 reached Rp331 trillion, accounting for 5.13 percent of the national banking industrys assets.

"The figure outstrips the target set by OJK (Financial Service Authority) at 5 percent," Chief of OJK Regional Office in Northern Sumatra Lukdir Gultom said at a campaign "I Love Sharia Compliant Finance (ACKS)" here on Sunday.

By campaigning for sharia compliant finance continuously, the public will increasingly be acquainted with and love sharia financial products and services and that the sharia banking industry will grow at a faster pace, he said.

OJK continued to encourage the sharia compliant financial service industry covering banks, non-bank financial institutions and the capital market.

"To date, Indonesia has a total of 13 sharia commercial banks, 21 sharia business units, and 165 sharia rural banks. We will try to increase their number," he said.

Chief of the Financial Bureau of the North Sumatra Provincial Government Agus Triyono said the sharia banking industry has now offered products and services as good, complete and modern as conventional financial products and services.

"North Sumatra whose majority of population are Muslim has the potential to become a hub for national sharia banking industry," he said.(*)

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