Bank Indonesia to Set up Sharia Banking Committee

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JAKARTA, July 14 Asia Pulse - Bank Indonesia will set up a sharia banking committee next month to implement the newly-passed Sharia Banking Law.

Sharia Banking Director Ramzi A Zuhdi said the central bank was still discussing details about the plan to set up the committee.

The committee will be made up of 11 members, including two officials of the central bank and nine academics or professionals.

The government hopes to boost sharia banking development and attract more investment from the Middle East, with the passing into law earlier his year of the sharia banking law.

By May 2008, sharia banks in the country had assets valued at Rp41.08 trillion ($US4.52 billion), the newspaper Investor Daily said.

(ANTARA)

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