Toward Sustainable Growth in Indonesian Islamic Banking: A Study from Academicians View

Abstract

The existing current research related approach and the relationship between Islamic banking and finance development and stakeholders’ responsibility very interested and attracted some researcher, one of them was stated that government, Islamic mass organization, NGO’s, Islamic shofars, and Political institution and vision have a significant role, however, they did not prepare deep discussion in more detail related to what extend the role and action each stakeholders involved in the Islamic banking and finance movement and what is the most important stakeholder to address with the issues. It is therefore the study aims to prepare a research to what extend the role and responsibility of each stakeholders involved toward sustainable Islamic financial phase which has been established by OJK (Indonesian Authority of Financial services) agency. A qualitative analysis by using existing literature and the risen idea as well as academician’s opinions was used in the study. The result revealed that the Islamic scholars and Islamic mass organization should be proactive and have the crucial determinant role and position. Besides that, government should change the political strategy to the core position and produce political support by facilitating some Acts. Besides that, government and politician in the parliament should establish the new strategy namely Indonesia as central (hub) of global Islamic banking and finance. However, in the preliminary level, educating people and socialization is the most appropriate action by involving higher education institutions, scholars, academicians and IBF activists.