POTENSI BISNIS PERBANKAN SYARIAH INDONESIA TAHUN 2024: PELUANG DAN TANTANGAN
DOI:
https://doi.org/10.34127/jrlab.v13i1.945Abstract
This study analyzes the growth outlook, opportunities, and challenges for Islamic banking in Indonesia approaching the 2024 vision to become the global Islamic economic hub. Despite positive historical trends, research comprehensively examining medium-term projections across key metrics and strategic policy implications is limited. This paper addresses the gap through qualitative interviews with experts to forecast growth in assets, financing, and customers by 2024. High potentials in untapped markets are weighed against challenges in accelerating digital transformation and reforms needed in regulation, technology, and human resources. Key recommendations will be presented for regulators and industry players to optimize growth momentum amidst Indonesia’s Islamic economy goals. The results are expected to enrich academic literature and provide regulators and practitioners strategic inputs to strengthen policies, infrastructure, capabilities, and market access. Further quantitative research can build upon these findings for deeper projections and insights forward. Keywords: Islamic banking, Islamic finance, prospects, challenges, policy, IndonesiaReferences
Abduh, M., & Azmi Omar, M. (2012). Islamic banking and economic growth: the Indonesian experience. International Journal of Islamic and Middle Eastern Finance and Management, 5(1), 35–47. https://doi.org/10.1108/17538391211216811
Adewale, A. A., & Ismal, Ri. (2020). IFSB Working Paper Series-Digital Transformation in Islamic Banking (Issue December). http://www.ifsb.org/docs/WP-03-Consumer Protection(final).pdf
Afandi, M. A., & Amin, M. (2019). Islamic Bank Financing and Its Effects on Economic Growth: A Cross Province Analysis. Signifikan: Jurnal Ilmu Ekonomi, 8(2), 243–250. https://doi.org/10.15408/sjie.v8i2.10977
Afif, M., & Samsuri, A. (2022). Integration of Fintech and Islamic Banking in Indonesia: Opportunities and Challenges. Cakrawala: Jurnal Studi Islam, 17(1), 27–38. https://doi.org/10.31603/cakrawala.7051
Agur, I., Peria, S. M., & Rochon, C. (2020). Digital Financial Services and the Pandemic : Opportunities and Risks for Emerging and Developing Economies. International Monetary Fund, 52(5), 1–13. https://www.imf.org/~/media/Files/Publications/covid19-special-notes/en-special-series-on-covid-19-digital-financial-services-and-the-pandemic.ashx?la=en&utm_medium=email&utm_source=govdelivery
Ahmed, U., Sudevan, S., & Fida, B. A. (2021). Potential of Financial Technology in Transformation of Islamic Banking Sector in Oman. International Journal of Engineering and Advanced Technology, 10(5), 399–402. https://doi.org/10.35940/ijeat.e2896.0610521
Akhter, S. (2022). Key Informants’ Interviews BT - Principles of Social Research Methodology (M. R. Islam, N. A. Khan, & R. Baikady (eds.); pp. 389–403). Springer Nature Singapore. https://doi.org/10.1007/978-981-19-5441-2_27
Alam, N., & Rizvi, S. A. R. (2017). Empirical Research in Islamic Banking: Past, Present, and Future BT - Islamic Banking : Growth, Stability and Inclusion (N. Alam & S. A. R. Rizvi (eds.); pp. 1–13). Springer International Publishing. https://doi.org/10.1007/978-3-319-45910-3_1
Allaymoun, M. H., Qaradh, S., Salman, M., & Hasan, M. (2023). Big Data Analysis and Data Visualization to Help Make a Decision - Islamic Banks Case Study. In B. Alareeni & A. Hamdan (Eds.), Springer link (pp. 54–63). Springer International Publishing.
Ascarya. (2013). The Persistent Lack of Profit-And-Loss Sharing Financing in Indonesia’s Islamic Banks. International Journal of Islamic and Middle Eastern Finance and Management, April 2013, 1–29.
Ashfahany, A. El, & Lestari, N. (2023). Optimizing Cash Waqf and Cash Waqf Linked Sukuk : The Role of Nazhir and The Strategies. Iqtishadia, 15(2), 171. https://doi.org/10.21043/iqtishadia.v15i2.16353
Ashraf, D. (2023). Digital Finance and Artificial Intelligence: Islamic Finance Challenges and Prospects BT - Islamic Finance, FinTech, and the Road to Sustainability: Reframing the Approach in the Post-Pandemic Era (Z. H. Jumat, S. Hafiz Khateeb, & S. Nazim Ali (eds.); pp. 241–258). Springer International Publishing. https://doi.org/10.1007/978-3-031-13302-2_11
Asyari, Hoque, M. E., Hassan, M. K., Susanto, P., Jannat, T., & Mamun, A. Al. (2022). Millennial Generation’s Islamic Banking Behavioral Intention: The Moderating Role of Profit-Loss Sharing, Perceived Financial Risk, Knowledge of Riba, and Marketing Relationship. Journal of Risk and Financial Management, 15(12). https://doi.org/10.3390/jrfm15120590
Baidhowi, B. (2018). Sharia Banking Opportunities and Challenges in the Digital Era. Proceedings of the 1st International Conference on Indonesian Legal Studies (ICILS 2018), 157–161. https://doi.org/10.2991/icils-18.2018.30
Bakry, M., Masse, R. A., Arake, L., Amiruddin, M. M., & Syatar, A. (2021). How to attract millennials? Indonesian sharia banking opportunities. WSEAS Transactions on Business and Economics, 18(February), 376–385. https://doi.org/10.37394/23207.2021.18.38
Beck, T., Demirgüç-Kunt, A., & Merrouche, O. (2013). Islamic vs. conventional banking: Business model, efficiency and stability. Journal of Banking and Finance, 37(2), 433–447. https://doi.org/10.1016/j.jbankfin.2012.09.016
Beseiso, F. H. (2014). The Developing Role of Islamic Banking and Finance: From Local to Global Perspectives. In The Developing Role of Islamic Banking and Finance: From Local to Global Perspectives (Vol. 95, p. i). Emerald Group Publishing Limited. https://doi.org/10.1108/S1569-3759(2014)0000095001
Bonheure, K., & Gantès, G. de. (2021). Indonesia and Islamic banking: An interview with Hery Gunardi. Mckinsey.Com. https://www.mckinsey.com/capabilities/m-and-a/our-insights/indonesia-and-islamic-banking-an-interview-with-hery-gunardi#/
Broby, D. (2021). Financial technology and the future of banking. Financial Innovation, 7(1). https://doi.org/10.1186/s40854-021-00264-y
Chowdhury, M. A. M., & Haron, R. (2021). The efficiency of Islamic Banks in the Southeast Asia (SEA) Region. Future Business Journal, 7(1), 1–16. https://doi.org/10.1186/s43093-021-00062-z
Dewa, N., & Zakaria, S. (2012). Training and Development of Human Capital in Islamic Banking Industry. Journal of Islamic Economics, Banking and Finance, 8(1), 95–108.
Echchabi, A., & Abd. Aziz, H. (2014). issues in Islamic banking: a qualitative survey in Malaysia. Qualitative Research in Financial Markets, 6(2), 198–210. https://doi.org/10.1108/QRFM-12-2012-0035
Fadillah, A. Z. (2021). Acceleration of Financial Technology Growth towards Inclusiveness of Unbankable Society in Achieving the Vision of the Islamic Banking Roadmap 2020-2025 (Case Study: Generation Z, Jabodetabek). Airlangga International Journal of Islamic Economics and Finance, 4(2), 158. https://doi.org/10.20473/aijief.v4i2.31434
Firmansyah, E. A., & Anwar, M. (2019). Islamic Financial Technology (Fintech): Its Challenges and Prospect. 216(Assdg 2018), 52–58. https://doi.org/10.2991/assdg-18.2019.5
Fitriasari, F. (2013). the Growth of Islamic Banking in Indonesia. Jurnal Ekonomika Bisnis, 03(01), 1–10. https://doi.org/10.22219/jekobisnis.v3i1.2222
Furqani, H., & Mulyany, R. (2009). Islamic banking and economic growth: Empirical evidence from Malaysia. Journal of Economic Cooperation and Development, 30(2), 59–74.
Hadi, N. H., & Fatihin, M. K. (2020). Determinants of Sharia Banking Market Share Growth in Indonesia. Airlangga International Journal of Islamic Economics and Finance, 1(2), 87. https://doi.org/10.20473/aijief.v1i2.20805
Hakim, F. (2020). The Influence of Non-Performing Loan and Loan to Deposit Ratio on the Level of Conventional Bank Health in Indonesia. Arthatama Journal of Business Management and Accounting, 1(1), 35–49. https://arthatamajournal.co.id/index.php/home/article/view/9/6
Hartanto, A., & Fatwa, N. (2020). the Geostrategy of Sharia Banking Merger in Indonesia. Scientific Research Journal, 8(12), 60–66. https://doi.org/10.31364/scirj/v8.i12.2020.p1220829
Hassan, M. K., & Muneeza, A. (2022). COVID-19 and Islamic Finance. In Cambridge Element. Cambridge University Press. https://doi.org/DOI: 10.1017/9781009189484
IFSB. (2018). THE CORE PRINCIPLES FOR ISLAMIC FINANCE REGULATIONS AND ASSESSMENT METHODOLOGY (Issue September).
Ilias, S. (2010). Islamic Finance : Overview and Policy. Congressional Research Service, 1–6.
IMF. (2018). The Core Principles for Islamic Finance Regulations and Assessment Methodology. Policy Papers, 18(028), 1. https://doi.org/10.5089/9781498308496.007
Interview. (2023a). Interview with Abi Lesmana Head Of Main Branch of Bank Syariah Indonesia Kebon Jeruk (Issue September).
Interview. (2023b). Interview with Riza Eko Suswanto, SME Specialist, Permata Bank Syariah (Issue September).
Islam, M. N., & Islam, M. S. (2020). Data Collection and Analysis BT - Islam and Democracy in South Asia: The Case of Bangladesh (M. N. Islam & M. S. Islam (eds.); pp. 49–65). Springer International Publishing. https://doi.org/10.1007/978-3-030-42909-6_3
Iswanaji, C. (2018). Challenges inhibiting Islamic banking growth in Indonesia using the Analytical Hierarchy Process. Journal of Islamic Economics Lariba, 4(2), 97–107.
Kadi, S. (2023). The Future of Islamic Banking and Finance in Indonesia. The Future of Islamic Banking and Finance in Indonesia, 11(2), 1–19. https://doi.org/10.4324/9781003393986
Kammer, A., Norat, M., Pinon, M., Prasad, A., Towe, C., & Zeidane, Z. (2015). Islamic Finance: Opportunities, Challenges, and Policy Options. Staff Discussion Notes, 15(5), 1. https://doi.org/10.5089/9781498325035.006
Kartika, R., & Maulidya, F. K. (2021). Determinants of Muslim Customers’ Preferences towards Islamic Banks Products and Services. Jurnal Manajemen Stratejik Dan Simulasi Bisnis, 2(2), 1–21. https://doi.org/10.25077/mssb.2.2.1-21.2021
Kementrian PPN/Bappenas. (2016). Masterplan for Indonesian Islamic Financial Architecture (Issue August).
Khan, M. A., AfaqHaider, M., Haider Hashmi, S., & Atif Khan, M. (2017). Islamic Finance Service Industry and Contemporary Challenges: A Literature Outlook (1987-2016). Marketing and Branding Research, 4(4), 310–321. https://doi.org/10.33844/mbr.2017.60249
Khan, S. M., Ali, M., Puah, C.-H., Amin, H., & Mubarak, M. S. (2023). Islamic bank customer satisfaction, trust, loyalty and word of mouth: the CREATOR model. Journal of Islamic Accounting and Business Research, 14(5), 740–766. https://doi.org/10.1108/JIABR-01-2022-0017
Ledhem, M. A., & Mekidiche, M. (2020). Economic growth and financial performance of Islamic banks: a CAMELS approach. Islamic Economic Studies, 28(1), 47–62. https://doi.org/10.1108/ies-05-2020-0016
Malini, H., & Putri, A. N. (2020). Islamic banking competitiveness in indonesia. Sriwijaya International Journal of Dynamiceconomics and Business, 4(3), 241–252.
Marlina, L., Rusydiana, A. S., Hidayat, P., & Firdaus, N. (2021). Twenty Years of Islamic Banking in Indonesia: a Biblioshiny Application. Library Philosophy and Practice, 2021, 1–22.
Milawati, ., & Indartono, S. (2020). Indonesian Islamic Banking Innovation Strategy in the Digital Economy Era. Unicees 2018, 661–666. https://doi.org/10.5220/0009511706610666
Nastiti, N. D., & Kasri, R. A. (2019). The role of banking regulation in the development of Islamic banking financing in Indonesia. International Journal of Islamic and Middle Eastern Finance and Management, 12(5), 643–662. https://doi.org/10.1108/IMEFM-10-2018-0365
Octaviano, A., & Winarto, Y. (2023). Aset Perbankan Syariah Tumbuh 15,63% di 2022, Lampau Perbankan Konvensional. Kontan.Co.Id. https://keuangan.kontan.co.id/news/aset-perbankan-syariah-tumbuh-1563-di-2022-lampau-perbankan-konvensional
OJK. (2007). ARSITEKTUR PERBANKAN INDONESIA. OJK. https://ojk.go.id/id/kanal/perbankan/arsitektur-perbankan-indonesia/Pages/Struktur-Perbankan.aspx
OJK. (2020). Indonesia Islamic Banking Development Roadmap.
OJK. (2021). 2021 – 2025 National Strategy on Indonesian Financial Literacy 1.
OJK. (2023). Statistik Perbankan Syariah - Mei 2023. Https://Ojk.Go.Id/Id/Kanal/Syariah/Data-Dan-Statistik/Statistik-Perbankan-Syariah/Documents/Pages/Statistik-Perbankan-Syariah---Mei-2023/STATISTIK%20PERBANKAN%20SYARIAH%20-%20MEI%202023.Pdf, 1–104.
Ratnasari, R. H. (2020). Understanding the Islamic Banking System in Indonesian Modern Economics Practices. Journal of Business, Economics & Management, 3(1), 212–218. https://doi.org/10.31295/ijbem.v3n1.197
Riza, A. F. (2019). Customer acceptance of digital banking in Islamic bank: Study on millennial generation. Conference on Islamic Management, Accounting, and Economics (CIMAE) Proceeding, 2, 66–74.
Rizvi, S. A. R., Narayan, P. K., Sakti, A., & Syarifuddin, F. (2020). Role of Islamic banks in Indonesian banking industry: an empirical exploration. Pacific Basin Finance Journal, 62(October 2018), 101117. https://doi.org/10.1016/j.pacfin.2019.02.002
Santoso, S. B., & Astuti, H. J. (2019). A framework for conceptualizing islamic bank socialization in Indonesia. Journal of Critical Reviews, 6(4), 43–47. https://doi.org/10.22159/jcr.06.04.08
Shamsudheen, S. V., Mahomed, Z., & Mohamad, S. (2021). Reconciling selection criteria of Islamic banking services: a survey on perception of Islamic bankers, institutional clients and retail customers in UAE. Journal of Islamic Accounting and Business Research, 12(1), 112–130. https://doi.org/10.1108/JIABR-12-2019-0251
Sidaoui, M., Ben Bouheni, F., Arslankhuyag, Z., & Mian, S. (2022). Fintech and Islamic banking growth: new evidence. The Journal of Risk Finance, 23(5), 535–557. https://doi.org/10.1108/JRF-03-2022-0049
Sole, J. (2007). Introducing Islamic Banks Into Coventional Banking Systems. IMF Working Papers, 07(175), 1. https://doi.org/10.5089/9781451867398.001
UNSD. (2017). SNA Treatment of Islamic Windows of Conventional Banks (Issue August). https://unstats.un.org/unsd/nationalaccount/RAmeetings/TFOct2017/IF_Windows_UNSD.PDF
Utama, A. S. (2018). Abstract: History and Development of Islamic Banking Regulations in the National. Al-‘Adalah, 15(1), 1–14. http://dx.doi.org/10.24042/adalah.v%25vi%25i.2446
Walfajri, M., & Dewi, H. K. (2022). Pertumbuhan Bisnis Industri Bank Syariah Lebih Tinggi dibandingkan Bank Konvensional. Kontan.Co.Id. https://keuangan.kontan.co.id/news/pertumbuhan-bisnis-industri-bank-syariah-lebih-tinggi-dibandingkan-bank-konvensional
Yudaruddin, R. (2023). Financial technology and performance in Islamic and conventional banks. Journal of Islamic Accounting and Business Research, 14(1), 100–116. https://doi.org/10.1108/JIABR-03-2022-0070
Zaini, F., Bin Shuib, D. M. S., & bin Ahmad, D. M. (2019). the Prospect of Sharia Banking in Indonesia (Opportunities, Challenges and Solutions). International Journal of Business Management and Economic Review, 02(04), 01–14. https://doi.org/10.35409/ijbmer.2019.2401
Downloads
Published
Issue
Section
License
Jurnal Lentera Bisnis disebarluaskan di bawah Lisensi Creative Commons Atribusi-BerbagiSerupa 4.0 Internasional.
Berdasarkan ciptaan pada https://plj.ac.id/ojs/index.php/jrlab
