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Creating a pricing benchmark for the Islamic banking industry in Indonesia

Feb 22, 2015

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Creating a pricing benchmark for the Islamic banking industry in Indonesia

By Farouk Abdullah Alwyni

The research team of the Shariah banking directorate of the central bank, Bank Indonesia is now working to create a real sector index. The index will have 11 real sector indices covering agriculture, mining, property, industry and services. The objective of the index is to bring the pricing practice of the Islamic banking industry to really refl ect the spirit of Shariah, which prohibits interest (Riba), while allowing trade.