February 25, 2009

New Delhi, India - According to a recent research report, “Indonesian Islamic Banking Outlook to 2013” by RNCOS, a leading research firm, with the government support and improving consumer confidence on the Sharia-compliant financial products, the deposits with the system are expected to grow at a strong CAGR of nearly 47% between 2009 and 2013.

The government representative, Central Bank of Indonesia, is following a blueprint for Islamic Banking Development aimed at creating a strong Islamic banking industry by 2015. Under the blueprint, development of the industry will focus on laying strong foundation for prudential provision and supervision; increasing the efficiency of Islamic banking, with the support of a secure and efficient Islamic financial market.