The data analysis uses a qualitative descriptive approach. Furthermore, an analysis of the possibility of adopting the Shariah Governance Framework (SGF) of Bank Negara Malaysia (BNM) is based on the perceptions of experts, using 3 research samples, namely Bank Syariah Mandiri, BPD DIY Sharia Business Unit, and BPRS Bhakti Sumekar. This study aims to evaluate Sharia governance infrastructure in Sharia banking in Indonesia, specifically the Sharia review phase by the Sharia Supervisory Board which was disclosed in the Sharia bank annual report. Moreover, theĭevelopment of Islamic financial instruments has to comply with Sharia Increase the velocity of economic activities by creating instruments that canĪbsorb potential investments and channel them to the real sector. Development of Islamic financial instruments should focus on Monetary management are not different from the instruments for liquidity Islamic financial system does not dichotomize monetary and real sectors with theįocus on productive activities in the real sector. Indonesia has become the best system in Southeast Asia with 33% share of profit Paradigms, i.e.: 1) Market driven 2) Fair treatment 3) Gradual and sustainableĪpproach and 4) Comply to Sharia principles. Meanwhile, the strategy adopted by Indonesia focused on four The Islamic financial system in Malaysia has evolved as a viable andĬompetitive component of the overall financial system with 9% share of banking

Implementing pragmatic and gradual developmental approach directed by the The strategy adopted by Malaysia has been to develop a comprehensive Islamicįinancial system that operates in parallel with the conventional system by (madzhab) 3) Legal framework and 4) Development approach. System of the country 2) Adhearance to a certain Sharia school of thought Specific characteristics due to different environment, such as: 1) The economic However, Islamic banking in one country may have some different or The uniqueness of Islamic banking operation, such as the products and services Islamic banking in any country has some general similar characteistics that show

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