INDONESIA ISLAMIC LOAN

INDONESIA HALAL FUNDING LOAN INDONESIAN ISLAMIC BANK

In Indonesia, an Islamic loan a by definition an ethical funding solution that is granted by halal Indonesian financial institutions and Islamic lenders to an Indonesian Muslim borrower who aspire to apply to their finance transactions the principle of the Islamic Sharia.

In Indonesia, an Islamic loan or halal funding consists of a form of lending made according to Islamic law (Sharia), which forbids the use of interest, making an Islamic loan an interest-free loan, but through the halal structure of a financing transaction a borrower will be charged via a profit fee.

In Indonesia, a halal loan is granted under Islamic finance law that views lending with interest as a facility that only favors the lender when charging interests at the expense of the Indonesian borrower and Sharia considers that a lender should not be able to receive income from money in form of interest.

In Indonesia, an islamic loan is provided by a large number of Islamic banks applying Sharia-compliant finance which consists of profit banking in which the financial institution shares in the profit and loss of the Indonesian borrower or enterprise that underwrites an Islamic lending facility.

In Indonesia, Shariah compliant finance contributes for only 4.5% of total banking sector, however Indonesia has 15 fully Islamic compliant banks, 25 Islamic banking units asw well as 200 Shariah-compliant rural banks.

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