Law of the Republic of Indonesian Resources 21 of 2008 Banking on Sharia
Law of the Republic of Indonesia
Number 21 of 2008
ABOUT
Islamic banking
BY THE GRACE OF GOD ALMIGHTY
President of the Republic of Indonesia,
Weigh:
a. That in line with the purpose of Indonesia's national development to achieve the creation of a just and prosperous society based on economic democracy, an economic system is developed based on the values of justice, togetherness, equity, and appropriate benefits
with sharia principles;
b. that the needs of Indonesian people for Islamic banking services are increasing;
c. that Islamic banking has specificity compared to conventional banking;
d. that the regulation regarding Islamic banking in Law Number 7 of 1992 concerning Banking as amended by Law Number 10
1998 is not yet specific so it needs to be specially regulated in a separate law;
e. that based on the considerations as referred to in letter a, letter b, letter c, and letter d it is necessary to form a law on Islamic banking;
Remember:
1. Article 20 and Article 33 of the 1945 Constitution of the Republic of Indonesia;
2. Law Number 7 of 1992 concerning Banking (State Gazette of the Republic of Indonesia of 1992 Number 31, Supplement to the State Gazette of the Republic of Indonesia Number 3472) as amended by Law Number 10
1998 (State Gazette of the Republic of Indonesia Year 1998 Number 182, Supplement to the State Gazette of the Republic
Indonesia Number 3790);
3. Law Number 23 of 1999 concerning Bank
Indonesia (State Gazette of the Republic of Indonesia in 1999
Number 66, Supplement to the State Gazette of the Republic of Indonesia Number 3843) as amended by Law Number 3 of 2004 (State Gazette of the Republic of Indonesia of 2004 Number 7, Supplement to the State Gazette of the Republic of Indonesia Number 4357);
4
5. Law Number 40 of 2007 concerning Limited Liability Companies (State Gazette of the Republic of Indonesia of 2007 Number 106, Supplement
Number 4756);
With mutual agreement
The House of Representatives of the Republic of Indonesia
And
President of the Republic of Indonesia
DECIDE:
To stipulate: Law on Islamic Banking.
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