Islamic Financial Institution is Not Ready with Net Income Profit Sharing Concept

Senin, 17 November 2008

Jakarta, 17/11. Islamic financial institutions (IFI's) in Indonesia are not ready with the concept of net profit sharing ratio of their shariah products based on the profit sharing principle. At the moment, the profit sharing ratio of IFI's in Indonesia is still using the concept of revenue sharing, or gross profit income, as explained by Hanawijaya, the Director of Bank Syariah Mandiri, at the luncheon of Annual meeting of the Nantional Shariah Board, last Saturday, November 15, at Taman Impian Jaya Ancol Jakarta.
The National Shariah Board has been recommended that IFI's should apply the net income profit sharing instead of the gross profit.

In respond to the National Shariah Board recommendation, Hana said that if it is become an obligatory to apply the net income profit sharing for IFI's , we are not ready since we are still lacking of the human capital and ICT. Therefore, he recommended that there is a necessary to adjust the infrastructure in creating the new system of IFI.

On the other hands, Hana wished that the collaboration between the National Shariah Board and the Islamic Bankers could be improved, and Hana hopes that the National Shariah Board could continuously monitoring the activity of Islamic bankers to ensure that IFI operation is shariah Compliant.

([hsn/Nibra www.pkesinteraktif.com]