BI to introduce Sharia Banking Committee

Bank Indonesia intends to develop Sharia Banking Committee (KPS) as the regulatory body for sharia banks.

The KPS will have the authority to develop regulations on sharia banking, Bisnis Indonesia reported.

The Executive Chairmen of DSN MUI Ma'ruf Amin said the establishment of KPS was a common decision of Bank Indonesia and DSN MUI at a closed door meeting this month.

"KPS has put an end to the dispute on the replacement of DSN-MUI with Fatwa Committee of Bank Indonesia," he was quoted by Bisni