HOUSE PASSES SHARIA BANKING BILL INTO LAW

Jakarta, June 17 (ANTARA) - The House of Representatives (DPR) on Tuesday passed a sharia banking bill into law, paving the way for the government to ensure legal certainty in running the sharia banking industry in the country.
The passage of the bill into law came after all 10 House factions and the government gave their final views at a plenary session led by House Speaker Agung Laksono.
Nine House factions favored the passage of the bill into law while one faction, the Peace and Prosperity Party (PDS), rejected it.
Spokesman for the Indonesian Democratic Party-Struggle (PDIP) faction Tukidjo expressed hope the sharia banking industry as an alternative to the conventional banking system would encourage the real sector.
"That's why the sharia banking industry needs special rulings. The rulings must accommodate both Muslims' and non-Muslims' interests as the banking industry is universal in nature," he said.
So far, the sharia banking industry in the world's largest Muslim country had been based on Bank Indonesia (the central bank)'s rulings, he said adding the enactment of the sharia banking law would hopefully ensure legal certainty in running the sharia banking industry.
Meanwhile, Religious Affairs Minister Maftuh Basyuni said the government and Bank Indonesia would soon issue regulations to implement the law.