Indonesian Law No. 21 of 2008 on Shari'a Banking

This statute regulates shari'a banking practices and the establishment of shari'a banks in Indonesia. The statute acknowledges the principles of shari'a banking as forming part of the teachings of Islam. More specifically, it acknowledges the Islamic prohibition on riba (usury or interest) in a variety of forms, and how implementing a system based on profit and loss sharing can create a healthy and just investment climate.

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