Strengthening Sharia Compliance in Islamic Banking Institutions in Indonesia

Sumar`in Asmawi

Sumar`in Asmawi Faculty of Islamic Economics and Bussines, Institut Agama Islam Sultan Muhammad Syafiuddin Sambas, Indonesia

Keywords: Islamic Banking, shariah compliance, and sharia supervision board

Abstract

Islamic banking is a system that eliminates the interest-based transactions in every financial activity and replaces it with Sharia principles. Sharia compliance is the main differentiator between Islamic and conventional economics. This research employs the library research method, using literature as the primary source of data related to the theme of this paper. The author emphasizes the importance of the presence of Sharia Supervisory Board (DPS) as the authority overseeing Sharia compliance in Islamic banking in Indonesia, with clear responsibilities and roles regulated through strict legal provisions. To enhance the role of DPS, the researcher recommends three aspects: firstly, the need for a more comprehensive standardization of DPS competencies; secondly, the clear regulation of independence issues; and thirdly, the standardization and systematic implementation procedures of Sharia audits at the national level.

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