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The Effectiveness of Spin off As a Breakthrough in Promoting Islamic Banking in Indonesia

Author

Listed:
  • Wardah Yuspin*

    (Law and Economics Department, Universitas Muhammadiyah Surakarta, Indonesia)

  • Ata Fauzie

    (Law and Economics Department, Universitas Muhammadiyah Surakarta, Indonesia)

Abstract

The Article 68 of Law No. 21 of 2008 on Sharia/Islamic Banking has stipulated the policy of UUS Splitting (Spinoff) to the Conventional Commercial Bank in Indonesia. This study aimed at determining the effectiveness of this policy based on Friedman’s theory of legal system. It is a juridical empirical research with data collection techniques including library research, interview and observation on BNI Syariah and Bukopin Syariah as banks that had been implemented spin off. According to Friedman, three factors to examine the effectiveness of a legal instrument are the structure of law, the substance of law and the legal culture. Based on Friedman’s theory the effectiveness of spinoffin the context of Indonesia is categorized as less optimal.

Suggested Citation

  • Wardah Yuspin* & Ata Fauzie, 2018. "The Effectiveness of Spin off As a Breakthrough in Promoting Islamic Banking in Indonesia," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 213-216:6.
    • Handle: RePEc:arp:tjssrr:2018:p:213-216
    as

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    References listed on IDEAS

    as
    1. M. Nur Rianto Al Arif, 2014. "Spin-off and its impact on the third party funds of Indonesian Islamic banking industry," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 6(1), pages 50-55, April.
    2. M. Nur Rianto Al Arif, 2014. "Spin-off and its impact on the third party funds of Indonesian Islamic banking industry," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 6(1), pages 50-55.
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