REPUBLIKA.CO.ID, NUSA DUA -- Global investors keen to adopt sharia concept, which has the remarkable potential to develop into many types of investment. For example, the growth of Islamic stock is very high. The market share increases up to 58 percent in the last year compared to 13-14 percent of conventional banks.

"Though without sharia labels, global community requires a system, which has a lot of similarities with Islamic concept," Head of Islamic Banking in Financial Services Authority (OJK) Edi Setiadi said on Tuesday in Bali.

However, Indonesian people who are Muslim majority have not been fully involved in using the Islamic financial services, including capital market. Community is still interested to invest in deposits or savings, which are guaranteed by the Insurance Deposit Agency (LPS).

OJK also asked government commitment to establish a state owned Islamic bank. Chief Executive of Non-bank Financial Institution Supervisor in OJK, Firdaus Djaelani said that government should have a concrete step to do it.

"The goal is to encourage the development of national Islamic finance industry to grow faster," Djaelani said.

State owned Islamic bank will improve the development of other Islamic investment products, including insurance or tafakul.

It can be implemented through two options, namely the establishment of the new Islamic bank or conversion of one state owned bank that already exists today, such as PT Bank Tabungan Negara (BTN).

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