REPUBLIKA.CO.ID,  JAKARTA – Indonesian Islamic banking believes the increasing Indonesian debt to become investment grade will indirectly affect business performance in 2012. The ongoing of economic condition and the increase of middle class society are important supports to Islamic bank performance this year.

After Indonesian debt-grade improves to investment grade –as stated by Fitch Ratings and Moody’s Investor Service- the capital flow to Indonesia is believed to grow. The Director of Business in BNI Syariah, Bambang Widjanarko, said, those factors are the stimulus for Indonesian economic development. “With the development of economy, Islamic banking has a big opportunity to grow,” he said in Jakarta on Tuesday. 

In prime economy, public demand will increase. The amount of middle class society will grow gradually. “Middle class society is the main supporter of our financing, especially in consumer financing sector,” Widjanarko said. 

He explained, Islamic banking products attracted middle class society. With wide market segment, the performance of Islamic banking will boost significantly. “Now, Indonesian citizen are familiar with Islamic bank,” he added.

Beside middle class segment, Islamic banking hopes small medium enterprises (SME) will grow in Indonesia. National economic condition still depends on SME, Widjanarko says. “Many entrepreneurs emerge. The segment offers a big opportunity for Islamic banking,” he said.

In the mean time, Islamic banking is still optimistic about the outlook in 2012, although the global economic condition still hampers. “We are optimistic to reach the development in 2012 despite the unstable international economy,” he said.

The Director of Bank Syariah Mandiri (BSM), Sugiharto, agrees. He said, investment grade will influence Indonesian economy. “With the support from Indonesian economy and good investment, we believe that business performance of Islamic bank will increase,” Sugiharto said.

However, the improving grade will not impact Islamic banking directly to the business capacity in Indonesia is still small, the chairman of Indonesian Islamic Bank Association (Asbisindo), A Riawan Amin, says. “Recently, the infrastructure financing and capital flow do not involve Islamic banking yet,” he said.  

To boost Islamic banking, Amin said, the government should have given stimulus. He also suggests, infrastructure financing can be done by syndication of some Islamic banks. “The political will of the government is very important,” he added. 

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