Ilhamdi Ilhamdi


This study aims to determine the role of Islamic banking on economic growth in Indonesia and to compared it with conventional banks. In recent years, Islamic banking has increased in terms of assets. By using panel data regression, this study examines the effect of Islamic banking on economic growth. Besides that, how big is the level of elasticity to economic growth. This study uses secondary data in the form of Gross Domestic Product (GDP), Islamic banking financing and credit by conventional banks. The results showed that Islamic banking and conventional banks had a positive impact on economic growth with the level of elasticity of Islamic banking still below conventional banks. So the existence of Islamic and conventional banks does not always replace, but complement each other in Indonesia.

Full Text:



Abduh, M., & Azmi Omar, M. (2012). Islamic banking and economic growth: the Indonesian experience. International Journal of Islamic and Middle Eastern Finance and Management, 5(1), 35–47.

Ahmad, N., Shafique, M. N., & Ahmad, H. (2015). Does Islamic Banking System Contributes to Economic Development. Nigerian Chapter of Arabian Journal of Business and Management Review, 3(8), 1–5.

Furqani, H., & Mulyany, R. (2009). Islamic banking and economic growth: Empirical evidence from Malaysia. Journal of Economic Cooperation and Development, 30(2), 59–74.

Johnson, K. (2013). Scholarship @ Claremont The Role of Islamic Banking in Economic Growth. Retrieved from

Juhro, S.M., Darsono, F. S. dan A. S. (2018). Kebijakan Moneter Syariah Dalam Sistem Keuangan Ganda Teori dan Praktek (Muhammad Syafii Antonio, ed.). Retrieved from

Mishkin, F. S. (2009). The Economics of Money, Banking and Financial Markets (Ninth Edit; Donna Battista, ed.). The United States of America.

Panicos O., D. and K. B. L. (2016). Financial Development , Economic Growth and Banking Sector Controls : Evidence from India Author ( s ): Panicos O . Demetriades and Kul B . Luintel Published by : Wiley on behalf of the Royal Economic Society Stable URL : 106(435), 359–374.

Pusat Riset dan Edukasi Bank Sentral Bank Indonesia. (2014). Kebanksentralan Teori dan Praktik di Indonesia (Iskandar Simorangkir, ed.). Jakarta, Indonesia: Raja Grafindo.

Rashid, A., Yousaf, S., & Khaleequzzaman, M. (2017). Does Islamic banking really strengthen financial stability? Empirical evidence from Pakistan. International Journal of Islamic and Middle Eastern Finance and Management, 10(2), 130–148.

Scumpeter, J. A. (1983). The Theory of Economic Development. New Jersey: New Brunswick.

Sukmana, R., & Kassim, S. H. (2010). Roles of the Islamic banks in the monetary transmission process in Malaysia. International Journal of Islamic and Middle Eastern Finance and Management, 3(1), 7–19.

Vogel, Frank E., S. L. H. (1998). Islamic Law and Finance: Religion, Risk, and Return. The Hague: Kluwer Law International.

Wajdi Dusuki, A. (2008). Banking for the poor: The role of Islamic banking in microfinance initiatives. Humanomics, 24(1), 49–66.



  • There are currently no refbacks.

Copyright (c) 2020 JAAKFE UNTAN (Jurnal Audit dan Akuntansi Fakultas Ekonomi Universitas Tanjungpura)

Indexed by:


Published By:

Jurusan Akuntansi, Fakultas Ekonomi*, Universitas Tanjungpura

*now Fakultas Ekonomi dan Bisnis