Indonesia revises Islamic banking rules as growth slides

Jakarta

INDONESIA'S regulator has issued revised Islamic banking rules covering asset quality and capital adequacy to help clarify market practices, while industry growth has now dropped to single-digits.

Authorities want to encourage a wider product range to help Islamic banks grab a bigger share of the Indonesian market, a sector which remains behind more mature markets in Malaysia and the Middle East.

Indonesia's financial services authority, Otoritas Jasa Keuangan (OJK), announced the move on Wednesd…