This is going to be straightforward.
As a Muslim, particularly in Indonesia, I honestly believe that banking remains a gray area. This is why there’s a lot of debate about whether it’s halal or haram—whether we’re talking about its services or the entire banking system. But hear me out for a second. The banking industry has proven to be profitable in Indonesia (just look at the performance of major bank stocks like BBCA or BMRI) compared to the Syariah banks, which have even needed to merge to stay viable, or even compared to the other industries. So, is it still considered haram? Yes, I understand that determining halal or haram isn't based solely on profitability, but isn't riba considered haram because it allows only one party to profit while the other suffers? But what if both parties profit? What if all parties involved benefit?
On the other hand, how do we create meaningful change in the banking industry in Indonesia if we’re prohibited from investing in its stocks—something we can buy collectively to potentially influence future changes? This might sound a bit far-fetched, but it’s worth considering.
What about you? How do you see it?