How Islamic Is Islamic Banking in Indonesia?

The purpose of this paper is to analyze the implementation of Sharīʿah values in Islamic banks operating in Indonesia. The research uses survey data taken from 240 respondents from types of Islamic banks operating in Indonesia. These consist of three full-fledged Islamic banks namely, subsidiaries of state-owned and private conventional banks and the Islamic business unit of a conventional bank. Each Islamic banks survey respondents represented 30 employees and 30 customers. The results of the study show that in general there are differences in the implementation of Sharīʿah values among Islamic banks. Our findings also show different perceptions between Islamic bank employees and customers in terms of Sharīʿah value implementation in the respective banks. From the four Sharīʿah principles measured, justice was found to have the lowest score compared to other principles such as brotherhood, benefit and balance