In Indonesian banking, rise in religious conservatism ripples across sector

Savings in Islamic banks jumped 80 per cent from end-2018 to March 2021. - Reuters

JAKARTA (Reuters): A rise in religious conservatism in Indonesia is drawing talent away from what some view as un-Islamic jobs in banking, industry professionals say, creating hiring woes for conventional banks but a boon for the country's fledgling sharia finance sector.

The trend comes amid broader societal change in the world's biggest Muslim-majority country, driven by millions of young, 'born-again' Muslims embracing stricter interpretations of Islam.