DEVELOPMENT OF ISLAMIC BANKING AND THE PROJECTION OF ECONOMIC GROWTH IN ACEH POST-IMPLEMENTATION OF ISLAMIC LAW
Acehnese people obey the teachings of Islam according to Quran and Sunnah and always up hold the consensus of the Muslim scholars. Understanding of the teachings of Islam that led to the emergence of Acehnese culture that is reflected in the lives of indigenous peoples. Indigenous life that develops in people's lives, which are then accumulated into a proverb which says “Adat bak Poteumourehom, Hukom bak Syiah Kuala, Kanun bak Putro Phang, Reusam bak Laksamana” which means Customary law is authority of government and the Sharia law is authority of Islam. This expression is a reflection of the implementation of Islamic law in public life (Regulation No. 5, 2000).
Based on Central Bureau of Statistics Aceh, Aceh's economic development in 2011 grew 5.89% with the largest contribution comes from oil and gas sector. However, this figure is still below the national growth rate of 6.5%. It can be said that during the year 2011 in all sectors of the economy showed positive growth, so this could potentially increase the economic growth in Aceh.
One sector that is expected to drive the economy in Aceh is Islamic banking. This is because according to the principles of Islamic banks, they should have financial balance between the benefits and social responsibility, thus it is expected to contribute a higher level in the real sector in Aceh.
This paper aims to analyze the development of Islamic banks after the application of Islamic law in Aceh as well as analyzing the regional economic development after the application of Islamic law in Aceh. This study uses a descriptive qualitative research methods to answer the problem "The development of Islamic Banking and Economic Projections in Aceh Post-Implementation of Islamic Law". However, this study uses only secondary data source obtained from the literature material in the form of books.The result of research is published in scientific journals or the mass media in the form of release of study results.