Islamic economics in the past three decades has made rapid progress, both in academic studies at universities and in operational practices. In the form of teaching, Islamic economics has been developed in several universities both in Muslim countries, as well as in western countries, such as USA, UK, Australia, and others.
In practice, Islamic economics has developed in the form of banking institutions as well as other non-Islamic Islamic institutions. To date, banking institutions and other Islamic financial institutions have spread to 75 countries including to western countries (WASPADA online).
In Indonesia, the development of learning and the implementation of Islamic economics has also been progressing rapidly. Learning about Islamic economics has been taught in several public and private universities. The development of Islamic economics has begun to gain momentum since the establishment of Bank Muamalat in 1992. Various laws supporting the economic system even began to be created, such as Law no. 7 of 1992 concerning Banking as amended by Act Number 10 of 1998 and Act Number 23 of 1999 concerning Bank Indonesia, has even received direct support from the vice president of Indonesia, Jusuf Kalla.
