Efforts to tackle the housing backlog while expanding access to\nsharia-based financing are gaining momentum from the banking sector.\nBank Syariah Nasional (BSN) has teamed up with the Indonesian Sharia\nProperty Association (APSI) to strengthen sharia property financing,\nwhich is still hampered by low literacy and limited funding access.<\/p>\n
BSN President Director Alex Sofjan Noor stated that collaboration\nwith property industry players is necessary to accelerate the\ndistribution of real sector financing, particularly sharia-based\nhousing, which has significant potential in Indonesia.<\/p>\n
\u201cThis partnership is a strategic step to bolster real sector\nfinancing, especially the sharia property industry. We see a very large\nmarket potential, but financing access still needs to be expanded to\nmake it more accessible to the public,\u201d Alex said in Jakarta\nrecently.<\/p>\n
According to him, BSN will provide various financing schemes, from\nconstruction project financing to sharia home ownership credit (KPR)\nwith tenors of up to 30 years and competitive margins.<\/p>\n
On the other hand, APSI General Chairman M. Abubakar views support\nfrom sharia banking as a key factor in accelerating the growth of the\nsharia property industry, particularly amid rising housing needs and the\ntrend towards halal lifestyles.<\/p>\n
\u201cSo far, sharia property developers have faced challenges in\naccessing financing, both for projects and consumers. With banking\nsupport, development can be healthier and more sustainable,\u201d Abubakar\nsaid.<\/p>\n
He added that the potential for the sharia property market continues\nto grow along with increasing public awareness of riba-free home\nownership. However, public understanding of sharia financing systems is\nstill limited.<\/p>\n
\u201cLiteracy is the main challenge. Many people do not yet understand\nthat the sharia system is not just a term, but offers more transparent\nand equitable transaction mechanisms,\u201d he stated.<\/p>\n
Through this partnership, BSN will provide financing for developers\nsuch as construction financing, land acquisition, and working capital,\nas well as subsidised and non-subsidised home ownership financing for\nconsumers.<\/p>\n
Additionally, both parties are preparing the integration of banking\ntransaction services and strengthening the ecosystem through an\nintegrated platform that connects developers, consumers, and financial\ninstitutions.<\/p>\n
Amid the still high housing backlog, this collaboration is expected\nto expand affordable sharia-based housing options while increasing\nsharia financial inclusion in the property sector.<\/p>\n
APSI also encourages developers from various associations to start\nutilising sharia banking services to strengthen the national property\nindustry and provide more stable and principled alternative\nfinancing.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/sharia-schemes-as-alternative-housing-financing-1773841854", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }