BSN Partners with APSI to Boost Sharia Property Credit, Targeting 73,700 Units by 2026

Bank Syariah Nasional (BSN) has forged a strategic partnership with the Indonesian Sharia Property Association (APSI) through the signing of a Memorandum of Understanding to bolster the sharia-based housing ecosystem in Indonesia. This initiative further solidifies BSN’s position as a key player in the national sharia banking industry, following its official operation as the second-largest sharia bank in the country, with assets reaching Rp72.9 trillion by the end of 2025. BSN’s Chief Executive Officer, Alex Sofjan Noor, stated that the collaboration encompasses a broad scope, from fund management via the BSN Cash Management System to the provision of specialised financing facilities for the sharia property sector. According to Alex, BSN also offers dedicated financing products such as BSN Yasa Griya, along with land ownership financing facilities for developers. This financing support is expected to accelerate the development of sharia-principled housing projects across various regions in Indonesia. In the context of housing financing expansion, BSN has set an aggressive target for 2026 to realise financing for 73,700 housing units, a significant increase from the 2025 achievement of 59,463 units. Currently, BSN’s consumer financing portfolio is dominated by subsidised mortgages at 63 per cent, with non-subsidised mortgages contributing 31 per cent and non-mortgage financing at 2 per cent. To expand access to property financing services, BSN is also relying on digital transformation through the Bale Syariah by BSN application. The app is designed to make it easier for customers to access various sharia banking services in a more transparent and efficient manner. Meanwhile, the General Chairman of APSI’s DPP, Muhammad Abubakar, welcomed BSN’s step, which he views as having the potential to become the main driver in developing the national sharia property ecosystem. “For us at APSI, property is a professional choice, but sharia is not a choice because sharia is an obligation. For us, BSN is not the first, but going forward, we want BSN to be the primary choice,” Abubakar emphasised. He added that APSI hopes this synergy can strengthen BSN’s role as the driving force of the sharia property ecosystem, particularly in supporting developers committed to implementing sharia principles. Through the integration of banking services and the real property sector, the BSN-APSI collaboration is expected to contribute to the growth of the national sharia economy while accelerating the fulfilment of housing needs for the community through financing schemes aligned with sharia principles. Moving forward, both parties are committed to implementing concrete work programmes that include outreach and the development of more specific products to meet the needs of sharia property developers and consumers across various regions in Indonesia.