BSN Targets Entry into Muhammadiyah Economic Ecosystem
BSN Enters the Muhammadiyah Economic Ecosystem
- BSN Documentation.
Tangerang, VIVA – PT Bank Syariah Nasional (BSN) has officially entered the financial ecosystem of the Muhammadiyah organisation. This strategic move is aimed at breaking the stagnation in the national Islamic banking market share, which has remained at 7%–8% over the past decade.
The signing of a Memorandum of Understanding (MoU) between the management of BSN and the Central Leadership (PP) of Muhammadiyah took place in Tangerang, Banten, on Tuesday, 24 February 2026. This marks the entry point for BSN to manage liquidity across thousands of points within the Muhammadiyah network, from the education and healthcare sectors to the supply chains of local businesses.
BSN’s President Director, Alex Sofjan Noor, stated that penetrating the Muhammadiyah ecosystem is a concrete step taken by the company to accelerate financial inclusion in Islamic finance, which currently stands at 13.41%.
“We are no longer waiting for the market; instead, we are entering a mature ecosystem. Muhammadiyah has extraordinary legitimacy and an extensive economic network. This is a momentum for BSN to be present as a key partner in building public trust through tangible services,” said Alex in Tangerang, as quoted in a statement on Wednesday, 25 February 2026.
In this collaboration, BSN positions itself as a provider of digital cash management solutions for Amal Usaha Muhammadiyah (AUM). The company aims to manage funds and payment systems, including payroll services, virtual accounts, and QRIS integration for hundreds of universities and hospitals under the Muhammadiyah umbrella.
BSN has also launched a Muhammadiyah–BSN co-branded debit card to directly target millions of members of the organisation. This entire ecosystem will be integrated into the Bale Syariah by BSN application, which enables access to Islamic home financing and digital instalment-based gold investments.
This expansion is supported by BSN’s increasingly solid fundamentals following last year’s transformation. As a bank born from the acquisition of Victoria Syariah by BTN Syariah, BSN has recorded total assets of IDR 72.9 trillion as of December 2025. With the support of 118 national outlets, BSN is optimistic that its penetration into the Muhammadiyah ecosystem will make a significant contribution to the company’s third-party funds (DPK) portfolio.
Alex added that the comparison with Malaysia, which has an Islamic market share of over 40%, serves as a driving force for BSN to continue penetrating the largest mass organisation in Indonesia. “This collaboration is not just a formality. We are committed to providing sustainable financial benefits to the Muhammadiyah organisation through measurable programmes,” Alex concluded.