Indonesian Sharia Financing Records Positive Growth in Early 2026: OJK
Indonesian Sharia Financing Records Positive Growth in Early 2026: OJK
09 Mar 2026 03:14 WIB
Voice of Indonesia
RRI.CO.ID, Jakarta - The Financial Services Authority (OJK) reported positive growth in Indonesia’s Islamic finance industry at the beginning of 2026, driven by rising sharia financing in the multifinance sector.
Executive Director of Supervision for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions (PVML), Agusman, said sharia financing receivables in the multifinance sector rose 10.59 percent year-on-year in January 2026 to IDR 30.87 trillion (approx. USD 1.82 billion).
“Sharia financing in the multifinance sector shows positive development,” he said in Jakarta on Sunday, March 8, 2026, as quoted by Antara.
OJK noted that most financing was disbursed through buy-sell schemes using murabahah contracts, amounting to IDR 19.29 trillion, or 62.48 percent of total financing. Murabahah is a contract in Islamic finance that requires transparency in costs, prices, and profit margins, with payments made either in cash or installments at a fixed margin until repayment.
Agusman emphasized that the potential for Islamic financing remains significant, supported by a regulatory framework that enables product development through various sharia contract schemes.
In contrast, the Islamic capital market recorded a decline.
The Indonesian Sharia Stock Index (ISSI) fell 5.09 percent year-to-date in February 2026 to 292.88. Acting Chair and Deputy Chair of the OJK Board of Commissioners, Friderica Widyasari Dewi, reported that the market capitalization of sharia stocks decreased from IDR 8.55 quadrillion in January 2026 to IDR 8.34 quadrillion in February 2026.
Despite the stock market downturn, investment in other sharia instruments continued to grow. Fund placements in government bonds increased from IDR 1.70 quadrillion in December 2025 to IDR 1.72 quadrillion in January 2026 and remained stable through February.
Corporate bond investment also rose from IDR 88.92 trillion in January 2026 to IDR 90.57 trillion in February 2026. “Meanwhile, the Asset Under Management (AUM) of sharia mutual funds grew 12.69 percent year-to-date to IDR 94.03 trillion,” Friderica said. ***