[REVISION HISTORY]

Indonesian banking and sharia finance development

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2026-10-18 06:48 UTC → 2026-10-19 02:54 UTC · added ~~removed~~

The Indonesian financial sector continues to evolve through institutional shifts and strategic ESG-focused expansions. PT Bank Syariah Indonesia (BSI) has significantly increased its commitment to sustainable finance, reporting Rp78.6 trillion in environmental, social, and governance (ESG) financing as of June 2026. This figure constitutes 23.1 percent of the bank’s total financing, representing a 7.09 percent growth from the previous period. To support these initiatives, BSI has strengthened its sustainable funding through the issuance of Rp8 trillion in sustainable sukuk and Rp1.5 trillion in sustainability-linked financing for the Bali Mandara Toll Road project. During the 13th Indonesia Sharia Economic Festival (ISEF) ~~2026~~ 2026, held from October 14–18 in Jakarta, the sharia economic ecosystem demonstrated significant momentum. Business matching for sharia financing and trade reached Rp3.16 trillion, consisting of Rp2.6 trillion in financing and Rp558.4 billion in trade. Furthermore, commitments regarding the sharia money market and foreign exchange cooperation totaled Rp6.05 trillion. Notable individual transactions included Bank Mega Syariah signing financing agreements worth approximately Rp196.9 billion. To bolster the ecosystem, Bank Indonesia (BI) introduced several ~~initiatives to accelerate sustainable growth through digital transformation and synergy. These include~~ initiatives: the Islamic Financial Market Code of Conduct (ICoC) to enhance market integrity, the Zakat Core Principles (ZCP) 2.0 to improve zakat governance, and an international scholarship program funded by sharia social funds. BI continues to aim for a sharia financial market share of 12% to 15% by 2028. In the banking sector, BCA Syariah ~~signed liquidity management agreements (SiPA) with BSI, OCBC Syariah, CIMB Niaga, and BPD NTB Syariah~~ has utilized SiPA transactions to strengthen ~~the national ecosystem. The bank also launched a Cash Waqf Linked Deposit (CWLD) program with Wakaf Warrior to support MSMEs.~~ interbank liquidity. Additionally, the festival highlighted regional successes in Muslim-friendly tourism, with West Java securing first place in the Indonesia Muslim Travel Index (IMTI) ~~2026 and West Nusa Tenggara remaining in the top three national rankings.~~ 2026.

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