BTN Syariah Gets Award The Best Islamic Project Finance House 2023 From Euromoney

Photo: Doc. BTN

JAKARTA - The track record of the Sharia Business Unit of PT Bank Tabungan Negara (Persero) Tbk (BTN Syariah) in providing financing in the housing sector has successfully won the international award The Best Islamic Project Finance House 2023. The award was won at the Euromoney Awards or Excellence 2023 in Dubai.

Director of Consumer Bank BTN Hirwandi Gafar said he really appreciated the award given by Euromoney to BTN Syariah. This positive appreciation has become a breath of fresh air for BTN Syariah in the midst of the company's efforts to continue to channel financing in the housing sector.

"We will continue to spur the performance and service of BTN Syariah so that it can provide more benefits to all Indonesian community groups, especially in helping them own their homes through sharia schemes, including millennials," Hirwandi said after receiving the award in Dubai, Wednesday, June 21.

According to Hirwandi, the award given by international institutions such as Euromoney is due to the very significant role of Sharia BTN in financing sharia-based housing in Indonesia.

BTN Syariah, he continued, provides housing financing from upstream to downstream. Starting from housing financing (KPR) for all groups such as millennials, middle class, to low-income people (MBR).

Hirwandi continued, the special facilities provided by BTN Syariah for millennials to own a house are BTN HITS (Hijrah to Syariah). The BTN Sharia Business Unit (UUS) KPR service also uses the Musyarakah Mutanaqisah scheme.

The scheme allows people to pay installments in stages according to an agreement with the Bank. In addition, BTN Syariah also provides financing for land ownership, house construction, and for house renovation.

With various strategies in financing these housing, BTN Syariah has successfully controlled the market in Indonesia. As of December 2022, BTN Syariah controls 81 percent of the market share of subsidized housing financing compared to other Islamic banks in Indonesia.

BTN Syariah also continues to hold various initiatives to increase subsidized housing financing ranging from community-based cooperation to collaborating with stakeholders.

Meanwhile, with all these performances and initiatives, the BTN UUS recorded a net profit growth from the end of 2020 to the end of 2022 (Compound Annual Growth Rate / CAGR) of 57.2 percent. During that period, Sharia BTN Assets also grew positively (CAGR) by 16.7 percent.