Sharia Matahari Bank Officially Receives Operational Permit from OJK

REPUBLIKA.CO.ID, JAKARTA -- Sharia Matahari Bank has officially obtained an operational permit from the Financial Services Authority (OJK) on June 18, 2025. The leadership of the Centre (PP) of Muhammadiyah issued an appeal to all elements of the union to give full support to Sharia Matahari Bank.

Chairman of PP Muhammadiyah, Buya Anwar Abbas, explained that there are two types of sharia banks in Indonesia, namely the sharia public bank (BUS) and the Sharia People's Financing Bank (BPRS). “The bank that has just received permission from OJK is the bank resulting from the conversion of BPR Matahari Artadaya into BPR Shariah Matahari, now known as Bank Sharia Matahari (BSM),” Buya Anwar told Republika on Tuesday (15/7/2025).

He revealed the potential of Muhammadiyah to establish BUS was considerable. In fact, OJK has advised PP Muhammadiyah to encourage the merger of BPR Sharia Matahari spread in Muhammadiyah neighborhood in order to form a large and powerful BPRS. It is expected to be the forerunner of the establishment of the Sharia Public Bank (BUS) of Muhammadiyah.

Nevertheless, Buya Anwar stressed at the moment there is no plan for the establishment of BUS, although the insistence from the internals is quite strong. Because, the establishment of BUS requires careful preparation, including in terms of capital, networks, information technology, and human resources (HR).

“Regarding the invitation of PP Muhammadiyah to place funds in BPR Sharia belonging to Muhammadiyah, this does not mean that Amal Usaha Muhammadiyah (AUM) should withdraw its funds from partner sharia banks that have been cooperating so far,” explained Buya Anwar.

He reiterated that any AUM remains expected to maintain good relations with existing partner banks. However, at the same time, AUM was also invited to pay attention to the existence of Muhammadiyah's own bank.

Earlier, PP Muhammadiyah officially issued an appeal to all elements of the coalition to support Sharia Matahari Bank, as stated in letter number 124/HIM/1.0/C/2025 signed by Chairman of PP Muhammadiyah Dr H Anwar Abbas and Secretary H Izzul Muslimin, quoted Saturday (12/7/2025).

“With this, PP Muhammadiyah strongly supports the growth of Sharia Matahari Bank and appeals to all elements of the organization at all levels, including ORTOM and Amal Usaha Muhammadiyah,” the letter quoted him as saying.

PP Muhammadiyah is pushing for international citizens to start placing third-party funds, such as savings and deposits, in Sharia Matahari Bank. In addition, all institutional financial activities are also requested to be carried out through this bank.

Muhammadiyah also called for the management of institutional financial transactions to be served by Sharia Matahari Bank, and urged citizens to actively participate in the socialization and development of this bank in their respective regions.