Muhammadiyah’s Bank Syariah Matahari Officially Begins Operations After Securing OJK License
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JAKARTA, Investortrust.id — Muhammadiyah, one of Indonesia’s largest Islamic organizations, announced the official launch of Bank Syariah Matahari after securing an operational license from the Financial Services Authority (OJK) on Tuesday, June 18, 2025.
The license, issued under Decision No. KEP-39/D.03/2025, enables the bank to operate as a Sharia People’s Financing Bank (BPRS), a category of Islamic rural bank in Indonesia. The bank is expected to serve as a pillar of Muhammadiyah’s broader economic vision.
In a statement issued Saturday, Chairman of Muhammadiyah Anwar Abbas urged all branches, autonomous bodies, and Muhammadiyah’s affiliated enterprises in education, healthcare, and business to actively support the bank by using its services and placing funds such as savings and time deposits.
“Channeling third-party funds, managing institutional transactions, and utilizing the financial services of Bank Syariah Matahari represent a concrete contribution to our shared mission,” Anwar said.
Part of a Strategic Islamic Finance Ecosystem
Anwar also called on regional and local Muhammadiyah leaders to promote the bank’s presence and expand its outreach to the general public. He stressed that the bank is not merely a financial institution, but a key part of Muhammadiyah’s economic dakwah—or Islamic missionary efforts—in the sharia banking sector.
“This bank is envisioned as a cornerstone in building a people’s economy grounded in Islamic values,” he said.
Bank Syariah Matahari is the result of a conversion from BPR Matahari Artadaya, previously operated as a conventional rural bank under the auspices of Universitas Muhammadiyah Prof. Dr. Hamka (UHAMKA). Following the conversion, the bank now operates fully under Islamic financial principles.
Expanding Sharia Banking from Within
The launch marks a significant step in Muhammadiyah’s plan to build a robust internal Islamic finance network. As of mid-2025, the organization manages around 10 BPRS units across Indonesia. The initiative reflects Muhammadiyah’s commitment to an inclusive and equitable sharia-based financial ecosystem focused on community empowerment.
Anwar noted that Bank Syariah Matahari is expected to become a central financial hub for Muhammadiyah members and institutions, helping broaden the reach of Islamic financial inclusion throughout the country.