As BNI Syariah’s most recently launched banking product, the iB Griya Swakarya banking product strives to facilitate consumers with a highly-competitive financing scheme namely for home ownership. This banking product is the first of its kind to be introduced to the Indonesian market in which it is based on the concept of murabaha (fixed asset ownership). Furthermore, the introduction of the iB Griya Swakarya banking product is moving in-line with BNI Syariah’s utmost dedication in supporting the Indonesian government’s ‘one million homes’ national programme.
Under the murabaha scheme, BNI Syariah will purchase the residential property and excludes developer fees hence translating to more competitive housing prices. As part of the iB Griya Swakarya banking product, potential homeowners are, therefore, entitled to fixed rate lending for property purchases. This particular shariah financing method will provide improved accessibility to a greater number of customers in search of an affordable as well as shariah compliant property financing scheme. The iB Griya Swakarya banking product is also applicable for land developments and property renovations.
With BNI Syariah cementing its role as a ‘Hasanah Lifestyle’ banking partner over the coming years, the bank aims to cooperate with a greater number of local property developers in order to continuously expand its murabaha-based banking product. Through the iB Griya Swakarya banking product, BNI Syariah has paved the way for market-leading home ownership financing services in Indonesia and highlighted its success as a top-ranking shariah bank in the country.