The Role of State Sharia Securities (SBSN) in Indonesia's Financing Sector

Muhammad Iqbal Zuhdi *

Tanjungpura University, West Kalimantan, Indonesia.

Wahyudi *

Tanjungpura University, West Kalimantan, Indonesia.

Romi Suradi *

Tanjungpura University, West Kalimantan, Indonesia.

*Author to whom correspondence should be addressed.


Aims: This research aims to determine the role of State Sharia Securities (SBSN) in the financing sector in Indonesia. In this context, State Sharia Securities are one of the supporting factors in addressing the state budget deficit.

Study Design: To describe the existing data in words so that readers can easily understand the purpose of this research.

Place and Duration of Study: The research location is in Indonesia. Meanwhile, the timeframe of this research is from 2013 to 2023.

Methodology: This research employs a descriptive qualitative approach with Government Sharia Securities as the independent variable and the financing sector in Indonesia as the dependent variable. The data in this study are secondary data obtained through the annual financial reports available on the official websites of Bank Indonesia, the Ministry of Finance, and the National Development Planning Agency.

Results: The results of this study show that Government Sharia Securities play a role in supporting the national financing sector, with the majority of national financing funded by the State Budget. The emergence of Government Sharia Securities can help the government address the deficit in the State Budget.

Keywords: SBSN, state financing, APBN

How to Cite

Zuhdi, Muhammad Iqbal, Wahyudi, and Romi Suradi. 2024. “The Role of State Sharia Securities (SBSN) in Indonesia’s Financing Sector”. Asian Journal of Economics, Business and Accounting 24 (7):238-46.


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