Bank Syariah Indonesia

Bank Syariah Indonesia (BSI) is a financial institution headquartered in Indonesia. As a bank, it accepts deposits, extends credit, and offers a range of financial products to individuals and businesses. Its services are conducted in accordance with Islamic banking principles, which prohibit interest (riba) and emphasize risk‑sharing and ethical investing. The bank primarily serves customers within the Indonesian market, providing retail, corporate, and investment banking solutions that comply with sharia law. These core activities position BSI as a provider of finance that aligns with the religious and cultural preferences of a significant segment of the population.

A distinguishing attribute of Bank Syariah Indonesia is its commitment to sharia‑compliant finance, overseen by an internal sharia supervisory board that reviews products and operations. This focus differentiates it from conventional banks in Indonesia, allowing it to offer instruments such as mudharabah (profit‑sharing), musharakah (joint venture), and ijara (leasing) instead of interest‑based loans. The bank operates under the regulatory framework of the Indonesian Financial Services Authority (OJK) and must also adhere to guidelines issued by the National Sharia Board (DSN). Its sector positioning is that of a full‑service Islamic bank providing retail, corporate, and investment products that conform to sharia principles. This orientation enables BSI to serve customers who seek banking solutions aligned with Islamic ethical standards.

In May 2023, Bank Syariah Indonesia experienced a significant cybersecurity incident when the LockBit ransomware group exfiltrated approximately 1.5 terabytes of personal and financial data. The breach affected around 15 million customers and employees and forced the bank to take several service channels offline while it responded to the attack. After ransom negotiations failed, the attackers leaked the stolen data publicly and accused the bank of initially describing the disruption as routine maintenance. Indonesian authorities were notified, participated in the investigation, and assisted with efforts to restore services and secure the bank’s systems. The incident highlighted the growing threat of ransomware to financial institutions and underscored the importance of robust cyber‑defence measures for banks operating in Indonesia.