Analysis of the Subsidized Mortgage Program for High-Income Communities Low at Bank Syariah Indonesia KCP Surabaya Manukan

Abstract
This study aims to analyze the implementation of the Sharia Home Ownership Financing (KPR) program for customers of Bank Syariah Indonesia (BSI), Surabaya Manukan Sub-branch Office (KCP). The study examines the financing process, socio-economic impacts on beneficiaries, challenges encountered during the process, and the role of the sharia bank in supporting government initiatives. A descriptive qualitative approach was employed, involving account officers, financing marketing staff, and KPR employees selected through purposive sampling. Data were collected via semi-structured observation, documentation, and interviews, then analyzed using the interactive model developed by Miles, Huberman, and Saldaña. The results indicate that the program is implemented systematically through customer education, document verification, field surveys, financing feasibility assessment, and the murabahah contract. The program has enhanced family welfare and housing comfort, expanded access to affordable housing, reduced reliance on rental accommodation, and improved household financial stability through a fixed-installment scheme. Furthermore, the number of KPR customers rose from 126 in 2023 to 175 in 2025, indicating growing public awareness regarding sharia-based housing. However, several obstacles remain, such as limited public literacy regarding sharia compliance, customer income instability, issues with administrative document completeness, and the availability of subsidized units. This research highlights the importance of strengthening collaboration among sharia banks, developers, and government agencies, as well as raising public awareness of Islamic law, to maximize the effectiveness of the KPR program.