Road Map

Presidential Decree No. 1/2008 juncto with 19/2005 imposes limits activities that can be done by the Company. The main role of the Company is perfoming securitization transaction, but if the mortgage lender is not ready to do so, the Company can serve the provision of liquidity. This activity is limited until 2018. After that the company preferred to be a catalyst for the market with securitization activities and the provision guarantor programs for securitization and qualify debt securities of mortgage lender.


Intensive discussions by stakeholders of housing finance concerning establishment of a secondary mortgage institution.


The Ministry of Finance conducted a series of feasibility studies since 1993


Government issued the Minister of Finance of Republic of Indonesia Decree No.132/KMK.014/1998 that opened an opportunity for the establishment of a secondary mortgage institution, yet the result had not been implemented due to absence of shareholder candidates


On July 22, 2005, the Government established PT Sarana Multigriya Finansial (Persero) by virtue of deed No.59 and was duly published in the State Gazette of the Republic of Indonesia dated August 30, 2005, No.69 Supplement No.9263. The establishment of the Company was based on the Regulation of the Government of Republic of Indonesia No.5/2005 dated February 7, 2005, regarding the Government of Republic of Indonesia capital investment and Presidential Decree. No.19/2005 dated February 7, 2005 regarding Secondary Mortgages


The first lending transaction to a mortgage lender, PT Bank Tabungan Negara (Persero)


The first lending transaction to a multifinance company


  • The first loan disbursement to Regional Development Bank (RDB)
  • Government issued Presidential Decree No.1/2008 as Amendment to Presidential Decision No.19/2005 regarding Secondary Mortgages, particularly allowing the Company to provide lending for 10 years starting from the issuance date of the regulation, until 2018, with tenor up to 15 years.


  • The first securitization transaction conducted through public offering of Residential Mortgage Backed Securities (RMBS) and Listed at the Indonesia Stock Exchange.
  • The first issuance of the Company unsecured bonds through public offering.
  • The first financing facility to Shariah Bank.


  • Launching of fair market value of EBA in cooperation with PT Penilai Harga Efek Indonesia/ Indonesia Bond Pricing Agency (IBPA).
  • The first issuance of mortgage secured bonds through Public Offering.
  • The first issuance of MTN through private placement


  • Additional paid-up capital of Rp.1 Trillion
  • The first bond issuance with continous public offering scheme


  • The Participation Certificate is declared as securities by the Chairman of Bapepam LK based on the letter of Chairman of Bapepam LK No.11663/BL/2012 dated October 3, 2012
  • The first media award as "The State-Owned Enterprise which supports and Develops Sustainable Home Financing for People.


  • Establishment of Draft of Regulation on the RMBS - Participation Certificate by Financial Services Authority.
  • The First Award from the Public Housing Minister, the Republic of Indonesia as "Financial Institution Supporting Housing Finance Program."
  • Business Record from Daily News of Sindo & Tera Foundation, as "Company that Pioneers the implementation of Mortgage Securitization in Indonesia" - May 2013.
  • "Excellent" - Predicate in the Rating of 126 SOES of Infobank Award 2013 - September 2013.
  • Special Award as the Best Finance SOE among Finance SOE under the Ministry Finance - November 2013.


  • The issuance of Financial Services Authority Regulation concerning the Issuance and Reporting of Residential Mortgage Backed Securities - Participation Certificates (RMBS - SP) for secondary housing finance.
  • The first recognition from mass media in marketing through the achievement of "Bronze Award" for the category of "Strategic Marketing".
  • The first recognition from mass media for our President Director as "The Best CEO"
  • The Company received additional capital investment from the Republic of Indonesia that amounted to Rp.1 Trillion.
  • "Excellent" predicate in Rating of 126 SOES from Infobank Award in 2014.


  • Unveiling of SMF’s new logo on July 22, 2015, which marks a renewed spirit for the Company to heighten performance and realize its support for the One Million Houses Program
  • Total accumulated lending from the year 2006 to December 31, 2015 amounted to Rp14.93 trillion for 246,860 mortgage debtors, an increase of 32% from December 31, 2014 at Rp11.091 trillion.
  • The issuance of OJK Regulation No. 20/POJK.04/2015 regarding the Issuance and Requirements of Sharia Residential Mortgage Backed Securities.
  • SMF forged collaborative ties with the Indonesia Bond Pricing Agency (IBPA) to jointly establish a reasonable price for RMBS-PC.
  • SMF listed its Residential Mortgage-Backed Securities-Participation Certificates (RMBS-PC) at the Indonesia Stock Exchange for the first time amounted Rp200 billion.
  • National Seminar on the theme “One Million Houses Program for Increasing the Capacity to Channel Mortgage Loans” in cooperation with the Ministry
    of Public Works and Public Housing, Asbanda and followed by the signing of an MoU between the Ministry of Public Works and Public Housing, SMF and 7 (seven) Regional Development Banks (BPD).
  • The Company received additional capital investment from the Republic of Indonesia amounting to Rp1 trillion.
  • Predicate “Excellent”, for the financial performance during 2014 for the category of Finance Industry SOE at the Infobank BUMN Awards 2015 from Infobank magazine.
  • Awarded by the Indonesia World Records Museum for its Environmental Development Program for conducting a dental examination with the largest number of participants.
  • Earned a bronze medal for the Strategic Marketing Category at the BUMN Marketers Awards 2015 held by the BUMN Public Relations Forum & BUMN Insight Magazine.
  • Earned a bronze medal for Tactical Marketing for the BUMN Marketers Awards 2015 held by the BUMN Public Relations Forum & BUMN Insight Magazine.


  • Expanded the cooperation network with regional banks, including the Launch of Housing Finance Information System (HFIS) and the submission of SMF-RMBS SOP Document for BPD to the regional Development Bank Association (Asbanda).
  • The signing of an agreement with the Korea Housing Finance Corporation (KHFC), with regard to Research and Programs in the Housing Sector.
  • PKBL SMF Program, Dental Examination done in relay which broke the world record.
  • The issuance of Asset Backed Securities- Participation Certificate (RMBS-PC) “SMF-BMRI” at Indonesia Stock Exchange, a cooperation between SMF and Bank Mandiri.
  • Debut recording for Residential Mortgage Backed Securities-Participation Certificate (RMBS-PC) “SMF-BTN 02” at Bursa Efek Indonesia (BEI) with the rating of AAA by PT Pemeringkat Efek Indonesia (Pefindo).
  • The issuance of Presidential Decision No. 101 2016 which was an amendment to the 2nd Presidential Decision No. 19 2005, which opened up an opportunity for SMF to channel loans without any time limit, with a maximum loan term of 15 years.
  • The Company received additional government capital investment amounting to Rp1 trillion.