This research aims at investigating the potential of Bait al-Māl wa Tamwil (BMT) in the development of border areas of Indonesia-Malaysia by prioritizing the welfare approach. Primary data was obtained through in-depth interviews with respondents from academics, practitioners, and regulators. The Analytic Network Process (ANP) method and Benefit Opportunity Cost Risk (BOCR) network are used to review the interview results. The results reveal that BMT is able to help the development of the border areas. Moreover, the aspects of benefit and opportunity in exploiting BMT is more significant than the cost and risk aspects. There are three alternative strategies to be implemented in order to maximize the benefits and opportunities and also minimize the costs and risks, namely the capital of third parties, linkage programs, and special regulations