This study discusses strategies for strengthening the management of Surat Berharga Syariah Negara (SBSN) to improve the effectiveness of madrasah development at the Madrasah Education Division of the Regional Office of the Ministry of Religious Affairs of East Java Province. The research was motivated by the importance of effective management in supporting educational infrastructure development through SBSN financing. The objective of this study is to analyze the management process of SBSN, identify obstacles encountered during implementation, and formulate strengthening strategies to enhance development effectiveness. This research employed a qualitative descriptive approach. Data were collected through semi-structured interviews and documentation related to SBSN program implementation. The collected data were analyzed using the Miles and Huberman model, including data reduction, data presentation, and conclusion drawing. The results indicate that SBSN management has implemented management functions consisting of planning, organizing, implementation, supervision, and evaluation supported by digital systems such as SISPSS and SI-SBSN. However, several obstacles were identified, including technical issues, budget limitations, administrative reporting problems, and external community-related factors. Strengthening strategies proposed include improving human resource capacity, optimizing digital systems, strengthening coordination among stakeholders, and enhancing monitoring and evaluation processes. These strategies are expected to improve the effectiveness, efficiency, and accountability of SBSN management in supporting quality madrasah development.