Thousands of Members Lose Rp1.4 Trillion, Indonesian Syariah Fund Association Complains to the DPR

JAKARTA - Chairman of the Paguyuban Lender PT Dana Syariah Indonesia (PT DSI) Ahmad Pitoyo reported that the losses suffered by 4,898 lender members reached IDR 1.4 trillion.

"All lenders who are informed from DSI total 14,098 lenders, with a total investment obligation of Rp. 1,470 trillion. As of January 14 (2026), those included in the Paguyuban were recorded at Rp. 1,408 trillion, with a total of 4,898 lenders, almost 95 percent were included in the paguyuban," said Ahmad in a Working Meeting, Public Hearing Meeting and Public Hearing Meeting of Commission III of the DPR with OJK, PPATK and LPSK in Jakarta, Thursday, January 15, reported by ANTARA.

Ahmad explained that his party had been facilitated by the Financial Services Authority (OJK) to meet with PT DSI on October 28, 2025, and an agreement was reached to make a return proposal.

After that, the lenders met again with PT DSI without the assistance of the OJK, and an agreement was reached on the return.

"There is an agreement, he (PT DSI) formed an agreement with us, he will return 100 percent of the lender's funds within one year," said Ahmad.

However, in its realization on December 8, 2025, PT DSI only returned 0.2 percent of the total funds from each lender.

After that, Ahmad explained that PT DSI and PT DSI had an agreement to regularly hold zoom meetings every weekend.

However, on December 27, 2025, there was no zoom meeting, in which PT DSI conveyed a letter to the lenders that only had assets worth IDR 450 billion, which were not in the form of ready cash.

"So the Rp450 billion will be divided. But this is not in the form of ready cash, but in the form of a source of return. The first of the borrower is divided into two, from the borrower who is smooth and the borrower who is stuck," said Ahmad.

After that, Ahmad said the lenders found assets owned by PT DSI not worth Rp450 billion.

"The last one is the assets of buildings and offices where it is estimated to be around Rp. 45 billion to Rp. 50 billion. And the last one is an asset that requires a legal process, according to his letter (PT DSI). We don't know the promise from DSI to carry out RUPD at the end of January 31 (2026) tomorrow. In the middle of January, a mechanism will be created on how RUPD is in accordance with OJK," said Ahmad.

The lenders finally met again with the OJK on December 30, 2025, where they found out that PT DSI actually made a report to the police.

"The last bad news is that it has been reported to Mr. Ade to the Criminal Investigation Unit, the DSI has made a false report. Well, we lenders are ready to make an LP but we will hold it first, thank God we are being facilitated here," said Ahmad.

On this occasion, OJK ensured that it would continue to monitor the case of fraud committed by PT DSI.

The Head of the Executive of the Financial Institution Supervisory Board, Venture Capital Company, Micro Finance Institution and Other Financial Services Institution (PVML) of the OJK, Agusman, revealed that his party had reported PT DSI to the Criminal Investigation Agency of the National Police of the Republic of Indonesia (Bareskrim Polri).

In addition, OJK has also asked the Financial Transaction Reporting and Analysis Center (PPATK) to trace transactions carried out by PT DSI.

From the results of the examination, PPATK has blocked as many as 33 accounts affiliated with PT DSI, with funds remaining in the account worth Rp4 billion.