DSN MUI Hopes Danantara Syariah Will Be Established Next Year
Jakarta, CNBC Indonesia — The National Sharia Council of the Indonesian Ulema Council (DSN MUI) hopes the establishment of Danantara Syariah can be realised next year. The proposed entity, under the BPI Danantara superholding, is expected to coordinate and manage sharia businesses within Danantara more specifically.
K.H. M. Cholil Nafis, chairman of the DSN MUI executive board, said discussions had been held with Danantara chief executive Rosan Roeslani at the end of last month. The meeting also involved several relevant parties and addressed how to optimise the development of sharia businesses, including plans to establish Danantara Syariah.
“Towards the end of last month, we met with Mr Rosan as Danantara’s CEO. We also met with MES, BPS and KNIKS, along with several other relevant parties. We discussed how to maximise sharia, including the establishment of Danantara Syariah. The discussion was not concluded, and he promised it would be examined more intensively and specifically,” Cholil said after the 22nd Itjima Sanawi 2026 at the Mercure Harmoni Hotel on Tuesday (20 October 2026).
Cholil explained that establishing Danantara Syariah would not require a separate entity or a new law. It could instead be created as a holding company under Danantara’s superholding to coordinate sharia-based businesses.
“Does it actually require any regulatory changes? It can simply be established. Danantara has its holding structure, then the superholding, and Danantara Syariah could be the holding company for sharia finance. At present, there is no one in Danantara specifically responsible for sharia. We are simply asking for someone under Danantara’s superholding to manage sharia matters,” he said.
He added that Danantara Syariah would be needed to coordinate sharia businesses across several sectors, including banking, insurance and capital markets. At present, Cholil said, Danantara has no dedicated unit specifically handling these businesses.
DSN MUI is waiting for Danantara to provide an update on the discussions. Cholil said his organisation would also remind Rosan to resume talks on establishing Danantara Syariah, while preparing input to support Danantara’s internal review.
“We are waiting to hear from him. If he forgets, perhaps we will remind him so the matter can be discussed again. Some issues may still be under review by his team. The previous discussion was not concluded, so it will be considered internally, and we will also contribute our thoughts,” he said.
Cholil hopes the process can be completed in 2027. He said the plan depends on a decision by Danantara’s leadership and the President’s approval, since the proposed entity would form part of Danantara’s internal structure rather than being a standalone body.
“I hope so, and I pray for it. It essentially comes down to a decision by Mr Rosan and approval from the President. No new law is needed. It would sit under Danantara’s superholding. We are not establishing a separate body; we are simply asking for a holding under Danantara to manage sharia matters,” he said.
Cholil added that he has not identified any fundamental obstacles to the proposal. The main issues requiring follow-up, he said, concern organisational structure, the division of responsibilities and coordination within Danantara.
“There do not seem to be any obstacles. It is a matter of lines of coordination and responsibilities. Once Mr Rosan’s review is complete, the structure may be drawn up, perhaps with the relevant people already in mind, and then established by presidential decision,” he concluded.