OJK continues to monitor DSI's planned RUPD to ensure lenders' funds are repaid
Jakarta – The Financial Services Authority (OJK) continues to monitor the plan for the implementation of the General Meeting of Lenders (RUPD) for PT Dana Syariah Indonesia (DSI), to ensure the company fulfils its obligation to return lenders’ funds.
Agusman, the Executive Head of the OJK’s Supervisory Directorate for Financing Institutions, Venture Capital, Microfinance Institutions, and Other Financial Service Institutions (PVML), said the holding of the meeting was important to safeguard the company’s governance and ensure ongoing communication with the lenders.
‘OJK will continue to monitor closely the plan for the RUPD, including ensuring there is an authorised party to act and represent the company if the Board of Directors cannot convene the RUPD,’ Agusman said in an official statement received in Jakarta on Friday.
He noted that the regulator remains committed to supporting the law-enforcement process conducted by the Criminal Investigation Agency (Bareskrim) of the Indonesian National Police (Polri) concerning the fintech lending company.
Through earlier OJK examinations, indications of fraud were found at DSI, which were subsequently reported to the authorities.
To date, coordination with Bareskrim Polri continues, including tracing the company’s assets and/or other assets suspected of being connected with lenders’ funds, to support the process of recovering lender funds in accordance with applicable regulations.
In addition to the fraud allegations at DSI, OJK is also examining fraud allegations at several microfinance institutions (LKM), which are generally caused by weak governance and internal supervision.
Agusman also urged LKM to strengthen governance, risk management, and to implement the Financial Services Authority Regulation (POJK) Number 12 of 2024 on the Implementation of an Anti-Fraud Strategy for Financial Services Institutions.
Not only governance and fraud issues, OJK also found many LKM facing suboptimal business performance.
He noted that throughout 2025, 18 LKM had their business licenses revoked, with most requests for reinstatement filed following decisions of the general meeting of shareholders or members.
To safeguard the sustainability of LKM businesses, authorities recommended strengthening capital structure, both through internal performance improvements and seeking external funding.
‘Strengthening the capital structure of LKM is carried out in accordance with the regulations, including increasing capital contributions, improving business performance, and exploring prudent funding partnerships, while continuing to observe prudence and sustainability,’ Agusman said.