OJK Seizes 41 Assets of Sharia Rural Bank in North Sumatra Amid Alleged IDR 15.47 Billion Fraud Scandal
Jakarta, CNBC Indonesia - The Financial Services Authority (OJK) has seized and secured 41 assets suspected to be connected to criminal acts in sharia banking at PT Bank Pembiayaan Rakyat Syariah (BPRS) Gebu Prima in Medan, North Sumatra. The seizure was carried out as part of the investigation process and an effort to recover the bank’s losses.
According to an official statement on Sunday (21/6/2026), the OJK explained that the seizure took place on 17-18 June 2026 after obtaining a court order from the local district court. The move was intended to secure evidence and optimise the return of assets believed to originate from the criminal acts.
The 41 seized assets consist of land and buildings spread across several areas in North Sumatra. The details include 8 buildings in Medan City and Deli Serdang Regency, 29 plots of land with Freehold Certificates (SHM) in Medan City and Deli Serdang Regency, 2 assets in Binjai City, and 2 assets in Pangkalan Susu, Langkat Regency.
The OJK revealed that the investigation found indications that some financing collateral was not perfectly bound according to legal provisions. Several collaterals only used a Sale and Purchase Binding Agreement (PPJB) instrument, making the tracing and seizure of assets crucial to ensure effective law enforcement and loss recovery.
This case is related to an alleged sharia banking crime that occurred at BPRS GP, whose business licence was revoked by the OJK on 17 April 2025. The case involves a former President Director with the initials IP and an end-user of funds with the initials MIL.
Based on the investigation results, from October 2019 to March 2024, the reported parties allegedly made fictitious entries in the books and transaction documents of the bank through the provision of 35 financing facilities under the names of 34 nominee customers, with a total ceiling reaching IDR 15.47 billion.
The financing was allegedly granted using invalid identity documents and supporting documents, and did not follow the applicable financing procedures. The disbursed funds were allegedly used for personal interests and to cover other non-performing financing, thereby affecting the bank’s financing quality.
For their actions, the reported parties are suspected of violating criminal provisions as stipulated in Law Number 21 of 2008 concerning Sharia Banking, as amended by Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK), as well as other related criminal provisions.
The OJK emphasised that the successful seizure of the assets was the result of synergy and coordination with the Indonesian National Police, the Attorney General’s Office, the Courts, and the Indonesia Deposit Insurance Corporation (LPS). The OJK also confirmed that it will continue to optimise asset tracing and law enforcement against perpetrators of criminal acts in the financial services sector to maintain industry integrity, protect the public, and strengthen trust in the national financial system.