Indonesia Financial Services Authority seizes 41 assets in BPRS GP Islamic banking crime investigation

The Indonesia Financial Services Authority said its investigators have seized and secured 41 assets linked to a suspected Islamic banking crime at PT Bank Pembiayaan Rakyat Syariah GP in Medan, North Sumatra. The action forms part of an ongoing investigation and asset recovery effort. The seizure was carried out on June 17 and 18, 2026, after authorization from the local district court. The assets comprise land and buildings across North Sumatra, including eight buildings in Medan and Deli Serdang, 29 freehold land plots in Medan and Deli Serdang, two assets in Binjai, and two in Pangkalan Susu, Langkat. The investigation relates to suspected offenses at BPRS GP, whose business license was revoked on April 17, 2025, involving the former president director, identified as IP, and an end user identified as MIL. Based on the investigation, between October 2019 and March 2024 the reported parties allegedly falsified bookkeeping and banking transaction documents through 35 financing facilities in the names of 34 nominee borrowers, with a total ceiling of IDR 15.47 billion. The financing was allegedly approved using invalid identity and supporting documents and outside normal procedures, with disbursed funds allegedly used for personal purposes and to cover other troubled financing. OJK also found indications that part of the financing collateral had not been legally perfected and relied only on sale and purchase binding agreements, making asset tracing and seizure more important to support enforcement and recovery.