Sharia Board

DR. KH. Ma’ruf Amin


Indonesian citizen, born in Tangerang on March 11, 1943. He graduated with an S1 Degree from Fakultas Ushuluddin, Universitas Ibnu Kholdun, Jakarta in 1967. He earned a degree Honoris Causa in Sharia Economic Law in the Postgraduate Program, Universitas Islam Negeri Syarif Hidayatullah, Jakarta, in 2012.

In addition to serving as the Chairperson of the Sharia Supervisory Board (DPS) with BSM, he serves as the Chairperson of the DPS in several Islamic Financial Institutions (Sharia Banks, Sharia Insurance and Sharia Investment) in Indonesia; the Advisory Board of the President of the Republic of Indonesia, and serves as the Chairperson of the Indonesian Ulema Council (MUI) for 2015-2020; the Chairperson of the National Sharia Council of the Indonesian Ulema Council (DSN MUI) since December 2014 to the present, and is active as a speaker at the National and International Sharia Economic forums.

Dr. H. Mohamad Hidayat


Indonesian citizen, born in Jakarta, May 3, 1967. He graduated from Fakultas Syariah IAIN Jakarta in 1991, with S-2 (MBA) degree from IPWI Jakarta and S-2 degree from Sekolah Tinggi Ilmu Hukum Institute at Business Law & Legal Management (IBLAM), Jakarta, in 2003. S-3 degree in Islamic Economic and Finance at Universitas Trisakti, Jakarta, in 2014.

In addition to serving as a Member of the BSM’s Sharia Supervisory Board, he serves as the Executive Officer of the National Sharia Board (BPH DSN) with MUI, the Sharia Economic Community Expert Council (MES), PSTTI University of Indonesia, Postgraduate Program Lecturer and Trisakti University Islamic Economic Finance (IEF). In addition, he is active as a supervisor and advisor in several Islamic financial/non-financial institutions, the regular preacher of the Presidential Palace and the Vice President of the Republic of Indonesia, as well as the Chairperson of the Al-Washiyyah Foundation and the book author.

Dr. H. Muhammad Syafii Antonio, M. Ec


Indonesian citizen, born in Sukabumi, May 12, 1967. He earned a PhD in Micro Finance from the University of Melbourne, Australia, in 2004. A Master’s degree in International Economics from Islamic University (IIU), Malaysia, in 1992. S1 degree in Sharia and Islamic Law from the University of Jordan. He wrote 35 books in finance, banking, leadership and management.

Prior to serving as a Member of the BSM’s Sharia Supervisory Board, he served as a Sharia Banking Development Expert Committee with Bank Indonesia, a Member of the Executive Board of the National Sharia Board with MUI and Rector of Tazkia University College of Islamic Economics. He also served as the Global Sharia Advisor in Dubai, the Kuala Lumpur Sharia Banking Expert Committee and Bank Indonesia. In 2010, he was appointed by the President of Indonesia a Member of the National Economic Committee, and in 2016, mandated to sit in the National Economic and Industrial Committee.

The Sharia Supervisory Board (DPS) supervises the BSM operations independently. DPS is stipulated by the National Sharia Board (DSN), a body under the Indonesian Ulema Council (MUI). All the product guidelines, bank services and operations have been approved by DPS to ensure the compliance with the Islamic sharia principles.

Dr. KH. Ma’ruf Amin



Dr. H. M. Syafi’i Antonio, M.Ec


Dr. H. Mohamad Hidayat


Duties and responsibilities of the Sharia Supervisory Board:

  1. To provide advice and recommendation to the Board of Directors, and supervise the activities of the Bank in order to comply with the Sharia Principles
  2. To assess and ensure the compliance with the Sharia Principles on the operational guidelines and products issued by the Bank
  3. To supervise the Bank's new product development process
  4. To seek a fatwa from the National Sharia Board for new Bank products that are not fatwa-based
  5. To conduct periodic reviews on the compliance with the sharia principles with respect to the mechanism of fund raising and fund distribution as well as Bank services
  6. To request data and information in connection with the sharia aspects from the Bank's working units in the scope of performance of their duties.