<![CDATA[The development of globalization and digitalization has transformed the way society interacts within the financial sector, one example being Sharia-based peer-to-peer (P2P) lending fintech in Indonesia. This transformation presents serious challenges to the protection of investors’ civil rights. This is reflected in the case of PT Dana Syariah Indonesia (DSI), which is alleged to have committed fraud, causing lender funds of more than Rp1.386 trillion while the total accumulated losses of all victims are widely reported to reach 2.4 trillion from tens of thousands of investors. Such circumstances indicate that current regulations and supervision have not been able to provide optimal legal protection. This study aims to analyze the types of civil rights violations against investors at DSI, the effectiveness of legal protection based on OJK Regulation No. 22 of 2023, and its compatibility with the principles of Maqasid Syariah, particularly hifdz al-mal (protection of wealth). The method used is normative juridical, employing a statutory and conceptual approach through literature study. The results show that DSI is suspected of committing eight types of investor rights violations, including a Ponzi scheme, fictitious projects, and fund transfers to affiliated entities. Investor protection in OJK Regulation No. 22 of 2023 is regulated both preventively and repressively; however, its implementation is hampered by information asymmetry and weak fiduciary duty. From the perspective of Maqasid Syariah, DSI’s practices contradict the principle of hifdz al-mal as they involve elements of gharar (uncertainty) and fraud. This study concludes that there is a need to strengthen fiduciary duty and enhance Maqasid Syariah based supervision in OJK regulations to ensure optimal and equitable protection of investors’ assets.]]>
