Ethis Reviews 

I am a Singaporean investor who has a big amount trapped across two defaulted Ethis projects managed via

- PT Sentosa Membangun Bangsa:

- PT Esa Jaya Sempurna (LAFIAU Laboratory Project - Dec 2020)

- Received only a partial payout in June 2021; the rest is missing despite official military airworthiness certification.

PT Global Telematika Utama
(PT Len Tower Project - Nov 2020)

- Completed defaulted with zero payouts.

The platform has quietly closed down while the founder has launched a new entity, HASAN.VC.

I am preparing a comprehensive file for the Commercial Affairs Department (CAD) Singapore and the Otoritas Jasa Keuangan (OJK) Indonesia to investigate transnational corporate asset stripping and breach of wind-down duties.

If you are an investor in either of these two specific projects, do not let them walk away.

Please contact me immediately via email as leaving contact details are not allowed in this section

Plateforme ne répond plus. C'est une arnaque. Je n'ai jamais reçu de dividendes de mes deux investissements. C'est malheureux pour un pays comme la Malaisie.
Accelerate Global : MYR 1000
Sihate : MYR 1750

Multiple Failed projects, severely Delayed projects, very poor to no communication whatsoever. would not recommend at all, stay away. Taking advantage by using the words islamic and ethical to lure investors and then don't act accordingly. have reached out multiple times to admin team and to the founder but to no avail.

This is my second review. Nothing has changed and the entire Ethis and Hasan team are completely off on communication and is now also removing project updates from the website.

Fraud, empty promises, pyramid scheme or complete and utter incompetence? Either way, do not do business with these individuals. They have no interest in community build, making strong halal investment or actually doing good.

No communication, no project updates, no action plans, no living up to promises, holding back investment money that they claim has arrived, completely closes communication channels and ignores the complete frustration of investors who have lost millions of dollars in supporting halal investment opportunities.

I strongly recommend to stay away from Umar Munshi, Ronald Wijaya and anyone involved in Ethis and or Hasan.VC

If I could give 0 stars I would and it would be about their complete lack of communication and follow ups.

When reviews are bad, then they come to the table and talk. Then they host a webinar and after that it is complete silence again, even though they make promises about follow ups.

The most incompetent organization I have ever worked with and they have stolen millions of dollars from investors and have completely abandoned Ethis while going around promoting Hazan VC which are the exact same people.

Here is a list of issues they have:
1 - Gave money to developers without proper documentation or validation of the receiving party
2 - Several of their developer network have ended up in jail (claimed in jail) and Ethis is sitting back and doing nothing about it.
3 - They take decisions about investors money to drastically reduce the investment outcomes by 50% without involving or asking investors and then claim that they are just a platform to engage developers with investors
4 - They make promises that are never kept. They take weeks on end to answer to an email. They block you on whatsapp and social media to avoid having noise, while investors are left behind.
5 - Munshi and team are hands off and has been utterly disapointing to work with. They seem completely oblivious about how to own up to challenges, how to communicate and put simple action plans together and comes across as having given up on investors money simply because they are already on towards other things. Millions are lost or still caught up in legal disputes, police reports.

Gross negligence from Ethis team and owners is the only way to explain the complete massive issues with now 5 years delayed projects.

Do NOT do business with these individuals. They are more interested in stage time and look like they are industry experts, but ultimately they are not competent at the most basic requirements to run a business.

Most projects failed and investors lost millions!

The team has moved on from Ethis.co to a new project called Hasan.vc while investors in the previous project have lost millions.

There is no communication or update on the projects and there seems to be no effort towards the recovery of the investor funds.

Comme beaucoup d'autres investisseurs, je n'ai plus aucunes nouvelles depuis plus d'un an, et je ne peux plus accéder à mon dashboard non plus !

Attention, derrières leurs fausses promesses halal se cachent des arnaqueurs peu scrupuleux !

No updates at all from ethis regarding my investments from 2023. Big disappointment

I have invested in multiple projects on Ethis.co, spanning durations initially projected to be between 3 to 6 months and up to 3 years. Regrettably, after several years, I have yet to receive any payments or returns on these investments. Worse still, communication from the Ethis team has ceased entirely. Emails and WhatsApp messages remain unanswered, leaving investors like myself in the dark about the status of our funds and the projects.

It’s deeply concerning that a platform claiming to operate with transparency and ethical principles has allowed such a situation to persist. Looking through the reviews left by other users, it is evident that these issues are not isolated incidents. There are complaints spanning multiple years, all pointing to the same problems: delayed or nonexistent payments, lack of accountability, and a complete communication breakdown.

If these projects are facing challenges, the logical step would be to resolve the outstanding issues before taking on new ones. However, Ethis appears to have continued onboarding new projects despite failing to address their existing obligations. This behavior raises serious questions about their business practices and priorities.

Particularly troubling is the way Ethis seems to exploit religious values as a marketing strategy. Many investors, myself included, were drawn to the platform because of its claims to adhere to ethical and Islamic finance principles. Unfortunately, this trust has been betrayed, leaving a bitter sense of disillusionment.

The CEO, Umar Munshi, and his team must be held accountable for the platform’s failures. The lack of updates and complete silence from their end speaks volumes about their commitment to investors. At this point, their actions—or lack thereof—are indistinguishable from those of scammers.

To those considering investing in Ethis, I strongly advise against it. Until they can demonstrate transparency, address past grievances, and fulfill their obligations to existing investors, Ethis.co should not be trusted.

It’s crucial for authorities and regulatory bodies to investigate Ethis and hold them accountable for their actions. Investors deserve better than this.

It’s been 3 years since I was supposed to receive payout. And I still don’t have my money back. The project updates have slowed and become just a few photos.

Even worse. They’ve basically stopped responding to investors over their WhatsApp support. And I’m still waiting for a response from the maryam email address they keep giving everyone reviewing them.

I doubt I’ll get my money back. Please avoid anything to do with Ethis. They seem to have forgotten their original investors and are now moving into scams like HassanVC.

This is my second review, Ethis team and now operating under Hasan VC as well does not take any responsibility for any project after taking money from investors, they stopped even providing the update. When I ask for updates either there's robot on the other side giving standard questions not answers or no answer at all. I have invested in two projects several years ago as lead investor, both no update, the Ethis member taking time responding to these reviews, doesn't take the same time to respond to investors. Shame on you.

My only mistake was to trust them. All the awards, Board of Directors line ups, SSM endorsement etc. were just part of marketing campaign to deceive Muslims looking for investment alternatives. Those invested in 2019 and before lost most of their capitals. Nowadays, they market themselves as a platform in order to avoid from being responsible for all their bad business decisions and poor project management. Putting your money into fixed deposits is way worthy than to invest with them.

More than 95% of the projects were successful but investing in single projects was risky because all it takes is a few or even one failed project to have a bad investing experience. This was the old ethis strategy which they have pivoted away from. Now there are funds that are managed that have multiple projects, to account for any possible delayed or failed projects.
The best thing about ethis is that they listen and they adapt. I'm patiently waiting for the next available fund to invest in. Keep up the great work!

An aternative to do islamic compliance (shariah) investment. all the staffs are also very helpful. However everyone invested in islamic projects needs to fully understand abt the concept of profit and loss sharing.

May Allah blessed everyone with the good intentions !

As we acknowledge ourselves that investment is really risky, and that's normal because investment having different trouble and mistakes. hoping if there is some issues, ethis will solve it asap.

Don't believe the hype, the awards, the social media posts, religious posts, and collaborations.

See reviews 4rm genuine investors whose money has been stuck fpr over 7 years in unvetted projects by Ethis /Umar Munshi / Ronald Yusuf Wijaya /HASAN VC

Disgraceful that Ethis / Hasan VC continue to advertise unvetted investments when investors are suffering.

Invested in several Ethis/Munshi projects (Baytuna R, Casavera D, Mutiara M, Taman M). All projects delayed by 4-5 years. Ethis do not vet projects. Umar Mushi takes commission/salary and then rejects any responsibility. Continuous delays, excuses, issues & lack of accountability. Useless updates from Ethis and poor execution of projects. Consider carefully before investing. Ethis respond to critical reviews with offers to "get in touch" but they take their commission and they really don't care.

Disgruntled investors from Ethis/Hasan VC should:
- Contact Ethis Investors Action Group
- Contact Hammam (Marshal) Alkouz , MBA, PMP, RMP, PMO-CP, LSSBB, PRINCE2, CPPP on LinkedIn for more information
- Leave negative reviews for Ethis, Umar Munshi, Ron Wijaya, Hasan VC on all social media platforms & warn others.

Simply great people with a clear vision to create and share wealth with the community.

The level of incompetence is staggering! I invested here as they were affiliated with 'Kapital Boost' which has been a reliable halal investment in my experience.

There have been projects delayed by 4 years with no meaningful update for the past 3. They would send a slightly different version of the same content every month as an update.

I have spoken directly with their CEO, Mr Umar Munshi about 2 years ago who went on to reassure that they had some hiccups due to COVID and now they have staff to follow up on the delays. Absolutely nothing has changed since then. (I was even foolish enough to invest more to show the br some encouragement)

Now he's moved on to touting his other venture 'Hasan' and keeps busy with other speaking activities. Happy to discuss with a group if any legal action can be taken to hasten or recover funds

Update: we have a large and thriving WhatsApp group full of disgruntled investors, you can sign up by looking for me or "Hammam (Marshal)
Alkouz"on LinkedIn

Update March'20: Ethis is threatened by the new band of disgruntled investors posting on trust pilot (check their reply below) Happy to provide 5 years of failed commitments and empty promises if required

Ethis stands out as a trailblazer in Fintech for Islamic finance, capturing investment enthusiasm. Their diverse licenses across multiple countries highlight a commendable level of regulatory trust, solidifying their position as a key player in Southeast Asia and the Middle East. Ethis's proactive exploration of new platforms aligns with the evolving global finance landscape, presenting enticing investor opportunities.

I am compelled by Ethis's vision for ethical finance and its ability to attract significant backing instils confidence. The prospect of joining Ethis on their journey excites me, foreseeing a meaningful contribution to ethical finance and a positive, sustainable global impact. #circulategood

May Allah bless and all the best!

It's quite challenging to find an investment company these days that truly operates in accordance with Islamic principles, akin to Ethis. Ethis stands out in the Islamic Finance realm by conducting a genuinely Shariah-compliant, ethical, and impact-driven business, aiming to contribute to the financial well-being of the Ummah through its values and long-term vision. May Allah grant them continued success and bless their exceptional business.