Touching IDR 158.3 Trillion, Minister Of Religion Yaqut Reminds Hajj Funds Not To Disappear Due To Wrong Management

Deputy Minister of Religion of the Republic of Indonesia Saiful Rahmad Dasuki when reading the remarks of the Minister of Religion of the Republic of Indonesia Yaqut Cholil Qoumas at the opening of the BPKH national seminar at Syiah Kuala University Banda Aceh, Thursday (14/9/2023). (ANTARA/Khalis Surry)

ACEH - Minister of Religion Yaqut Cholil Qoumas reminded that the Rp158.3 trillion hajj funds at the Hajj Financial Management Agency (BPKH) are managed by prioritizing the principles of prudence, security, transparency, and accountability. "Don't let the hajj funds go away because of mismanagement. Like what happened some time ago at the financial management company, ” Yaqut said in a speech read by the Deputy Minister of Religion of the Republic of Indonesia Saiful Rahmad Dasuki during the opening of the BPKH national seminar at Syiah Kuala University, Banda Aceh, Antara, Thursday, September 14. The national seminar organized by BPKH has the theme "Beiver to the Ummah: Revitalization of the Role of the Hajj Financial Management Agency Towards Professional, Transparent and Accountable Hajj Financial Management". Hajj funds have always been a concern, because the amount is very large and fantastic, which is around Rp. 158.3 trillion according to BPKH data until July 2023. This fund is intended for Hajj services whose time has been determined. Another peculiarity of hajj funds, he said, is having a long tenor, all the time waiting for pilgrims. If there are pilgrims making deposits earlier this year, the hajj funds can only be used in the next decades when the congregation is about to go for Hajj. Moreover, the waiting period for the departure of Indonesian pilgrims currently reaches a maximum of 49 years and the average waiting period for pilgrims nationally is around 26 years. " “ Therefore, what I need to emphasize is the principle of prudence, security, transparency, and accountability in managing it (hajj funds)," he said. He added that BPKH as the manager of hajj funds is required to provide the highest value of benefits to support better and more quality Hajj organizers. With the high value of benefits, BPKH can provide higher results to virtual accounts of pilgrims and support the financing of Hajj Implementation Fees (BPIH) every year. "On the other hand, high value of benefits will give prospective pilgrims confidence not to hesitate in registering for Hajj and making initial deposits," he said. To get higher value of benefits, BPKH is also asked to be more daring to make breakthroughs and invest directly. “ Out of conventional placement patterns such as Sukuk and deposits. Dare to enter the real sector, it doesn't have to be in Saudi Arabia, because there are also many investment opportunities in the country, ” he said. Previously, BPKH managed hajj funds to reach Rp158 trillion until July 2023, which was placed in the safest investment in order to provide optimal value of benefits for pilgrims. " “ As of July 2023, the Hajj funds managed by BPKH amounted to Rp158 trillion,” said Deputy for the Secretariat of the Agency and Benefits of BPKH Juni Supriyanto. Of the total funds, 75 percent of hajj funds are placed in investment in the form of state sharia securities and other direct investments, namely BPKH owns a subsidiary, PT Bank Muamalat Indonesia. " “ So, BPKH made direct investment in Bank Muamalat Indonesia with 82 percent ownership (share) of the bank's shares," he said.

The rest, hajj funds are placed in 30 Islamic banks throughout Indonesia, which reached around Rp40 trillion.