BPKH Invest Rp37.9 Trillion of Hajj Funds on Government Sharia Securities

The Hajj Fund Management Agency (BPKH) assures that the management of hajj funds is carried out optimally, professionally, transparently, efficiently, and non-profit as well as according to sharia law.

“If there is remaining funds at the end of the hajj financial year, it will be returned to the pilgrims,” said Head of Communication and Public Relations Division of the BPKH Tanti Widia in a press release on Thursday (18/10), in respond to a number of questions regarding the use of Hajj funds for infrastructure development.

According to Tanti, Ministry of Religious Affairs and the BPKH since 2009 have invested hajj funds through Government Sharia Securities (SBSN) including the Indonesian Hajj Funds Sukuk (SDHI) with an outstanding worth Rp37.9 trillion per June 2018.

“According to the statement from Ministry of Finance on 30 November 2017, the issuance of SDHI series of SBSN is used for general financing in the State Budget and is not earmarked for financing infrastructure project,” Tanti said.

Tanti emphasized that the management of hajj funds by the BPKH is carried out transparently, published and audited by the Supreme Audit Agency (BPK) and supervised by the House of Representatives (DPR). So, she guarantees that the invested hajj funds will remain intact and nothing is reduced.

“The Government always returns the main value of hajj funds at the due date and provides timely and accurate returns,” Tanti added.

Regarding the value of benefits for pilgrims, Tanti said that the pilgrimage fee for departing pilgrims is financed from the initial deposit and full payment of the related pilgrims, and the value of benefits and the results of the placement and investment of hajj funds.

The use of benefits for the departing pilgrims, according to Tanti, is in accordance with Law Number 23 of 2008 on Hajj Management.

As from 2018 according to Law Number 34 of 2014 on Hajj Financial Management, Tanti continued, part of the value of benefits is also allocated to the waiting pilgrims in the form of a virtual account.

“The Government and BPKH guarantee that the pilgrims who depart will get adequate services, and they will be obtained all their financial rights. While the waiting pilgrims get a portion of the benefit value in the form of virtual account, and there is no implementation of the Ponzi system,” Tanti said.

The management of hajj funds by BPKH is carried out carefully, safely, and not inflict a financial loss to the departing pilgrims and the waiting pilgrims, Tanti concluded. (EN/Humas BPKH/ES) (GWH/YM/Naster)