Haj funds may be invested in Infrastructure Development
By : Aldo Bella Putra | Sunday, July 30 2017 - 17:30 IWST

5166
INDUSTRY.co.id - Jakarta-Minister of Religion Lukman Hakim Saifuddin said that the deposit fund for Hajj Operation Cost (BPIH) may be managed for productive things, including infrastructure development. This permit refers to the constitution as well as the jurisprudence.
"Haj funds may be used for infrastructure investments as long as complying with sharia principles, full of prudence, clearly yielding benefits, in accordance with legislation, and for the benefit of pilgrims and the wider community," said Minister of Religion Lukman in Jakarta on Saturday (29/07/2017).
Minister of Religion cites the results of Decision Ijtima Ulama Fatwa Commission of Indonesia in 2012 on the Status of Ownership Fund BPIH Deposit Signing Waiting List (Waiting List). It is stated that BPIH deposit funds for hajj candidates which include waiting lists in the accounts of the Minister of Religious Affairs may be tasharrufed for productive matters, such as placement in syariah banking or invested in sukuk.
The result of the investment belongs to the prospective pilgrims. The manager is entitled to get a reasonable reward / not excessive. However, BPIH funds may not be used for any purpose except to finance the related purposes.
Fatwa is also in line with the rules of law related to the management of pilgrim funds. Law No. 34 of 2014 provides that BPKH as the Deputy will receive a mandate from the Hajj pilgrims as Muwakkil to receive and manage the deposit funds of BPIH.
The mandate is an implementation of a wakalah contract stipulated in a Cooperation Agreement between the Directorate General of Hajj and Umrah Implementation, Ministry of Religious Affairs, and BPIH Recipient Banks regarding receipt and payment of BPIH.
Akad wakalah signed every prospective pilgrim when paying the initial deposit BPIH. Through the wakalah agreement, the Hajj pilgrims as Muwakkil authorize the Ministry of Religious Affairs as the Vice to receive and manage the initial deposit funds of BPIH that have been deposited through BPIH Deposit Receiving Bank (BPS) in accordance with applicable laws and regulations.
Law 34/2014 mandates financial management of pilgrimage implemented by BPKH. This body is authorized to place and invest Hajj finances in the form of banking products, securities, gold, direct investment and other investments. The value of benefits (yield) on the results of haj financial management is intended for the greatest importance of pilgrims.
However, investments made by BPKH should also consider the security, prudence, benefit, and liquidity aspects as well as compliance with sharia principles. This is because the pilgrimage fund is a community fund that will carry out the pilgrimage.
"Furthermore, the executing agency and the supervisory board of BPKH are jointly responsible if there is a loss of investment caused by mistakes and / or negligence in the management," said the Minister of Manpower as stated in the press release.
Read Also
Jababeka Bizpark Officially Conducted Groundbreaking and Ready for…
Gov’t to Continue Disbursing Rice Assistance
The Indonesian Embassy in Cairo Receives Aid for Palestine
President Jokowi Inaugurates Soedirman National Defense Central Hospital
Celebrating 65 Years of Indonesia - Cambodia Relations: Indonesian…
Today's Industry

Jumat, 02 Mei 2025 - 10:46 WIB
Binawan and Government Support Indonesian Nurses in Europe through Scholarships
In the midst of the viral #KaburAjaDulu hashtag as a symbol of the young generation's disappointment with domestic working conditions, Binawan responded with real action: dispatching Indonesian…

Jumat, 28 Maret 2025 - 22:21 WIB
SUNeVision Initiates MEGA IDC Phase Two Development
SUNeVision, the technology arm of Sun Hung Kai Properties (SHKP), today announced the commencement of construction for Phase Two of MEGA IDC in Tseung Kwan O. As Hong Kong's largest data centre…

Jumat, 28 Maret 2025 - 22:07 WIB
TDL Records New Revenue Record of IDR 25 Trillion in 2024 Ahead of 50th Anniversary
PT Metrodata Electronics Tbk (MTDL), the largest technology Company with the most complete IT and telecommunications products in Indonesia, managed to record a revenue of IDR 25 trillion in…

Jumat, 28 Maret 2025 - 22:00 WIB
Wireless Logic Selected By Thales As IoT Connectivity Partner
Wireless Logic, a global leader in IoT connectivity solutions has been selected by Thales, a global leader in advanced eSIM technologies, to enable secure, scalable and resilient IoT connectivity…

Jumat, 28 Maret 2025 - 21:53 WIB
Microvista Expands International Presence with Mobile CT System ScanExpress
The German specialist in industrial computed tomography and non-destructive testing, Microvista, announces the European expansion of its innovative mobile CT system, ScanExpress. The system…
News Comment