BPKH Proposes Raising Initial Hajj Deposit to IDR 35 Million, Here's Why

The Hajj Financial Management Agency (BPKH) has proposed raising the initial hajj registration deposit from IDR 25 million to IDR 35 million. BPKH stated the proposal has been incorporated into its strategic plan, arguing that IDR 35 million is the ideal figure to enhance the value benefits obtained from hajj funds in the future.

“In our Strategic Plan, the initial deposit should be increased to IDR 35 million,” said Head of the Executing Agency Fadlul Imansyah in Bandung on Friday (12/6), as quoted by Antara.

Fadlul said the scenario for increasing the initial deposit should have begun in 2024 and been implemented gradually until 2026 to deliver an optimal impact on hajj fund management. He explained that raising the initial deposit would enlarge the managed funds, thereby increasing the value benefits generated. Conversely, if the policy is not implemented, the nominal value benefits obtained in rupiah may not be as optimal as expected.

“But if it doesn’t happen, the assumption is we will obtain value benefits in rupiah terms, but not as optimally as hoped,” Fadlul said.

From an investment perspective, he noted that rising yields in the financial market also present an opportunity for BPKH to achieve better management returns, particularly through Sovereign Sharia Securities (SBSN) instruments. Fadlul explained that when SBSN prices decline, causing yields to rise, this condition actually becomes an opportunity for BPKH to purchase instruments with higher returns.

“If there is a price decline in SBSN, we will be very supportive and seek that opportunity. In doing so, we also help the government ensure the yield on sharia securities does not become too high,” he said.

Regarding the possibility of raising the initial hajj deposit to IDR 35 million, Fadlul stressed that the policy does not need to be specifically stipulated in a revision of the Hajj Financial Management Law. According to him, the determination of the initial deposit amount is the result of an agreement between the government and Commission VIII of the House of Representatives (DPR RI).

“This increase does not necessarily have to be enshrined in law; it is merely an agreement, and the party that will set it later is the ministry handling hajj affairs, not BPKH,” Fadlul said.