BPKH Proposes Raising Initial Hajj Registration Deposit to IDR 35 Million

The Executive Board of the Hajj Financial Management Agency (BPKH) has stated that the initial deposit for hajj registration should ideally be raised to IDR 35 million from the current IDR 25 million. This move aims to enhance the benefit value generated from hajj funds in the future. “In our Strategic Plan, the initial deposit should increase to IDR 35 million,” said Executive Board Head Fadlul Imansyah in Bandung on Friday. Fadlul explained that the scenario for raising the initial deposit should have commenced in 2024 and been implemented gradually until 2026 to deliver an optimal impact on hajj fund management. He elaborated that increasing the initial deposit would enlarge the managed funds, thereby boosting the benefit value produced. Conversely, if the policy is not implemented, the benefit value obtained in rupiah terms may not be as optimal as expected. “But if it does not happen, the assumption is we will receive benefit value in rupiah terms, but it will not be as optimal 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 stated that when SBSN prices decline, causing yields to rise, this condition actually creates an opportunity for BPKH to purchase investment instruments with higher returns. “If there is a price decline in SBSN, we will actually be very supportive and seek that opportunity. In doing so, we also help the government ensure that the yields on sharia securities are not too high,” he said. Regarding the possibility of raising the initial hajj deposit to IDR 35 million, Fadlul emphasised that the policy does not necessarily need to be specifically stipulated in the revision of the Hajj Financial Management Law. He said the determination of the initial deposit amount is the result of an agreement between the government and Commission VIII of the House of Representatives. “This increase does not automatically have to be enshrined in the law; it is an agreement, and the one who will set it is the ministry handling hajj affairs, not BPKH,” Fadlul stated.