BPKH Supervisory Board: Optimisation of Hajj Fund Benefits Below Target

The Supervisory Board (Dewas) of the Hajj Financial Management Agency (BPKH) has highlighted that the realisation of value benefits and investment yields for hajj funds from January to May 2026 remains below the annual target ceiling.

Dewas Chairman Firmansyah N. Nazaroedin, during a hearing with House of Representatives Commission VIII in Jakarta on Tuesday, stated this has become a primary focus for the supervisory board in maintaining accountability in hajj financial management.

“Based on the supervisory report summary for the first quarter through May, the optimisation of the value benefit component has only recorded Rp4.93 trillion, equivalent to 33.95 percent of the annual target of Rp14.53 trillion,” he said.

Furthermore, the board found that fund placements have not been fully optimised, as some institutional instruments remain tied to low-yield financial products, with returns ranging between 6.45 percent and 6.86 percent.

“We also noted structural inefficiencies in investments at Bank Muamalat, with operational expenses reaching 98 to 99 percent, as well as liquidity pressures and a decline in cash at BPKH Limited’s subsidiary,” he remarked.

From the perspective of internal oversight resilience, the board confirmed it has approved investment proposals and financial instrument placements submitted by the BPKH Executive Body amounting to more than Rp19.65 trillion, or 97.52 percent of total proposals.

“Overall, the collection of hajj funds through new pilgrim registrations and the investment approval process have proceeded according to plan. However, we must convey that the optimisation of value benefits and investment yields remains below the 2026 Work Plan and Budget targets. This is the primary focus of our supervision during this period,” said Chairman Firmansyah N. Nazaroedin.