Hajj Gold Savings Could Be a Solution

After the 99 Islamic Economics Symposium organised by the Center for Sharia Economic Development - Institute for Development of Economics and Finance (CSED-INDEF) on 24 February 2026, I watched a video recording of the event. The programme, broadcast live by CNBC Indonesia TV, included a session discussing the Hajj and Umrah Ecosystem. The speakers were Director General for the Development of the Hajj and Umrah Economic Ecosystem at the Ministry of Hajj and Umrah, Professor Jaenal Efendi, and the Head of the Hajj Finance Management Board, Dr. Fadlul Imansyah. The session was moderated by the adept Senior Economist INDEF, Dr. Aviliani. I was given the opportunity to respond.

One of my responses touched on the initiation of Hajj Gold Savings with a small illustration for Hajj pilgrims with a ten-year waiting period. During this waiting period, a pilgrim would receive a relatively large remaining balance at settlement if they had been saving in gold. After the Sarasehan, there was a figure from an NGO who proposed that I write about this Hajj Gold Savings so that the concept is clearer. The essence is the need for an alternative savings instrument for prospective Hajj pilgrims in the form of Hajj Gold Savings.

Up to now, prospective pilgrims to Hajj open rupiah-denominated savings accounts at the Bank Penerima Setoran Biaya Penyelenggaraan Ibadah Haji (BPS-BPIH) which is connected to the Integrated Hajj Computer System (SISKOHAT). Such rupiah-denominated savings will be eroded by inflation over time. Moreover, with the waiting period for Indonesian Hajj pilgrims starting in 2026, the average waiting time has reached 26.4 years (Ministry of Hajj and Umrah, 2026).

Awal mulai Masa Tunggu

Indonesian Hajj pilgrims have departed for the Holy Land since Wednesday 22 April 2026. The 2026 hajj quota is set at 221,000 pilgrims, comprising 203,320 regular pilgrims and 17,680 special pilgrims. This total includes quotas for pure regular pilgrims, regional hajj officers, KBIHU guides, and elderly priority, with a total of 525 flight groups (kloter).

Generally, prospective pilgrims who will depart this year have waited around 5-15 years. Older registrants aged 70 and above will obtain departure priority with shorter waiting times. The waiting period for Hajj began in 2006 with the existence of a queue (waiting list) for Indonesian pilgrims. Registration for Hajj opened mid-2005 for departures in 2006 and was immediately closed because the number of registrants exceeded the time quota by 205,000 people, so subsequent registrants automatically entered the waiting list. From 2006, pilgrims who registered earlier until the quota was reached would be sent to the Holy Land. The Hajj pilgrims of 2006 departed from 28 November 2006 to February 2007. Since then, the excess number of registrants has been accumulated year by year so that the total waiting list for Hajj pilgrims reached 5.6 million people by 2026.

Solusi Tabungan Emas Haji

During the Hajj administration of 1447 H/2026 CE, pilgrims who depart outside the elderly category as per the 2026 rules have their age reduced to 70 years from the previous 80. The minimum age, previously 18, has been lowered to 13 due to the enactment of Law No. 14 of 2025 on the Administration of Hajj and Umrah. The category of prospective pilgrims outside the elderly priority that are to depart in 2026 generally registered around 2012, i.e., the waiting period around 14 years.

Prospective pilgrims after registering will pay the initial registration fee for the Hajj Financing (BPIH) amounting to Rp25 million. The initial deposit for BPIH is subsequently managed by the Hajj Finance Management Agency (BPKH). The total funds under BPKH management in 2026 amount to Rp180.72 trillion (BPKH, 2026).

An initial deposit of Rp25 million has been officially applied since 2010. This policy was implemented to curb the long waiting list for pilgrims and replace the previous amount which was lower, Rp20 million in 2008.

Subsequently, during the waiting period, pilgrims prepare requirements: physically, mentally, spiritually and financially. In terms of finances, pilgrims could settle the full payment immediately if they have funds sufficient for settlement of BPIH on the eve of departure. They could also prepare themselves by regularly saving at the Bank Penerima Setoran to accumulate funds by the time of settlement. Unfortunately, the money saved over such a long period would be eroded by inflation.

When the settlement period of Biaya Perjalanan Ibadah Haji (Bipih) arrives, many pilgrims encounter difficulties because their account balances are not sufficient for the shortfall. There are quite a few people who then cancel their pilgrimage that year because there is no sufficient funds to settle the Biaya Perjalanan Ibadah Haji. For instance, the Regional Office (Kanwil) of the Ministry of Hajj and Umrah in Central Java recorded that of the total pilgrims who had settled the hajj fees, 34,522 people, around 3,000 prospective pilgrims had not settled the hajj fees for 2026. Consequently, thousands of pilgrims from 35 districts/cities were delayed in departing during this year’s Hajj season. Meanwhile, the Tangerang Regency office of the Ministry of Hajj recorded at least 214 prospective pilgrims in the region who had not settled the Hajj fees, causing them to cancel their pilgrimage to the Holy Land for 2026. With