House Commission VIII Urges BPKH to Diversify Investments into Hajj Ecosystem

Jakarta - Commission VIII of the Indonesian House of Representatives (DPR RI) is urging the Hajj Financial Management Agency (BPKH) to accelerate investment diversification so that it does not rely solely on Sovereign Sharia Securities (SBSN), but also expands investments into the hajj and umrah ecosystem sectors. “We encourage BPKH to accelerate investment diversification, particularly those related to the hajj and umrah ecosystem sector,” said Commission VIII member Sigit Purnomo during a working meeting with BPKH in Jakarta on Monday. According to him, the investment composition dominated by SBSN indeed provides a high level of security, which should be appreciated. However, BPKH is considered to need to start accelerating investment diversification to optimise the returns on hajj fund management. Sigit, commonly known as Pasha, said this diversification could be directed towards sectors that support the ecosystem for organising the hajj and umrah pilgrimages, such as accommodation, transportation, catering, and various supporting infrastructure both domestically and in Saudi Arabia. “Currently, BPKH’s investment structure is still concentrated in Sovereign Sharia Securities. Meanwhile, investments related to gold, corporate sukuk, and sharia mutual funds are still very limited,” he said. “We hope that through this sector, there will be significant results. If we use the old saying, it is from us, by us, for us,” he added. In addition to investment diversification, Sigit also encouraged BPKH to continue strengthening its institutional capacity, expanding service outreach to prospective pilgrims, and aligning fund management policies with economic dynamics and regulatory developments. “Regarding the investment composition, I think we can oversee it together,” said Sigit. Previously, the Head of the BPKH Executive Board, Fadlul Imansyah, stated that BPKH’s investment portfolio is still dominated by Sovereign Sharia Securities (SBSN), which account for more than 73 percent of the total investment portfolio. The SBSN tenor composition consists of tenors above 15 years at 44.4 percent, tenors of 5-15 years at 22 percent, and tenors of 1-5 years at 33.6 percent. Besides SBSN, the investment portfolio also includes direct hajj investment placements at 2.2 percent, corporate sukuk at 1.6 percent, gold at 0.4 percent, and limited placement sharia mutual funds at 0.35 percent. As of the end of May 2026, the value of BPKH’s gold holdings reached approximately Rp620 billion. Meanwhile, placements in the banking sector reached Rp34 trillion, or about 19.2 percent of the total portfolio, with around 98 percent placed in current accounts and deposits.