Indonesian Rupiah Continues to Weaken: What Is the Status of the Hajj Funds?

Semarang, Central Java — The Hajj Financial Management Agency (BPKH) has assured that pilgrims’ funds remain safe and under control amid volatility in the rupiah’s exchange rate against the US dollar, which has recently weakened. Acep Riana Jayaprawira, a member of the BPKH Executive Board, speaking in Semarang, Central Java, on Wednesday 21 May 2026, said all investment decisions are made through stringent reviews, covering risk, legal, and compliance before being approved jointly by the executive body and the board of supervisors. He said fund management is carried out cautiously through low-risk investments and placements, in line with the mandate of Law Number 34 of 2014 on Hajj Fund Management. ‘The funds’ records are in good order. When making investments and placements, we proceed with caution. We conduct risk assessments, legal reviews, and compliance checks, and this passes through the committee,’ said Acep after the ‘BPKH Connect’ event. He said all investment decisions involve 14 people, seven from the executive body and seven from the board of supervisors of BPKH to ensure the haj funds do not shrink. At present, he said, BPKH is only allowed to place funds in low-risk instruments because it does not yet have capital or loss reserves, as regulated in the older regulations. Therefore, he hopes that the revision to the Hajj Financial Management Law will later provide room to form capital and loss reserves so that fund management is more flexible, yet remains safe. ‘Hopefully with the changes to the law later, after there is capital and permission to form loss reserves, BPKH can move to a slightly higher level of risk than low,’ he said.