Revision of the Hajj Financial Management Law: BPKH Strengthens National and International Investment Synergy through Subsidiaries
Revision of the Hajj Financial Management Law: BPKH Strengthens National and International Investment Synergy through Subsidiaries
The Badan Pengelola Keuangan Haji (BPKH) views the revision of the Law on Hajj Financial Management as a strategic moment to strengthen governance and investment flexibility.
JAKARTA – The Badan Pengelola Keuangan Haji (BPKH) views the revision of the Law on Hajj Financial Management as a strategic moment to strengthen governance and investment flexibility.
The revision of the Hajj Financial Management Law focuses on strengthening the role of BPKH’s subsidiaries as direct investment instruments abroad to optimize the value of Hajj funds and build synergy between national economic strength and international partnerships.
In its implementation, the development of BPKH’s subsidiaries in Saudi Arabia is directed towards two main pillars: integration of national investment with Danantara and the BUMN group, and institutional collaboration with the Saudi Arabian Ministry of Hajj and Umrah.
National Synergy and Investment Orchestration
The Head of the BPKH Implementing Agency, Fadlul Imansyah, stated that collaboration with Danantara is a strategic step to integrate Indonesia’s investment power on the global stage.
“Through synergy with Danantara, we want to build an integrated national investment orchestra. The subsidiary in Saudi Arabia will be a collaborative platform for the BUMN group and national private companies to enter in a more structured and competitive manner in the Hajj and Umrah ecosystem,” said Fadlul in a press release received by TIMES Indonesia, Thursday (26/2/2026).
A similar sentiment was expressed by a member of the BPKH Implementing Agency for Direct Investment, M. Arief Mufraini, who added that this collaborative approach will strengthen Indonesia’s bargaining position. According to him, synergy with Danantara and BUMN enables the formation of a stronger and more measurable co-investment scheme.
“With the right investment structure, we can ensure strategic control, disciplined risk management, and the creation of long-term value. This also opens up opportunities for participation by competent national private sector players,” explained Arief.
The main pillars of this national synergy include:
Co-investment Scheme: Collaboration of capital between BPKH and Danantara.
BUMN Consolidation: Strengthening the role of BUMN in strategic sectors such as accommodation, catering, transportation, and logistics.
Empowerment of the Private Sector: Opening access for national private sector players that have high competitiveness.
Governance Standards: Implementation of risk management in accordance with the best international institutional practices.
International Collaboration and Supply Chain Integration
At the international level, BPKH strengthens the role of its subsidiaries through constructive cooperation with the Saudi Arabian Ministry of Hajj and Umrah.
This step is important to align investment with regulations and the direction of development of the Hajj ecosystem in the Holy Land. Given the massive number of Indonesian pilgrims each year, there is a large captive market potential.
Through close coordination with local authorities, Indonesian companies are expected to be systematically integrated into the Hajj service supply chain—from the provision of hotels to other supporting services—while still prioritizing the principles of compliance and mutually beneficial partnerships.
BPKH affirms that all of these initiatives remain based on the main mandate, namely to provide optimal benefits for Indonesian Hajj pilgrims. With transparent governance and cross-institutional synergy, BPKH is optimistic that it can build a more integrated, competitive, and sustainable Hajj ecosystem in the long term. (*)