VP asks BPKH to devise Hajj fund investment strategy

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Vice President Ma’ruf Amin has asked the Hajj Fund Management Agency (BPKH) to develop a pilgrimage fund investment strategy and conduct a thorough study of safe, sustainable, and beneficial investment options.

Speaking at the BPKH’s 2022 Global Islamic Investment Forum (GIIF) Gala Dinner, accessed online from here on Friday, he said that an investment strategy for Hajj funds is required so that the fund can provide sustainable benefits for both Hajj pilgrims and the general community.

BPKH needs to study thoroughly and provide options for Hajj investment instruments, which can truly improve the quality of the implementation of the pilgrimage, the Vice President added.

He said that the investment of supporting sectors of Hajj implementation, such as accommodation, transportation, as well as ready meals and services, must advance the services provided to Indonesian pilgrims.

In addition, it is necessary to consider the adjustments in the implementation of the post-pandemic Hajj pilgrimage, for instance, in the provision of health services, Amin said. Any Hajj investment opportunity in the sector should also be considered.

Furthermore, he asked BPKH to conduct a study of sustainable and safe investment alternatives that can encourage the development of Islamic social finance, in accordance with environmental, social, and good governance principles.

The implementation of environmental, social, good governance, and Islamic finance principles will lead BPKH to invest in sharia-compliant instruments that have sustainable benefits while encouraging the establishment of charitable initiatives, the Vice President added.

Hence, green and blue investment instruments, such as green or blue sukuk, should be the agency’s priority investment choices in the future, he said.

“I think the issue should become an agenda for further discussion with the Islamic Development Bank, which has implemented it within the framework of the Sustainable Finance Framework,” he added.

Source: Antara News