BPKH Aims for Direct Hajj Fund Investment in Saudi Arabia News – 3 hours ago

Jakarta, CNBC Indonesia – To manage Hajj funds, the Hajj Financial Management Agency (BPKH) is targeting direct investment in Saudi Arabia through its subsidiaries.

This was said by the Head of BPKH, Fadlul Imansyah at the 5th International Hajj Conference, at the Indonesia Sharia Economic Festival (ISEF) 2023, which took place at the Jakarta Convention Center, Friday (27/10/2023).

“We must also invest the funds we have so that we can provide better and quality services for the Hajj which can be distributed in the form of transportation, industry, accommodation, catering and health facilities,” said Fadlul.

He said that direct investment in the Hajj ecosystem should help improve Hajj travel services for pilgrims. Apart from that, direct investment in the Hajj ecosystem can also help create jobs and also encourage local businesses and economic growth throughout the region and also in Indonesia itself.

To achieve this goal, a number of collaborations were carried out. BPKH continues to coordinate with the Director General of Hajj and Umrah, Ministry of Religion, and one of its business entities in Saudi Arabia.

“This year BPKH has established a subsidiary in Saudi Arabia with the name BPKH Limited or BPKH Limited. This subsidiary will support BPKH’s investment plans in Saudi Arabia in the coming year,” he said.

It is known that the 5th International Hajj Conference will discuss two main topics, namely direct investment in the Hajj ecosystem, and the implementation of Governance Risk and Compliance (GRC) in sharia financial institutions.

Those present as speakers at today’s International Hajj Conference included BI Deputy Governor Juda Agung, Director General of PHU Ministry of Religion Hilman Latief, Director General of Hajj and Umrah Diyanet Turkiye, Founder of AMS Law Firm Saud Arabia Ahmed Alsawwaf, and Member of the BPKH Executive Board Arief Mufraini.

Meanwhile, attending the second session will be Umar Oseni, CEO of the International Islamic Liquidity Management Company (IILM), Mahmut Aydogmus, Director of International Relations, Borsa Istanbul, Turkiye, Dudi Dermawan, Director of Bank Indonesia, and Member of the BPKH Executive Board, Harry Alexander.

[Gambas:Video CNBC]

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