Alternative Optimization of Hajj Fund Using Sharia Shares

DOI

10.2991/assehr.k.200306.176How to use a DOI?

Keywords

Sukuk, beneficial ownership, Akad Wakalah, Akad Ijarah

Abstract

Hajj fund management is the responsibility of the Haji Financial Management Agency (HFMA) since the enactment of Government regulations no. 5 of 2018 concerning Implementation of Law number 34 of 2014 about Management of Financial Hajj. Management in the form of Sharia Investment is the choice of HFMA in managing the Hajj fund. The investments that have been made include the Islamic Bank and Sukuk. HFMA can optimize other investment products that have been set in Government Regulation No. 5 of 2018. Seeing the potential of Sharia Shares in Indonesia which is increasing every year, alternative investments in Sharia Shares can be optimized to see the development of Sharia Shares in Indonesia. Moreover, products in the Islamic Capital Market have been utilized, namely Sukuk. Moreover, HFMA not only invest these funds in shares in Indonesia but also on the stock exchange in Saudi Arabia, namely Tadawul, which has opened the door for foreign investors to invest in the Stock Exchange since 2015. This was done to suppress the necessity to convert the Hajj funds from the Rupiah to Saudi Arabia Riyal (SAR); therefore, the profits obtained from investment in the Tadawul Stock Exchange do not experience a reduction in the value due to the currency exchange and there will be more benefits.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Andre Zanij Deananda
AU  - Wirdyaningsih
PY  - 2020
DA  - 2020/03/13
TI  - Alternative Optimization of Hajj Fund Using Sharia Shares
BT  - Proceedings of the International Conference on Law, Governance and Islamic Society (ICOLGIS 2019)
PB  - Atlantis Press
SP  - 34
EP  - 40
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.200306.176
DO  - 10.2991/assehr.k.200306.176
ID  - Deananda2020
ER  -