JAKARTA. The newly established Haj Fund Management Agency (BPKH) has pledged to match the performance of its Malaysian counterpart -- Tabung Haji (the Pilgrims Management and Fund Board) -- that was established in 1963 and managed Rp 180 trillion (US$13.52 billion) worth of assets in 2015. The BPKH will manage Rp 99.3 trillion in haj funds, garnered from 3.4 million people who have paid deposits to go on the haj, by investing in sharia-compliant instruments. The agency aims to be the world’s largest haj fund manager within 10 years through diversified investment with an 8 to 10 percent annual return, said BPKH supervisory board chairman Yuslam Fauzi over the weekend.
Indonesia aims to have world largest haj fund
JAKARTA. The newly established Haj Fund Management Agency (BPKH) has pledged to match the performance of its Malaysian counterpart -- Tabung Haji (the Pilgrims Management and Fund Board) -- that was established in 1963 and managed Rp 180 trillion (US$13.52 billion) worth of assets in 2015. The BPKH will manage Rp 99.3 trillion in haj funds, garnered from 3.4 million people who have paid deposits to go on the haj, by investing in sharia-compliant instruments. The agency aims to be the world’s largest haj fund manager within 10 years through diversified investment with an 8 to 10 percent annual return, said BPKH supervisory board chairman Yuslam Fauzi over the weekend.