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/).
Cite this article
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 -