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ANALISIS PORTFOLIO INVESTASI BPKH UNTUK MENJAGA SUSTAINABILITY KEUANGAN HAJI Sidiq Haryono; Ida Busneti
Syntax Literate Jurnal Ilmiah Indonesia
Publisher : Syntax Corporation

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (348.611 KB) | DOI: 10.36418/syntax-literate.v7i11.8923

Abstract

Fair in Hajj finances when BPKH is able to guarantee that all prospective pilgrims (waiting list) are guaranteed departure. The challenge of maintaining the financial sustainability of the Hajj is getting tougher considering that the Hajj Organizing Cost (BPIH) continues to increase while the amount of funds deposited by pilgrims in the form of Hajj Travel Costs (bipih) tends to remain constant. Sustainability can be met as long as the need for BPIH can be covered with bipih deposits and the value of benefits generated from AUM managed by BPKH. BPIH has a cost structure of 95% in foreign currency while 96% of investment and placement assets are denominated in rupiah. BPIH is influenced by exogenous variables that cannot be managed by BPKH considering that there is no investment portfolio directly related to Hajj service activities in KSA. This research aims to determine the minimum yield required from AUM to maintain sustainability, the financial condition of BPKH during this year is estimated with the portfolio pattern as currently by BPKH and to determine the financial condition of BPKH if the AUM portfolio is in accordance with the limits required by PP No. 5 2018. The research uses the latest summary data for 2022 as a database. Then an assessment is made of all independent variables that affect the minimum value of benefits needed to be compared with the assessment of the benefits that can be obtained from the existing portfolio and if using the AUM BPKH portfolio scenario that has been adjusted to the investment limits. In accordance with the assessments and analysis of the gap, the Hajj finances in 2023 have experienced a deficit. By allocating investment in the business sector related to pilgrimage, at least it can increase the average yield from 6.7% per year to 8.58% per year. in 2023. Scenario 2 also concludes that investment in class assets that are directly related to pilgrimage can provide a natural currency hedging function as well as protection against changes in product and service prices (cost hedging).
FACTORS DETERMINING SHARIA RESPONSIBLE INVESTMENT STRATEGIES Ida Busneti; Novi Imelda; Rizqullah; Yusuf Faisal
International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Vol. 3 No. 1 (2023): February
Publisher : CV. Radja Publika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/ijebas.v3i1.597

Abstract

This study aims to find out and analyze the factors that determine the strategy of sharia responsible investment principles to become a reference for the public in investment activities as part of the effort to realize sharia maqashid, especially in maintaining assets. The research methodology being used is the Analytic Network Process (ANP) by involving various experts and or practitioners in the field of investment and sharia economics. Numbers of journals are also used as references to determine problem variables, solutions and strategies. The results of the analysis extracted from the responses of the experts were concluded that (1) the existence of regulations such as reward & punishment and regulatory supervision is a problem in the application of sharia responsible investment principles, as well as successively (2) public awareness and fund managers - in this case an understanding of the benefits of sharia-responsible investing (3) the resources of investment managers and (4) the Islamic investment climate itself. Solutions to the problem of implementing sharia responsible investment strategies successively (1) providing tax incentives for Islamic investment funds managed in accordance with the principles of responsible investment (2) integration of capital market issuers (3) literacy & socialization to the public and related parties to increase understanding of sharia responsible investment (4) increase commitment of issuers and the existence of ESG-proven investment instruments supported by special ESG rating agencies.