The National Development Planning Board (Bappenas) says the haj cost could be reduced to Rp 17 million (US$1, 274) from the current Rp 34 million if the new Haj Fund Management Agency (BPKH) invested funds wisely.
Bappenas head/National Development Planning Minister Bambang Prodjonegoro suggested in Yogyakarta recently that the agency could invest haj funds - haj down payments collected from people registering for the haj - in sukuk.
The waiting period for the haj is 15 to 20 years.
"The BPKH is new so it doesn't have experience in purchasing shares. But it could buy sukuk issued for infrastructure projects, " Bambang said, adding that the BPKH could buy sukuk issued to finance power plant construction.
Source: Jakarta Post