Rekonstruksi Konsep Istitha'ah Maliyah dalam Pengelolaan Dana Haji

Kritik Terhadap Skema Subsidi (Intergenerational Equity)

Abstract

This article presents an in-depth and comprehensive analysis of Hajj financial governance in Indonesia, focusing on the reconstruction of the concept of istitha'ah maliyah (financial capability) amidst the crisis of Hajj fund sustainability. This research is motivated by the phenomenon of a significant increase in the Hajj Pilgrimage Cost (Bpih), which is not balanced by a proportional increase in pilgrim deposits (BIPIH), thus forcing the excessive use of Benefit Value (investment returns). Through a qualitative approach with descriptive-critical and normative-juridical analysis methods, this study dissects the financial report data of the Hajj Financial Management Agency (BPKH) for 2018-2024 and projects its impact until 2026. The research findings indicate that the current intergenerational cross-subsidy scheme has violated the principle of Intergenerational Equity as theorized by Richard Musgrave, and is contrary to the Islamic economic principle of Monzer Kahf regarding distributive justice and consumption rationality. Furthermore, this practice is indicated to have structural similarities to a covert Ponzi scheme, where the financial rights of waiting-list pilgrims are eroded to finance those currently departing. This analysis is strengthened by the issuance of the Decree of the VIII Indonesian Ulema Council of Fatwa Commissions in 2024, which prohibits the use of investment proceeds from prospective Hajj pilgrims' initial deposits to finance other pilgrims. This article concludes the need for a redefinition of istitha'ah (Islamic principle) that returns to financial independence, enforcement of actuarial discipline in accordance with Law No. 34 of 2014 concerning Hajj Financial Management, and implementation of Maqashid Sharia (Islamic Principles) in terms of asset protection (hifz al-mal) to ensure the sustainability of the congregation's funds.