The Awqaf Properties Investment Fund (APIF) of the Islamic Development Bank (IsDB) is pleased to confirm a US$ 6.51 million from Indonesia’s Hajj Fund, he Badan Pengelola Keuangan Haji (BPKH), as an additional investment following their initial participation of US$ 5 million earlier in 2020. With this new investment, BPKH has become the third biggest investor in APIF.
Following productive discussions with the APIF team and the recognition of APIF’s efforts in the Awqaf sector, BPKH decided to participate with the additional investment, which translates to 568 certificates at a Net Asset Value (NAV) of US$11,468.
The BBKH management has expressed their appreciation to IsDB for the investment opportunities and the excellent work in managing the APIF Investment” and continued, “We hope that APIF can achieve the desired outcome in generating a sustainable return and contribute to the sustainable socio-economic development of the Ummah.”
The Acting Director of the Islamic Financial Sector Development Department, Dr. Mohamed Ali Chatti stated: “APIF investments are mutually beneficial: while generating sustainable and reliable income for investors, they also achieve great impact on their socio-economic developmental goals in the educational, social, and health sectors. Such additional investments represent the confidence of our investors on APIF’s current achievements and future plans.”
This investment is part of APIF’s firm steps towards its resource mobilization strategy and journey. The additional investment followed APIF’s successful attraction of 4 new investors in 2020, namely: Direct Aid Society, Islami Bank Bangladesh Limited, Badan Pengelola Keuangan Haji (BPKH), and World Assembly of Muslim Youth with a total investment value of US$21.59 million. This additional participation by BPKH also followed the recent investment of the International Islamic Fiqh Academy of US$ 1.5 million in May 2021.