Events leading to the disclosure of the 211-page Royal Commission of Inquiry (RCI) report on Lembaga Tabung Haji have brought into focus the financial and governance issues that plagued the country’s top Islamic pilgrimage institution. The report highlighted management and operational actions from 2014 to 2020, which included warnings from Bank Negara Malaysia, and concerns surrounding investment and dividend practices. …

Malaysia – High quality jobs and investments will enable Malaysians to enjoy a higher standard of living and also enable them to have higher savings, said Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed. “How do we plan to rebuild savings, it has got to do with incomes. There is no shortcut, we cannot simply top up …

Malaysia – Lim Guan Eng, the DAP secretary-general, was the hero who defended Tabung Haji for the greater benefit of Malaysia, according to Parti Amanah Negara president Mohamad Sabu. The former defense minister, popularly known as Mat Sabu, said that it was Lim who persuaded the Pakatan Harapan (PH) Cabinet in 2019 to “rescue” the Muslim pilgrims’ fund, which had …

The government should concentrate on improving the performance of Bumiputera-led institutions, said Opposition Leader Datuk Seri Anwar Ibrahim. Anwar said that before contemplating new and alternative affirmative action measures, improvements should be made to current organizations that serve the majority population. According to him, the current sector must be boosted while avoiding additional racial tensions and ambiguity for Malays and …

The regulation of Lembaga Tabung Haji (TH) under Bank Negara Malaysia (BNM) is an interim solution and will not change the original nature of TH as a superior agency especially in the management of pilgrims to fulfil the fifth pillar of Islam as stipulated under the Tabung Haji Act 1995 (Act 535), the Ministry of Finance (MoF) said. It said …

KUALA LUMPUR – Muslim pilgrimage fund Lembaga Tabung Haji (TH) are not profitable, says Prime Minister Dr Mahathir Mohamad when he was asked to comment on the issue. The transfer of four Lembaga Tabung Haji (TH) hotels to ministry of finance subsidiary Urusharta Jamaah Sdn Bhd (UJSB) is not generating sufficient money returns, and that the subsidiary should think of …