KUALA LUMPUR – The cabinet has agreed to form a Royal Commission of Inquiry (RCI) to investigate issues involving Lembaga Tabung Haji’s (TH) board, following an audit by firms such as PricewaterhouseCoopers (PwC), Ernst & Young (EY) and Roland Berger between 2014 and last year.
Deputy Prime Minister Datuk Seri Ismail Sabri Yaakob said among the terms agreed to by the cabinet include:
- The scope of the RCI will focus on findings by the auditing firms on issues concerning TH between 2014 to 2020, but will not include its ongoing restructuring and recovery plan
- To determine whether there was a “cover-up” of information regarding issues that were brought up, as well as concerning the issuance of confusing statements during the same period
- To recommend appropriate action against parties who were directly or indirectly involved if any were found to have contravened any present laws without affecting any ongoing investigations by the authorities. This step is to ensure the overall improvement and administration of TH; and,
- Submitting a report of its findings to the government along with recommendations, if necessary, within three months.
Ismail Sabri said the Prime Minister’s Department will identify individuals, composed of experts in fields such as shariah law, and Islamic banking and investment, to be part of the RCI.
“Further details regarding the formation, reference as well as the RCI membership will be announced soon,” he said.
He added the formation of the RCI is necessary so that further investigations can be conducted over matters that have been raised, and the report can be submitted to the government to restore TH’s image and public confidence.
“This is also to ensure a transparent and reliable internal investigation is carried out to ensure that TH has carried out its mandate professionally in managing its depositors’ interests.”
The announcement comes after the Perikatan Nasional administration had last year announced plans to form an RCI to investigate alleged misappropriation of funds in TH, especially concerning legal aspects and methods of implementation.
Minister in the Prime Minister’s Department (Religious Affairs) Datuk Seri Zulkifli Mohamad Al-Bakri had said the proposal on the establishment of the RCI was discussed at a cabinet meeting on August 18, last year. – The Vibes, July 14, 2021
