KUALA LUMPUR – Lembaga Tabung Haji’s (TH) future does not lie with Bank Negara Malaysia but as a national trust overseen by a board of trustees, suggested Umno deputy president Datuk Seri Mohamad Hasan.
“I’m concerned that Tabung Haji under the purview of Bank Negara will be treated as a financial and savings agency. It will lose its potential as a trust fund that empowers the people.
“TH is a very strategic fund for the interests of Muslims in this country,” he posted on his Facebook page today.
He added that by turning TH into a national trust, its administration will be handed to a board of trustees with members who are well-respected and capable, including international figures, if necessary.
“The Tabung Haji issue is no longer regulatory. The real problem of Tabung Haji is its leadership, trust and competence.
“I urge the government to return Tabung Haji to its strategic role, in line with the spirit behind its establishment.”
He added that the fund’s future lies with a leadership who is capable of uncovering TH’s potential as a trust fund.
Two days ago, The Finance Ministry (MoF) announced that TH will have a new operating model that will be reviewed by the Prime Minister’s Department, MoF, Bank Negara Malaysia (BNM) and the pilgrim fund.
The government also plans to list the institution as a prescribed Islamic financial institution under Bank Negara’s purview.
“The aspect of governance, integrity and reputation of Tabung Haji as an Islamic finance savings institution is crucial to improve the stability of Tabung Haji’s financial position, to secure and protect the rights of Malaysian depositors and hajj pilgrims.
“As stated in the Tabung Haji Act 1995, depositors’ savings remain safe and secured by the government,” MoF said in a statement.
The decision was made during Wednesday’s cabinet meeting.
The government will also set up a royal commission of inquiry (RCI) to investigate TH issues.
MoF said the RCI is to review TH’s audit findings from 2014 to 2018, as well as the recovery measures undertaken by the pilgrim fund up until 2020.
But the RCI will not include the current restructuring efforts to improve TH. – The Vibes, July 17, 2021
.jpeg)
