BANGI – The review of Lembaga Tabung Haji’s (TH) operating model aims to ensure that issues of governance, integrity and reputation are improved in the future, Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said.
He said the revision of the Tabung Haji Act 1995 (Act 535) is to ensure the sustainability and viability of the financial institution in the future as a basis for safeguarding the interests of all depositors.
“The government is committed to fully guaranteeing the savings of TH depositors which have now reached RM80 billion,” he told the media after presenting food baskets contribution at Masjid Al-Hasanah here today.
“TH is now on the best track with a stronger and more stable financial position and we will improve the governance and operations of TH through the regulatory framework by Bank Negara Malaysia (BNM).”
Tengku Zafrul said BNM has an Islamic financial services board and a shariah advisory council comprising internationally recognised experienced individuals.
“A holistic study by the Prime Minister’s Department through the Religious Affairs Minister, Ministry of Finance (MoF), and TH will be conducted to evaluate the proposed new model before being re-tabled in the Cabinet meeting which will take into account existing capacity including TH’s assets, liabilities, and human resource expertise,” he added.
Earlier, Tengku Zafrul handed over 1,000 food baskets donated by Bank Simpanan Nasional for families in need around Bandar Baru Bangi.
The food baskets – including various basic necessities such as rice, cooking oil, sugar and dried food – amounted to RM100 each, and were distributed through representatives from mosques, suraus, and non-governmental organisations here.
On Thursday, the MoF announced that the Cabinet meeting had agreed to thoroughly improve TH’s overall management and operations, which involved the proposed new operating model policy and review of the amendments to Act 535.
The Cabinet had also agreed to list TH as a prescribed Islamic financial institution under Section 223 of the Islamic Financial Services Act 2013, under the purview of BNM. – Bernama, July 17, 2021
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