PM: Higher ‘hibah’ due to efficient management

Efficient management has allowed Tabung Haji (TH) to announce a distribution of hibah or bonus to depositors at 4.5 per cent, other than 1.75 per cent of haj hibah.

Prime Minister Datuk Seri Najib Razak said the amount totalling 6.25 per cent had been described as competitive and higher than last year.

“Alhamdulillah, thanks to efficient management, TH today (yesterday) announced an annual hibah of 4.5 per cent and haj hibah of 1.75 per cent which totalled 6.25 per cent, an amount that is competitive and higher than last year’s,” Najib said on social media.

Minister in the Prime Minister’s Department Datuk Seri Jamil Khir Baharom said TH yesterday announced its distribution of hibah to depositors, other than additional haj hibah to those who had yet to perform the haj pilgrimage for the financial year 2017, involving a payment of RM2.7 billion.

The payment of hibah at 6.25 per cent would benefit 93 per cent of 8.7 million depositors, who had not performed the haj.

For 600,000 depositors who had performed the haj, they would receive the hibah at 4.5 per cent.

Last year, TH announced a 4.25 per cent annual hibah and an additional haj hibah at 1.5 per cent for depositors who had yet to peform the haj for the financial year 2016, involving payment totalling RM2.88 billion.