TH REVIEW TO BOOST INTEGRITY, SAYS ZAFRUL
Govt committed to guaranteeing savings of TH depositors, which have reached RM80 billion, says finance minister
THE review of Lembaga Tabung Haji’s (TH) operating model aims to ensure that issues of governance, integrity and reputation are improved, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
He said the revision of the Tabung Haji Act 1995 (Act 535) was also to ensure the financial institution’s sustainability and viability to safeguard the interests of depositors.
“The government is committed to fully guaranteeing the savings of TH depositors, which have reached RM80 billion.
Tengku Zafrul said: “TH is on the best track with a stronger and more stable financial position.
“We will improve its governance and operations through the regulatory framework by Bank Negara Malaysia (BNM).”
He said this after presenting food baskets at Masjid Al-Hasanah here yesterday.
He said BNM had an Islamic financial services board and a syariah advisory council comprising internationally recognised
experienced people.
“A study by the Prime Minister’s Department through the religious affairs minister, Finance Ministry and TH will be conducted to evaluate the proposed new model before being re-tabled at the cabinet meeting, which will take into account existing capacity, including TH’s assets, liabilities and human resource expertise,”
Earlier, he handed over 1,000 food baskets donated by Bank Simpanan Nasional to needy
families in Bandar Baru Bangi.
On Thursday, the Finance Ministry said the cabinet had agreed to improve TH’s management and operations.
This involved the proposed new operating model policy and a 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.