Tabung Haji Report Withheld to Prevent Collapse, Says PM Anwar

Prime Minister Anwar Ibrahim has defended the decision to withhold the Tabung Haji (TH) Royal Commission of Inquiry (RCI) report for the past three years, stating it was a necessary measure to prevent a crisis of confidence that could have led to the financial institution's collapse. He explained that if the report, which detailed alleged mismanagement and losses exceeding RM10 billion by previous administrations, had been published earlier, depositors might have withdrawn their funds, severely impacting TH's financial standing.

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When asked why it wasn't announced three years ago, I explained that if the report was released then, the public would lose confidence and withdraw their money. Ultimately, Tabung Haji could have gone bankrupt.

Anwar elaborated that following three years under the new management led by Tan Sri Abdul Rashid Hussain, Tabung Haji has regained stability and strength. This improved financial health, he stated, now permits the disclosure of the RCI report. "When asked why it wasn't announced three years ago, I explained that if the report was released then, the public would lose confidence and withdraw their money. Ultimately, Tabung Haji could have gone bankrupt," he said during a national unity event in Port Dickson.

The Prime Minister also addressed the issue of Lembaga Kemajuan Tanah Persekutuan (Felda), another government agency burdened by past mismanagement. He revealed that the government allocates approximately RM980 million annually to settle Felda's old debts, ensuring the welfare of its settlers is not compromised. Anwar stressed that the government is using national funds to clear these debts, emphasizing that the settlers are not at fault for the previous administration's failures.

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After three years with excellent new management, Tabung Haji has regained a strong footing.

Anwar reiterated the government's firm stance against any form of corruption, particularly within institutions entrusted with managing the savings of Muslims. He asserted that the issues raised in the RCI report are not politically motivated but concern national sovereignty, integrity, and governance. The government, he assured, will not compromise on accountability, especially concerning entities handling crucial financial resources.

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I cannot bear to take money from Felda or its settlers because that was not their mistake, but the mistake of top management. That is why the government is using national funds to settle the debt.