Tabung Haji Restructuring
4 articles from 1 country
Malaysia's Tabung Haji underwent a significant restructuring in 2018 to address financial deficits and prevent insolvency, a move that required government financial assistance. A special parliamentary session is scheduled for August 11 to discuss the Royal Commission of Inquiry (RCI) report on the pilgrimage fund. The RCI has recommended stricter criteria for board appointments and called for religious consultation regarding changes to deposit contracts.
Asset Sales Worth Nearly RM10 Billion Saved Tabung Haji
- Lembaga Tabung Haji (TH) underwent a restructuring in 2018 to address a financial deficit and prevent insolvency, requiring government financial assistance. - Concerns about TH's high profit distribution practices, which depleted reserves, were raised by Bank Negara Malaysia and the Auditor-General. - A Special Purpose Vehicle (SPV) owned by the government purchased TH's non-performing assets fo…
Special Parliament Session Set for August 11 on Tabung Haji RCI Report
- A special parliamentary session on the Royal Commission of Inquiry (RCI) report for Tabung Haji (TH) will be held on August 11. - Prime Minister Anwar Ibrahim confirmed the session, which will begin…
Royal Commission Recommends Stricter Tabung Haji Board Appointment Rules
- A Royal Commission of Inquiry (RCI) recommends stricter criteria for appointing members to the Tabung Haji (TH) Board. - The current law only requires board members to be Muslim and Malaysian citize…
Tabung Haji Deposit Contract Changes Warrant Religious Consultation, Says Royal Commission
- A Royal Commission of Inquiry (RCI) found changes in the deposit contract (akad) at Tabung Haji (TH) require attention according to religious authorities. - The RCI recommends TH consult the MKI Muz…
