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Placing TH under BNM due to nation's financial stability | Daily Express Online


Published on: Tuesday, July 20, 2021
By: Bernama
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Kuala Lumpur: The decision to place Lembaga Tabung Haji (TH) under the regulation of Bank Negara Malaysia (BNM) is to improve the pilgrimage fund board’s overall management and operations due to its importance to the country’s financial system stability.
Minister of Finance Tengku Datuk Seri Zafrul Tengku Abdul Aziz
(pic) said the move was also taken to safeguard the interest of depositors and strengthen TH’s financial position in fulfilling its mandate in line with good the governance standards set by the United Nations Convention Against Corruption (UNCAC).
“In line with the establishment of the Royal Commission of Inquiry (RCI) relating to TH, the government continues to strongly support the ruling under Article 3(1) of the Federal Constitution on Islam as the federal religion and TH will remain the leading agency, especially in the management of hajj pilgrims to fulfil the fifth pillar ....

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Review of TH operating model to improve governance, integrity


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 Tengku Datuk Seri 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.
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),” he told the media after presenting food baskets contribution at Masjid Al-Hasanah here on Saturday. ....

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