TH regulation under Bank Negara an interim solution


“Haj affairs remain under the responsibility of the Minister in the Prime Minister Department. From TH’s point of view, the board of directors and its management still have major problems in determining the direction of TH as well as the management and operation of the pilgrimage,” the Finance ministry said in a statement yesterday.

KUALA LUMPUR: The regulation of Lembaga Tabung Haji (TH) under Bank Negara is an interim solution and will not change the original nature of TH as a superior agency especially in the management of pilgrims, according to the Finance Ministry.

“Haj affairs remain under the responsibility of the Minister in the Prime Minister Department. From TH’s point of view, the board of directors and its management still have major problems in determining the direction of TH as well as the management and operation of the pilgrimage,” the ministry said in a statement yesterday.

Tabung Haji TH logoTabung Haji TH logo

It said TH’s regulatory efforts in terms of deposit-taking as well as risk and liquidity management by Bank Negara is an interim solution that would be implemented until the findings of the Royal Commission of Inquiry is tabled for further government consideration. — Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

CPO futures expected to trend lower on profit-taking next week
Britain looking at temporary measures to alleviate trucker shortage
'Loss and pain': Families testify at Dutch MH17 trial
Oil hits highest in almost 3 years as supply tightens
GLOBAL MARKETS-S&P 500 edges up, European shares slump amid Evergrande fears, US yields rise
Banking on wealth management
Short Position - Opcom, La Nina, Taxing
Going for growth
Sapura Energy in race against time
Ge-Shen hopeful of growth amid challenges

Stories You'll Enjoy


Vouchers