PUTRAJAYA: With Lembaga Tabung Haji (TH) having more than 9.8 million depositors and over RM96bil in investments, strengthening its governance is crucial to safeguarding depositors’ interests and maintaining confidence in the institution and the domestic market, says Economy Minister Akmal Nasrullah Mohd Nasir.
He said the follow-up to the Royal Commission of Inquiry (RCI) report on TH management and operations between 2014 and 2020 should be viewed in the context of ongoing efforts to strengthen governance, accountability and confidence in national institutions.
Akmal Nasrullah said the government respected the ongoing investigation process and any action arising from it should be carried out according to the law by the relevant authorities.
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"Given the scale and role of TH, strengthening its governance is important.
"With investments exceeding RM96bil, the governance of Tabung Haji has wider implications for confidence in institutions and the domestic market.
"The priority is to ensure investment management, financial discipline and risk management continue to be strengthened so that the interests of depositors are protected sustainably," he said in a statement on Monday (Aug 24).
As of early August, more than 75% of the RCI’s recommendations had been implemented while work on the remaining recommendations for improvement was ongoing, he noted.
"This momentum needs to be supported by institutions that function well, policy certainty and consistent implementation of reforms to maintain business and investor confidence and strengthen the resilience of the national economy," he said.
