Tabung Haji RCI snubbed my testimony, former auditor-general claims
Madinah stands by her audit judgment, says standards were met.
KUALA LUMPUR: Tabung Haji, Malaysia's pilgrimage fund, is tightening its oversight and investment monitoring to bolster its governance, as mandated by the Tabung Haji Act 1995. The review, aimed at enhancing the fund's structure and compliance with relevant regulations, involves collaboration with stakeholders and aligns with the recommendations of the Royal Commission of Inquiry (RCI).
The RCI's suggestions include better separation of roles between Haj management and financial matters, with the fund's investment operations managed by a dedicated department, Dana Haji, under the Securities Commission's supervision. Tabung Haji has not disclosed a timeline for completing the review, stating that it will adhere to the relevant legislative processes and timelines.
In addition to the governance overhaul, Tabung Haji is also refining its Haj management policy, placing a stronger emphasis on financial readiness and early planning to help more Muslims prepare sustainably for the pilgrimage. The institution is currently concentrating on reinforcing its overall position by addressing key areas such as financial stability, governance, risk management, accounting standards, investment portfolio restructuring, and improved financial discipline.
The reforms have already yielded tangible results, as evidenced by Tabung Haji's improved financial standing. Its balance sheet now has assets exceeding liabilities, with growing financial reserves. The fund manages its investments through a more disciplined approach, prioritizing controlled risk. In 2025, Tabung Haji generated RM4.64 billion in investment income and distributed RM3.22 billion in profits to more than 9.7 million depositors, marking the highest distribution rate in eight years.
Depositors' savings have risen significantly from RM69.4 billion in 2019 to over RM95 billion in 2026, reflecting the growing confidence in the institution. Tabung Haji's financial fundamentals remain strong, with its depositors' savings continuing to be the priority in all decision-making processes.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Former A-G stands by Tabung Haji audit decisions freemalaysiatoday.com
- KJ says new Tabung Haji RCI premature nst.com.my
- Tabung Haji reforms must go beyond RCI findings, says BN sec-gen malaymail.com
- Tabung Haji RCI findings alone insufficient for prosecution, says former judge malaysiakini.com
