Tabung Haji governance crucial, with wider implications for domestic market – Akmal
KUALA LUMPUR: The strengthening of the governance of Lembaga Tabung Haji (TH) is important from an economic perspective, taking into account the role and scale of the institution which manages the trust of more than 9.8 million depositors and holds a significant position as an institutional investor in the domestic economy.
In the context of Malaysia's economy, the strengthening of the governance of Lembaga Tabung Haji (TH) holds significant importance, as stated by Economy Minister Akmal Nasrullah Mohd Nasir. TH manages more than 9.8 million depositors and is a key player as an institutional investor in the domestic market, with investments surpassing RM96 billion. This governance enhancement has broader implications for institutional confidence and the overall domestic market.
The focus is on ensuring robust investment management, financial discipline, and risk management to sustainably protect depositor interests, as emphasized by Akmal Nasrullah. The minister highlighted that developments following the Royal Commission of Inquiry (RCI) Report on TH's management and operations from 2014 to 2020 should be considered in light of ongoing efforts to strengthen governance, accountability, and confidence in national institutions.
As of early August 2026, more than 75% of the RCI's recommendations have been implemented, with the remaining work ongoing. The minister's remarks align TH's governance strengthening with the MADANI Economy framework and the implementation of the 13th Malaysia Plan (13MP), 2026–2030, which aims to elevate the country's economic growth ceiling, improve living standards, and reinforce good governance.
The 13MP continues to support Malaysia's economic growth momentum, which recorded a 6.0% growth in the second quarter of 2026 and a 5.7% growth for the first half of the year, compared to 4.5% during the same period last year. To maintain this growth, Akmal Nasrullah emphasized the importance of well-functioning institutions, policy certainty, and consistent reform implementation to preserve business and investor confidence, thereby strengthening the resilience of the national economy.
The Economy Ministry remains committed to advancing the 13MP, particularly in enhancing productivity and competitiveness, accelerating quality investments, and creating high-value jobs to translate economic growth into higher incomes and improved living standards for the Malaysian people.
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.
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