PAC to scrutinise Tabung Haji's follow-up action on RCI findings
Probe to focus on implementation status, progress of commission's recommendations - Mas Ermieyati.
The Malaysian government is prioritizing the implementation of the recommendations outlined in the Royal Commission of Inquiry's (RCI) report on the Tabung Haji (TH) financial management. Religious Affairs Minister Zulkifli Hasan emphasized the need for transparency in the management of Muslims' savings following the release of the RCI report in July 2021.
The report, declassified after nearly four years, recommended 25 measures to improve TH's governance, financial reporting, investment discipline, and oversight. As of late July, more than 75% of these recommendations have been implemented, with TH continuing work on the remaining ones. The government has pledged to accelerate the outstanding reforms.
The RCI, comprising six respected experts, found that TH had concealed its true financial state for years due to excessive hibah commitments, questionable accounting practices, weak oversight, ambitious investment strategies, and rising subsidy obligations. The commission traced TH's financial problems to political interference in board appointments and unsustainable hibah payouts.
The current and former Yang di-Pertuan Agongs, Sultan Ibrahim, have directed authorities to hold responsible parties accountable for the financial issues plaguing TH between 2014 and 2020.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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