TH mulls placing investment arm under SC oversight
Tabung Haji chairman says the framework is being fine-tuned to ensure that all key regulators are involved in its future regulatory structure.
The Joint Task Force, comprising the Securities Commission chair and Bank Negara governor, is considering placing Tabung Haji's investment division under SC regulation. Tabung Haji chairman Abdul Rashid Hussain disclosed that the SC chair and BNM governor's task force, after six months of deliberations, concluded that TH should be regulated by the SC.
Rashid emphasized that this decision does not rule out BNM's involvement. During a Himpunan Gerakan Islam Malaysia dialogue, Rashid assured that there has been no political interference in TH since he took the helm in 2023. He stressed the importance of TH being managed professionally to support the haj pilgrimage and serve the Muslim community.
The board's current composition adheres to the two key principles from the royal commission of inquiry (RCI) report, namely, fit and proper criteria and a balance of skills required by the institution. This professional management approach has aided TH's financial recovery, leading to higher profits and dividends over the past three years, with an anticipated continuation of the positive trend.
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.
Also reported by 1 other outlet
- TH mulls placing investment arm under SC oversight freemalaysiatoday.com
