TH mulls placing investment arm under SC oversight

Tabung Haji, Malaysia's investment arm for pilgrims, is considering placing its investment operations under the Securities Commission's oversight, following discussions with representatives from both the SC and Bank Negara Malaysia. This potential shift, which has been deliberated over for nearly six months, is seen as more suitable for TH's regulatory structure. However, this does not exclude the involvement of Bank Negara, as the regulatory framework is being fine-tuned to ensure all key regulators are involved.

Tabung Haji's chairman, Abdul Rashid Hussain, emphasized that the decision is driven by a desire to uphold professional management and avoid any political interference. He stated that TH has not appointed any politicians to its board since he took over in 2023 and has maintained a focus on managing the institution professionally to support the Haj pilgrimage and serve the Muslim community.

The chairman assured that there has been no political interference within the organization, thanks to the guidance of two competent ministers he worked with in the past.