Anwar backs tighter oversight of Tabung Haji investments
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has backed tighter regulatory oversight of Lembaga Tabung Haji’s (TH) investments, including possible supervision by the Securities Commission Malaysia (SC) or Bank Negara Malaysia (BNM).
Prime Minister Anwar Ibrahim has supported tighter regulatory oversight of Tabung Haji (TH) investments, potentially under the purview of the Securities Commission Malaysia (SC) or Bank Negara Malaysia (BNM). This proposed measure aims to prevent abuse of power and irregularities in TH's management, as suggested by the Finance Minister, who has been briefed on the reform initiatives.
TH chairman Tan Sri Abdul Rashid Hussain stated that the proposal followed discussions with the SC chairman and BNM governor, with the SC chosen as the primary regulator due to TH's substantial investments in the capital market. The Royal Commission of Inquiry report from 2022 identified governance and financial management weaknesses, including accounting practices and investment decisions.
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