General : PM Backs Proposal To Place Tabung Haji Investments Under SC, BNM Oversight
KUALA LUMPUR, Sept 4 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim today backed a proposal by Lembaga Tabung Haji (TH) to place its investment operations under the regulatory oversight of the Securities Commission Malaysia (SC) or Bank Negara Malaysia (BNM).
On September 4, Prime Minister Datuk Seri Anwar Ibrahim expressed his support for a proposal by the Lembaga Tabung Haji (TH) to subject its investment operations to regulatory oversight by either the Securities Commission Malaysia (SC) or Bank Negara Malaysia (BNM). The proposal, put forward by new TH management led by Chairman Tan Sri Abdul Rashid Hussain, aims to ensure tighter regulation and prevent potential misuse of power and governance issues in the future.
Anwar, who serves as the finance minister alongside his role as prime minister, stated that the initiative by TH's new leadership is a positive step towards strengthening governance and accountability within the pilgrimage fund management institution. Following his Friday prayers at Masjid Bukit Indah in Ampang Jaya, Anwar informed reporters that he has been briefed on the matter and supports the proposed measures, including amendments to the Tabung Haji Act 1995.
The proposed regulatory framework is currently being refined by TH. Abdul Rashid Hussain revealed that the decision to place TH's investment operations under statutory oversight comes after nearly six months of intensive discussions within a joint task force. This task force comprises the SC chairman and BNM Governor, with the goal of aligning TH's investment management practices with Malaysia's capital market regulatory standards.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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