BALIK PULAU, Dec 16 — Tabung Haji (TH) depositors have been urged not to worry about the decision to place TH under the supervision of Bank Negara Malaysia (BNM) from January next year, as the move is aimed at improving the pilgrim fund’s governance.
Deputy Minister in the Prime Minister’s Department (Religion) Fuziah Salleh said BNM would only regulate TH’s management procedures and would not be controlling its funds.
She said TH required a regulator like BNM which oversees not only all the banks, but also other financial institutions in Malaysia, and in this case, the interests of TH depositors would be more secure.
“If TH has no regulator, the chairman of the board can do whatever he wants, (for example) to invest here and there, to manipulate financial reports (and state) there has been profit even if there isn’t any,” she told reporters here today.
She was commenting on the group that signed a petition against placing TH under the supervision of Lim Guan Eng (Finance Minister), the Finance Ministry and BNM to prevent the assets of Muslims to fall into the hands of non-Muslim. TH manages the Haj pilgrimages for Malaysian Muslims.
Earlier this month, Minister in the Prime Minister’s Department Datuk Seri Dr Mujahid Yusof announced that TH would be placed under BNM’s supervision from January next year to improve its governance. — Bernama