KUALA LUMPUR, Feb 25 — The Prime Minister’s Office (PMO) clarified today that pilgrims’ fund Lembaga Tabung Haji (TH) remains under the purview of the Prime Minister’s Department.
Amid rumours that TH would be placed under the Ministry of Finance (MOF), the PMO clarified that it is merely placed under the supervision of Bank Negara Malaysia (BNM).
“As an independent body, and under the leadership of Governor Datuk Nor Shamsiah Mohd Yunus, BNM regulates all banks and financial institutions nationwide, including Islamic financial institutions,” the statement read.
Following the Cabinet ministers’ decision to move TH’s underperforming equities to the government’s Special Purpose Vehicle (SPV), Putrajaya had dismissed claims that the jurisdiction of TH had been transferred from the department to MOF.
“The move to transfer the assets to SPV is one of the efforts to restore TH’s financial condition and accelerate its financial recovery, after a mass misconduct had taken place in the institution.
“The allegations that claimed TH had been moved under the Finance Ministry is false and baseless,” the statement read.
The transfer of TH’s underperforming assets to the SPV in question, Urusharta Jamaah Sdn Bhd, had begun in last December, according to reports.