After controversies, Tabung Haji reports RM440 mil net profit

Despite the controversy that surrounded Tabung Haji (TH) earlier this year, it has risen to the challenge by making a net profit of RM440 million in the first quarter of this year alone.

This was just as promised by Deputy Minister in the Prime Minister’s Department (Islamic Affairs) Fuziah Salleh a while back.

TH continues to expect an increase in the following quarters as well.

Especially with the issuance of sukuk, which is an Islamic financial certificate, very similar to a bond in the Western financing terms but without the riba or interest.

TH is anticipating a return of almost RM800 million a year through sukuk by Urursharta Jamaah Sdn Bhd.

Besides that, the total number of depositors have increased to 9.3 million in the first quarter of 2019 with 91,000 new savings accounts opened.

Along with this, there is about RM4.3 billion new savings deposited into TH this first quarter.

Source via:
1. Bernama, May 13, 2019 (TH posts Q1 net profit of RM440 mln on stronger financial position)
2. Bernama, April 8, 2019 (Tabung Haji back on track – Fuziah)
3. Bernama, March 21, 2019 (Tabung Haji confident of winning depositors’ trust)