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The hajj fund that was paying bonuses while losing money has now implemented more than three-quarters of a royal commission’s reform recommendations, with its profit distribution rate at a near-decade high.
Tabung Haji has implemented more than 75 per cent of the 25 recommendations from a Royal Commission of Inquiry into its operations, with its profit distribution rate climbing to a near-decade high of 3.50 per cent for the 2025 financial year.
The figure marks the highest distribution rate in eight years, according to Putra Business School MBA Programme director Ahmed Razman Abdul Latiff, who described it as “undeniable evidence” that the hajj savings institution has fully recovered.
“Currently, TH has started to record an increase in return on investment, the highest number of depositors and also an increase in last year’s profit distribution by 3.50 per cent, which is the highest in the last eight years,” Ahmed Razman said on Bernama TV’s Apa Khabar Malaysia: RCI Tabung Haji – Memelihara Amanah Pendeposit.
“These are all indicators or undeniable evidence that TH has fully recovered and no money has been lost,” he said, adding that the RCI’s intent was to caution TH’s current management to remain prudent.
“Depositors’ Money In Good Hands”
Ahmed Razman said depositors should not be worried about the status of their savings following the RCI report.
“Depositors’ savings in TH are definitely safe and secure. There is no need to panic as their savings are fully guaranteed by the government. The more we save, the more is guaranteed,” he said.
He added that, from an Islamic finance perspective, the management of TH depositors’ funds must be based on shariah principles, transparency, and accountability, with depositors’ interests kept as a priority.
Ahmed Razman noted that TH’s mandate is broader than that of a typical fund – established to help Muslims perform the hajj and build sufficient savings and assets to continue their lives afterward.
He said this means TH’s fund management needs to operate under a strict process in line with shariah principles, while ensuring transparency and accountability so depositors understand how their funds are managed.
Upcoming Review For RCI Report
The RCI’s 211-page report, covering TH’s management and operations from 2014 to 2020, was released on July 29.
A special sitting of the Dewan Rakyat is scheduled for Tuesday (11 August) to debate the report.
Parliament has yet to weigh in on the findings, with lawmakers set to scrutinise the report’s conclusions during the sitting.
TH’s implementation of the RCI’s recommendations remains ongoing, with more than a quarter of the 25 recommendations still outstanding.
Ahmed Razman’s remarks represent one of the most detailed public assessments of TH’s reform progress since the report’s release.
READ MORE: RCI Bombshell: How Did Tabung Haji Pay Bonuses While Losing Money?
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