No spike in withdrawals from Tabung Haji

KUALA LUMPUR -- There was no spike in withdrawals from Lembaga Tabung Haji (TH) amid the commencement of the TH rehabilitation and restructuring plan, said Group Managing Director and Chief Executive Officer Datuk Seri Zukri Samat today.

He said TH was still receiving support from the depositors despite revelations made by Minister in the Prime Minister's Department Datuk Seri Dr Mujahid Yusof Rawa that TH will be placed under Bank Negara Malaysia’s supervision starting January next year to improve the organisation’s governance.

"Business as usual for us. We don't see a spike in withdrawals and people are still supporting us. Even today, I was told that we have about 170 people opening accounts with us.

"TH welcomes the government’s decision to put TH under the supervision of Bank Negara Malaysia as the central bank has a very robust risk management and liquidity framework, which institutions under its supervision must comply and therefore enhance confidence of depositors," he told a press conference, here today.

Zukri said TH is in the process of instituting a risk management framework to ensure that future investment policies will be suited to their new business model.

Zukri said TH is looking at areas where they could reduce the cost of haj operations to contain the costs of performing the haj and cost-cutting measures have been initiated to reduce overheads.

Meanwhile, responding to former TH chairman Datuk Seri Abdul Azeez Rahim who today denied allegations on misconduct involving RM22 million belonging to Yayasan Tabung Haji, Zukri explained that the case is still under police investigation and that he was looking forward to know the outcome.

"I'm not in a position to comment, let the police investigate and come out with the conclusion. We hope the report can be completed as soon as possible," he said, Bernama reports.

Zukri said TH will also make an official announcement following Abdul Azeez’s statement claiming that TH did not take into account the Ernst and Young audit report that had evaluated the asset value of all TH companies, besides the National Audit Department.

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