Tabung Haji to be put under BNM supervision from Jan 1

As part of its restructuring plan, troubled Lembaga Tabung Haji (TH) will be put under the supervision of the central bank from January next year as part of efforts to win back the trust of depositors.

Minister in the Prime Minister’s Department Datuk Seri Dr Mujahid Yusof Rawa said the weak governance under the previous management of pilgrim’s fund had violated the trust of the rakyat.

“For this restructuring of TH that we are doing, it is important that the fund is put under the supervision of Bank Negara Malaysia (BNM) and to be subject to the strict financial standards and governance requirements.

“The government is committed in ensuring the recovery of the rakyat and depositors’ trust in TH with the new leadership and management team of the fund, after what has transpired under the previous management,” he told a press conference at Parliament lobby today.

http://www.theedgemarkets.com/article/tabung-haji-be-put-under-bnm-supervision

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