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Malaysian National Reinsurance Bhd is selling its complete ownership in Takaful IKHLAS Family and General to Bank Rakyat for RM1.64 billion, marking a strategic shift toward core reinsurance operations.
Dr Zulkifli Hasan, Religious Affairs Minister, will unveil the Royal Commission of Inquiry findings on Tabung Haji in parliament next week, marking a significant step in addressing concerns about the institution.
Tabung Haji faced severe financial strain due to mounting liabilities exceeding assets, prompting authorities to launch a comprehensive recovery strategy and establish an RCI to examine operational lapses between 2014 and 2020.
Malaysia's Religious Affairs Minister Dr Zulkifli Hasan announced ongoing stakeholder consultations for proposed amendments to the Tabung Haji Act 1995, implementing recommendations from a Royal Commission of Inquiry report.
Eight officers from Malaysia's anti-corruption agency have arrived at Tabung Haji's Kuala Lumpur office to conduct a systematic examination of the Islamic pilgrimage fund's financial records and administrative documents.
A Royal Commission inquiry into Lembaga Tabung Haji found governance weaknesses and poor investment decisions resulted in RM10 billion losses between 2014 and 2020. Analysts say the lost funds could have financed haj pilgrimages for over 900,000 low-income Malaysians across two decades.
Pengurusan Aset Air Bhd has issued RM720 million in blue sukuk through a special purpose vehicle, drawing from its RM2 billion Islamic Commercial Papers Programme to fund water-related initiatives.
Malaysia's cabinet has authorised an expansion of the Royal Commission of Inquiry examining Tabung Haji to include the governance periods under both Pakatan Harapan and Perikatan Nasional administrations, Deputy Prime Minister Ahmad Zahid Hamidi announced.
Malaysia's anti-corruption agency has initiated a formal investigation into findings from the Tabung Haji Royal Commission of Inquiry, sending investigators to TH headquarters in a significant escalation of scrutiny over the troubled pilgrim fund manager.
Tabung Haji has successfully addressed RM12.6 billion in accumulated investment losses through its recovery plan, with RM10 billion resolved via 2018 asset sales and remaining RM2.6 billion recognised through 2025.
Prime Minister Anwar Ibrahim has blamed greed, poor governance, and financial mismanagement for bringing Tabung Haji to the brink of collapse. The pilgrim fund is undergoing major restructuring efforts.
Prime Minister Anwar Ibrahim has scheduled a special parliamentary session for August 11 to debate the Royal Commission of Inquiry findings on Tabung Haji, Malaysia's hajj savings fund.
Prime Minister Anwar Ibrahim says Lembaga Tabung Haji has been successfully restored after problems from past negligence were detected early. The Cabinet released the full RCI report examining the institution's management between 2014 and 2020.
Malaysia's government will accelerate implementation of the final quarter of Royal Commission of Inquiry recommendations for Tabung Haji, the pilgrimage fund manager, Religious Affairs Minister Zulkifli Hasan announced.
Bersatu Youth has demanded that the Malaysian Anti-Corruption Commission and police immediately investigate those responsible for alleged mismanagement at Lembaga Tabung Haji during the previous Barisan Nasional administration.
Former Prime Minister Ismail Sabri has called for the public release of findings from the Royal Commission of Inquiry into Tabung Haji, asserting that Umno has nothing to hide regarding the pilgrimage fund's affairs.
A Royal Commission of Inquiry has determined that Tabung Haji's 2017 financial statements significantly misrepresented the institution's position, concealing a RM1.4 billion loss beneath a reported RM3.4 billion profit through improper accounting practices.
A Royal Commission of Inquiry has exposed significant governance deficiencies and political interference in Tabung Haji's operations from 2014 to 2020, with findings suggesting the pilgrim fund's legislative framework requires modernisation.
Air Selangor has successfully issued the world's inaugural blue sukuk valued at RM200 million, establishing a new benchmark for sustainable water financing in Malaysia's Islamic capital markets.
Malaysia's Cabinet has approved extending the Royal Commission of Inquiry review on Tabung Haji to cover the new management transition phase, with plans to declassify and publicly release the report alongside parliamentary debate.
Prime Minister Anwar Ibrahim has stressed that the forthcoming Royal Commission of Inquiry report into Tabung Haji is intended to guide future improvements rather than assign fault for past failures.
Over 400 officials and practitioners gathered in Terengganu to chart the future of Malaysia's Baitulmal institutions, emphasizing digital innovation and competitive financial products to address contemporary economic challenges.
Malaysia's Minister of Religious Affairs has urged Baitulmal institutions to transform from traditional aid distributors into engines of wealth creation, emphasizing Islamic social finance and digital innovation as key drivers for sustainable community development.
Sultan Nazrin Shah has called for an internationally coordinated framework of waqf governance standards to improve management of Islamic endowments worldwide, proposing digital transparency measures and a regional climate-resilience initiative.
Malaysian experts are pressing the government to promptly release the Tabung Haji RCI report, arguing transparency is vital to safeguard depositors' interests and rebuild confidence in the Islamic pilgrimage savings institution.
Barisan Nasional has expressed openness to releasing the Royal Commission of Inquiry report on Tabung Haji to Parliament or the public, should the Cabinet decide to proceed with disclosure.
Prime Minister Anwar Ibrahim has signalled the government may release the Royal Commission of Inquiry report into Tabung Haji, the Islamic pilgrimage savings institution. The inquiry's findings hold significant implications for Muslim savings and trust in state institutions.
Prime Minister Datuk Seri Anwar Ibrahim signalled the Royal Commission of Inquiry report into Tabung Haji could be released today or by Wednesday, depending on whether Cabinet clearance is needed for publication.
The Sultan of Perak has underscored that nations require far more than natural resources and talent to thrive. Strong institutions, transparent governance, and accountable leadership are fundamental to preventing state failure and protecting vulnerable populations.
Permodalan Nasional Bhd has unveiled an innovative investment model combining Islamic jurisprudence with environmental and social governance standards, positioning Malaysia as a leader in values-based Islamic finance.
National Power and Energy has raised RM54 million through a sustainability-linked sukuk for NPE2, a 6.4km elevated highway connecting Pantai Dalam to Jalan Istana Interchange. The issuance marks the first of its kind globally for a highway project.
Malaysia has formalised a strategic partnership with Oman to advance waqf development and Islamic social finance innovation, positioning itself as a regional hub for endowment expertise and attracting international investment.
Malaysia continues to earn global recognition for excellence in managing Islamic affairs, with particular strengths in halal certification, Islamic finance leadership, and comprehensive religious education programmes, says Religious Affairs Minister Dr Zulkifli Hasan.
Lembaga Tabung Haji and Bank Islam have jointly launched a RM1 million initiative to train and place asnaf youth and orphans in skilled professions, targeting over 100 beneficiaries through partnerships with education and industry leaders.
Pengurusan Aset Air Bhd has unveiled Malaysia's inaugural sustainable Islamic finance framework, incorporating blue finance and securing platinum-rated certification. The move aims to accelerate investment in water infrastructure and environmental sustainability.