KUALA LUMPUR — Prime Minister Datuk Seri Anwar Ibrahim has backed a proposal by Lembaga Tabung Haji (TH) to place its investment activities under the regulatory supervision of either the Securities Commission Malaysia (SC) or Bank Negara Malaysia (BNM).
Anwar, who is also Finance Minister, said the move was appropriate to ensure TH’s operations were subject to stricter oversight while preventing potential abuse of power and governance failures in the future, Bernama reported.
He said the initiative introduced by TH’s new management, led by chairman Tan Sri Abdul Rashid Hussain, was a positive step towards improving accountability and strengthening governance at the country’s pilgrimage fund.
“This is, in my view, appropriate, and I have been briefed by them and support the measures, including several proposed amendments to the Tabung Haji Act 1995,” he told reporters after performing Friday prayers at Masjid Bukit Indah, Ampang Jaya, here today.
Anwar said placing TH’s investment operations under the supervision of a financial regulator would ensure stronger checks and balances, preventing weaknesses in governance from being overlooked as had occurred in the past.
The proposal comes after Abdul Rashid said yesterday that TH was working on a new regulatory framework to place its investment operations under the statutory oversight of the SC.
He said the decision followed almost six months of discussions by a joint task force formed to study the proposed framework.
The task force includes representatives from the SC and BNM, with the objective of ensuring TH’s investment management practices comply with Malaysia’s capital market regulatory standards.
The move is part of broader efforts to strengthen governance at the institution following past concerns over its investment management practices and oversight mechanisms. – September 4, 2026