RCI findings on Tabung Haji declassified

The Cabinet was briefed today by Tabung Haji’s top management on the RCI report which covers the pilgrim fund board’s management from 2014 to 2020, including the transfer of underperforming assets to a special purpose vehicle.PETALING JAYA: The Cabinet has approved the declassification of the royal commission of inquiry report on Tabung Haji (TH), paving the way for its public release and a full investigation by enforcement agencies into any potential legal breaches.Government spokesman Fahmi Fadzil said the Cabinet was briefed today by TH's top management on the RCI report, which covers the pilgrim fund board’s management from 2014 to 2020, including the transfer of underperforming assets to a special purpose vehicle.“The Cabinet agreed that the report would be declassified and made public today,” he said in a statement.“It will also be tabled and debated at a special sitting of the Dewan Rakyat in the near future.”The Cabinet also agreed that enforcement agencies should immediately proceed with a full investigation based on the report’s findings, with any party found to have breached the law to be brought to justice.Fahmi said the Cabinet noted that the report contained 25 recommendations for improvements, of which TH’s management had already implemented 75%.He said the Cabinet also took note of TH’s announcement of a 3.5% profit distribution for the 2025 financial year, reflecting improvements in the fund’s management.The RCI was established in 2021 to investigate Tabung Haji’s management, operations and asset-related issues between 2014 and 2020, following concerns over governance and the fund’s financial position.The inquiry, chaired by former chief justice Raus Sharif, also examined the transfer of underperforming assets to special purpose vehicle Urusharta Jamaah Sdn Bhd after 2018.The inquiry completed its report in July 2022.Last week, Prime Minister Anwar Ibrahim said the report’s release was delayed to “avoid panic” among depositors.He said the government was concerned that publishing the report could trigger mass withdrawals that might destabilise the fund.Anwar said the situation has since changed as Tabung Haji was now in a stronger position following reforms and improved management.