SC Ready to Regulate Tabung Haji Investments if Government Approves

The Securities Commission Malaysia (SC) is prepared to take on a regulatory role over Lembaga Tabung Haji’s fund management and investments if the government approves the proposal. SC chairman Datuk Mohammad Faiz Azmi said the final decision rests with the government.

Regulate Tabung Haji

Faiz said the proposal was among recommendations from the Royal Commission of Inquiry review into Tabung Haji. A joint task force involving the SC, Bank Negara Malaysia and Tabung Haji is currently examining the recommendations and determining which proposals should be implemented.

He said the size of Tabung Haji’s investment portfolio should also be considered when assessing the proposed regulatory framework. The review has also proposed establishing a Shariah committee for Tabung Haji, similar to those found in Islamic banks, to provide greater assurance that depositors’ funds are managed according to Shariah principles.

The Securities Commission Malaysia is prepared to regulate Tabung Haji’s investments if the government approves the proposal.

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