Round-the-clock breaking news from Malaysia.
Tabung Haji faced severe financial strain as liabilities outpaced assets, triggering comprehensive recovery measures and a royal investigation into its operations between 2014 and 2020.
The Malaysian Anti-Corruption Commission has deployed eight officers to Tabung Haji's Kuala Lumpur headquarters to examine financial records and organisational documents as part of an active investigation into the Islamic pilgrimage fund.
A Royal Commission of Inquiry into Tabung Haji's RM10 billion loss reveals the institution squandered funds that could have subsidised hajj pilgrimages for over 900,000 lower-income Malaysians. Experts call for governance reforms and accountability.
Pengurusan Aset Air Bhd has successfully issued RM720 million in blue sukuk, targeting investment in Malaysia's critical water infrastructure and environmental sustainability initiatives.
Malaysia's anti-corruption watchdog has launched a formal investigation into Tabung Haji following a damning Royal Commission of Inquiry report, with enforcement teams now stationed at the pilgrim fund's headquarters.
Tabung Haji's 2018 recovery programme has successfully addressed RM12.6 billion in losses through government-backed asset sales and restructuring, with profit distributions rising from 1.25% to 3.50% by 2025.
The Muslim Youth Movement of Malaysia has called for sweeping reforms at Tabung Haji, emphasising that recommendations from a Royal Commission of Inquiry must be implemented fully and monitored continuously to restore public confidence.
Prime Minister Anwar Ibrahim has called for transparent investigations into findings from the Royal Commission of Inquiry into Lembaga Tabung Haji, pledging that no wrongdoer will be shielded from accountability.
Prime Minister Anwar Ibrahim has confirmed that Malaysia's Parliament will hold an extraordinary sitting on August 11 to debate the Royal Commission of Inquiry report examining Tabung Haji, the country's Islamic pilgrimage fund.
Prime Minister Anwar Ibrahim says Lembaga Tabung Haji has been successfully restored to financial stability after problems arising from past negligence and mismanagement were detected early, with the Cabinet agreeing to release the Royal Commission of Inquiry report.
Malaysia's government pledges to accelerate implementation of outstanding Tabung Haji reforms, with three-quarters of Royal Commission recommendations already in place. The institution earned a Diamond Award for haj management.
The government's RM88 billion guarantee for Tabung Haji depositors will only be triggered if the pilgrim fund fails to execute its recovery plan, according to a Royal Commission of Inquiry report investigating the board's 2014-2020 operations.
Deputy Prime Minister Ahmad Zahid Hamidi has indicated the Cabinet is considering an expanded remit for the Royal Commission of Inquiry into Tabung Haji, suggesting a wider probe could better assess rehabilitation progress.
Malaysia's Islamic Development Department has published a comprehensive 211-page Royal Commission of Inquiry report examining Tabung Haji's management and operations over a six-year period, including findings and reform recommendations.
A Royal Commission inquiry has concluded that Tabung Haji should not have distributed RM2.75 billion in hibah for 2017, citing unsustainable payouts and creative accounting as key factors behind the pilgrim fund's financial crisis.
Air Selangor has successfully priced the world's first blue sukuk and Malaysia's inaugural blue bond, valued at RM200 million with a 15-year tenure, signalling a shift towards sustainable financing in water infrastructure.
Malaysia's Royal Commission of Inquiry into Tabung Haji has flagged 14 investment decisions for forensic audit, citing substantial asset impairments. The inquiry also emphasises risks from UJSB sukuk obligations to the nation's financial stability.
Prime Minister Anwar Ibrahim has clarified that the release of the Tabung Haji Royal Commission of Inquiry report is intended to strengthen the institution going forward, rather than merely scrutinising its troubled past.
Malaysia's Tabung Haji is systematically implementing Royal Commission recommendations to strengthen depositor protection and institutional resilience. The Cabinet has declassified the RCI report, reflecting government commitment to transparency and accountability in Islamic fund management.
Malaysia's Cabinet has approved the public release of a Royal Commission of Inquiry report into Tabung Haji's financial crisis, which exposed a RM10.9 billion deficit gap. The report, covering 2014-2020, will be debated in Parliament as enforcement agencies investigate findings.
Prime Minister Anwar Ibrahim has declared that officials responsible for alleged losses and misuse of power at Tabung Haji will not escape accountability, with investigations and prosecution to proceed where evidence warrants.
The Malaysian government plans to convene a special Dewan Rakyat sitting to allow MPs to examine the declassified Royal Commission of Inquiry report on Tabung Haji, with 75% of recommended reforms already implemented.
Malaysia's religious affairs division is spearheading 19 major waqf projects valued at RM321 million across the country. The National Waqf Master Plan 2025-2030 is set for Cabinet approval this year.
Malaysia's recent US$1.5 billion global sukuk offering attracted nearly five times the amount offered, demonstrating investor appetite for Malaysian assets and confidence in the nation's economic trajectory and reform initiatives.
Malaysia's sixth National Baitulmal Convention gathered over 400 professionals to chart the future of Islamic social finance, with emphasis on digital innovation and progressive financial instruments to drive economic growth.
Malaysia's Minister in the Prime Minister's Department (Religious Affairs) Dr Zulkifli Hasan has called for Baitulmal institutions to evolve beyond traditional charity distribution towards creating sustainable economic opportunities and wealth generation for Muslim communities.
Sultan Nazrin Shah has proposed establishing internationally adoptable waqf governance standards to strengthen Islamic endowment management globally, calling for digital transparency and a regional climate resilience initiative.
Agrobank has unveiled the Halal@Agrobank initiative to cultivate 10,000 agrifood entrepreneurs over the next five years, committing RM1 billion in halal-compliant financing and helping 1,500 businesses secure halal certification.
Prime Minister Anwar Ibrahim signals the government may release the final Royal Commission report into Tabung Haji's crisis. Here's what went wrong and why it matters for Malaysia.
Prime Minister Datuk Seri Anwar Ibrahim has indicated that the Royal Commission of Inquiry report into Tabung Haji could be made public today if no further Cabinet endorsement is needed.
Sultan Nazrin Shah has stressed that nations cannot succeed through resources and talent alone, declaring that strong institutions, transparent governance, and accountable leadership are fundamental to serving citizens effectively and preventing state failure.
Permodalan Nasional Bhd has unveiled an investment model combining Maqasid al-Syariah principles with Environmental, Social and Governance standards, marking a significant step forward for Malaysia's Islamic finance landscape.
The Selangor Zakat Board has introduced IKTIRAF, Malaysia's inaugural certification programme honouring companies that faithfully discharge their business zakat duties, aiming to boost corporate participation in Islamic financial obligations.
Malaysia has formalised a strategic partnership with two Omani institutions to advance waqf development and Islamic social finance innovation, marking recognition of the country's expertise in the sector.
Malaysia continues to earn global recognition as a leading nation in managing Islamic affairs, with particular strengths in halal certification, Islamic finance ranking first worldwide for 11 consecutive years, and comprehensive Islamic education initiatives.
Tabung Haji and Bank Islam have jointly launched the DAYA INSANI programme with RM1 million in funding to provide skills training and employment opportunities for disadvantaged youth and orphans across Malaysia.
Water asset management company PAAB has unveiled Malaysia's inaugural sustainable Islamic finance framework, incorporating blue finance innovation. The company plans to issue blue sukuk by Q3 2024 to fund critical water infrastructure.