Sharp, essential news and analysis from Malaysia.
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The Malaysian Anti-Corruption Commission has secured a seven-day remand order for a former Tabung Haji chairman and an ex-Treasury secretary-general as part of an ongoing investigation into alleged financial irregularities.
A former CEO of Lembaga Tabung Haji made an appearance at Putrajaya Court for a remand hearing as judicial authorities consider the continuation of his detention in an ongoing case.
Tabung Haji stresses that depositor trust and financial stability should take priority over dividend announcements, following a RM10 billion financial crisis revealed by a Royal Commission inquiry.
Economists have flagged serious governance concerns over Tabung Haji's practice of using internal management estimates to value RM4.044 billion in property assets, rather than relying on independent professional assessments, raising questions about financial prudence.
Prime Minister Anwar Ibrahim has forcefully asserted that fund siphoning at Tabung Haji was real, dismissing objections to the term 'sakau' as RM12 billion went missing from the Muslim pilgrimage savings institution.
Islamic social finance holds significant potential to address poverty and drive economic growth, according to Malaysia's Minister in the Prime Minister's Department (Religious Affairs). The government plans to strengthen the sector through wider collaboration.
Lawmakers are calling for a coordinated multi-agency investigation into historical irregularities at Lembaga Tabung Haji, with particular focus on whether the hajj fund operator's management failures connect to the 1MDB scandal.
The High Court heard testimony that former PM Najib Tun Razak returned US$620 million after the 2013 general election because he felt uncomfortable retaining such large funds, offering fresh insight into disputed financial transfers.
Malaysia plans to amend the Tabung Haji Act 1995 to strengthen financial reporting and governance, responding to a Royal Commission of Inquiry report. Changes include Securities Commission oversight of investments and stricter bonus controls.
President Trump is pursuing the removal of Federal Reserve Governor Lisa Cook over mortgage fraud allegations, according to White House correspondence, after the Supreme Court rejected his earlier attempt in June.
Malaysia's anti-graft watchdog has completed questioning a former top financial officer at Tabung Haji following a nine-hour interrogation session that began in the morning and extended into the evening.
A special parliamentary sitting scheduled for August 11 will debate the Royal Commission of Inquiry report on Tabung Haji. Between 35 and 40 Members of Parliament have confirmed their intention to participate in the continuous session.
Tabung Haji's RM10 billion loss between 2014-2020 could have funded haj pilgrimages for over 900,000 B40 income earners for more than 20 years, according to economic analysts examining the Royal Commission of Inquiry findings.
Prime Minister Anwar Ibrahim has vowed to end any cover-ups surrounding the Tabung Haji Royal Commission of Inquiry, pledging complete transparency as investigations into the pilgrimage fund scandal intensify.
A Royal Commission of Inquiry report has disclosed that Tabung Haji should have reported a RM1.4 billion net loss in 2017, contradicting its published RM3.4 billion profit figure. The findings point to serious accounting violations and financial mismanagement.
A Royal Commission of Inquiry has determined that Tabung Haji should not have distributed RM2.75 billion in hibah in 2017, citing unsustainable practices and audit failures that precipitated the fund's financial crisis.
Malaysia's Royal Commission of Inquiry into Tabung Haji has called on authorities to act decisively on multiple police reports filed over alleged breaches in the Islamic pilgrim fund's operations and management between 2014 and 2020.
Malaysia's Royal Commission of Inquiry into Tabung Haji has recommended forensic audits of 14 past investments that caused substantial losses, while flagging critical financial risks from asset transfers to a subsidiary entity.
Malaysia's Cabinet has authorized the declassification and public release of the Royal Commission of Inquiry report on Lembaga Tabung Haji for the 2014-2020 period, with the pilgrimage fund having implemented three-quarters of the commission's recommendations.
Malaysia's anti-corruption watchdog is activating international channels to support its investigation into the Retirement Fund Incorporated's investment dealings, seeking assistance from Dubai, Singapore and Indonesia.
Prime Minister Anwar Ibrahim has disclosed that the Tabung Haji RCI report remains unreleased to prevent public alarm and withdrawal runs, citing stability concerns for the pilgrimage fund.
Prime Minister Anwar Ibrahim has indicated that the Royal Commission of Inquiry's final report on Tabung Haji could be released today or by Wednesday, contingent on whether Cabinet approval is needed.
The Malaysian Anti-Corruption Commission has launched an investigation into Retirement Fund Inc's reported RM200 million loss following its investment in Indonesian aquaculture firm eFishery, with officials visiting KWAP's headquarters this week.
Prime Minister Anwar Ibrahim has pledged zero tolerance for corruption in the Retirement Fund's investment in aquaculture start-up eFishery, directing the Malaysian Anti-Corruption Commission to conduct a full probe of the decision-making process.