Sharp, essential news and analysis from Malaysia.
Malaysian National Reinsurance Bhd is selling its complete ownership in Takaful IKHLAS Family and Takaful IKHLAS General to Bank Rakyat for RM1.64 billion, marking a strategic shift towards its core reinsurance operations.
Dr Zulkifli Hasan will present the long-awaited Royal Commission of Inquiry findings on Tabung Haji mismanagement to parliament next week, marking a pivotal moment for the troubled pilgrimage fund.
Tabung Haji's financial position deteriorated sharply from 2014 to 2020, creating a substantial shortfall between assets and liabilities that forced authorities to launch an ambitious restructuring programme and establish an RCI into governance failures.
The Malaysian government is conducting stakeholder engagement sessions to refine proposed amendments to the Tabung Haji Act 1995, following recommendations from the Royal Commission of Inquiry into the pilgrimage fund's management.
Water asset manager PAAB has raised RM720 million through a blue sukuk issuance, channelling Islamic finance into environmental infrastructure projects as part of its broader RM2 billion funding programme.
Deputy Prime Minister Zahid Hamidi announced the cabinet has approved expansion of the Tabung Haji Royal Commission of Inquiry to investigate the pilgrim fund's operations during the Pakatan Harapan and Perikatan Nasional administrations.
The Malaysian Anti-Corruption Commission has deployed eight investigators to Tabung Haji headquarters following recommendations in a royal commission report detailing mismanagement, suspicious transactions, and severe asset decline at the Islamic financial institution.
Prime Minister Anwar Ibrahim has declared that Tabung Haji, Malaysia's key Islamic financial institution, has been successfully restored following early detection of governance and operational issues. The Cabinet has approved public release of the full Royal Commission of Inquiry report.
Malaysia's government will accelerate implementation of the remaining 25 percent of Royal Commission recommendations for Tabung Haji, with three-quarters of reforms already completed, according to Religious Affairs Minister Dr Zulkifli Hasan.
Former Prime Minister Ismail Sabri has called for the government to publicly release the findings of the Royal Commission of Inquiry into Tabung Haji, asserting that Umno has nothing to conceal regarding the troubled Islamic pilgrimage fund.
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 recommended forensic audits of 14 past investments that caused substantial losses, while flagging critical financial risks from asset transfers to a subsidiary entity.
Air Selangor has successfully issued the world's first blue sukuk, raising RM200 million with a 15-year tenor. The landmark issuance represents a breakthrough in sustainable water financing and reflects growing commitment to environmental resilience.
Prime Minister Anwar Ibrahim has stressed that the release of the Royal Commission of Inquiry report on Tabung Haji is forward-looking, designed to drive reforms rather than assign blame for past failings.
Tabung Haji is systematically executing recommendations from a Royal Commission of Inquiry, with the fund having completed three-quarters of required reforms. The declassification of the report reflects the government's transparency commitment.
Malaysia's Cabinet has authorised the public release of a Royal Commission of Inquiry report into Tabung Haji, following the pilgrims' fund board's recovery from a severe financial crisis that saw liabilities exceed assets by billions of ringgit.
Prime Minister Anwar Ibrahim has confirmed the highly anticipated Royal Commission of Inquiry report into Tabung Haji will be made public today, concluding a prolonged investigation into the pilgrimage fund.
Malaysia's waqf sector is experiencing significant expansion through JAWHAR's 19 flagship projects valued at RM321 million. The National Waqf Master Plan 2025-2030 awaits Cabinet notification, with all state Islamic councils already pledging support.
Malaysia's Department of Waqf, Zakat and Haj convened the sixth National Baitulmal Convention 2026 in Kuala Nerus, gathering 400 participants to examine how Islamic social finance institutions can leverage technology and innovation to strengthen economic empowerment of Muslim communities nationwide.
Malaysia's Religious Affairs Minister has urged Baitulmal institutions to evolve beyond traditional aid distribution into wealth-creating agencies that generate sustainable economic opportunities for Muslim communities through digital innovation and Islamic finance.
Perak Sultan Nazrin Shah has called for a unified international framework for waqf governance, proposing digital transparency platforms and a regional climate-resilience initiative to address underutilised Islamic endowment assets across Southeast Asia.
Agrobank is launching Halal@Agrobank to nurture 10,000 agrifood entrepreneurs over five years, pledging RM1 billion in halal-compliant financing and support for 1,500 businesses seeking certifications as Malaysia taps into a projected US$9.5–10.5 trillion global halal market.
Prime Minister Datuk Seri Anwar Ibrahim has indicated the government may release the Royal Commission of Inquiry report into Tabung Haji's collapse, revealing years of mismanagement and financial losses.
Prime Minister Anwar Ibrahim has indicated the government will shortly release the final Royal Commission of Inquiry report on Tabung Haji, pending consultation with the Chief Secretary on Cabinet protocol.
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.
Sultan Nazrin Shah warned that nations with abundant resources can still fail without strong institutions, transparent governance, and accountable leadership that prioritizes public service over self-interest.
Permodalan Nasional Bhd has unveiled its Maqasid al-Syariah in Responsible Investment framework, blending Islamic principles with environmental and social governance standards to reshape how Muslim investors assess financial performance.
Selangor Zakat Board has launched IKTIRAF, a pioneering certification initiative recognising Malaysian companies that consistently meet their business zakat obligations, aiming to boost corporate awareness and participation.
NPE has issued RM54 million in sustainability-linked sukuk to fund the NPE2 elevated highway project, marking the world's first such offering for a toll road. The financing links repayment to worker safety and environmental performance metrics.
Malaysia has formalised a strategic partnership with two Omani institutions to strengthen waqf asset development and Islamic social finance, positioning itself as a leading hub in Islamic finance innovation across the Muslim world.
Malaysia is gaining international recognition as one of the world's leading nations in Islamic affairs management, with achievements spanning halal certification, Islamic finance, haj services, and education, according to the Minister in the Prime Minister's Department.
Tabung Haji and Bank Islam Malaysia have unveiled a RM1 million DAYA INSANI programme targeting asnaf youth and orphans, combining vocational training with job placement across healthcare, accounting, and technical sectors.
The Selangor Zakat Board has launched a RM26 million agricultural development project designed to generate sustainable income for 48 asnaf participants through structured chilli cultivation and comprehensive training on a 110-acre site in Bukit Beruntung.
Pengurusan Aset Air Bhd has unveiled Malaysia's first sustainable Islamic finance framework incorporating blue finance mechanisms. The initiative, developed with Maybank Investment Bank and RAM Sustainability, aims to mobilise investment in water infrastructure through innovative blue sukuk instruments.