KUALA LUMPUR: Good governance and competent leadership are crucial to prevent a recurrence of problems previously faced by Lembaga Tabung Haji (TH), while enabling the institution to deliver greater benefits to depositors, particularly the younger generation.
IKRAM Malaysia Economic Agenda Team’s data analyst, Mohamad Ikmal Ahmad Nordin, said issues raised in the Royal Commission of Inquiry (RCI) report on TH should be viewed comprehensively by examining the root causes of the problems, despite the institution having undergone a recovery process.
He said leadership competency was among the key areas requiring attention, particularly as TH not only manages Hajj-related affairs but also functions as a financial institution.
“If it is a financial institution, then those at the top should at least have the ability to read accounts or manage money. Perhaps the institution needs to be filled with fund managers, accountants or actuaries, people with such expertise.
“To manage investment matters, hajj management and religious affairs could perhaps be entrusted to the Department of Islamic Development Malaysia (JAKIM) or the minister in charge of religious affairs,” he said on BERNAMA TV’s ‘Darah Muda’ programme, titled ‘RCI Tabung Haji: Amanah Siapa, Masa Depan Kita?’ tonight.
Ikmal said strengthening TH’s governance was also directly linked to the interests of the younger generation, as better and more focused financial management could pave the way for schemes to help them prepare for the Hajj pilgrimage.
“This requires good governance, as well as leadership that is forward-looking and progressive. Young people need to push for this because they understand their own problems. They know how difficult and expensive it is to save for the hajj,” he said.
He said TH should also refocus on its original mandate and rebuild public confidence, including by exploring instruments that could help more Muslims perform the hajj.
At the same time, he supported the continuation of forensic audits of TH-related companies to identify factors that contributed to TH’s previous problems and determine who benefited from the flow of funds.
“If we deal with only one issue and sweep the others under the carpet, these things may happen again. So, I agree that forensic audits should be carried out and continued on the companies under (TH),” he said. – BERNAMA
