KUALA LUMPUR – Lembaga Tabung Haji (TH) declared the profit rate after zakat of 3.1 percent for the financial year ending 31 December 2021.
It involved the distribution of RM2.46 billion, RM219 million higher than the RM2.24 billion for financial year ending 2020.
Minister at Prime Minister’s Department (Religious Affairs), Datuk Idris Ahmad said, the profit distribution was driven by the better financial performance and position. At the same time, it was also based on the sustainable investment strategy and prudent cost management measures.
“The profit distribution is competitive, considering the factors that the distribution rate for 2021 is higher than the average Fixed Deposit rate of Islamic Banking for the period of 12 months at 2.36 percent,” he said while announcing the profit distribution of TH 2021.
During the announcement, Idris said that the financial position of TH remained strong with RM88.73 billion of assets exceeding its liabilities of RM85.51 billion on 31 December 2021.
Meanwhile, the government guaranteed savings deposit have reached RM83.33 billion.
According to Idris, TH is able to maintain a sustainable profit distribution despite the challenging economy situation.
“This is the highest amount in the history of TH since 59 years of establishment. The operational cost has also dropped by four percent compared to 2020, a result from the prudent financial management,” he added.
When asked about why TH recorded the similar rate for three years in a row although there was no Hajj operation for two years, its Chairman, Tan Sri Azman Mokhtar said that the management had to consider from the aspect of other operational savings and the savings of the depositors.
“Although we managed to save cost, we cannot save all the costs, such as the management and other costs,” he said. -MalaysiaGazette
