Tabung Haji announces profit distribution of 3.10%

Lembaga Tabung Haji (TH), the pilgrims fund board, has announced a competitive profit distribution of 3.10% (after zakat) for the financial year ended Dec 31, 2020, compared with 3.05% in 2019, to all of its nine million depositors.

The 2020 profit distribution involves a total payout of RM2.24 billion against RM2.14 billion in 2019, it said in a statement today.

Minister in the Prime Minister’s Department (Religious Affairs) Zulkifli Mohamad Al Bakri said TH’s financial performance remained positive in 2020 despite the uncertainties affecting the global and domestic economy due to the Covid-19 pandemic.

“Alhamdulillah, TH depositors will be able to enjoy better profits despite the relatively soft economy last year.

“As an institution entrusted with administering nearly RM77 billion in deposits of Malaysian Muslims, TH needs to act in the best interest of its depositors and invest the funds wisely to ensure the sustainability of this institution,” he said.

According to TH, total deposits reached RM76.7 billion as of Feb 26, its highest ever level, reflecting the confidence of depositors.

TH has also made a zakat payment amounting to RM106.2 million for 2020, compared with RM86 million in 2019, meaning that depositors will not have to pay zakat on the savings and profit distribution received.

“The zakat paid will benefit the asnaf community throughout the country,” TH said.

All TH transactions will be temporarily suspended from 8pm today until noon tomorrow to facilitate the profit distribution process.

Depositors can check their account balance after 12pm on March 3 through the THiJARI mobile application, TH counters, Bank Islam and Bank Rakyat, as well as through electronic platforms under TH’s strategic partners, Bank Islam, Bank Rakyat, Maybank and CIMB.

On haj developments, Zulkifli said the Saudia Arabia government has yet to issue any official statement on this year’s pilgrimage although it has received about 100,000 umrah pilgrims since Nov 1, 2020.

“Although the haj was postponed last year due to Covid-19, we shall continue to pray for this pandemic to end soon so that we can become Allah’s guests again. We have to be prepared for any possibility.

“I would advise all prospective pilgrims to join the haj courses which are currently conducted online, and I would also like to remind them to take care of their health by exercising regularly and consuming nutritious food because the haj rituals will demand physical and mental strength,” added Zulkifli.

TH was established in 1963 with the objective of helping Malaysian Muslims save their money for the haj, the fifth pillar of Islam.