Tabung Haji Savings & Investment: What Malaysian Depositors Should Know
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Tabung Haji savings and investment encompass equity trading, equity dividends, debt securities, financing, leasing, money market instruments and other financial tools.
Records show that approximately RM73 billion in deposits from 9 million depositors have been managed by Tabung Haji.
Looking back, it was recently declared that hibah (dividend) payments had actually violated Tabung Haji''s own act.
The 2017 Tabung Haji account report also revealed a deficit of RM4.1 billion as of 31 December 2017.
However, the parliamentary report was disputed by the argument that Tabung Haji uses a realisable asset value calculation method based on current market value.
For 2017, the realisable asset value was RM74.7 billion compared to liabilities including hibah payments totalling RM74.4 billion — an asset surplus of RM373 million.
For 2016, the realisable asset value was RM69.1 billion compared to liabilities including hibah payments totalling RM68.4 billion — an asset surplus of RM701 million.
For 2015, the realisable asset value was RM64.7 billion compared to liabilities including hibah payments totalling RM63.3 billion — an asset surplus of RM1.4 billion.
Tabung Haji has never disappointed depositors who are eligible to perform the Hajj pilgrimage.
This is why depositors have remained loyal to Tabung Haji — the organisation has served countless depositors who wish to fulfil their Hajj obligation.
Even after the 2018 hibah announcement, depositors continued to place their full confidence in Tabung Haji.
A total of 133,000 new depositors were added, with new deposits amounting to RM83 million.
From April to June 2019, following the hibah announcement on 5 April 2019, Tabung Haji recorded more than 46,000 new depositors.
This was all a result of the recovery and restructuring of Tabung Haji.
Furthermore, there were no reports of depositors withdrawing all their savings up to June 2019.
So, was the Tabung Haji issue being politicised?
Was the government''s decision to sell RM19.9 billion worth of assets to an SPV warranted when the deficit was only RM4.1 billion?
Why did the national audit findings differ from the Religious Affairs Minister''s statement? Why was this not disclosed by the Minister?
Whatever challenges Tabung Haji faces at present, they are expected to be resolved soon.
Moving forward, how is the recovery being implemented for Tabung Haji?
When stating that the RM3 billion withdrawal this time matches previous withdrawal amounts, why have dividends been decreasing?
Investing in Tabung Haji certainly has its advantages.
Besides the opportunity to perform the Hajj, Muslim depositors need not worry as all financial instruments used are fully Shariah-compliant.
Depositors gain benefits in this world and, more importantly, in the hereafter.
If hibah is what depositors desire, that expectation is no longer a guaranteed advantage of investing in Tabung Haji at present, as returns are no longer as consistent as before.
When the government changed hands, many controversies were linked to Tabung Haji.
It was said that the current government sought to cleanse the leadership of unwanted elements.
Even if these shortcomings truly occurred within Tabung Haji, we should all pray that the problems afflicting this institution find their solution swiftly.
Depositors'' hope is simply to see this institution remain strong on the world stage.
Do not jump to conclusions!
No one wants this blessed institution to collapse.
Let the authorities carry out their duties fairly and justly.
We must give the government a chance, even if not all manifesto promises have been fulfilled.
The responsibility shouldered by the government will determine the direction and future of Tabung Haji.
If there is still no change, come the next term — do not vote wrongly!
Successful investing begins with solid knowledge.
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Tabung Haji offers consistent dividend returns, fully Shariah-compliant savings, and the convenience of performing the Hajj. Depositors'' funds are invested in a Shariah-compliant portfolio including equities, sukuk and property — making it a savings and investment platform in one.
The minimum deposit to open a Tabung Haji account is as low as RM10. To qualify for Hajj registration, depositors need a minimum balance of RM1,300 (Peninsular Malaysia) or RM1,000 (Sabah/Sarawak). Deposits can be topped up periodically according to your means.
Tabung Haji is a statutory body under the Ministry of Finance Malaysia. Although deposits are not protected by PIDM like conventional banks, Tabung Haji is strictly regulated by the government and has a strong track record since its establishment in 1963.
Yes, Tabung Haji depositors can also invest in Bursa Malaysia stocks individually through a CDS account. This allows you to diversify your portfolio — stable savings in Tabung Haji, with potentially higher returns through your own stock picks.
Tabung Haji is an excellent starting point for Shariah-compliant savings, but if you want to grow your investment portfolio more actively, having a CDS account allows you to invest directly in stocks on Bursa Malaysia.
Open a CDS account today to start building your own stock investment portfolio.
Download our free stock basics ebook to understand the first steps in the world of stock investing.
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