KUALA LUMPUR: The brand rejuvenation of Lembaga Tabung Haji is being carried out under strict guidelines and monitored by its board of directors and Syariah Advisory Committee.
Tabung Haji group managing director and chief executive officer Mustakim Mohamad explained that all haj policies and affairs are fully overseen by Tabung Haji management, the board of directors, the Syariah Advisory Committee, and the Haj Advisory Committee.
He said the Tabung Haji brand rejuvenation is a strategic move to strengthen its role as an Islamic savings institution that remains relevant to current needs, while ensuring Malaysian Muslims can perform the haj in a more organised and secure manner.
“It also aims to increase individual savings levels, strengthen the work culture and provide modern digital services that meet the needs of the younger generation,” he said in a statement on thursday (Aug 28).
He added that in light of the low savings rate among depositors, the brand rejuvenation is also an effort to encourage more Muslims to save consistently for the haj.
Mustakim said low savings levels have led to half of the depositors who receive haj offers each year having to decline or defer their turn, despite the availability of haj financial assistance.
“Many depositors who are financially capable tend to save with other financial institutions and only transfer the full haj payment to their Tabung Haji accounts after their appeals are approved to fill the vacancies left by those unable to accept the haj offer,” he said.
Meanwhile, Tabung Haji chairman Tan Sri Abdul Rashid Hussain, in the same statement, said Tabung Haji is not widely seen as a savings institution capable of attracting consistent deposits, especially when competing with more attractive savings and investment products such as unit trusts, gold, education funds and private retirement schemes.
He added that the number of Tabung Haji depositors currently stands at 9.6 million, indicating that 50% of Malaysia’s Muslim population has yet to open a Tabung Haji account.
“More concerning is that data also shows that 53% of depositors do not have savings of at least RM1,300, the minimum amount required to register for the haj,” he said. – Bernama
