TH Should Bolster Its Sustainability, Protect Depositors’ Interests -- Expert

KUALA LUMPUR, Aug 10 (Bernama) -- Lembaga Tabung Haji (TH) needs to bolster its institutional sustainability to ensure that it is not only able to survive in the long term, but also has a strong governance structure, risk management and investment strategy to protect the interests of depositors. 

Universiti Teknologi MARA Faculty of Business and Management senior lecturer Abdul Rahim Ridzuan said the significance of the Royal Commission of Inquiry (RCI) Report rests on its purpose to restore confidence through transparency, as well as build a stronger system for society. 

“We want to avoid a situation where the RCI serves only as a historical report; we want it to be a basis for reform so that the weaknesses identified are not repeated,” he said during Bernama TV’s Fokus15 programme entitled “RCI Tabung Haji: Mengukur Kos Keyakinan terhadap Ekonomi” aired today. 

Abdul Rahim said economic growth and confidence in institutions are dual, interrelated aspects that cannot be separated, as a strong economy requires trusted institutions. 

At the same time, he said, confidence in institutions is easier to maintain when economic growth delivers tangible results for the people. 

He said this is an economic chain as good governance builds confidence, and confidence attracts investment.

“Further investments will grow capacity and technology, while technology will increase productivity, thus creating more high-value jobs and ultimately increasing the people's wages and purchasing power.

“This is the economic chain that we want to achieve as much as possible,” he said. 

-- BERNAMA