Did Abdul Azeez have sole approval authority for Tabung Haji transactions?

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Abdul Azeez Did Not Possess Sole Approval Authority for Tabung Haji Transactions

As the non-executive chairman of Tabung Haji, Datuk Seri Abdul Azeez Abdul Rahim stated that he did not hold the sole authority to approve transactions or investments. His role involved overseeing proposals that had already undergone review by the investment panel and risk management division before being presented to the board of directors. He clarified that as an ordinary chairman, the responsibility for providing explanations and reports lay with the top management after these initial assessments.
Transaction Approval Process

Every proposal brought before the Tabung Haji board required a thorough vetting process. This involved the investment panel and the risk management division scrutinising the details before any decision could be made. This multi-stage review ensured that decisions were not made unilaterally by the chairman.
Role of Non-Executive Chairman

Abdul Azeez distinguished his position as a non-executive chairman from that of an executive chairman. He explained that in his capacity, he was an "ordinary chairman" and the operational aspects, including the preparation of detailed reports and explanations, were handled by the top management. This structure indicates a division of responsibilities within the organisation.
Management's Reporting Responsibility

The accountability for presenting comprehensive information to the board rested with the top management team. They were tasked with providing the necessary explanations and reports, which were contingent upon the prior review and approval by both the risk management division and the investment panel. This process underscored the collaborative nature of decision-making at Tabung Haji.

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Did Abdul Azeez have sole approval authority for Tabung Haji transactions?

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