How did the 2018 hibah declaration trigger a RM6 billion withdrawal in 2019?

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The 2018 hibah declaration preceded a RM6 billion net withdrawal in 2019.

A net withdrawal of RM6 billion occurred in 2019, following the announcement of a 1.25 per cent hibah for 2018 made in early 2019. This event took place within a short period.
Hibah Announcement and Subsequent Withdrawal

In early 2019, a hibah, or dividend, of 1.25 per cent for the year 2018 was declared for Tabung Haji (TH). Shortly after this announcement, a significant net withdrawal of RM6 billion took place.
Potential Impact of No Hibah Declaration

The Minister in the Prime Minister’s Department (Religious Affairs), Dr Zulkifli Hasan, highlighted the potential consequences had no hibah been declared at all. He suggested that a panic withdrawal of approximately RM74.5 billion could have occurred in 2018 if such a situation had transpired.
Tabung Haji's Financial Position

At the time, Tabung Haji was technically insolvent. The government had to implement a restructuring plan to restore its financial standing and ensure long-term sustainability.

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How did the 2018 hibah declaration trigger a RM6 billion withdrawal in 2019?

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