How will Tabung Haji shorten the haj waiting period for depositors?

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Tabung Haji to Focus on Reducing Haj Waiting Period Following Financial Recovery

Tabung Haji (TH) intends to prioritise shortening the waiting period for depositors to perform the haj pilgrimage. This focus will be pursued now that the board has successfully addressed its financial deficit. The improved financial standing, with total assets of RM76.5 billion and an asset surplus of RM1 billion as of December 31, 2018, was achieved in less than a year after new management took over in June 2018. With its financial position restored, TH plans to undertake financial restructuring to benefit its depositors, which is also expected to lead to a higher hibah (dividend) for 2019 if successful.
Restructuring Finances for Depositor Benefit

Following the successful offsetting of its financial deficit, the management of Tabung Haji will now concentrate on restructuring the board's finances. This strategic shift is aimed at enhancing the overall benefits for its depositors. The successful restoration of TH's financial position, achieved in under a year by the new management that took charge in June 2018, has created the opportunity to pursue these new objectives.
Aim to Shorten Haj Waiting Times

A primary objective for Tabung Haji is to reduce the lengthy waiting periods that depositors currently face before they can perform the haj pilgrimage. Some depositors have been reported to face waiting times of up to 100 years. The Minister in the Prime Minister’s Department, Datuk Seri Dr Mujahid Yusof, indicated that this issue will be a key focus for the TH management moving forward.
Potential for Higher Dividend Payouts

The financial restructuring undertaken by TH is anticipated to yield positive outcomes for depositors beyond a reduced haj waiting period. Should the planned restructuring proceed smoothly, there is an expectation that the hibah, or dividend, for the financial year 2019 will be higher. This prospect offers a tangible benefit to depositors who have maintained their confidence in TH.
Maintaining Depositor Confidence

Despite past challenges that led to a record low hibah announcement, depositors have shown continued confidence in Tabung Haji. Transactions at all TH branches have proceeded as usual, with no significant or unusual withdrawals reported. This sustained trust provides a stable foundation for the board to implement its new strategic priorities, including the reduction of haj waiting times and financial restructuring.

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How will Tabung Haji shorten the haj waiting period for depositors?

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