What specific risks did the government foresee from early RCI report release?

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Government Foresees Depositor Panic and Fund Withdrawals from Early Tabung Haji RCI Report Release

The Malaysian government declassified and released the Royal Commission of Inquiry (RCI) report on Tabung Haji on July 29, 2023, after a delay of approximately three years. Prime Minister Datuk Seri Anwar Ibrahim stated that the report was withheld during previous administrations to prevent potential panic among depositors, which could have led to widespread withdrawals of their savings from the pilgrims' fund.
RCI Report Declassification and Rationale for Delay

The RCI report, which was presented to the Yang di-Pertuan Agong on August 30, 2022, under the premiership of Datuk Seri Ismail Sabri Yaakob, was ultimately declassified and made public in July 2023. Prime Minister Anwar Ibrahim's explanation for the extended delay centres on the potential negative impact on Tabung Haji's financial stability. The concern was that premature disclosure of the report's findings could trigger fear among Tabung Haji depositors, prompting them to withdraw their funds en masse.
Tabung Haji's Operational Context

Tabung Haji, as a key institution for Malaysian Muslims saving for the Hajj pilgrimage, manages significant assets. The potential for a run on the fund, driven by depositor anxiety over the RCI findings, was considered a substantial risk to its operational continuity and financial health. This apprehension guided the decision to withhold the report's release until a later, more opportune moment, as explained by the current Prime Minister.
Timeline of RCI Establishment and Presentation

The RCI itself was a process that spanned multiple administrations. The initial decision to establish the RCI was made by the Cabinet in August 2020 during Tan Sri Muhyiddin Yassin's tenure, with the scope of investigations finalised in October 2021. The RCI members, including former chief justice Tun Md Raus Sharif, were appointed in January 2022. The completed report was dated July 19, 2022, and formally presented to the Yang di-Pertuan Agong on August 30, 2022, before its eventual public release in July 2023.

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What specific risks did the government foresee from early RCI report release?

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