TH targets over 50 per cent of Muslims as depositors by end 2024

KUALA LUMPUR - The Lembaga Tabung Haji (TH) aims for more than 50 per cent of Muslims to have a TH account by the end of next year.

Minister in the Prime Minister's Department (Religious Affairs) Datuk Dr Mohd Na'im Mokhtar said until August 2023, more than 45 per cent of the total 18 million Muslims in the country have opened a TH account.

"From only 1,281 depositors with savings of RM46,610 at the beginning, TH now has almost nine million depositors with total savings of over RM89 billion, among the highest since its establishment 60 years ago,” he said.

He said this while speaking at the TH 60th anniversary celebration at Menara TH which was officiated by Prime Minister Datuk Seri Anwar Ibrahim.

Mohd Na'im said that TH, after going through various evolutions, managed to grow rapidly and is an Islamic institution with extensive experience in hajj management and Syaariah-compliant fund administration that is an inspiration to other Muslim countries.

He said TH will continue to work hard to reach the target fund size of RM100 billion by 2024.

According to him, through the HIJRAH24 Strategic Transformation Plan which was introduced in early 2022, TH has increased the fund size by RM5.7 billion, from RM83.3 billion to RM89 billion.

To date, TH has managed a total of 1.5 million hajj pilgrims to fulfil the fifth pillar of Islam, in addition to spending RM2.5 billion in hajj financial aid to ease the burden of prospective hajj pilgrims since 2001.

TH who won the Labaittom Award from the Government of Saudi Arabia for the Best Hajj Guide Service category in the Islamic World at the 2023 Hajj and Umrah Services Conference in Jeddah, has also distributed profits amounting to more than RM40 billion to its depositors over a period of 60 years. - BERNAMA