TH announces 3.1% hibah for 2020

by TMR / Pic by RAZAK GHAZALI

LEMBAGA Tabung Haji (TH) today announced a competitive profit distribution of 3.1% for the financial year ended Dec 31, 2020, compared with 3.05% in 2019, to all its 9 million depositors.

The 2020 profit distribution involved a total payout of RM2.24 billion against RM2.14 billion in 2019.

Minister in the Prime Minister’s Department (Religious Affairs) Datuk Dr Zulkifli Mohamad Al Bakri said TH’s financial performance remained positive in the year 2020 despite uncertainties affecting the global and domestic economic environment since late 2019 due to the Covid-19 pandemic.

“Alhamdulillah, TH depositors will be able to enjoy better profits despite facing a relatively soft economy last year. As an institution entrusted to administer nearly RM77 billion in deposits of Malaysian Muslims, TH needs to act in the best interest of its depositors and invest the funds wisely to ensure the sustainability of this institution,” he said in a statement.

Total deposits has reached RM76.7 billion as at 26 February 2021, its highest ever level, reflecting the confidence of depositors.

TH has also made a zakat payment amounting to RM106.2 million for 2020 compared with RM86 million in 2019. Therefore, depositors do not have to pay zakat on the savings and profit distribution received. The zakat paid will benefit the asnaf community throughout the country.

All TH transactions will be temporarily unavailable starting from 8pm today until tomorrow at 12 noon to facilitate the profit distribution process.

Depositors may check their account balance after 12 noon tomorrow through the THiJARI mobile application, counters at TH, Bank Islam and Bank Rakyat and electronic platforms under TH strategic partners namely Bank Islam, Bank Rakyat, Maybank and CIMB.

Commenting on the hajj, Zulkifli said the Saudi Arabia government has yet to issue any official statement on this year’s pilgrimage although it has received about 100,000 umrah pilgrims since Nov 1, 2020.

“Although the hajj was postponed last year due to Covid-19, we shall continue to pray for this pandemic to end soon so that we can become Allah’s guests again.

“We have to be prepared for any possibilities. I would advise all prospective pilgrims to join the hajj courses which are currently conducted online. I would also like to remind them to take care of their health by exercising regularly and consuming nutritious food because the hajj rituals will demand physical and mental strength,” Zulkifli said.

TH was established in 1963 with the objective of helping Malaysian Muslims to save
their money for Hajj, the fifth pillar of Islam.