by AUFA MARDHIAH

LEMBAGA Tabung Haji (TH) announced the appointment of Tan Sri Abdul Rashid Hussain (picture) effective today.

The former banker and founder of RHB Group replaced Tan Sri Azman Mokhtar who held the position for two years from December 2021.

“TH welcomes the appointment and is grateful to receive a respected and experienced corporate figure who was also the founder of RHB Group, one of the biggest banking groups in the country.

“We are confident that our collective efforts to strengthen TH will continue with his experience and leadership,” TH Group MD and CEO Syed Hamadah Syed Othman said in a statement today.

Abdul Rashid established Rashid Hussain Securities Sdn Bhd in 1983, transforming it into one of Malaysia’s largest integrated financial service groups.

He also served as a board member and chairman of the executive committee of Khazanah Nasional Bhd from 1994 to 1998, along with being the chairman of Putrajaya Holdings from 1995 to 2000.

Having been appointed by the Royal Commission of Inquiry (RCI) on TH, Abdul Rashid was one of the six members investigating the management and operations of TH from 2014 to 2020. The RCI report has been presented to the King and the government.

The national pilgrim fund also acknowledges Azman’s leadership and his efforts in strengthening the group’s financial position, with deposits reaching RM88.9 billion by Nov 30, 2023, marking a nearly 7% increase from RM83.3 billion on Jan 1, 2022.