Former Tabung Haji chief and finance officer charged over RM3.3 billion hibah

The former chief executive officer and chief financial officer of Tabung Haji have been charged in connection with allegations that they misled the board regarding a RM3.3 billion hibah distribution to depositors in 2017.

The charges relate to the approval and execution of the substantial hibah payout, which represents a significant financial commitment by Malaysia's Islamic pilgrimage savings fund. The alleged misconduct centers on how information was presented to the board during the decision-making process.

Tabung Haji, which manages savings for Malaysian Muslims planning to perform the hajj pilgrimage, distributes excess returns to depositors through hibah payments. The 2017 distribution represented one of the larger payouts in the fund's history.

The case marks a significant development in scrutiny of governance at the state-linked institution. Both officials face legal proceedings as investigations into the matter continue. The charges underscore broader concerns about corporate accountability and transparency in the management of public funds in Malaysia.