Kuala lumpur: The government should disclose the implementation status of each recommendation made by the Royal Commission of Inquiry (RCI) into Tabung Haji (TH) to ensure greater accountability, a political risk consultant said. KRA Group strategy director Amir Fareed Rahim emphasized the importance of identifying the agencies responsible and providing a realistic timeline for completing the remaining 25 percent of the recommendations.
According to BERNAMA News Agency, Amir highlighted that the outstanding recommendations are more complex than the 75 percent already implemented, involving structural and legal changes that cannot be achieved solely through internal management directives. He underscored the necessity of amending the Tabung Haji Act to enhance governance, accountability, and oversight, which would require legislative action in Parliament.
Amir Fareed commended the decision to hold a special parliamentary sitting, viewing it as a positive step. He suggested that the debate should focus on examining the implementation of all 25 recommendations and identifying those requiring legal changes. He further called for Parliament to establish continuous oversight, stressing that the special sitting should not mark the end of the process.
He also urged the government to provide periodic updates on outstanding reforms, while enforcement agencies should report within the limits permitted by ongoing investigations. Amir noted that the decision to release the RCI report demonstrated the government's confidence in TH's resilience and readiness to defend its reform record.
On July 29, the RCI released its 211-page report following an investigation into TH's management and operations between 2014 and 2020. Amir Fareed, speaking on Bernama TV's Ruang Bicara programme, praised the government's sequencing strategy of implementing improvements prior to disclosing the RCI report, as a means to maintain confidence in TH.
He stressed the significance of ensuring the stability of the Islamic financial institution and restoring public trust before revealing past shortcomings. Amir pointed out that large financial institutions are evaluated based on trust, and any erosion of confidence could lead to institutional collapse, ultimately affecting the people.
Amir Fareed also mentioned that the disclosure of discrepancies should coincide with TH's positive developments, such as the announcement of the best 2025 dividend rate in eight years and assurances regarding the safety of depositors' savings. He warned that announcing only the discrepancies without sharing positive news could lead to a quicker erosion of confidence.