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TH declares 3.10pct profit distribution for 2020

KUALA LUMPUR: Lembaga Tabung Haji (TH) has declared a 3.10 per cent profit distribution with a total of RM2.24 billion payout for the year ended December 31, 2020 (FY20) to its nine million depositors.

The hajj pilgrims fund board said this was higher than the 3.05 per cent declared for FY19, involving a total payout of RM2.14 billion paid for the year.

Minister in the Prime Minister's Department (Religious Affairs) Datuk Seri Dr Zulkifli Mohamad Al-Bakri said TH's financial performance remained positive in 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," he said in a statement today.

TH is 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.

As at February 26 this year, TH's total deposits reached RM76.7 billion, its highest ever level, reflecting the confidence of depositors.

TH has also made a zakat payment amounted 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 would benefit the asnaf community throughout the country, said TH.

All TH transactions will be temporarily unavailable starting from 8pm on March 2 (Tuesday) until the next day, March 3 at 12:00 noon to facilitate the profit distribution process. 

Depositors may check their account balance after 12pm on Wednesday, March 3, 2021 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.

As for the hajj, TH said the government of Saudi Arabia had yet to issue any official statement on this year's pilgrimage although it had received about 100,000 umrah pilgrims since November 1 last year.

Although the hajj was postponed last year due to Covid-19, Zulkifli said Malaysians could continue to pray for this pandemic to end soon so that they 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," added Zulkifli.

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

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