KUALA LUMPUR: Tan Sri Abdul Rashid Hussain has been named as the new chairman of Lembaga Tabung Haji (TH), taking over from Tan Sri Azman Mokhtar, who has served the position for two years as Dec 20, 2021.
Abdul Rashid's appointment is effective Dec 20, 2023.
"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," said TH group managing director and chief executive officer Syed Hamadah Syed Othman in a statement.
"We are confident that our collective effort to strengthen TH will continue with his experience and leadership," he added.
Abdul Rashid, who is known as the co-founder of Rashid Hussain Securities and the RHB Group, was also one of six members of the Tabung Haji Royal Commission of Inquiry (TH RCI), set up in 2022 to review the fund's operations in the 2014–2020 period.
He established Rashid Hussain Securities in 1983, which later became RHB Group.
Abdul Rashid also served on the board of Khazanah Nasional Bhd from 1994 to 1998 and was chairman of its executive committee during that period.
In 1995–2000, Abdul Rashid served as chairman of Putrajaya Holdings Bhd.
Syed Hamadah also expressed his gratitude to Azman, who had contributed towards strengthening the fund's financial position, where total deposits grew almost 7.0 per cent from Jan 1, 2022, to Nov 30, 2023.
TH is a fund that was formed to help generate savings and subsidise haj costs for pilgrims.
The pilgrim fund recorded a gross income of RM3.85 billion in 2022, compared with RM3.72 billion a year ago.