Method of calculating hibah same as previous yearsFebruary 9, 2018 @ 7:48PM
KUALA LUMPUR: Tabung Haji's method of calculating the dividend (hibah) for 2017 is the same as in previous years, which is based on the average monthly balance.
In a statement, the pilgrims fund said depositors can check the 2017 dividends credited to their accounts beginning Monday, Feb 12 2018 at TH counters, Bank Islam and Bank Rakyat.
Depositors can also check their accounts at ATMs and online portals of TH strategic bank partners -- Bank Islam, Bank Rakyat, Maybank Islamic -- and TH's internet portal (THiJARI) and mobile app.
For 2017, TH had declared a total dividend of 6.25 per cent.
This comprised an annual dividend of 4.50 per cent and Haj dividend of 1.75 per cent.
The dividend is calculated by multiplying the average monthly balance with 4.50 per cent (TH dividend) or 1.7 per cent (for Haj dividend).
TH's statement comes after blogger A. Kadir Jasin questioned whether a different method of calculating the dividend was used this year.
Kadir said if the dividend was calculated by multiplying the dividend rate with minimum annual balance, then depositors would get a lower return.