Incitement leads to depositors withdrawing RM500 mln from TH last year

A total of RM500 million in savings had been withdrawn by Tabung Haji (TH) depositors throughout last year as they were influenced by various allegations hurled by the opposition against the agency.

Minister in the Prime Minister's Department Datuk Seri Jamil Khir Baharom said the irresponsible acts by the opposition resulted in the withdrawals by about 3,600 depositors from performing the haj pilgrimage and cancelling their turn.

"Their (the opposition's) action had caused the depositors to withdraw their savings as they were duped by the allegations hurled by the opposition and some of them had written in the column in the forms saying 'I have lost confidence in Tabung Haji'," he said.

"Imagine if the TH funds had been invested in assets such as houses, factories and land...where do we find the cash to return the depositors' funds, fortunately we have the cash that can meet the withdrawals," he said.

He disclosed this at a briefing session in conjunction with the Perak Menteri Besar's Retreat in the District of Bagan Datuk in Sungai Nipah Darat, here today.

Earlier, the Member of Parliament for Pandan, Rafizi Ramli made various allegations on the financial position of TH by inciting the people to withdraw savings which could cause serious damage to TH. - BERNAMA