KUALA LUMPUR, Aug 8 (Bernama) -- Lembaga Tabung Haji (TH) is committed to supporting the government's efforts in strengthening the economy through the government-linked investment companies (GLIC) initiative in line with the MADANI Economy.
Group managing director and chief executive officer Syed Hamadah Syed Othman said that as a Shariah-compliant savings management organisation for the purpose of haj, TH is responsible for leading and expanding the role of Islamic banking to properly channel assistance to the needy.
He said that TH is committed to enhancing the sustainability of the country's social impact via Islamic financial instruments.
“Since its establishment more than six decades ago, TH had channelled RM1.37 billion zakat to the states’s Islamic Religious Councils to be distributed to the asnaf group.
“The commitment to strengthening the distribution of assistance can also be seen through the successful implementation of ‘Sadaqa House’ managed by TH group’s associate company Bank Islam Malaysia Bhd,” he said in a statement today.
Syed Hamadah said that RM25 million in funds from the “Sadaqa House” initiative were distributed to improve the capabilities of 1,200 micro-entrepreneurs through the iTekad microfinancing programme.
He said the Sadaqa House funds were also used to enhance the well-being and education of nearly 10,000 beneficiaries, including 86 orphans who continue their studies to higher education levels and others from among the asnaf and B40 groups nationwide via various efforts and programmes.
“TH hopes that via the collaboration with other GLCs and GLICs in this initiative to empower the MADANI Economy, more government-linked companies will allocate corporate social responsibility funds to achieve similar aims,” he added.
Syed Hamadah was commenting on the Ministry of Finance's (MOF) statement this morning regarding the country's six main GLICs, including TH, which collectively pledged to invest in domestic direct investments amounting to RM120 billion over the next five years.
The MOF-led initiative under the implementation of the first phase of the “Gear-up” programme aims to catalyse the country’s main economic sectors.
-- BERNAMA
