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| Source: TH. The announcement ceremony was officiated by YB Major General Dato' Seri Jamil Khir bin Haji Baharom (B), Minister in the Prime Minister's Office, YB Senator Dato 'Dr. Ashraf Wajdi Bin Dato' Dusuki, Deputy Minister in the Prime Minister's Office, the Honourable Datuk Seri Panglima Abdul Azeez Abdul Rahim, Chairman of TH, the Honourable Datuk Seri Johan Abdullah, Group MD and CEO of TH, members of the Board and the investment panel of TH. |
Lembaga Tabung Haji (TH, the Pilgrims Fund Board) has announced that a 4.25% annual grant for deposits, and an additional 1.5% to depositors who have not performed the Hajj in 2016.
TH was established as an economics-based Islamic financial institution to help provide investment services and opportunities to grow funds for the Hajj while managing pilgrimage activities for the Malaysian Muslim community.
There are a number of similar arrangements to help Muslims save for the Hajj. Indonesian bank Mandiri Syariah has a BSM Mabrur Saving rupiah-denominated savings account whose funds can only be withfrawn to pay for a Hajj or umrah. Based on the mudarabah mutlaqah (editor's note: مطلق mutlaq means 'unrestricted') scheme, the minimum deposit is Rp100,000 while the next deposit should also be Rp100,000.
According to the bank's website, the minimum balance for registration in the directly-connected SISKOHAT haj pilgrimage management system registration is Rp25,500,000.