KUALA LUMPUR – May 30, 2018: Lembaga Tabung Haji will no longer pay its annual hibah (after-tithe bonus) to inactive depositors starting this June 9.
In a statement today, TH, the national pilgrim savings fund, explains that the move, which was meant to protect depositors from dubious transactions, only affects accounts that have been dormant for more than seven years.
This was decided after the agency identified over 500,000 inactive depositors whose savings totalled RM62.8 million. These accounts have been classified as “inactive”.
Depositors can reactivate their accounts by performing at least one – be it over-the-counter or online – deposit or withdrawal transaction at any TH branch or its strategic partners such as Bank Islam, Maybank and Bank Rakyat before June 8.
In February last year, TH credited a hibah payout of 6.25 per cent, with 1.75 per cent of it meant for those who had yet to perform their pilgrimage.
TH also wants depositors to update their profile including address, contact numbers and names of their heirs so as to ease its pilgrim-related and inheritance-distribution services.
“If TH cannot get in touch with depositors who are slated to go for haj then he or she will miss the opportunity and would have to wait to be re-selected in the following year,” reads the statement.