Rafizi Ramli has claimed vindication following the release of a royal commission of inquiry’s report on Tabung Haji, which he said has cleared his name of slander propagated by his political opponents.
Recounting how he had raised concerns on TH’s management over a decade ago, the Parti Bersama Malaysia co-leader asserted that the issue of the RCI report was recently raised again as a result of his speeches during the Johor election.
Rafizi also recalled how from as early as March 2016, he had highlighted in Parliament issues affecting TH, before going on to detail “34 other disclosures regarding misconduct, lost investments, and Tabung Haji’s involvement in the 1MDB scandal.”
“The TH case is personal to me because I was the first politician to expose TH’s negative reserve position starting from the 2015 financial year,” the former PKR deputy president said in a statement today.
“I was arrested, charged, and nearly imprisoned. For a decade I was the subject of slander, allegedly for inciting Muslims to destroy TH. The results of my disclosures also became political capital for PKR and Pakatan Harapan for a decade.
“In any case, I am grateful this report has been disclosed to allow the public to read and evaluate it themselves, as well as to clear my name from the slander of my political opponents regarding TH,” he added.
In February 2017, Rafizi, who was then the PKR vice-president, was acquitted by the Kuala Lumpur Magistrate’s Court on criminal defamation charges linked to TH, following the Attorney-General’s Chambers’ acceptance of his representation letter.
The former Pandan MP had initially claimed trial for defaming the pilgrimage fund through an article titled “Analisa Kewangan Tabung Haji 2009-2015” (Tabung Haji Financial Analysis 2009-2015), which was uploaded onto his Facebook account on Feb 9, 2016.
New law needed for accountability
In his statement today, Rafizi assured that he will be presenting further analysis of the RCI report in the coming weeks, with the disclosures aimed at showing the public that TH remains susceptible to certain threats.
“I hope that the public can learn the true position of TH, which is in fact still exposed to sustainability risks, even though (Prime Minister) Anwar Ibrahim boasts that the RCI report is only being disclosed now, after being shelved for three years, because his administration has successfully restored TH,” he said.
Rafizi added that while he agrees with “almost all” of the recommendations put forth by the RCI, stricter action must be taken against those responsible for decisions that are later found to be problematic.
“Malaysia needs to legislate into law a form of offence for decision-makers - whether ministers, senior government officials, board members, and senior management - when there is misconduct under their supervision, even if they claim to have gained no profit from that misconduct,” he said.
The RCI report was released on July 29, nearly four years after it was completed in 2022.
Anwar has since announced that the report will be debated during a special Dewan Rakyat sitting on Aug 11.
‘Creative’ accounting
Among others, the RCI found that TH should have recorded a RM1.4 billion loss in 2017, not the RM3.4 billion profit it reported.
It also found that hibah (dividend) distributions had been sustained through improper accounting practices, with the council recommending forensic audits into 14 problematic investments while proposing barring active politicians from joining TH boards and its subsidiaries.
Despite documenting serious failures, the RCI also acknowledged efforts by the government and TH’s new management after 2018 to stabilise the institution, strengthen governance, and rebuild depositor confidence.
The report noted that TH’s management increased public engagement through media briefings and stakeholder meetings, while deposits rose to about RM76 billion by the end of 2020 and later reached RM88 billion.
The government also approved the Tabung Haji Recovery and Restructuring Plan in December 2018 to address the gap between its assets and liabilities.
Addressing a crowd on the campaign trail for the Negeri Sembilan election, Amanah deputy president Mujahid Yusof Rawa said the report has also exonerated him from allegations made against him during his tenure as the religious affairs minister.
In a video clip uploaded to his Facebook page yesterday, Mujahid highlighted the report’s recognition of recovery and restructuring measures undertaken by TH between 2018 and 2020.
He said that while some had accused him of mortgaging Muslim-owned assets to non-Muslims, the report has since shown that such claims are false and baseless. - Mkini
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