Kuala lumpur: There is no need for another Royal Commission of Inquiry (RCI) into the management and operations of Lembaga Tabung Haji (TH), as the ongoing probe by the authorities is sufficient, stated Pertubuhan IKRAM Malaysia (IKRAM) president Badlishah Sham Baharin.

According to BERNAMA News Agency, Badlishah Sham emphasized that the frequent establishment of RCIs could undermine their value and credibility, as they should be reserved for major cases. He remarked, "Establishing RCIs for all circumstances could undermine their value, as they are intended for really major cases. An investigation by the relevant authorities, such as the Malaysian Anti-Corruption Commission (MACC), is sufficient. The important thing is that any irregularities or breaches of the law must be brought to justice."

Badlishah Sham made these comments after appearing on Bernama TV's 'The Nation' programme, which discussed 'Restoring Trust and Strengthening Islamic Finance', at Wisma Bernama. His remarks were in response to media reports on calls by Barisan Nasional (BN) and Pakatan Harapan (PH) elected representatives for the government to establish a new RCI to investigate TH's management and operations.

The call for a new RCI was made concerning the 2021-2025 period, as the existing investigation only covered 2014 to 2020. Finance Minister II Datuk Seri Amir Hamzah Azizan, during the Special Meeting of the Dewan Rakyat on the TH RCI report, stated that the board had incurred losses of almost RM13 billion through 14 problematic investments, seven of which suffered 100 percent losses.

Amir Hamzah explained that the losses comprised RM10.2 billion borne by the government through a bailout carried out via Urusharta Jamaah Sdn Bhd (UJSB) in 2018 and RM2.6 billion in impairment losses borne by TH between 2018 and 2025 for investments still being managed. Notably, the Al-Rawda investment represented the largest loss among TH's problematic investments, involving lease agreements for four hotels in Makkah and Madinah.

Badlishah Sham further supported the proposal to establish a multi-agency task force to investigate investments at risk of losses and prevent similar mistakes. He emphasized the necessity of proper due diligence before making investments to ensure they are ethical and comply with the correct procedures.

Commenting on the walkout by some opposition MPs during the Dewan Rakyat special sitting, Badlishah Sham criticized the action as irresponsible. He stated that MPs have a duty to provide checks and balances and voice the rights of nearly 10 million TH depositors. He remarked, "MPs are elected by the people to represent them in Parliament. Just because you disagree with someone or the government, you cannot simply walk out. That is irresponsible."

The RCI report on TH, made public on July 29, documented various weaknesses in TH's management and operations between 2014 and 2020 and made 25 recommendations for improvement, 75 percent of which had been implemented by TH as of July 30.