Kuala lumpur: The decision on whether the Securities Commission Malaysia (SC) will be given the role of regulating the fund management and investments of Lembaga Tabung Haji (TH) lies with the government, said SC chairman Datuk Mohammad Faiz Azmi. He emphasized that the matter is currently under review by a task force that involves the SC, Bank Negara Malaysia (BNM), and TH.

According to BERNAMA News Agency, the proposal for the SC to oversee TH's investments is part of the recommendations in the report by the Royal Commission of Inquiry (RCI) on TH. The task force is tasked with discussing the RCI's proposals, and the SC is prepared to implement any recommendations deemed reasonable by the government.

"If the government deems it appropriate, we will implement it. For the time being, there is a task force comprising the SC, BNM and TH to discuss the RCI's proposals, and we will implement any that are deemed reasonable," Datuk Mohammad Faiz Azmi stated. He further clarified that the decision ultimately rests with the government and that the SC will comply with its directives.

He also noted the importance of considering the size of TH's investment portfolio when evaluating the SC's potential role in regulating its investments. Previously, Dr. Zulkifli Hasan, the Minister in the Prime Minister's Department (Religious Affairs), mentioned that the SC had been suggested to oversee the management of TH's funds as part of efforts to enhance the institution's oversight framework, following the RCI's recommendations.