TH Declares 3.25% Profit Distribution for FY2024
Historic High: 3.25% Profit Distribution for 2024
Lembaga Tabung Haji (TH) has announced a profit distribution of 3.25% after zakat for the 2024 financial year, the highest rate in seven years since 2018.
Benefitting Over 9.54 Million Depositors
The total profit distribution amounts to RM2.92 billion, benefiting more than 9.54 million TH depositors.
Zakat Payments: RM99.35 Million
This rate was achieved after accounting for zakat payments of 2.5775% (RM99.35 million),
Driving Factors: Improved Investment Performance and Economic Growth
The high profit distribution was driven by improved investment performance, the impact of economic growth, and a positive stock market in 2024, as well as ongoing efforts to control operating costs.
Total Profit Distribution: RM45.79 Billion Over 61 Years
Alhamdulillah, to date, TH’s total profit distribution over its 61-year history amounts to RM45.79 billion.
Checking Profit Distribution
Depositors can check their 2024 profit distribution, credited into their accounts from this Sunday, via the THiJARI platform, Tabung Haji counters, Bank Islam and Bank Rakyat counters, as well as electronic banking channels of TH’s strategic partner banks — Bank Islam, Bank Rakyat, Maybank Islamic, CIMB Islamic, and AmBank Islamic.
Zakat Payment: Supporting Poverty Eradication Efforts
The zakat payment of RM99.35 million to all State Islamic Religious Councils (MAIN) on behalf of depositors for 2024, allocated based on the ratio of deposit balances in each state, directly or indirectly, supports the government’s efforts to eradicate hardcore poverty.
Assisting Pilgrims and Zakat Recipients
TH has assisted over 1.5 million Muslims in the country to perform the pilgrimage, while also covering Haj Financial Assistance amounting to RM2.8 billion since its introduction in 2001.
Regarding the Zakat Wakalah Programme, TH had assisted over 670,000 asnaf (eligible zakat recipients) nationwide last year, with more than 2.2 million asnaf benefiting from the initiative over the past decade.
Compliance with Tabung Haji Act 1995
The profit distribution declaration complies with the Tabung Haji Act 1995 and was made after TH’s 2024 financial statements were audited by the National Audit Department.
Historical Comparison of Profit Distribution Rates
TH’s profit distribution rate stood at 3.10 per cent from 2020 to 2023, while the rates for 2019 and 2018 were 3.05 per cent and 1.25 per cent, respectively.
Conclusion
The announcement of a 3.25% profit distribution for 2024 is a testament to TH’s continued commitment to providing a high return on investment to its depositors, while also supporting the country’s economic growth and poverty eradication efforts.
FAQs
Q: When can depositors check their 2024 profit distribution?
A: From this Sunday, via the THiJARI platform, Tabung Haji counters, Bank Islam and Bank Rakyat counters, as well as electronic banking channels of TH’s strategic partner banks.
Q: How much is the zakat payment for 2024?
A: RM99.35 million
Q: How many depositors will benefit from the profit distribution?
A: More than 9.54 million depositors
Q: How much is the total profit distribution over TH’s 61-year history?
A: RM45.79 billion