Fast, factual wire coverage from across Malaysia and the region.
The government is prioritising Tabung Haji depositor interests over short-term political gains by taking a measured approach to disclosing the Royal Commission of Inquiry report, according to Deputy Minister Aiman Athirah Sabu.
Malaysia's Tabung Haji faced a potential RM74.5 billion liability exposure had a major bank run occurred in 2018, according to ministerial disclosures. The fund experienced actual panic withdrawals of RM6 billion in 2019.
Malaysia's government guarantee to Tabung Haji depositors, valued at RM88 billion, will only be drawn upon should the pilgrimage board's 2018 recovery plan fall short, according to the Royal Commission of Inquiry report.
International credit agency AM Best has given MAAGAP Insurance Inc a B+ financial strength rating with stable outlook, praising the Philippine insurer's robust capital adequacy and effective risk management practices.
%22%2F%3E%3C%2Fpattern%3E%3C%2Fdefs%3E%3Crect%20width%3D%22100%25%22%20height%3D%22100%25%22%20fill%3D%22url(%23ph41kdyg)%22%2F%3E%3Crect%20width%3D%22100%25%22%20height%3D%22100%25%22%20fill%3D%22url(%23ph41kdyp)%22%2F%3E%3Ctext%20x%3D%2250%25%22%20y%3D%2250%25%22%20text-anchor%3D%22middle%22%20dominant-baseline%3D%22central%22%20fill%3D%22rgba(255%2C255%2C255%2C0.95)%22%20font-family%3D%22Georgia%2C%20'Times%20New%20Roman'%2C%20serif%22%20font-weight%3D%22700%22%20font-size%3D%22226%22%20letter-spacing%3D%22-0.02em%22%3EMADANI%3C%2Ftext%3E%3C%2Fsvg%3E)
The MADANI government is intensifying efforts with Bank Negara Malaysia and the banking sector to ensure financial stability while introducing measures to ease borrower pressures, including affordable credit cards and free ATM withdrawals.