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Countries keen to emulate Msia’s Tabung Haji (Borneo Post)

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Borneo Post 01/07/2014

MAKKAH: The Philippines and Maldives are interested to emulate Malaysia’s Lembaga Tabung Haji (TH) model in their respective countries, says chief executive officer TaHa Alam Sdn Bhd (TaHa Alam), Nik Joharris Nik Ahmad.
“Our Philippines counterpart is keen to know more of TH haj management, particularly in the handling of access luggage and flight chartering services for pilgrims.
“Whereas, our counterpart in the Republic of the Maldives is keen to learn more of overall TH’s model and we will probably start with the training segments.
“Our counterpart in Singapore is keen to use our access luggage service,” said Nik Joharris, adding that TaHa Alam is eying to lock the deals involving the three countries for the haj session this year.
The company shared TH’s experience at a forum titled, ‘Mobilising Savings and Effective Haj Management – Malaysia’s Experience’ in conjunction with the 39th IDB Annual Meeting last week in Jeddah.
The forum showcased the challenges and success of Tabung Haji’s model and its potential replication to other countries, as well as its benefits and spillover effects to the economy.
“In some countries, unfortunately, Muslims have to either forgo their personal belonging and or borrow huge sums of money to finance their pilgrimage.
“This can be partially attributed to the lack or non-existence of Syariah-compliant savings instruments for them to save systematically for their once-a-lifetime Haj pilgrimage,” Nik Joharris told the forum.
He said TaHa Alam offered advisory and consultancy services to interested countries towards mobilising Haj savings scheme and managing haj management companies.
“With the global leadership positions of our shareholders (TH) and by leveraging on latest technology together with continuous operational improvement, we can assist many countries in mobilising haj savings schemes and managing haj management companies,” he said.
TaHa Alam is a joint venture company owned by ICD, the private sector arm of the IDB Group and Theta Edge Bhd, a subsidiary of TH.
TH is the premiere Islamic financial institution in Malaysia backed by more than RM41 billion in funds and with 50 years experience in deposits, Hajj services and operations, and investments.
ICD holds a 50 per cent stake in TaHa Alam while TH through Theta Edge holds the remaining 50 per cent, said Nik Joharris.
He added TH’s consistent track record has gained world recognition and has served a role model of innovative haj management and Islamic financial services for most Islamic countries in the world.
The joint venture agreement between Taha Alam Sdn Bhd and ICD was inked during the ‘In Malaysia-IDB Group Investment Forum’ held in Kuala Lumpur in 2012, for cooperation and promotion of products and services related to Haj and Umrah, globally. — Bernama

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