TH Hibah is a “gift” declared by TH based on the Wadiah Yad Dhamanah concept based on TH’s financial standing for the current year.
Hibah is not compulsory to be paid by TH. Even though the practice of giving hibah is allowed, it is not supposed to be a standard practice in order to avoid this practice from being considered as “urf” (habit) similar to the condition in the deposit contract based on wadi’ah. Making returns in the form of hibah on wadi’ah savings a condition may result the akad (declaration) as riba (debt usury) which is unlawful in Islam and thus makes the return unclean.
The TH Hibah payment and its implementation are governed by the Tabung Haji Act 1995, section 22 (1) & (2):
(1) Subject to this section, the Lembaga may its absolute discretion determine at any time whether it is prudent to declare a sum as distributable profit in respect of any particular period or year of the Fund and if it determines to so declare, the Lembaga shall, with the approval of the Minister, declare a sum as distributable profit in respect of any particular period or year of the Fund.
(2) If a declaration is made under subsection (1), the Lembaga shall also determine the manner, amount and time for crediting such distributable profit to each depositor.
TH Hibah 2017
TH Hibah Calculation
|Annual Hibah (4.50%)||
TH Depositors’ Active Account
Minimum average monthly balance x 4.50%
(January-December 2017/12 Month) 4.50%
TH Depositors’ Account (Have Not Performed Hajj Yet)
Minimum average monthly balance (Subject to maximum total RM9,980.00) x 1.75%
(January-December 2017/12 Month) X 1.75%
Note : Hajj Hibah – A special hibah to TH depositors who have yet to go for hajj and is limited to current hajj payment(RM9,980). Meanwhile, the savings account from EPF is NOT eligible for the Hajj Hibah. The Hajj Hibah is only given to TH savings accounts.
Download FAQ Annual Hibah here.