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.
2018 TH Hibah
TH Hibah Calculation
|Annual Hibah (1.25%)||
TH Depositors’ Active Account
Calculated based on average monthly minimum balance year 2018
(Minimum balance Jan+Feb+...+Dec) /12 X 1.25%
Download FAQ 2018 TH Hibah
Depositors can check their latest account balance after TH 2018 annual hibah distribution starting from Monday, 8 April 2019.