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Bank Negara Malaysia has reaffirmed that guidance provided to Tabung Haji forms part of its statutory obligation to safeguard financial stability under the Central Bank of Malaysia Act 2009.
Malaysia's Religious Affairs Minister argues that Tabung Haji's financial collapse was avoidable had the institution acted on Bank Negara Malaysia's warnings between 2014 and 2016, potentially sparing the government a massive bailout.
Bank Negara Malaysia issued five formal warnings to Tabung Haji regarding its deteriorating financial position between assets and liabilities, which were reportedly disregarded by the institution's leadership, triggering a broader governance crisis.
Bank Negara Malaysia will enforce a more rigorous Performance Measurement Framework for development financial institutions from July 2027, evaluating their success through development impact, mandates, and operational efficiency metrics.
The ringgit is expected to rebound from June's weak performance, with Bank Negara Malaysia's capital flow measures and Malaysia's robust economic fundamentals supporting a recovery to 3.80-3.95 per dollar by year-end.