TH has declared a profit distribution of 3.10% after zakat for the financial year 2023, benefiting over 9.15 million depositors with a total sum of RM2.72bil, as announced by Minister in the Prime Minister’s Department (Religious Affairs) Datuk Mohd Na’im Mokhtar.
During a press conference in Kuala Lumpur, Datuk Mohd Na’im Mokhtar highlighted that TH has distributed a total of RM42.88bil in profits since its establishment 60 years ago. Also in attendance were TH chairman Tan Sri Abdul Rashid Hussain, TH CEO Syed Hamadah Syed Othman, and TH group executive director of finance Mustakim Mohamad.
The profit announcement for 2023 was made based on audited financial statements, taking into consideration the impairment in the value of investment properties in countries like Saudi Arabia and the United Kingdom.
TH continues to strive for financial transparency and accountability in its operations to ensure that depositors benefit from the profits generated. This signifies a significant milestone in TH’s history of managing funds for the benefit of its depositors.
The profit distribution serves as a means of providing returns to depositors in accordance with Islamic principles, including the payment of zakat to fulfill religious obligations. It reflects TH’s commitment to upholding Islamic financial principles while delivering sustainable returns to investors.
Minister Datuk Mohd Na’im Mokhtar emphasized the importance of maintaining trust and confidence among depositors by adhering to responsible financial practices and ensuring that profits are distributed fairly and equitably. This distribution of profits marks another successful year for TH and its commitment to providing value to depositors.
The announcement of the profit distribution for 2023 underscores TH’s ongoing efforts to manage funds efficiently and generate returns for depositors. By maintaining a rigorous financial oversight process, TH aims to remain a trusted institution for depositors seeking secure and reliable investment opportunities.
TH’s prudent financial management practices and commitment to fulfilling its religious obligations through zakat payments further solidify its position as a leading Islamic financial institution in Malaysia. The profit distribution is a testament to TH’s dedication to serving the needs of its depositors while upholding Islamic values in its operations.
Overall, the profit distribution of 3.10% after zakat for the financial year 2023 represents a significant milestone for TH in fulfilling its mission of providing sustainable and ethical financial solutions for its depositors. The continued success of TH in generating profits and distributing returns reaffirms its role as a trusted financial institution in Malaysia.
