KUALA LUMPUR: Lembaga Tabung Haji’s (TH) business restructuring plan will involve placing a cap on each depositor’s fund as one of the measures to reduce government’s liability and exposure towards the depositors.
Group managing director and chief executive officer Datuk Seri Zukri Samat said the move to limit the individual deposits at a suitable level was now awaiting board approval.
He said depositors’ fund was guaranteed by the government whereby the government had to pay in full should anything happen to the fund, unlike banking institutions that only had to pay a maximum of RM250,000 through the Malaysian Deposit Insurance Corporation (PIDM) to the depositors.
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