“The decision was not merely to make the report public, but also to allow it to be debated in the Dewan Rakyat and to enable the authorities to take the necessary action,” he told reporters after attending the ‘Karnival Komuniti: Kempen Internet Selamat’ (Safe Internet Campaign) at Felda Palong 2 here.

The Department of Islamic Development Malaysia (JAKIM) last night published the 211-page RCI report into TH's management and operations between 2014 and 2020.

Citing a briefing by TH chairman Tan Sri Abdul Rashid Hussain, who also served on the RCI, Fahmi said Abdul Rashid had requested that the report not be released immediately after his appointment in 2023 to allow time to rebuild depositors' confidence.

“He requested the Prime Minister (Datuk Seri Anwar Ibrahim) to defer the release of the report because we wanted to rebuild confidence among depositors by implementing the recommendations contained in it.

“Today, we know that 75 per cent of the RCI's recommendations have been implemented. However, several recommendations, including legal action and follow-up by the enforcement agencies, still need to be carried out,” he said.

Fahmi said the Prime Minister had also informed the Cabinet that the police, the Malaysian Anti-Corruption Commission (MACC), Bank Negara Malaysia and the authorities responsible for enforcing the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLA) would take follow-up action based on the report's findings.

Responding to claims that the report did not use the colloquial term ‘sakau’ (embezzlement), Fahmi said it was an official RCI report and therefore employed appropriate legal terminology, such as corruption, rather than everyday language.

He also referred to the report's findings on alleged ‘creative accounting’ practices at TH, involving reported losses of RM1.4 billion in 2017 that were allegedly adjusted to portray the institution as having recorded a profit of RM3.4 billion.

“The report does mention corruption, and police reports as well as reports to the MACC have also been lodged. It is now up to the relevant authorities to examine the findings and take action if any wrongdoing is established.

“The findings indicate that these practices did not begin in 2017 but date back to 2014. We will leave it to the authorities to investigate and take the necessary action,” he said.

-- BERNAMA