PAS deputy president Tuan Ibrahim Tuan Man has urged relevant parties to explain several questions on Lembaga Tabung Haji's purported delay in declaring its dividends to its nine million depositors.

Tuan Ibrahim specifically referred to the allegations that Bank Negara Malaysia had sent a letter to Minister in the Prime Minister's Department, Jamil Khir Baharom, informing him that Tabung Haji’s reserves have become negative.

"Is it true that the Bank Negara has sent a letter to Jamil Khir regarding the financial position of Tabung Haji in 2015, that its reserves have become negative?

"And that this means Tabung Haji’s assets at the current market value price are not sufficient to meet all its obligations, including the deposits?" Tuan Ibrahim ( photo ) questioned in a statement today.

He also asked if the letter from the central bank also said that Tabung Haji cannot declare its dividends to depositors if the assets are insufficient to meet its obligations under Section 22 of the Tabung Haji Act.

The letter also supposedly states that this situation is worrying as it exposes Tabung Haji to a risk of mass-scale deposit withdrawals if the expected dividends for the depositors are not met or viewed as inadequate by the depositors, Tuan Ibrahim said.

Bank Negara is also said to have sent a separate letter to Tabung Haji chairperson Abdul Azeez Abdul Rahim, he added, in which the bank governor, Zeti Akhtar Aziz, suggested that Tabung Haji formulates a comprehensive reserves policy immediately, before March 31.

"If all the above is true, is this the cause of Tabung Haji's delay in declaring the dividends and bonuses?

"If the above is true, why is Tabung Haji is still investing in the Tun Razak Exchange land? Is this the decision of the prime minister or the chairperson of TH?" Tuan Ibrahim asked.

'Investment will burden TH more'

This investment would burden Tabung Haji even more, with regard to its current financial situation, if the letters supposedly sent to TH were true, he pointed out.

If the above information was true, Tuan Ibrahim said, PAS wants Abdul Azeez to be sacked immediately.

A new chairperson should be appointed to help Tabung Haji observe its obligations under the recommendations of the central bank, he added.

Yesterday, Amanah vice-president Mujahid Yusof Rawa raised concerns on Tabung Haji's delay in declaring its dividends to its nine million depositors, which was supposed to be done on Jan 22.

Mujahid said that although Tabung Haji has until March to declare its dividends and bonuses, its silence on the matter was deafening and put into question the institution's financial capacity.

Tabung Haji responded , saying that it conventionally makes it bonus announcement in the first quarter of the year, that is, by March, to ensure that all internal audits have been completed.

"Depositors are advised not to buy into speculation and raise anxieties," the pilgrimage fund said.

However, Bank Negara is reported to have earlier sent separate letters, to Abdul Azeez and Jamil Khir, on Tabung Haji's reserve levels being in the negative.

The fund came under the limelight when there were calls to Tabung Haji and Retirement Fund Incorporated (KWAP) to recover RM1.5 billion from 1MDB after the state-owned company purportedly violated the terms of its sukuk (Islamic financial) agreement.

Prime Minister Najib Abdul Razak then advised Tabung Haji to sell off its stake in the Tun Razak Exchange.

This came after public backlash on claims that Tabung Haji had paid an inflated price for the Tun Razak Exchange stake, since 1MDB had purchased the land from the government at just RM64 a square foot in 2011.