Rashid, the RHB Group founder, was first appointed TH chairman for a two-year term starting Dec 20, 2023, which has now been extended until Dec 19, 2027.

In a statement, TH said Rashid’s reappointment reflects the government’s continued confidence in his leadership, under which the institution has implemented significant strategic and governance reforms.

Since assuming the helm of TH on Dec 20, 2023, Rashid has spearheaded several key initiatives, including strengthening its financial position and increasing returns to depositors.

“This is evident in TH’s success in recording strong profits and ensuring competitive and sustainable dividend distributions,” the statement said.

TH recorded a profit of RM2.92 billion in the 2024 financial year and increased its assets under management to about RM95.06 billion.

TH also received international recognition when it was recently conferred the Labaytum Diamond Award by Saudi Arabia’s hajj and umrah ministry, the highest recognition for haj management agencies.

Rashid expressed his appreciation to religious affairs minister Na’im Mokhtar for the trust placed in him to continue TH’s transformation.

“I am grateful and deeply honoured for the opportunity to continue serving alongside TH’s highly committed staff to strengthen the institution’s financial position while growing depositors’ funds and facilitating pilgrims in performing the haj pilgrimage.

“Our goal is to reinforce TH’s position as a respected Islamic savings institution. This is also in line with Prime Minister Anwar Ibrahim’s aspiration for TH to continuously enhance its governance and management for the benefit of depositors,” he said.