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Tabung Haji faced severe financial strain as liabilities exceeded assets, prompting a comprehensive recovery initiative and a Royal Commission of Inquiry investigating institutional management between 2014 and 2020.
A Royal Commission of Inquiry has determined that Tabung Haji should have reported a RM1.4 billion net loss in 2017 under proper accounting standards, not the RM3.4 billion profit announced in its financial statements.
Malaysia's Cabinet has approved the declassification and public release of the Royal Commission of Inquiry report on Tabung Haji, following the Islamic pilgrims' fund board's financial recovery. The report will be debated in Parliament.
The Palestinian government confronts a deepening fiscal emergency as Israel withholds over US$5 billion in tax revenues, representing 68% of Finance Ministry income. The crisis threatens economic stability and public services across the West Bank.
Britain's millionaire population has contracted to its smallest number since the 2008 financial crisis, with 442,000 sterling millionaires representing a 7% annual decline. Rising interest rates and economic pessimism are pushing wealth creators to leave the country.