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Over 35,000 Took Out Money From Yapeim

in Latest/Slider

KUALA LUMPUR: Over 35,000 people withdrew funds from the Malaysian Islamic Economic Development Foundation (Yapeim) in the last two years due to various factors, including the negative perception which came about from allegations, said Prime Minister Datuk Seri Najib Tun Razak.

In a reply in Parliament, Najib said the move left the foundation short of RM580,897 in funds.

“Those who were committed to the foundation under the salary deduction scheme had withdrawn their funds due to many reasons. Some include death, loss of jobs, moving jobs and increase in cost of living,” he said.

Najib said that in 2015 alone, 24,028 people had withdrawn their money and cancelled their accounts while 8,906 people did so in the first two months of 2016.

“However, there was also a fair number of additional investors who recently started contributing to the funds.

“So although we saw a loss of RM420,227 in 2015 and RM160,670 in the first two months of 2016, we also saw an income of RM106,870 from existing and new investors,” he said.

Earlier Sepang MP Hanipa Maidin had questioned the Prime Minister on how many people had withdrawn or cancelled their account and how much did it set back the foundation in terms of funds.-The Star Online


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