Tabung Haji or Lembaga Tabung Haji is the Malaysian hajj pilgrims fund board. It was formerly known as Lembaga Urusan dan Tabung Haji (LUTH). The main headquarters is located at Jalan Tun Razak, Kuala Lumpur. Tabung Haji facilitates savings for the pilgrimage to Makkah through investment in Shariah-compliant vehicles.
Shariah-compliant funds are investment vehicles which are fully compliant with the principles of Islam. The funds are prohibited from making investments in industries categorized as morally deficient, such as those related to gambling or alcohol. Because Islam does not permit any form of exploitation, any kind of investment in conventional banking is outlawed. With the concept of debt also contrary to the principles of Islam, investment in highly leveraged companies is also not permitted for shariah-compliant funds.Think of it as a trust fund or money your folks would have saved up for you to go to college except in this case the government helps out & provides an account as soon as your born & proved eligable. Now, ain't that something?! If that doesn't promote goodness, I dont know what does. I think every Muslim country should adopt this purely for the sake of ihsan if they haven't already.