"In order to provide a systematic and transparent platform to ensure all contributions and donations from the people are properly managed and organised, the Government has decided to establish a special trust fund called Tabung Harapan Malaysia (THM)," said a statement released today, 30 May.
The trust fund - called Tabung Harapan Malaysia (THM) - will be managed by the Ministry of Finance (MOF)
The statement outlined that donations and contributions are restricted to cash in the local currency (Ringgit Malaysia) only.
The funds are to be deposited to a Malayan Banking Berhad (Maybank) account under the Jabatan Akauntan Negara (Account No: 566010626452).
In the statement, Finance Minister Lim Guan Eng also thanked Malaysians for their "support, concerns, and willingness" to help address the country's current economic situation. Read the full statement here:
Do you think the THM is a viable option to alleviate national debt? Let us know your thoughts on the trust fund in the comments section.
Segambut MP Hannah Yeoh had previously advised the rakyat to pay off their taxes and summonses if they wish to help the country: