KUALA LUMPUR, May 10 — Following the latest uproar over another of 1 Malaysia Development Berhad’s (1MDB) deals, Transparency International Malaysia (TI-M) suggested today that the prime minister relinquish his post as Finance Minister.

The anti-corruption watchdog said the government should stop the practice of having a prime minister that holds a dual portfolio as this dilutes the principle of “check and balance” in the administration.

“By ensuring the Finance Minister is a different person from the prime minister, the rakyat is to some extent assured that a different pair of eyes and a different (and we hope an independent) mind can properly and objectively weigh the financial decision being made,” the group said in a statement here.

TI-M noted that not all decisions require prior approval from the Cabinet as the person holding the post of Finance Minister has a “wide array” of powers.

As such, the group said that for the government to stay transparent, no prime minister should hold the finance minister portfolio.

“There may have been some administrative efficiency argued in the past for such dual portfolio but this is totally outweighed by the need for the rakyat to see due process being followed and to protect the hard earned tax payers’ money,” it added.

Earlier this week, it was revealed that debt-laden state-owned 1MDB is embroiled in yet another controversy, this time over the sale of one of its land assets in the Tun Razak Exchange (TRX) to Lembaga Tabung Haji (LTH) at a fraction of the sum it paid when it bought it four years ago.

According to reports, LTH paid RM188.5 million at RM2,773 psf for the 1.56-acre land parcel, which is 43 times what 1MDB paid when it purchased the plot for just RM4.5 million at a rate of RM64 psf.

The exposé sparked outrage among lawmakers from both sides of the political divide, including even Umno leaders like Tan Sri Muhyiddin Yassin, Datuk Seri Hishammuddin Hussein and Khairy Jamaluddin, and fueled concerns that funds meant for Muslim pilgrims were being used to help bail out 1MDB, which is now saddled with a RM42 billion debt.