Malaysia
Nazir Razak lauds BNM for pledge to uncover 'truth'
A screengrab from Nazirs Instagram account.

KUALA LUMPUR, July 13 — Datuk Seri Nazir Razak today praised Bank Negara Malaysia for vowing not to betray Malaysians’ trust in its role to investigate 1Malaysia Development Berhad (1MDB).

Again using the Instragram photo-sharing service to communicate his views, the CIMB Group chairman was seemingly effusive over the central bank’s response to allegations that its officials had leaked information on the investigation into the state-owned firm.

“’Bank Negara Malaysia remains steadfast... and will not betray the trust of the public. Great statement — timely, firm and unambiguous,” the brother to Prime Minister Datuk Seri Najib Razak wrote as caption to a photo of the BNM office.

The banker and avid social media commentator has in recent months been outspoken on the topic of corporate governance, regularly criticising 1MDB over what he considers shortcomings in the manner they conduct their affairs.

In its statement yesterday denying it was the source of leaked documents on 1MDB that served as the basis of damaging reports claiming Najib received US$700 million from the firm, BNM expressed its commitment to the taskforce investigating the allegations.

Last month, the Wall Street Journal (WSJ), citing documents from Malaysian investigators currently scrutinising 1MDB’s financials, claimed that a money trail showed that US$700 million (RM2.6 billion) was moved between government agencies, banks and companies before it ended up in Najib’s accounts.

The largest two transactions, it said, were for US$621 million and US$61 million allegedly made in March 2013, shortly before the tumultuous Election 2013 in May.

A further transfer of RM42 million, purportedly made into Najib’s account at the end of 2014 and the beginning of 2015, is believed to have come from SRC International Sdn Bhd, a former subsidiary of 1MDB that was in 2012 parked under the Finance Ministry that Najib heads, WSJ said.

The special task force has since said last week that two bank accounts held by Najib in AmBank were already closed long before an investigation was launched against the misappropriation.

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