KUALA LUMPUR, March 24 — Measures need to be taken to strengthen oversight to deal with fraud and corruption in the country, the Malaysia Economic Association (MEA) said today.

Its president Tan Sri Mohd Sheriff Mohd Kassim said that recent events require a reform to key governing institutions in the country.

“Recent events highlight the need for us to strengthen oversight to deal with issues like fraud and corruption,” Mohd Sheriff said during a special address by Bank Negara Malaysia (BNM) for MEA members in Kuala Lumpur today.

“We are committed in pushing for such reforms,” he added.

He named BNM, the Malaysian Anti-Corruption Commission (MACC) , Attorney General’s Chambers and the judiciary as among the key institutions that must be kept independent.

“We need a governance where all the institutions can monitor governance practices without any political interference,” he added.

He also said that it was “essential” that BNM is able to take administrative action for any fiscal violations.