Malaysia
Bank Negara says has handed details of land purchase to MACC
A man walks past a 1 Malaysia Development Berhad (1MDB) billboard in Kuala Lumpur, March 30, 2015. u00e2u20acu201d Picture by Yusof Mat Isa n

KUALA LUMPUR, May 24 — Malaysia’s central bank said today that it has handed details of a transaction to purchase land from the government to the anti-graft agency, after reports that funds from the deal may have been used to pay dues of troubled state fund 1MDB.

The government of former Malaysian Prime Minister Datuk Seri Najib Razak used funds from the deal to pay for some of the liabilities of beleaguered state fund 1Malaysia Development Berhad (1MDB), two sources with knowledge of the matter told Reuters.

"The transaction complied with all the governance requirements and relevant laws that govern the Bank,” Bank Negara Malaysia said in a statement, adding that information on the transaction had been passed to the Malaysian Anti-Corruption Commission (MACC). — Reuters

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