KUALA LUMPUR, March 31 — The ringgit outflows increased by 146 per cent to RM32.1 billion from 2011 to December 31, 2014, Deputy Finance Minister Datuk Chua Tee Yong said.

He said based on the Bank Negara Malaysia’s records, the amount of money sent abroad until December 31, 2010 amounted to RM13.4 billion.

“But after the Money Services Business Act 2011 enforcement, it enables the government and Bank Negara to monitor the amount of money sent abroad that has increased by 146 per cent,” he told the Dewan Rakyat here today.

He was replying to a supplementary question from Datuk Kamarul Baharin Abbas (PKR-Telok Kemang) on the Global Financial Integrity report alleging that billions of ringgit had illegally flowed out of the country.

Chua said the GFI report was questionable as it is not an internationally recognised organisation as the World Bank and the International Monetary Fund had never categorised financial flows abroad as illicit money.

To the original question from Kamarul Baharin on outflow of money by foreigners, Chua said 43 financial institutions, three financial development institutions and 31 licensed financial services licensee provided remittance services through more than 2,000 branches in the country.

Meanwhile, Deputy Natural Resources and Environment Minister Datuk Seri Dr James Dawos Mamit said the proposed flood mitigation project involving the deepening of Sungai Guntung and Sungai Setiu as well as diverting Sungai Calok and Sungai Setiu, amounted to RM10 million, would be included in the 11th Malaysia Plan (11MP).

The restoration of the Sungai Setiu Valley costing RM33 million will also be included in the 11MP, he added. — Bernama