Bank Negara governor: 1MDB case closed, all necessary action taken

Muhammad said this in response to a question whether the central bank would initiate new investigation into 1MDB in view of the findings by the United States’ Department of Justice  — Picture by Saw Siow Feng
Muhammad said this in response to a question whether the central bank would initiate new investigation into 1MDB in view of the findings by the United States’ Department of Justice — Picture by Saw Siow Feng

KUALA LUMPUR, Aug 12 — Bank Negara Malaysia (BNM) has completed all investigations on 1Malaysia Development Bhd (1MDB) and has taken all the necessary action entrusted by it, said Governor Datuk Muhammad Ibrahim.

“We have completed all our investigations on 1MDB based on all the information and investigations papers.

“We have imposed a penalty on the company and taken all necessary actions entrusted to us under the law and we have closed the investigation,” he told reporters after announcing Malaysia’s second quarter economic growth performance here today.

Muhammad said this in response to a question whether the central bank would initiate new investigation into 1MDB in view of the findings by the United States’ Department of Justice (DoJ).

It was reported that DoJ has filed a civil suit against several individuals to seize over US$1 billion (RM4.01 billion) worth of assets, which it said were the result of US$3.5 billion misappropriated from 1MDB.

“When it comes to international corroborations, we are dictated by certain protocols and regulations and we will abide strictly by those protocol arrangements when it comes to cooperation with external investigating bodies,” he said.

In April, Bank Negara issued a compound to 1MDB for its failure to fully comply with directions it had issued under the Financial Services Act 2013. — Bernama

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