Sign up | Log in



Home  >>   Daily News  >>ฺMalaysia>>Finance>>Malaysia central bank investigation on 1MDB is over: Governor
NEWS UPDATES Asean Affairs     August 15,  2016  

Malaysia central bank investigation on 1MDB is over: Governor

KUALA LUMPUR: Malaysia central bank governor Muhammad Ibrahim on Friday (Aug 12) insisted that Bank Negara's investigation on irregularities of scandal-plagued state investment fund 1Malaysia Development Berhad (1MBD) is over and has no reason to reopen the probe despite the civil suits filed by the US justice department.

Last month the DOJ sought to seize over US$1 billion worth of assets said to be bought with money misappropriated from 1MDB.

US investigators including the FBI believed that at least US$3.5 billion were stolen from the people of Malaysia through a series of opaque transactions through fraudulent shell companies between 2009 and 2014.

"We have completed all our investigations on 1MDB,” said Muhammad. “We have imposed a penalty and have taken all necessary action entrusted under the law. We have closed the investigation"

Muhammad also dismissed the police report lodged against former central bank governor Zeti Aktar Aziz earlier this month by the deputy youth chief of the ruling party UMNO for plotting to unseat Prime Minister Najib Razak by handing over classified documents to the FBI and possibly forging them.

Others accused along with Dr Zeti were former anti-corruption commission chief Abu Kassim and ex-attorney general Abdul Gani Patail.

"Anyone can make a police report, it's a free country, this is not the first time people make a report against Bank Negara," said Muhammad. “When it comes to international corroboration we have and will always abide strictly by protocol and regulations."

He said Bank Negara has since implemented measures to beef up corporate governance in banking and financial service sectors, including mandating that majority of the board consist of independent members while limiting the tenure of non-independent members to nine years.


Opposition Member of Parliament Tony Pua, in a statement early on Saturday, slammed Muhammad’s comments, saying that “this single announcement has in one swift blow, destroyed all the credibility BNM (Bank Negara) has painstakingly accumulated over the past two decades.”

“The question for the Bank Negara Governor is very simple - has Dato’ Seri Najib Razak been investigated for the multi-billion ringgit money-laundering scam which has been highlighted by the US DOJ?” the statement read.

“As far as we are aware, based on public announcements by BNM, 1MDB has only been investigated for improper disclosure to the central bank for its fund transfers overseas. The elements of a money laundering conspiracy involving top 1MDB officials and the Prime Minister has never been carried out.”

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                           August  15, 2016 Subsribe Now !
• Brunei’s exports slip to $503.8 million in June Subcribe: Asean Affairs Global Magazine
• Malaysia central bank investigation on 1MDB is over: Governor
• 50 top IT firms named in VN, English, Japanese
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Malaysia GDP growth slows to 4% in Q2 
• Twinings tea comes to Myanmar
Asean Analysis                  August 5, 2016
• Asean Analysis August 5, 2016
A Quick but Concerning Start to the Duterte Presidency
Advertise Your Brand

Asean Stock Watch   August  10, 2016

• Asean Stock Watch-August 10, 2016
The Biweekly Update
• The Biweekly Update  August 5, 2016

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


Indonesia  to launch 13th economic package this month

Coordinating Economic Minister Darmin Nasution said on Wednesday that the government would release its 13th economic policy package in August, adding that the draft had been completed.

Darmin said the 13th package was largely an extension of the previous one, but would expand its focus beyond industry. The 12th package focused on small and medium enterprises.

"We are just waiting to schedule a meeting with the president," Darmin told reporters at his office. He refused to give the exact date the new policy package would come into effect.

 The ministry team must meet with President Joko "Jokowi" Widodo one more time to finalize the details, Darmin said.




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand