Hornbill Unleashed

August 12, 2016

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

Filed under: Politics — Hornbill Unleashed @ 9:00 PM

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 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.



  1. BNM, MACC, IGP and the AG must reopen the investigation on 1MDB based on the lastest DOJ civil suits against individuals who violated US laws to siphon money from 1MDB to benefit themselves as well as transferring more than USD 700 million into Najib’s private bank accounts with AmBank in Malaysia.

    Recently the new MACC chief has been talking cock and nothing but rubbish when he warned those who were corrupted to surrender themselves for a lighter sentence. Sarawakians welcome him to arrest Taib Mahmud, Awang Tengah Ali Hassan, Abdul Rahman Daud and several illegal logging bosses probed by MACC Sarawak previously. Prove to Malaysians that you are not a stooge of Najib Tun Razak who is only good at harassing Opposition leaders.

    Comment by Awaken Dayak — August 14, 2016 @ 1:23 PM | Reply

  2. The credibility and integrity of the Central Bank has been tarnished by the shocking announcement by the BNM governor, Mohamad Ibrahim, that BNM has closed the case after it was believed an undisclosed sum of fine was melted out at 1MDB. The BNM governor has failed in his professional responsibility to institute a civil suit against 1MDB to bring back USD1.83 billion. Malaysians demand that the governor of BNM explain why there was no further action against 1MDB and we urge him to resign.

    Comment by Sabri Yaman — August 13, 2016 @ 8:30 PM | Reply

  3. The integrity of BNM has obviously been compromised. There is a visible sign of trade off when Muhammed Ibrahim was appointed to replace Zeti Aziz. Najib had initially wanted to appoint Irwan Serigar Abdullah to cover up 1MDB financial scandals. As part of the trade off and to look good 1MDB had been fined instead and Mohamad Ibrahim was appointed and there shall be no further probe on 1MDB. The AG insisted Najib has not commited any wrongs and the PAC chairman also covered up for Najib. The fall guys were the diligent and professional MACC senior officials who were asked to retire or removed.

    Comment by Mata Kuching — August 13, 2016 @ 10:21 AM | Reply

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