Bank Negara to undertake assessment on recovery of 1MDB funds

Bank Negara to undertake assessment on recovery of 1MDB funds

Malaysia is expected to retrieve US$4.5 billion from the US.

Free Malaysia Today
KUALA LUMPUR:
Bank Negara Malaysia (BNM) has been objective and has followed the law under its purview when it comes to the 1Malaysia Development Bhd-related investigation but will reopen it if new data emerges, Governor Muhammad Ibrahim said today.

“Whether we will reopen the case and look at a different angle, (I believe) we have exhausted all investigations.

“We have given all the information to the Attorney-General Chambers,” he said.

When asked how much of the 1MDB-laundered money BNM intends to return back to the country, Muhammad said he could not comment as it had yet to receive any new data on the investigation.

The central bank would be able to make an assessment only when it gets new and more comprehensive information, he said during the question-and-answer session in conjunction with the announcement of Malaysia’s first-quarter (Q1) gross domestic product (GDP) performance here today.

As for possible actions against Ambank Group (AMMB Holdings Bhd), Muhammad reiterated that action would only be taken if there is new information retrieved by the central bank.

“So far, we have taken (all) the necessary actions based on the information that we have (received), but if there is (new) data that we don’t have before, we will certainly look at it (the case) again,” he added.

Yesterday, Prime Minister Dr Mahathir Mohamad announced that the government was expected to contact several countries, namely Switzerland, Singapore, the United States (US), as well as Luxembourg to recover the alleged funds.

Of the amount to be recovered, Malaysia is expected to retrieve US$4.5 billion (RM17.85 billion) from the US, which is sufficient to settle some debts.

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