PRESS STATEMENT, 14 MAY 2015, KUALA LUMPUR. Transparency International-Malaysia (TI-M) has expressed repeatedly in recent times the need to fully investigate and bring to the surface the various questionable transactions of 1MDB as reported in the media.
TI-M notes that many of these transactions appear to be cross border deals and involved movement of funds to and fro Malaysia and from and to Malaysian financial institutions. TI-M believes that Bank Negara Malaysia (BNM) as the central bank of Malaysia has all the adequate powers to investigate these transactions and compel disclosure of all relevant information concerning these transactions to see if any law has been breached.
TI-M thus calls upon BNM as the main regulator of banking business and transactions to exercise such powers without delay. RM42b is not a small sum and the possible financial collapse of 1MDB has great adverse impact on taxpayer’s funds and Malaysia’s financial wellbeing. TI-M expects Bank Negara to rise to the occasion and perform its role without fear and favour.
Dato’ Akhbar Satar
Transparency International Malaysia
Transparency International-Malaysia is an independent, non-governmental and non-partisan organisation committed to the fight against corruption.