Ex-Bank Negara deputy governor involved in 1MDB probe, says WSJ

  • Jun 11, 2018
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1MDB allegedly invested US$1.83 billion outside the country from 2009 to 2011 and Bank Negara had queried that investment. 

FORMER Bank Negara Malaysia deputy governor Nor Shamsiah Mohd Yunus, who is widely tipped to replace Muhammad Ibrahim in the top post, was closely involved in the central bank’s investigation into the troubled state investment arm 1Malaysia Development Bhd (1MDB). 

The Wall Street Journal reports today reported that the return of Nor Shamsiah, who was involved in the inquiry in 2015 under then Bank Negara governor Zeti Akhtar Aziz, could further push investigation into the scandal. 

“Nor Shamsiah’s return to Bank Negara could inject vigour into the central bank’s investigations into what went wrong at 1MDB,” the report said. 

Muhammad was Zeti’s successor and became governor in May 2016. He resigned last week.

He became the target of scrutiny after the Council of Eminent Persons chairman Daim Zainuddin raised questions over the bank’s RM2 billion land purchase from the previous government.

Muhammad, a Najib Razak appointee, insists that the deal was above board and the central bank had no knowledge of the 1MDB connection. 

Following a series of investigations into 1MDB after Pakatan Harapan’s stunning victory in the general election last month, the central bank is expected to shed some light on some of the problems at 1MDB, the report said. 

“The central bank recommended at the time that the attorney-general’s office file criminal charges against 1MDB, alleging that it gave inaccurate information regarding the investment of US$1.83 billion outside the country from 2009 to 2011.

“The attorney-general declined, saying Bank Negara Malaysia had supplied insufficient evidence,” the report said.