Malaysians deserve answers on 1MDB: Bank Negara chief

September 22, 2015 08:27
The public has the right to get answers on the controversy related to state-owned investment firm 1Malaysia Development Bhd., says Bank Negara Malaysia chief Zeti Akhtar Aziz. Photo: Bloomberg

Malaysia's central bank chief called for more information to be made available to the public about 1MDB, a controversial state investment fund that is the focus of global investigations.

"The public wants answers to these questions, and they deserve to get the answers," Bank Negara Malaysia Governor Zeti Akhtar Aziz said Monday, the Wall Street Journal reported.

"In this day and age, it must be known that there is no place in this planet that anyone can actually hide because the world has come together," she was quoted as saying suring a panel discussion on the Malaysian economy.

The central bank governor’s comments come as questions surrounding 1Malaysia Development Bhd (1MDB) continue to grow.

The fund, which was set up by Prime Minister Najib Razak in 2009 to help drive the economy, is having difficulty repaying more than US$11 billion of debt. 

A government probe found that nearly US$700 million moved through banks, agencies and companies linked to the fund before being deposited into Najib’s alleged private bank accounts ahead of a close election in 2013, according to the report.

The source of the money is unclear, and the government investigation hasn’t detailed what happened to the funds that allegedly went into Najib’s personal accounts.

Malaysia’s anticorruption body in August said the funds were a donation from the Middle East. The donor wasn’t specified.

Najib has denied wrongdoing and denied taking money for personal gain.

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