Investigations into 1Malaysia Development Bhd (1MDB) has been completed and all the necessary actions have been taken against the state investment fund, Bank Negara said.
“We have completed all our investigations on 1MDB based on all the information (available for us) and the investigations papers.
“We have imposed a penalty on the company.
“We have taken all the necessary actions against the company as entrusted to us under the law, and we have closed the investigations,” Bank Negara governor Datuk Muhammad Ibrahim said in response to questions on whether the central bank would initiate new investigation into 1MDB in view of the findings by the United States’ Department of Justice.
The DOJ last month filed a civil suit against several individuals to seize over US$1bil (RM4.01bil) worth of assets, which it said were the result of US$3.5bil misappropriated from 1MDB.
Muhammad said Bank Negara “will be guided by international protocols” if the DOJ approached the central bank for assistance in its investigations.
“When it comes to international corroborations, we are dictated by certain protocols,” Muhammad said.
“We will abide strictly by those protocols when it comes to cooperation with any external investigating bodies,” he stressed at the press conference here.
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.
These included requirements for 1MDB to repatriate monies remitted abroad following the revocations of the three permissions granted by BNM to 1MDB in 2009, 2010 and 2011 and failure to provide evidence to justify its inability to fully comply with the repatriation order.
In May, 1MDB said it had fully paid the undisclosed sum of the fine.
Bank Negara had then said the payment of the compound would mark the conclusion of the investigation by Bank Negara on the contraventions to the rules and regulations of the central bank.
Source -The Star Online-