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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

Bank Negara validating 1MDB’s explanation on US$1.83 billion funds

Posted on 16 November 2015

Bank Negara Malaysia is still “validating” 1Malaysia Development Bhd’s (1MDB) explanation on its inability to repatriate US$1.83 billion in funds ordered by the central bank. Stressing that “the matter is not straight forward” and related to 1MDB’s rationalisation plan, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz did not commit a timeline for the completion of its evaluation process.
“It’s premature to say anything more, we’ll make assessments once we’ve received all information that we’ve requested,” she said during a press conference on Friday announcing the country’s gross domestic product growth figures for the third quarter of the year………………………………………..Full Article: Source


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