Bank Negara confirms told about 1MDB-BSI ‘cash’ issue by Singapore

Governor of the Bank Negara Malaysia Zeti Akhtar Aziz participates in a discussion on the global economy during the World Bank/IMF Annual Meeting

(Malay Mail Online) – Bank Negara Malaysia (BNM) today confirmed receiving a report from its Singapore counterpart on a complaint lodged by BSI Bank about 1Malaysia Development Bhd’s (1MDB) account that the Swiss bank was handling.

BNM Governor Tan Sri Dr Zeti Akhtar Aziz said the Monetary Authority of Singapore (MAS) had furnished its report on its investigations into the account, which recently caused controversy here when it was revealed that the US$1.103 billion kept in it was in “units” and not cash as previously claimed.

“They have announced to send the report to us and yes, we did receive it,” Zeti said during a press conference on the Labuan Financial Services Authority Annual Report 2014 here today.

But she declined to divulge the contents of the report, which former prime minister Tun Dr Mahathir Mohamad previously insisted contained information to show 1MDB lied about having cash in BSI Bank.

She also did not state when the information was provided by the MAS, which reportedly said in March that it would lend its assistance to Malaysia following an expose by whistleblower site Sarawak Report about 1MDB’s purported deposits in Singapore.

“I can’t mention, I already informed you that international community would not cooperate with us if we release the information that it extended to us, and therefore it will stop all investigations if we talk about it,” Zeti said.