Scuttle 1MDB’s financial operations, says Rafizi


Pandan MP urges Bank Negara to cancel all financial licences and fund transfer permits

(Free Malaysia Today) – Bank Negara Malaysia has now been urged “to scuttle” 1MDB’s financial operations and to cancel all financial licences issued to 1Malaysia Development Bhd, in the wake of its revocation of permission for 1MDB to invest abroad.

Pandan MP Rafizi Ramli said the central bank should invoke all its powers against the state investor by cancelling any licences issued to 1MDB for operating its financial business.

He said the Bank should also cancel all permits or approvals for fund transfers and to reject any future application by 1MDB for such transfers.

The Bank’s revocation of exchange control permission for investment followed the refusal of the Attorney-General to begin criminal proceedings against the company, which is the Federal Government’s investment arm, for inaccurate or incomplete information relating to the investment.

Rafizi, who is secretary-general of Parti Keadilan Rakyat, said that Bank Negara should use its authority to ensure that the 1MDB issue did not drag on. He said the issue of the US$1.83 billion investment had been raised some time ago, and questions rose about money laundering.