BNM reveals 1MDB was fined RM15 million

KUALA LUMPUR: Bank Negara Malaysia (BNM) imposed a RM15 million fine on the debt-ridden 1Malaysia Development Bhd (1MDB) at “a time that the central bank was allowed to do so”, said Governor Datuk Nor Shamsiah Mohd Yunus.

She did not specify when.

Nor Shamsiah was responding to a question on the amount of fine imposed thus far on 1MDB during a press conference here yesterday on Malaysia’s gross domestic growth for the second quarter of this year.

On April 28, 2016, BNM had issued a letter of administrative compound to 1MDB for failure to fully comply with directions issued under the Financial Services Act 2013. It was one of the final actions taken by Tan Sri Dr Zeti Akhtar Aziz prior to her retirement as BNM governor.

Nor Shamsiah said BNM was prohibited from revealing the amount of that fine at the time.

She said as Parliament had given the green light to re-open the 1MDB probe, BNM would continue to work with agencies under the task force that was formed to investigate the company.

The Prime Minister’s Office, on May 21, said a special task force headed by former attorney-general Tan Sri Abdul Gani Patail and three other leaders had been formed to investigate 1MDB.

The task force includes personnel from BNM, the Malaysian Anti-Corruption Commission, the Attorney-General’s Chambers and the police, as well as lawyers specialising in the relevant laws.

“As part of the task force, we have been assisting the team by sharing our investigation papers and what we have uncovered so far to agencies and the task force.

“We are also helping them look at the money flow (of 1MDB),” Nor Shamsiah said, adding that BNM’s priority was on promoting financial stability.