Statement on 1Malaysia Development Berhad (1MDB)
Embargo :28 Apr 2016
Following receipt of the consent of the Attorney General today, Bank Negara Malaysia has issued a letter of administrative compound to 1MDB for failure to fully comply with directions issued under the Financial Services Act 2013. This includes requirement for 1MDB to repatriate monies remitted abroad following the revocations of the three permissions granted by Bank Negara Malaysia to 1MDB in 2009, 2010 and 2011. 1MDB has also failed to submit evidence and documentation specified by the Bank to justify its inability to fully comply with the repatriation order. 1MDB has been given until 30 May 2016 to pay the compound. The payment of the compound marks the conclusion of the investigation by Bank Negara Malaysia on the contraventions to the rules and regulations of the Central Bank.
Bank Negara Malaysia
28 April 2016
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