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Saturday, May 31, 2014

MACC clears RM32mil loan to businessman Deepak


There are no elements of corruption in Bank Rakyat's RM32 million interest-free 10 year loan to a carpet businessman Deepak Jaikishan, said the Malaysian Anti-Corruption Commission (MACC). 

In a statement today, it said initial investigations found it was more a bank governance issue.

"However, the commission will take appropriate followup action including calling the relevant parties if we receive new information," it said.   

A news portal recently quoted the bank's former chairman Sabbaruddin Chik (right), as alleging the businessman had sought the intervention of a politician to get the loan on highly favourable terms.
  
Deepak is reportedly a close friend of Prime Minister Najib Abdul Razak and his wife Rosmah Mansor.

Sabbaruddin also allegedly said that the termination of his tenure as Bank Rakyat chairman was directly connected to the bank board’s decision regarding the Deepak loan.

The MACC also pointed out that not all complaints or allegations reported by the media or raised by any party is corruption.   

"The MACC Act 2009 only provides provisions for investigating cases with elements of corruption.

"In this regard, the commission hopes this case is also investigated by other related agencies under the relevant laws so that action can be taken against a certain party because of failure to comply with regulations," the statement said.

Meanwhile Gua Musang MP Razaleigh Hamzah, commenting on this issue, said that Bank Rakyat is not under the Banking Act, and it is not under the purview or control of Bank Negara but under cooperatives.

“However, it is ‘not on’ to provide such deals. Under what government policy are they extending this very good facility? Based on a request made by a customer?” asked the former finance minister.

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