The balance of 1Malaysia Development Bhd's (1MDB) US$1.103 billion in the Cayman Islands is now parked at BSI Bank Limited Singapore (BSI Singapore), Putrajaya said today, as questions over the whereabouts of the money continue to hog the headlines.
"The decision to use BSI Singapore (is) to facilitate easier withdrawals since regulations set by Bank Negara Malaysia needed its approval for transactions over RM50 million," he said.
- TMI
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