Minister urges Bank Negara, AGC to settle 1MDB suit issue

Datuk Paul Low, minister in the prime minister’s department, wants Bank Negara Malaysia and the Attorney-General’s Chambers to settle their differences over prosecuting 1Malaysia Development Berhad. – The Malaysian Insider file pic, October 16, 2015. 

Bank Negara Malaysia and the Attorney-General’s Chambers (AGC) must settle their differences over the decision to not prosecute state investment arm 1Malaysia Development Berhad, says Datuk Paul Low.

The minister in the prime minister’s department was confident that the two institutions understood what had to be done and advised them to ensure it was settled by upholding lawful principles.

“As a minister, I feel it is not proper for me to comment on the issue.

“But still we hope that the two institutions would be able to settle the issue among themselves,” he told reporters in Kuala Lumpur today.

Attorney-General Tan Sri Mohamed Apandi Ali last Thursday revealed AGC's decision not to take further action against 1MDB for making inaccurate disclosures to obtain permissions.

He said the decision was made despite the central bank's appeal for a review as there had been no additional evidence.

Bank Negara then revealed that it revoked three permissions granted to 1MDB between 2009 and 2011 because of inaccurate disclosures.

On Tuesday, Apandi defended AGC's decision not to prosecute, saying the central bank had not sought enough information from the state investment firm to show that it had broken the law. 

- TMI