Bank Negara Malaysia has issued a letter of administrative compound to 1MDB for failing to fully comply with directions issued under the Financial Services Act 2013.
The compound was issued after receiving the consent of attorney-general Mohd Apandi Ali.
"This includes requirement for 1MDB to repatriate monies remitted abroad following the revocations of the three permissions granted by Bank Negara to 1MDB in 2009, 2010 and 2011.
"1MDB has also failed to submit evidence and documentation specified by Bank Negara to justify its inability to fully comply with the repatriation order.
“1MDB has been given until 30 May 2016 to pay the compound," read statement released by the central bank today.
According to the statement, once the payment of the compound is settled by 1MDB, it would mark the conclusion of the investigations by Bank Negara into various incidents where the sovereign fund contravened the central bank's rules and regulations.
[More to follow]
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