PM and Bank Negara governor prejudicial to the nation!

Travel bans were imposed on certain critical Malaysians without any valid reason. The Edge Weekly and The Edge Financial Daily are suspended for three months starting from 27 July without any justification.

In all these grave actions, the Home Ministry has contended rather unconvincingly that these individuals and the reporting by the Edge “are prejudicial or may be prejudicial to public order, or may alarm public opinion or jeopardise public order and national interest”.

But there is no iota of evidence to suggest that these claims of likely disorder, jeopardy and unrest are true. Nothing has happened even to suggest remotely that this may come to being. If anything, it has been business as usual.

On the other hand, these claims of likely chaos can be attributed to the PM’s conduct and his refusal to deny or admit what has been written about the RM2.6bn that has allegedly found its way very mysteriously into the PM’s private accounts.

The PM is in the eye of the storm, as it were, in the controversy of this RM2.6bn scandal that would have otherwise just disappeared into thin air had it not been for these explosive disclosures.

The PM’s stand is that he has not used the 1MDB money for his personal profit. But who had accused him of that? As far as it can be ascertained, no one had ever implied or suggested that the PM had indeed used the money for his personal profit. Then, why does he deny this? It does not make sense!

If the PM can either confirm or deny what has been written concerning him on two counts, it can bring to a close the controversy that is presently raging.

1. The private accounts that have been attributed to him in the AmIslamic Bank – are they his personal accounts?
2. The alleged RM2.6bn that had found its way into these accounts – is this indeed true?

The PM so far has not denied these but can he at least affirm that these are facts?

If he can do these, we need not go after those who are only acting in the interest of the nation. These innocent people need not be hounded and their lives made difficult.

The Bank Negara Governor in keeping with her pecuniary duty and responsibility could have attested to this fact. Since such a colossal amount of public money is involved under worrying circumstances and in danger of disappearing completely to the great loss to the nation, isn’t it her moral responsibility to make a declaration on this issue?

When Malaysian societies receive funding from overseas, they are obliged to disclose details of such funding. Otherwise Bank Negara will go after them wanting to know where the money came from, for what purpose and who the donor is.

When RM2.6bn went into some private accounts, what role did Bank Negara play? Did it write to the account holder? What questions were posed to this person? And what explanation was given by him?

We were told that the money from the Cayman Islands, “the balance” of 1MDB’s US$1.103bn funds had been deposited in US dollars with BSI Bank Limited Singapore (BSI Singapore), the local branch of a Swiss bank.

“The decision to use BSI Singapore was to facilitate withdrawals since regulations set by Bank Negara Malaysia needed its approval for transactions over RM50m,” said Najib in his written reply to Petaling Jaya Utara MP Tony Pua.

If that was the case, how was it that the private accounts of the PM were closed and the huge sum of money allowed to be withdrawn without any special permission or provision? Or are we merely assuming that this was the case?

Now we are compelled to ask whose actions can be truly considered as being “prejudicial or may be prejudicial to public order, or may alarm public opinion or jeopardise public order and national interest”?

Both the PM and the Governor of Bank Negara are in the dock of public opinion!

P Ramakrishnan
Aliran Exco Member
27 August 2015