The administrative action which Bank Negara is planning to take against 1MDB is not criminal in nature, said Deputy Finance Minister Johari Abdul Ghani.
"The administrative action is a fine, it's not criminal," he told the House today.
As for the fine to be imposed, he said that would be determined by the Attorney-General's Chambers.
Asked by Lim Guan Eng (DAP-Bagan) if the fine would be paid using taxpayers' money through 1MDB or by the individuals in charge, Johari said it would be paid by the firm.
"According to procedure, when an investigation is done, the fine will be paid by the company, not the individual," the deputy minister said.
He added the action is only to ensure that all firms abide by its rules for foreign investments.
Last week, outgoing Bank Negara governor Zeti Akhtar Aziz said the central bank was pursuing "appropriate administrative action" following 1MDB's failure to repatriate US$1.83 billion in funds parked overseas.
1MDB has said it would be unable to return the funds as it has already been spent or earmarked for debt transfers. -Mkini
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