'My brother asked for help and it didn't involve anything wrong'

CIMB chairperson Nazir Razak has denied any wrongdoing on his part with regard to the disbursement of US$7 million he received from his brother, Prime Minister Najib Abdul Razak, ahead of the last general election.

"It was the run-up to the election and it was an urgent thing. Whatever was given to me was given out," he told the Edge Financial Daily last week.

"I think people will make their own decisions. But the fact is, there was nothing wrong in what I did. My brother asked for help and the help didn’t involve doing anything wrong, so I helped.

"I didn't benefit in any way, nor did I think it would be controversial in any way. But I accept that given the scrutiny and interest in this current controversy, that I’m scrutinised," he said.

Nazir also said he wanted to be as transparent as possible so that people know what transpired, and this motivated him to speak up on the matter.

Quizzed on whether the issue would reach a point that would force him to step down from the bank, he replied: "I think we need to analyse what the wrongdoing was. But where is the wrongdoing?"

"Did I use the bank's resources? No. Did I get staff to do anything unusual? No. Where is the wrong here? That's the fundamental question," he added.

Nazir also reiterated he was clueless with regard to where the funds were sourced from, and had believed that it originated from donations raised from Malaysian companies and individuals.

"At the time, there was no 1MDB story. There was no link, no thinking of any link, between 1MDB and politics. All that emerged after.

"It is normal, during the run-up to elections, for political parties to get contributions or donations. I was aware because friends would call me and say they want to donate to the campaign," he added.

Last week, The Wall Street Journal quoted Nazir as admitting to having received the US$7 million from his brother.

The money was later disbursed to politicians in the ruling party.

Taking to Instagram later, the CIMB chairperson expressed regret over the matter.

"I understand the furore, and with hindsight, I wish I didn't," he said.

Nazir also explained that leading up to the last general election, Najib asked him to "urgently help pass on cash to party machinery".

"I assumed and believed, in good faith, that the funds came from legitimate political fund-raising," he wrote. -Mkini