There is nothing dubious about the controversial out of court settlement with Bank Islam over a personal loan, embattled Selangor Menteri Besar Abdul Khalid Ibrahim stressed today.

 

In an elaborate explanation to civil servants during an assembly at the Selangor state secretariat building, Khalid said that he would take legal action against those who suggested otherwise.

 

"I will let the law take its course, and will use legal means to clear my name," he said.

 

However, he said that he is unable to reveal details of the out of court settlement because he is bound by banking secrecy.

 

"Banking is all about secrecy. If we reveal secrets, then the whole institution will collapse. It can't be revealed to the public," he said.

 

He said that everything about the settlement was done "transparently" and there was nothing doubtful and suspicious about it.

He said that criticisms against him have now become “personal attacks” even though he “did not like” mixing up professionalism and personal affairs.

The RM67 million loan case settled out of court has been used by Khalid’s former party, PKR, as among the chief reasons to raise questions about his integrity.

He said that those who are unhappy with the settlement should write to Bank Negara Malaysia and seek for an audit on the settlement process to ensure transparency.

“My loan was from an Islamic bank. In Islam, secrecy and trust is a responsibility. We must protect this discipline,” he said.

Selangor crisis today

1.33pm: Selangor PAS reps still do not want to sign statutory declarations declaring support for Wan Azizah.

10.22am: Khalid says he will have an audience with the sultan tomorrow

10.28am: Khalid denies graft allegations involving his out-of-court settlement with Bank Islam, but does not reveal details citing banking laws

10.53am: Khalid says the PKR-criticised water industry restructuring deal will be his legacy

12.22pm: PKR de facto leader Anwar Ibrahim says the sultan is likely to grant an audience to Wan Azizah after he meets Khalid

10.30pm: PAS MP Khalid Samad says PAS decided not to nominate any names to the palace as it could not reach consensus.