NEWS

Now the main event - Bank Negara vs AG’s Chambers

Yoursay

Published
Modified 11 Oct 2015, 1:57 am

YOURSAY | ‘It looks like the lady has finally drawn her sword and is flexing her muscles.’

BNM revokes approvals for 1MDB's RM7.5b fund transfers

Abdul Kadir Jasin: Bravo Bank Negara. 1MDB isn't God. It can defy PM Najib Razak's instruction for GLCs (government-linked companies) and GLICs (government-linked investment companies) not to invest abroad and to bring capital home, but it cannot defy the laws of the country.

Its true colours have been exposed, its tricks known. Now we know one of the culprits that's fleeing the country with their capital is 1MDB.

If 1MDB is as good as CEO Arul Kanda Kandasamy has been bragging, it should be able to borrow abroad or liquidate its deposits abroad to meet its obligation.

Or are they taking out the money for fear that their accounts will be frozen?

Vijay47: So it looks like the lady has finally drawn her sword and is flexing her muscles. Her response might be a tad slow in coming, but welcome all the same.

In revoking the earlier approval, Bank Negara governor Zeti Akhtar Aziz is openly stating that deceit and false information had been presented previously by 1MDB and consequently, offences against the Exchange Control Act had been committed.

What will your next course of action be, AG Mohamed Apandi Ali? Will you still maintain your generous and forgiving nature and hold that 1MDB has been virginal in their actions?

I suppose that in this perceived conflict, you will emerge the victor since your Chambers is the only authority that can decide whether an offence has indeed been committed and whether charges should be laid.

Could Zeti be charged for going against parliamentary democracy?

Res Ipsa: Everyone wants to play hide-and-seek these days. Bank Negara had submitted its papers to the Attorney-General’s Chambers on Aug 21.

The evidence of wrongdoings at 1MDB could have been so clear-cut that the bank must have been under an expectation that the AG would do the natural thing and press charges.

Instead, the AG sat on the matter for over three weeks (until Sept 11) and returned the cause papers marked NFA (no further action). Now the question on everyone's mind is this: Why did the AG not make a public announcement at the material time that it did not find any wrongdoing at 1MDB and the matter was NFA?

Bank Negara can't be faulted on this aspect as they would have been naturally disappointed with the decision of the AG not to charge. This explains their appeal submitted on Oct 1 for a review of the case, which was also unsuccessful.

It needed a royal rebuke for the AG’s Chambers to quickly come up with a statement that the matter was NFA. Now that BNM has revoked certain investment permissions given to1MDB, let’s see the consequential effects.

Hmmmmmmmm: AG, you are fighting a losing battle. You will spend your life covering one hole after another.

Sooner or later, the truth will catch up with you and you will be punished more severely than others for you of all others should know better than to pervert justice.

JusticeNow!: Finally, an agency that is without fear or favour has emerged to support the rule of law. It tells you the callous and shameless behaviour of the AG’s Chambers, no, blatant abuse of power to dismiss a monumental grand theft.

Oh Ya?: If Bank Negara could be easily be misled by inaccurate or incomplete information into approving the billion of ringgit of bonds in foreign currency and the movement of the proceeds in and out of the country, then good luck to ‘hazy land’.

Shouldn't the Bank Negara officials who approved it do the honourable thing and resign? What about the ‘donations’ that were credited to Najib's personal account?

How could it pass the Anti-Money Laundering and Anti-Terrorism Financing Act, especially the recipient is a politically-sensitive person and the ‘donor’ is from an area that is breeding ground for terrorists?

FellowMalaysian: With this, Bank Negara is admitting that there was negligence on their part when they approved the transactions. It is only now they declared their oversight, and this is likely after some strong exhortation from someone.

Indeed, Bank Negara has committed culpable negligence and Zeti will have to answer.

Sleepy: Yes, I laud the revocation, but what concerns me is the approval in the first place. Was there pressure to approve the transactions?

CQ Muar: In view of all the improprieties committed by the PM over the controversial 1MDB fiasco, Bank Negara must uphold its duty and responsibilities with no holds barred.

It must be borne in mind that the world is watching, therefore Bank Negara must maintain and conduct its duty with the highest professionalism expected of them. This is regardless of anyone or any institution that may stifle its responsibility.

As no one is above the law, and for the sake of safeguarding this country's interest and welfare, anyone found guilty for breaching the Federal Constitution must bear the same consequence.

Discharge your duty fully without fear or favour; bearing in mind that criminals and those responsible must pay a high price for misconduct and breach of trust the nation had entrusted them with.

Bitter Truth: Have we forgotten about the generous sheikh who donated RM2.6 billion? Now is the time to turn to him again for help to enable 1MDB to get out of this mess.

I’m sure he will be more than willing to make another donation, this time RM7.5 billion. What are friends for, especially in times of need?

Anonymous_1425871172: This is a good decision by Bank Negara but it will not be appreciated by those who are ‘linked’ to 1MDB.

Zeti has nothing more to lose as her contract will expire anyway. She might as well right all the wrongdoings once and for all and go down fighting. We will appreciate it more if she is willing to tell all.

Speechless: Well done, Bank Negara. We Malaysians stand steadfast with you to ensure that the rule of law is followed.

Doing the right thing in the face of oppressive and unconscionable forces, and we know it requires great courage.

In these dark times, we need more people like you who stand fearless in the pursuit of justice and truth.

Bank Negara closes stable door after horse has bolted


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