Malaysia has set up a special committee to probe matters relating to the state fund 1Malayia Development Berhad (1MDB), announced the country’s Council of Eminent Persons on May 17.
The symbol of 1MDB in Kuala Lumpur, Malaysia (Source: AFP/VNA)
Kuala Lumpur (VNA) – ♓Malaysia has set up a special committee to probe matters relating to the state fund 1Malayia Development Berhad (1MDB), announced the country’s Council of Eminent Persons on May 17.
The committee will be led by former Malaysian Attorney-General Abu Talib Othman. In a statement, the council stressed that until and unless the issue of 1MDB is resolved, there will be questions that undermine public confidence in the government and its institutions. The same day, Governor of the Central Bank of Malaysia (BNM) Muhammad Ibrahim said BNM officials met with the council to share all data related to the state fund. Former Malaysian Prime Minister Najib Razak formed the 1MDB state fund in 2009 to stimulate socio-economic growth. He was accused of having links to losses of billions USD in foreign transactions through 1MDB. Both Najib and the fund denied the allegation. Earlier, new Malaysian PM Mohamad Mahathir said the 1MDB investigation will resume and showed determination to retrieve the money. On May 16-17, Malaysian police conducted searches at five locations linked to former PM Najib, including his residence.-VNA
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The symbol of 1MDB in Kuala Lumpur, Malaysia (Source: AFP/VNA) 
