As the regulator of the financial and banking sector for the country, BNM must be relentless in going after wrong-doers. Not least, to turn around the fast-diminishing trust of both foreign and local investors in the transparency and financial governance of the local financial industry.
Following through the infamous revelation of the RM2.6 billion transferred to the personal accounts of Prime Minister Datuk Seri Najib Razak, who is also finance minister, back in July this year, one could not escape being oftentimes, angry for the many obvious “breaches” committed by the very-opaque 1Malaysia Development Berhad (1MDB).Yet, BNM remained astonishingly muted then. AmBank had in July even bullishly denied that they were being investigated by BNM for alleged anti-money laundering activities.
The rakyat can now arguably breathe a sigh of relief. But is that really so? Not quite perhaps.