YOURSAY | 'Or is it a case of see, hear, and speak no evil, and do nothing?'
Singapore orders bank involved with 1MDB to shut down
Kim Quek: The Monetary Authority of Singapore’s (MAS) decisive action to close down 1MDB-linked BSI Bank offers a sharp contrast to the impotence of lame duck Bank Negara, which is the home regulator of 1MDB, whose alleged mega financial criminalities have scandalised the world.
Such contrast aptly reflects the extremities in governance between these two neighbouring countries – one, a beacon of integrity and the other, a showcase of decadent rule, the extent of which is mercilessly exposed in the sordid 1MDB affairs and the government’s total failure to deal with them.
Malaysia’s failure is rooted in its entrenched political culture in which racial considerations reign supreme. So long as this country fails to free itself from this racial shackle, its future is doomed.
Ironically, this 1MDB disaster, which has caused so much damage to the nation, may also prove to be the saviour, as its devastating consequences have opened the eyes of the incumbent power’s traditional supporters to the betrayal and failure of their leaders.
If only the opposition alliance could overcome its internal squabbles and forge a solid united front, Malaysia may as yet be given a new lease of life, come the next general election.
Disgusted: So what about Bank Negara? Will it reprimand AmBank and close it down for money laundering?
Or is it a case of see no evil, hear no evil, and speak no evil and do nothing at all about evil?
Jibtuya C4: Opposition parties, please stop slandering our premier and 1MDB. Investigations are being carried out or have been carried out by the attorney-general, the Public Accounts Committee, and the police.
Everyone in the world knows that the Malaysian government's institutions are more transparent, fair and competent than the Swiss government's.
The Swiss government is known to be more corrupt than Malaysia, everyone knows that. Switzerland is just a small country, what do they know about banking and finance? Please stop slandering our country.
Maplesyrup: Step aside former Bank Negara governor Zeti Akhtar Aziz. You are no longer the gold standard for central bankers. Your action, or rather the lack of it, over what is happening in Malaysian banks, is appalling and shameful.
Prime Minister Najib Abdul Razak reportedly said he got the clear from you for the RM2.6 billion transfer. Now what have you got to say about that?
Now you need to do the decent thing and at least reveal if there was such an approval given to Najib.
Hmmmmmmmm: If only our Bank Negara was half as strict.
FellowMalaysian: Swiss Bank BSI's Group CEO, Stefano Coduri, should be charged with gross CBT (criminal breach of trust) over the bank’s alleged involvement in money-laundering activities and failure to exercise fiduciary duties.
Wira: Sh*t will hit the fan when the six members of BSI Bank's senior management and staff are tried in a Singapore court.
Details of 1MDB dealings and dubious money transactions through this bank will be revealed to all and sundry.
Vijay47: In the megamovie ‘1MDB - The Big Heist’ with its cast of thousands, Singapore banks play only minor roles. The superstars are all from Malaysia and not coincidentally, the original Hollywood.
Yet the Monetary Authority of Singapore (MAS) has taken the extraordinarily firm action of withdrawing BSI's licence to operate.
Meanwhile in Malaysia, the stage and hotbed from where the crooked screenplay was written and directed, not a single person has been charged and the principals have not even been interviewed by the police or other relevant enforcement agencies.
Worse, the latest revelations by Department of Special Affairs (Jasa) director-general Mohd Puad Zarkashi, the comedian introduced into the 1MDB plot for comic relief, suggest that Zeti and Bank Negara were actually parties to the goings-on when "approval was granted to Najib to bring in RM2.6 billion", no questions asked.
Negarawan: Kudos to Singapore’s attorney-general (AG) and MAS for doing the right thing in the name of justice.
In stark contrast, the Malaysian AG, the Malaysian Anti-Corruption Commission and Bank Negara are still in a state of denial despite the fact that the main perpetrators behind 1MDB are Malaysians.
Where are their ethical and moral principles? Shame on them!
Just Me: Everywhere, investigators are saying that something is wrong. Only in Malaysia our AG says everything is okay. Why?
Dont Just Talk: Yes, Bank Negara should do the same to foreign and local banks which flout Malaysian banking laws, and deemed to be involved in money laundering.
What MAS did to BSI Bank is indeed laudable - to show the world that Singapore means business, unlike – ahem – here where billions can leave the country through various scams, with some returning as 'American pies'.
Anticonmen: Please return the money to a trust fund for the poor, managed by trusted persons. And what about the money laundered by Sarawak politicians and timber deals through Singapore banks?
James_3392: Perhaps invite BSI to come to Malaysia and increase our foreign direct investment.
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