The Finance Ministry has confirmed that a new bank has taken over BSI Bank's functions as custodian bank for Brazen Sky Limited - a key component of the 1MDB controversy.

However, the ministry, in a parliamentary written reply, has refused to name the new bank.

"Brazen Sky Limited's units are managed by a fund manager. The purpose of the fund manager is different from the function of a custodian bank, which among others, acts as an intermediary.