KUALA LUMPUR: CIMB Group Holdings Bhd's board of directors has initiated a review on its anti-money laundering processes including the US$7mil transaction chairman Datuk Seri Nazir Razak admitted to conducting.
In light of the review, Nazir has voluntarily taken a leave of absence.
He said he had ensured it was not illegal and did not misuse his position at the bank.
"There is no other time my brother asked for this," he said at a briefing referring to a question if there were other transactions he made for his brother, Prime Minister Datuk Seri Najib Tun Razak.
In light of the review, Nazir has voluntarily taken a leave of absence.
He said he had ensured it was not illegal and did not misuse his position at the bank.
"There is no other time my brother asked for this," he said at a briefing referring to a question if there were other transactions he made for his brother, Prime Minister Datuk Seri Najib Tun Razak.
Nazir added the board will deliberate on the outcome of the review, and then decide whether he will maintain his position as chairman.
Shareholders have however reelected him as chairman during the group's AGM earlier today.
He added the bank is continually in contact with Bank Negara on all matters, including this.
The review, which will be done with assistance from independent accounting firm Ernst & Young, is expected to complete in a few weeks time.
Shareholders have however reelected him as chairman during the group's AGM earlier today.
He added the bank is continually in contact with Bank Negara on all matters, including this.
The review, which will be done with assistance from independent accounting firm Ernst & Young, is expected to complete in a few weeks time.
