Bank Negara Malaysia (BNM) has concluded its investigation into 1MDB following payment of a Compound To Bank Negara,

KUALA LUMPUR: Bank Negara Malaysia (BNM) has concluded its investigation into 1Malaysia Development Bhd (1MDB) following the payment of a compound by the company, said its Governor Datuk Muhammad Ibrahim.

However, he stressed that the central bank would continue to cooperate on matters pertaining to 1MDB.

"1MDB paid the compound, and that concludes the investigation within Bank Negara Malaysia's rules and regulations and the law we administer," he told reporters on the sidelines of the 20th Malaysian Banking Summit here on Thursday.

It was reported on Wednesday that 1MDB has made full payment of an administrative compound that BNM had issued against the state investment firm for failing to comply with local financial rules.

Asked if BNM would reopen investigations on 1MDB in light of the Swiss authorities launching criminal proceedings against BSI Bank Ltd over money laundering allegations, Muhammad said there were other laws being administered by the relevant authorities.

On Tuesday, Swiss prosecutors announced that criminal investigations had been opened against one of the country's oldest banks, BSI, based on information revealed in criminal proceedings allegedly related to its dealings with a Malaysian development fund.

The Monetary Authority of Singapore (MAS) also served notice on BSI Bank to withdraw its status as a merchant bank for serious breaches of anti-money laundering requirements, poor management oversight of the bank's operations, and gross misconduct by some of the bank's staff. - Bernama