Saudis confirm money for Najib was “donation”

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Al JubeirSaudi Arabia’s foreign minister confirmed that a $681 million deposit in Malaysian Prime Minister Najib Razak’s private bank account was a donation originating from Saudi Arabia, according to Malaysian state media.

Najib has been facing allegations of graft after reports claimed that the money could have originated from troubled state fund 1Malaysia Development Berhad (1MDB). But Najib insisted that the funds were a “donation” from an initially unnamed donor. Later he said that he received the funds from Saudi Arabia.

The Saudis for a while did not react to the statement. But now, Saudi Foreign Minister Adel Al Jubeir was quoted by reporters of Malaysia’s state news agency Bernama as saying at a summit of the Organisation of Islamic Cooperation in Istanbul:

“We are aware of the donation and it is a genuine donation with nothing expected in return. We are also fully aware that the Attorney General of Malaysia has thoroughly investigated the matter and found no wrongdoing,”

“So, as far as we are concerned, the matter is closed,” Al Jubeir added. He was speaking to the Malaysian reporters after a meeting with Najib on the sidelines of the summit.

1MDB, whose advisory board is chaired by Najib, is under investigation for alleged graft and mismanagement. Last week, a Malaysian parliamentary inquiry slammed the board of 1MDB for being irresponsible and urged a probe into its former CEO, but stopped short of implicating the prime minister.

U.S., Australian, Singaporean and Swiss authorities are among those probing the case. As per latest news, Switzerland’s Attorney General announced on April 12th that the scope of their enquiries into 1MDB was widening beyond criminal investigations into two former officials at 1MDB. Now also a case has been opened on two former public officials from the United Arab Emirates related to a deal struck in 2012, in which IPIC, an Abu Dhabi state fund, agreed to guarantee bonds raised by 1MDB to purchase two power firms.

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Reading Time: 2 minutes

Saudi Arabia’s foreign minister confirmed that a $681 million deposit in Malaysian Prime Minister Najib Razak’s private bank account was a donation originating from Saudi Arabia, according to Malaysian state media.

Reading Time: 2 minutes

Al JubeirSaudi Arabia’s foreign minister confirmed that a $681 million deposit in Malaysian Prime Minister Najib Razak’s private bank account was a donation originating from Saudi Arabia, according to Malaysian state media.

Najib has been facing allegations of graft after reports claimed that the money could have originated from troubled state fund 1Malaysia Development Berhad (1MDB). But Najib insisted that the funds were a “donation” from an initially unnamed donor. Later he said that he received the funds from Saudi Arabia.

The Saudis for a while did not react to the statement. But now, Saudi Foreign Minister Adel Al Jubeir was quoted by reporters of Malaysia’s state news agency Bernama as saying at a summit of the Organisation of Islamic Cooperation in Istanbul:

“We are aware of the donation and it is a genuine donation with nothing expected in return. We are also fully aware that the Attorney General of Malaysia has thoroughly investigated the matter and found no wrongdoing,”

“So, as far as we are concerned, the matter is closed,” Al Jubeir added. He was speaking to the Malaysian reporters after a meeting with Najib on the sidelines of the summit.

1MDB, whose advisory board is chaired by Najib, is under investigation for alleged graft and mismanagement. Last week, a Malaysian parliamentary inquiry slammed the board of 1MDB for being irresponsible and urged a probe into its former CEO, but stopped short of implicating the prime minister.

U.S., Australian, Singaporean and Swiss authorities are among those probing the case. As per latest news, Switzerland’s Attorney General announced on April 12th that the scope of their enquiries into 1MDB was widening beyond criminal investigations into two former officials at 1MDB. Now also a case has been opened on two former public officials from the United Arab Emirates related to a deal struck in 2012, in which IPIC, an Abu Dhabi state fund, agreed to guarantee bonds raised by 1MDB to purchase two power firms.

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