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t. e. 1Malaysia Development Berhad ( 1MDB; Malay: [ˈsatu maˈlajʃa dɛˈvɛlɔpmɛn (t) bərˈɦad]) is an insolvent [1] Malaysian strategic development company, wholly owned by the Minister of Finance (Incorporated). [2] [3] In 2015, the company became the subject of a major international corruption scandal, with evidence pointing to money ...
t. e. The 1Malaysia Development Berhad scandal, often referred to as the 1MDB scandal or just 1MDB, is an ongoing corruption, bribery and money laundering conspiracy in which the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB) was systematically embezzled, with assets diverted globally by the perpetrators of the scheme. [1]
The 1Malaysia Development Berhad scandal is an ongoing political scandal in Malaysia, in which then-Prime Minister Najib Razak was accused of channeling over RM 2.67 billion (approximately US$700 million) into his personal bank accounts from 1Malaysia Development Berhad (1MDB), a government-run strategic development company.
1Malaysia. 1Malaysia (pronounced One Malaysia in English and Satu Malaysia in Malay) was a political slogan coined by Malaysian former Prime Minister Najib Razak in 2009, with the stated goal of promoting ethnic harmony, national unity, and efficient governance. [1] However, it quickly became embroiled in controversy.
Retirement Fund (Incorporated) (Malay: Kumpulan Wang Persaraan (Diperbadankan); KWAP) is a statutory body which manages the pension scheme for Malaysia's public employees. KWAP is the investment manager of the Retirement Fund, which is applied towards financing the government's pension liability, and is responsible for the administration and ...
The Armed Forces Fund Board [2] (also commonly known by its Malay name Lembaga Tabung Angkatan Tentera and LTAT in short) is a statutory body which manages the pension fund for certain members of the Malaysian Armed Forces. LTAT was established in August 1972 by the Armed Forces Fund Act (also known as the Tabung Angkatan Tentera Act). [1]
The Central Bank of Malaysia (BNM; Malay: Bank Negara Malaysia) is the Malaysian central bank.Established on 26 January 1959 as the Central Bank of Malaya (Bank Negara Tanah Melayu), its main purpose is to issue currency, act as the banker and advisor to the government of Malaysia, and to regulate the country's financial institutions, credit system and monetary policy.
The federal budget is a major state financial plan for the fiscal year, which has the force of law after its approval by the Malaysian parliament and signed into law by the Yang di-Pertuan Agong . Revenue estimates detailed in the budget are raised through the Malaysian taxation system, with government spending representing a sizeable ...