Bank Negara Malaysia says 'extended comprehensive information' on land transaction to MACC

KUALA LUMPUR (May 24): Bank Negara Malaysia (pictured) said it has extended comprehensive information on the central bank's land transaction to the Malaysian Anti-Corruption Commission (MACC) for the MACC's complete and independent review.

In a statement today, Bank Negara said it initiated the purchase of the land for the development of a financial education hub. Bank Negara said it conducted the purchase as an arms-length transaction based on the land's fair value as determined by an independent private sector valuer.

"We refer to the recent international and domestic media coverage on the matter concerning a piece of land purchased by Bank Negara.

"The transaction complied with all the governance requirements and relevant laws that govern the bank. The bank shall continue to be transparent on this matter," Bank Negara said. — theedgemarkets.com

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