Malaysia’s sovereign wealth fund announced changes to its board of directors including the departure of its chairman, the country's former leader.
The former Malaysian prime minister Najib Razak together with two other board members stepped down from their positions at sovereign wealth fund Khazanah Nasional, according to a statement from the government investment fund.
Khazanah Nasional is the strategic investment fund of the Malaysian government, it is responsible for holding and managing the collective assets of the government and to undertake strategic investments. Najib, as well as former finance minister Johari Abdul Ghani and ex treasury secretary-general Irwan Serigar Abdullah have surrendered their positions.
Accusations Mount
Among a growing list of accusations aimed at the previous administration are claims that Najib's government had used money raised from a deal with Khazanah Nasional to pay for some 1MDB liabilities as news agency «Reuters» recently reported.
Authorities in Malaysia have wasted no time in probing tainted wealth fund 1MDB. A special taskforce has been formed to scrutinize the controversial investment vehicle. Malaysia’s anti-corruption commission also called on the former Malaysian prime minister to give a statement about the tarnished wealth fund.
