G25: Bank Negara can take civil action against 1MDB

MALAYSIA - The central bank on May 7 became the first in Southeast Asia to cut its key interest rate this year, by 25 basis points to 3.0%, moving to support its economy at a time of concern about global growth.

G25 said although decision on a criminal action could only be made by the AGC, the action it is suggesting is that Bank Negara proceed with civil action for non-compliance with the bank’s direction and "ask the court for any of the orders under the act."

Should 1MDB fail to comply with the court order, Bank Negara would be able to institute contempt proceedings against 1MDB, G25 said.