Sabah bank working with MACC in graft probe


  • Nation
  • Saturday, 12 Mar 2016

KOTA KINABALU: Sabah Development Bank, whose senior officials are being questioned over graft allegations, said it is cooperating with the Malaysian Anti-Corruption Commission (MACC).

The state-owned bank’s board said in a statement that the staff, management and director were providing full information in the case.

Also, the statement confirmed that the bank’s chief executive officer (CEO) has given his statement to the MACC.

The CEO continues to perform his daily duties at the bank, it said.

The board assured all borrowers and stakeholders that the bank’s control processes were robust and of high standards, adding that it believed the matter being investigated should be resolved soon.

It also said that the bank’s operations were continuing as normal.

Two bank officers and a businessman (a former staff of the bank) were arrested in connection with investigations into an alleged bribe-for-loan racket after a customer lodged a report.

About RM8mil in 20 bank accounts held by an executive of the bank, his wife and a bank staff has been frozen by the MACC which had also seized two luxury vehicles.

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