KUALA LUMPUR: Bank Negara Malaysia (BNM) said on Thursday (Feb 24) that all investments abroad by resident entities are subject to the requirements under the Exchange Control Act (ECA) 1953 that was in force prior to 2013, which has since been replaced by the Financial Services Act (FSA) 2013.
It was referring to the witness testimony in an ongoing trial in New York, United States, relating to the approval given by the central bank for 1Malaysia Development Bhd (1MDB) to invest abroad in 2009.
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