The news that Switzerland has now kicked off a probe into banks linked to 1MDB scandal has caught the attention of the Gulf Times.
In the 1MDB case, the whereabouts of $1.8bn of its funds are unknown. A probe found that around $680mn made their way on a private bank account of Malaysia Prime Minister Najib Razak, who denied any wrongdoing and claimed that the money was a “donor” from Saudi Arabia, meant as of appreciation to Malaysia for “championing Islam” and fighting militant group ISIS.
However, unease is growing in the Middle East over the issue. The Saudi government is reportedly not amused about making in into the headlines in the 1MDB case, and at Falcon Private Bank’s parent, Aabar Investment, which is a subsidiary of Abu Dhabi-government-owned International Petroleum Investment Company, two top executives, Chairman Khadem al Qubassi and CEO Mohamed al Husseiny, have been shown the door.
It is about time that Najib reveals the identity of the mysterious “donor” before causing unnecessary embarrassment (by association) to anyone else.