MACC: No elements of graft in Bank Rakyat’s loan to businessman

(Bernama) – The Malaysian Anti-Corruption Commission (MACC) found no elements of corruption in Bank Rakyat’s RM32 million interest free loan to a businessman.

MACC in a statement today said initial investigations found it was more a bank governance issue.

“However, the commission will take appropriate follow up action including calling the relevant parties if we receive new information,” the statement said.

A news portal recently quoted the bank’s former chairman Tan Sri Sabbaruddin Chik, as claiming the businessman sought the intervention of a politician to get the loan.

The commission, however, pointed out that not all complaints or allegations reported by the media or raised by any party is corruption.

“The MACC Act 2009 only provides provisions for investigating cases with elements of corruption.

“In this regard, the commission hopes this case is also investigated by other related agencies under the relevant laws so that action can be taken against a certain party because of failure to comply with regulations,” the statement said.