Retiring Zeti hopes for closure on 1MDB with administrative action

Kuala Lumpur

BANK Negara Malaysia's (BNM) decision to take administrative action against 1MDB for breaches of the Financial Services Act (FSA) requires the endorsement of Attorney-General Mohd Apandi Ali, says central bank governor Zeti Akhtar Aziz - whose top priority in the 38 days remaining in her tenure is to get some closure on the controversial state-owned development fund.

At the tail end of her time, Dr Zeti stressed on Wednesday that rules and regulations had to be complied with by everyone - "regardless of who the shareholders are" - if the functioning of Malaysia's financial services is to be upheld and respected by all.