By KINIBIZ
Malaysia’s key institutions such as Bank Negara Malaysia (BNM) and Malaysian Anti-Corruption Commission (MACC) are facing critical issues of governance and independence that could threaten the country’s financial stability , according to a group of prominent Malays called G25.
“Today, as the country faces an unprecedented test of its governance at the highest level which unfortunately is cascading into an economic downturn and threatening financial stability, only by allowing its key institutions to undertake their functions independently can Malaysia hope to redeem itself and stall the contagion which is emerging from a governance issue into an economic and financial setback,” said G25 in a statement.
It highlighted several controversial turn of events in recent months that has gripped the nation, especially those related to investigations on 1Malaysia Development Bhd (1MDB) and the alleged transfer of RM2.6 billion of funds into the personal bank account of Prime Minister Najib Abdul Razak.
“An important aspect in any corrective action is to allow institutions to continue their work, even though results may not favour the government leadership. Key institutions in the limelight now and its senior officials being penalised for doing their jobs are the MACC and the nation’s Central Bank, BNM,” said G25.
The group says that attempts to raise doubts on integrity of the leadership in BNM and the transfer of the MACC officials erode public confidence that investigations will be thorough and objective.
“There is mistrust of the government and concerns that civil service and the office of the chief secretary will be undermined, and concerns of more civil servants being penalized for doing their jobs,” says G25.
G25 says that in the case of the MACC, the office of the Chief Secretary which governs and has oversight over the quality and performance of government agencies seems to also be under threat in recent transfers of MACC staff involved in investigations of transgressions within government.
The group has also recommended several corrective measures such as greater safeguards in the appointment and dismissal of the Attorney General (AG), reforms in legalising political contributions, declaration of assets by civil servants and prosecutorial powers for the MACC.
G25 is a group of former top civil servants, judges, ambassadors and scholars espousing a more moderate Malaysia.
The group’s spokesperson is former diplomat Noor Farida Ariffin. Its other members include former education director-general Dr Asiah Abu Samah, former Kuala Lumpur mayor Mazlan Ahmad, former high court judge Syed Ahmad Idid, chair of Parent Action Group for Education Noor Azimah Abdul Rahim, former dean of the Faculty of Medicine, Universiti Teknologi Mara Professor Khalid Yusoff and associate professor at International Islamic University Dr Normala Obid.
Click here to read the full statement by G25.
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