KUALA LUMPUR, March 9 — The Money Business Services Act, which will enable Bank Negara Malaysia to address the outflow of funds from the country, is due to be tabled in Parliament mid-year, says Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz.

Since early 2000, Bank Negara has put in place measures to address the outflow of funds, such as anti-money laundering legislation, measures to regulate moneychangers and imposing a cap on money taken out of the country.

In January, Global Financial Integrity reported that illicit financial outflows from Malaysia totalled US$291 billion (RM888 billion) between 2000 and 2009.  

Asked about investigations into the current outflow of funds, Zeti said the central bank would issue a statement after looking at the “numbers and making assessments on various areas”.

The governor was speaking to reporters after Prime Minister Datuk Seri Najib Razak attended a briefing at the central bank here today.

On China Construction Bank’s keen interest to acquire a stake in EON Capital Bhd, Zeti said any interest expressed has to be on a “willing buyer, willing seller” basis.

“We have liberalised (the banking sector) and they are free to come in and make a request. We will look at whether they (both the domestic and the foreign party) have the capability,” she added.

On whether Australia & New Zealand Banking Group (ANZ) submitted their application to raise its stake in AMMB Holdings Bhd, Zeti said: “No, they haven’t. We have no idea what the foreign parties interest are.”

ANZ was allowed to raise its stake in AMMB to 49 per cent, well above the current 30 per cent cap on foreign ownership in local banks, subject to Bank Negara approval. — Bernama