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Malaysia's central bank fines troubled state fund 1MDB

Reuters

(Adds 1MDB comment)

KUALA LUMPUR, April 28 (Reuters) - Malaysia's Central Bank said on Wednesday that it has fined troubled state fund 1Malaysia Development Berhad (1MDB) for failing to comply with bank rules.

It did not specify the amount.

Bank Negara Malaysia also said 1MDB had to repatriate funds remitted abroad after the central bank revoked three permissions it had granted for the fund transfers.

The statement said 1MDB failed to submit evidence to justify its inability to comply with the repatriation order, and has until May 30 to pay the fine which would mark the end of central bank's investigations.

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Central bank governor Zeti Akhtar Aziz said in March that it would pursue administrative action on 1MDB, after it missed a deadline to submit documents on its finances abroad.

In response to the central bank order, 1MDB said it would make the payment on or before the due date. (Reporting by Emily Chow; Editing by Praveen Menon and Nick Macfie)