Former Malaysian PM Najib resigns as chairman of Khazanah Nasional

Former Malaysian PM Najib resigns as chairman of Khazanah Nasional

Malaysia's former prime minister Najib Razak attending Friday prayers
Malaysia's former prime minister Najib Razak attending Friday prayers. (Photo: AFP/Mohd Rasfan) 

KUALA LUMPUR: Malaysia's former Prime Minister Najib Razak has resigned as chairman of Khazanah Nasional with immediate effect, announced the sovereign wealth fund on Thursday (May 31). 

In a statement on its website, Khazanah said that Johari Ghani and Irwan Serigar have also stepped down as board members, effective May 30 and May 23, respectively. 

Johari was formerly the Second Finance Minister, while Irwan held the post of Treasury Secretary-General.

Last week Reuters reported that Najib's government had used money raised from a deal with Khazanah to pay for some of the liabilities of state fund 1MDB. 

Khazanah paid the government RM1.2 billion (US$301.05 million) in mid-2017 in exchange for redeemable shares that the finance ministry owned, Reuters cited sources as saying, adding that the funds were used to pay some of 1MDB's dues to Abu Dhabi fund IPIC.

Source: Bernama/CNA/ad(aj)

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