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Saturday, July 4, 2015

Bank Negara Malaysia, Ambank and Affin (Islamic, UnIslamic, Private, Not So Private etc) Please Confirm The Denial



I was in Perak this morning when this news broke. The guys have already denied everything. 

There is some circular stuff too. I dont wish to belabour you with what has been reported in the Wall Street Journal, by Reuters, Sarawak Report and I believe by dozens of other foreign media soon.

(New Straits Times, Utusan, Star etc will be trying on three layers of protection tonite - they wont feel anything.) 


If there is any truth at all to all the exposes by the Wall Street Journal and Reuters it should be earthshaking. 

The Wall Street Journal and Reuters are not gossipy tabloids. They are serious media organisations who depend a lot on the integrity of the news that they carry.

And

It  is not legal for banks to divulge any information about a client's account. This is the standard rule for banks in Malaysia and I believe throughout the world. 

It is called banker / client confidentiality (or similar). I think we all get the meaning. 

However it is not breaking any rules or breaking any laws for any bank to confirm :

the non existence of any account
the non existence of an account holder or 
the non existence of a transaction that did not happen.

For example if the Wall Street Journal report saying that 

"on xx March 2015, RM3.0 Billion was transferred into account number 123456789111213  belonging to Rumplestiltskin at Bank Guatipulu"

 was  found to be totally untrue, then Bank Guatipulu should have no problem confirming this untrue statement.  

Because there was no such account number at the Bank Guatipulu  belonging to a Rumplestiltskin and there was no transaction of such amounts of money either.  

Hence a simple confirmation by Bank Guatipulu that the Wall Street Journal's report was untrue would be in good order.

This is what we need from Ambank and Affin Bank  (whether Islamic, UnIslamic, Private, Not So Private etc).  Their good names and their good standing have been implicated in a massive allegation of ...of... (lawyers can you help out here?) by the Wall Street Journal, by Reuters and last but not least by Sarawak Report.

And of course our mother who is closer to god at the Bank Negara Malaysia should do the same as well.

There is no banker / client confidentiality at stake here because these accounts, in those names and the alleged transactions simply did not exist.

So I hope the banks involved will quickly confirm the denials.  

I hope the media have already called these banks and Bank Negara Malaysia to confirm the denial.  

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