Monday 03, September 2018 by William Mullally

Malaysian finance minister cleared of corruption charges

Lim was named finance minister in May. 

Bernama, Malaysia's state news agency, has reporte that A Malaysian court has acquitted the Finance Minister of Malaysia, Lim Guan Eng, of corruption charges.

The charges were first made in 2016, when he was accused of abusing his position by securing real estate for lower than its market price, according to Reuters. Lim was named finance minister in May. 

This is not the only corruption controversy this year in Malaysia. In May, Prime Minister Mahathir Mohamad announced the resignation of Malaysia’s central bank governor as questions swirled over the role the monetary authority played in a deal linked to scandal-plagued state fund 1MDB.

The governor of Malaysia’s central bank Bank Negara Malaysia resigned, the Prime Minister of Malaysia Mahathir Mohamad announced.

"The perception is that the purchase of the land was made to intentionally aid and abet the misappropriation of public funds pertaining to the corruption and scandal surrounding 1MDB. This is totally untrue. Bank Negara Malaysia will never be party to any such activities that would betray the public trust in us,” said Muhammad.

A statement from Bank Negara Malaysia read: "The Cabinet has today accepted Governor Muhammad bin Ibrahim’s offer to step down as the Governor of Bank Negara Malaysia. The announcement of the new Governor will be made upon the Royal Consent of the Yang di-Pertuan Agong. The Bank will also ensure a smooth transition in the handing over of duties to the new Governor. Governor Muhammad Ibrahim would like to thank the Government for the honour and privilege to serve the nation and the people of Malaysia."

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