Bank Bumiputra Malaysia Berhad
Wikipedia ↗Chapters that mention this person or place (2)
Bumiputra Finance Scandal (BMF): The Money Lost in Hong Kong
Only after a bank employee was murdered did Malaysia clearly see the black hole in BMF's ledgers
In July 1983, Jalil Ibrahim was murdered in Hong Kong. Beside the murder case were the massive loans granted by BMF to real estate groups like Carrian, and a regulatory mechanism that had long been dysfunctional. The money could be replenished, but was accountability pursued to the very end?
What Was Malaysia Co-operative Crisis?
The passbooks clearly showed money, yet over 520,000 accounts had to wait for the government to decide their actual worth
In 1986, 24 deposit-taking co-operatives were frozen, entangling about 520,000 deposit accounts and RM1.5 billion in a crisis. How did high interest rates, connected lending, and regulatory gaps turn the savings of ordinary people into promises that took years to redeem?