Kuwait MP set to grill finance minister over fund corruption

The corruption case involves a Malaysian Fund and a Chinese company

Abu Dhabi: Kuwait’s MP Riyadh Al Adsani has vowed to reveal any details related to the Malaysian Fund in his question put up to Finance Minister Barak Al Shaitan, Kuwaii media reported.

Al Adsani affirmed that he has documents about the size of huge amounts involved in the alleged corruption, blatant excesses, financial suspicions, transfers and money laundering involving companies, individuals and banks in Kuwait.

Al Adsani pointed out that financial transgressions in this file cannot go unnoticed, but all relevant authorities must be held accountable.

He said, “There are financial irregularities, transgressions and flagrant abuses that have a direct and indirect relationship with partners and companies based in Kuwait, related to projects marred by suspicions of corruption,

The member of the House affirmed accountability is required, especially in huge financial cases, such a suspicious case in which influence was exploited, and this matter is not acceptable by all means.

Last week, Kuwait’s Cabinet said it was reviewing media reports of alleged “direct or indirect” transactional links between Kuwait-based companies or government bodies, a Chinese company and the former Malaysian government on an overseas project “marred by suspicions of corruption,” Kuwait News Agency reported.

Prime Minister Sheikh Sabah Khaled Al Hamad Al Sabah is committed to tackling all forms of corruption in compliance with the directives of Highness the Amir Shaikh Sabah Al Ahmad Al Jaber Al Sabah, government spokesperson Tariq Al Mezrem said.

It decided to entrust the State Audit Bureau with examining and reviewing the reports to clarify whether there was any embezzlement of public funds or undermining of the interests of any Kuwaiti government body in these transactions.

Also, the Financial Investigation Unit will be tasked with carrying out what it deems necessary to obtain the necessary information from relevant authorities and state bodies to ascertain the presence of money laundering in the transactions, and refer the matter to the Public Prosecution.

The 1Malaysia Development Berhad scandal or 1MDB scandal is an ongoing political scandal in Malaysia. In 2015, Malaysia’s then-Prime Minister Najib Razak was accused of channelling over RM 2.67 billion ($700 million) from 1Malaysia Development Berhad (1MDB), a government-run strategic development company, to his personal bank accounts. The event triggered widespread criticism among Malaysians, with many calling for Najib Razak’s resignation – including Dr Mahathir Mohamad, one of Najib’s predecessors as Prime Minister, who eventually defeated Najib to return to power after the 2018 general election.

After the 2018 election, Prime Minister, Mahathir Mohamad, said there was enough evidence to reopen a probe into the 1MDB scandal. In the months after the election, Malaysian authorities barred Najib Razak from leaving the country, seized a huge haul of cash and valuable items from premises linked to him, and charged him with criminal breach of trust, money laundering and abuse of power.