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Malaysian PM sacks deputy after graft scandal criticism

04:44 PM | 28 Jul, 2015
Malaysian PM sacks deputy after graft scandal criticism
KUALA LUMPUR (Web Desk) - Malaysian Prime Minister Najib Razak sacked his deputy and four other ministers in a cabinet reshuffle on Tuesday, and replaced the attorney general, in a bid to stifle questions over a graft scandal at debt-laden state investment fund 1MDB.

Deputy Prime Minister Muhyiddin Yassin was dropped days after he publicly called on Najib to explain the scandal engulfing 1Malaysia Development Bhd [TERRN.UL], which has debts of more than $11 billion and is being investigated for financial mismanagement and graft, the Reuters reported.

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The allegations of extensive graft are the biggest threat to Najib's credibility since he took office in 2009, and could even threaten the grip his United Malays National Organisation (UMNO) party has kept on Malaysian politics since independence in 1957.

"It would be fine if he was removing underperforming ministers, but now he's just removing those who questioned him," said political analyst Wan Saiful Wan Jan, of the Institute for Democracy and Economic Affairs.

"There's no doubt that he is unable to answer the questions surrounding 1MDB."

This month, the Wall Street Journal reported that investigators looking into 1MDB had traced close to $700 million of deposits into personal accounts belonging to Najib.

Najib has denied taking any money for personal gain, saying the corruption allegations are part of a malicious campaign to force him from office. 1MDB has denied transferring funds to Najib and an interim government report has found nothing suspicious.

Malaysians are waiting to see if Najib takes legal action against the Wall Street Journal, though he has taken action to shut down domestic media pursuing the scandal.

 

The author is working as Editor Digital Media for Daily Pakistan and can be reached @ItsSarfrazAli.

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Pakistani rupee rate against US Dollar, Euro, Pound, Riyal - Check 20 April forex rates

Pakistani currency remains marginally same against US Dollar and other currencies on April 20, 2024. US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro comes down to 293 for buying and 296 for selling while British Pound stands at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 20 April 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 293 296
UK Pound Sterling GBP 342.5 346
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.55 748.55
Canadian Dollar CAD 201 203
China Yuan CNY 38.47 38.87
Danish Krone DKK 39.78 40.18
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.11 912.11
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.61 25.91
Omani Riyal OMR 723.2 731.2
Qatari Riyal QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.47 307.97
Thai Bhat THB 7.56 7.71

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