KUALA LUMPUR (Oct 9): Bank Negara Malaysia (BNM) said it has revoked three permissions granted to troubled strategic investment company 1Malaysia Development Bhd (1MDB) for its investments abroad totalling US$1.83 billion, as the permissions were obtained based on inaccurate or without complete disclosure of material information.

In a statement today, BNM said the revocation is done under the Exchange Control Act 1953 (ECA).

The central bank added that it had also issued a direction under the Financial Services Act 2013 to 1MDB to repatriate the US$1.83 billion to Malaysia and submit a plan to the bank for this purpose.

On the Attorney-General's Chambers' decision yesterday, which cleared 1MDB of committing any offence related to false disclosure despite BNM's appeal to review the case, the central bank said: "It is to be noted that under the Federal Constitution, the decision to initiate criminal prosecution lies solely with the Attorney General."

"The Attorney-General's decision with respect to the investigations on 1MDB relates to BNM's recommendation to initiate criminal prosecution against 1MDB for breaches under the ECA.

"As an investigative authority, the bank is duty bound to conduct its investigations with the highest professional care and diligence. The bank at all times expects full and accurate disclosure of information by applicants in considering any application under the ECA," said BNM.

"On its part, the bank concluded that permissions required under the ECA for 1MDB's investments abroad were obtained based on inaccurate or without complete disclosure of material information relevant to the Bank's assessment of 1MDB's applications," it added.

The central bank went on to say that it will continue to extend its full cooperation to ongoing investigations by the Royal Malaysia Police and the Malaysia Anti-Corruption Commission.