1MDB scandal a result of abuse of late father's policies: Nazir Razak

Bank Pembanguna chairman Nazir Razak, the younger brother of former Malaysian PM Najib Razak, echoes critics who say the system of pro-Bumiputera quotas is riddled with corruption. PHOTO: WHITEFOX PUBLISHING
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KUALA LUMPUR - Former CIMB chief executive and chairman Nazir Razak hopes his brother, Malaysia's former premier Najib Razak, can prove his innocence in the 1MDB scandal, a theft of billions of taxpayer dollars which the banker says was due to abuses of the system left behind by their father Razak Hussein, who led the country in the 1970s.

In his autobiography released on Monday (Nov 8), Datuk Seri Nazir echoes critics who say the system of pro-Bumiputera quotas in awarding contracts, licences and senior positions is now riddled by corruption.

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