Germany's Finance Ministry has ordered an investigation into business
relations between the family of Sarawak Chief Minister Abdul Taib Mahmud
and Deutsche Bank, for any element of money-laundering.
Swiss-based NGO Bruno Manser Fund (BMF), which has been calling for the investigation, said the ministry's order came in response to its complaint and the German Finance Ministry in a email reply stated it had 'requested the German Federal Financial Supervisory Authority to clarify and check the situation you outlined in your letter to the Federal Chancellor from the money-laundering angle, insofar as this concerns a specific financial institution and, if the Financial Supervisory Authority (BaFin) considers it appropriate, to instigate supervisory measures'.
The ministry added that the BaFin, the supervisory authority for financial institutions under Germany's money laundering legislation, 'has already made a start on clarifying the situation'.
In a statement issued today, BMF said that it welcomed the investigation and is calling on the German federal government to freeze any assets held by Taib (right) in that country. Also, it was demanding complete transparency from Deutsche Bank with regard to its dealings with the Taib family and the termination of its business relations with the Malaysian potentate, who had gained a bad reputation worldwide.
Swiss-based NGO Bruno Manser Fund (BMF), which has been calling for the investigation, said the ministry's order came in response to its complaint and the German Finance Ministry in a email reply stated it had 'requested the German Federal Financial Supervisory Authority to clarify and check the situation you outlined in your letter to the Federal Chancellor from the money-laundering angle, insofar as this concerns a specific financial institution and, if the Financial Supervisory Authority (BaFin) considers it appropriate, to instigate supervisory measures'.
The ministry added that the BaFin, the supervisory authority for financial institutions under Germany's money laundering legislation, 'has already made a start on clarifying the situation'.In a statement issued today, BMF said that it welcomed the investigation and is calling on the German federal government to freeze any assets held by Taib (right) in that country. Also, it was demanding complete transparency from Deutsche Bank with regard to its dealings with the Taib family and the termination of its business relations with the Malaysian potentate, who had gained a bad reputation worldwide.
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