The Entrepreneur Development Ministry announced the removal of Tan Sri Shukry Mohd Salleh as chairman of Bank Rakyat's board of directors with immediate effect due to his involvement in the original audit report of 1Malaysia Development Bhd (1MDB).

In a statement issued today, the ministry said Shukry's termination was in line with with Section 5 and subparagraph 2(2) of the First Schedule of the Bank Kerjasama Rakyat Malaysia Berhad Act (Special Provisions) 1978 (Act 202).

“Following this, any decisions made during his tenure as Bank Rakyat’s chairman and which has an implication on Bank Rakyat, will be reviewed and cancelled if it affects the interest of the bank.”
The ministry also said it will announce the appointment of a new chairman upon finalisation of the appointment process.

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