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Switzerland faces law change call to return 1MDB profits to Malaysia

Reuters  |  BERN 

By Michael ShieldsBERN (Reuters) - Swiss lawmakers are pushing the government to amend the law on how to handle ill-gotten bank profits seized by authorities and pave the way to return more than $100 million linked to scandal-hit sovereign fund 1MDB to the Malaysian people.Although the Swiss government opposes the call, saying it has no legal powers to repatriate the funds that will otherwise flow into the Swiss budget, it has not shut the door entirely."Switzerland's international reputation is at stake if it ignores the justified demands from Malaysia," said Carlo Sommaruga, a member of ...

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First Published: Wed, March 14 2018. 13:33 IST