Bank Negara Malaysia is validating 1MDB’s statement, which claimed it was unable to repatriate US$1.83 billion (about RM7.5 billion at the current exchange rate) as the money had been utilised, said its governor Zeti Akhtar Aziz.

"1MDB has publicly stated the fund (US$1.83 billion) for the redemption of the offshore investment has been utilised and also earmarked for asset work for part of its rationalisation plan.

"Bank Negara Malaysia is validating this (statement) now and would take into account any firm commitment made by 1MDB under its rationalisation plan, which would contribute toward reducing its debt burden ," she said at a press conference.

According to her, it is important to achieve a swift resolution to 1MDB’s financial position and ensure that it can continue to meet its outstanding debts.

She, however, cannot say how soon the validating process can be done.

The central bank revoked three permissions it granted to 1MDB under the Exchange Control Act 1953 for investments abroad totalling US$1.83 billion.

In a statement, the central bank said that it had also issued a directive under the Financial Services Act 2013 to 1MDB to repatriate the amount of US$1.83 billion to Malaysia.

However, 1MDB said the money has either been spent or earmarked for a debt transfer, indicating that it would not be able to repatriate.

On the way forward, she said, the central bank will consider all options, including bringing 1MDB to a civil court, without passing through the Attorney-General’s Chambers if the state-owned fund had contravened financial rules and regulations.

G25, the group of eminent Malays has suggested the central bank uses the civil court on 1MDB, a legal action which is not dependent on the public prosecutor.

The group said Bank Negara can do this under Section 239 of the Financial Services Act if 1MDB refused to comply to its order to repatriate the fund from overseas.