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After 1MDB scandal, investors view Indonesia's new fund warily | Business and Economy News

Indonesia will need to step out of the shadows of neighboring Malaysia’s 1MDB scandal to convince investors that its new wealth fund won’t fall prey to corruption.
Nusantara Investment Authority will take lessons from other sovereign wealth funds and adopt a framework based on independence, transparency and accountability, said Isa Rachmatarwata, the finance ministry’s director general of state assets. It needs to assure potential investors that governance protocols are airtight when it starts operations in the second half of 2021, as the fallout from the 1MDB scandal has heightened scrutiny on emerging-market wealth funds.
“The region has had a bad name after 1MDB and people will think of that how a similarly well-intended fund can go so wrong,” said Bank of America Securities economist Mohamed Faiz Nagutha. While Indonesia’s fund has attracted $6 billion of pledges from the Japan Bank for International Cooperation and the U.S. International Development Fina ....

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1MDB scandal casts pall over Indonesia's wealth fund ambitions

The Straits Times
1MDB scandal casts pall over Indonesia s wealth fund ambitions
Indonesia seeks to raise $21 billion by offering global and local investors the chance to put their money in Nusantara Investment Authority s sub-funds.PHOTO: AFP
PublishedDec 15, 2020, 3:56 pm SGT
https://str.sg/Ja8L
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United States , Jawa Barat , Danang Widoyoko , Joko Widodo , Isa Rachmatarwata , Mohamed Faiz Nagutha , Japan Bank , Maybank Kim Eng Research , Corruption Eradication Commission , Nusantara Investment Authority , International Cooperation , Us International Development Finance Corp , Transparency International , Transparency International Indonesia , Investment Authority , America Securities , Mohamed Faiz , Development Finance Corp , Southeast Asia , President Joko Widodo , Chua Hak Bin , Maybank Kim Eng , Perceptions Index , Supreme Audit Board , ஒன்றுபட்டது மாநிலங்களில் , ஜவ பாரத் ,