Najib’s EPF investment in US breaches his own ministry’s rules

PKR vice-president Rafizi Ramli says that Prime Minister Najib Abdul Razak’s announcement that the Employees’ Provident Fund (EPF) would increase its US investments, goes against his own ministry’s limitations.

“What he (Najib) does not realise is that his announcement goes against the rules set by the Finance Ministry, which limits EPF’s foreign investment to only 30 percent of its total investments,” said Rafizi in a statement today.

He said according to EPF’s chief executive officer (CEO) Shahril Ridza Ridzuan in a Feb 2017 interview, EPF has nearly reached its maximum limit of 30 percent foreign investment.

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