Usually ministers... don't get directly involve in transactions like this... but in the case of 1MDB... Prime Minister Najib is seen as a very key player in setting up and running the organisation.

Wan Saiful Wan Jan, Chief Executive of the Institute for Democracy and Economic Affairs

The Wall Street Journal has reported that nearly $700m from sovereign wealth fund 1Malaysia Development (1MDB) has been deposited into the personal bank account of Prime Minister Najib Razak.

The Prime Minister has denied any wrongdoing and says they are the work of political opponents set on unseating him.

But with 1MDB sinking under a debts of $11.6bn, credit ratings agency Fitch has threatened to slash the debt rating for the whole of Malaysia, not just the fund.

Wan Saiful Wan Jan, the chief executive of the Institute for Democracy and Economic Affairs, joins Counting the Cost to discuss the scandal and why there are calls for Prime Minister Najab Razak to resign over it.

Source: Al Jazeera