KUALA LUMPUR: The High Court heard today that Ambank, in 2011, had requested for Datuk Seri Najib Razak to sign an account mandate, as the bank could not get direct access to him for matters relating to his bank accounts.
This was revealed by former banker Joanna Yu Gin Ping, 51, when she was cross-examined by defence counsel Tan Sri Muhammad Shafee Abdullah this afternoon.
The mandate, she said, was a standardised document and she had obtained an empty form of the said mandate, and passed it to fugitive businessman Low Taek Jho (Jho Low), with faith that it would be given to Najib.
Yu said that she had learnt there was such a thing as called "accounts mandate", where the account holder could appoint an individual to authorise matters relating to the account, when the bank realised that confirmations needed to be made regarding the cheques and funds coming into Najib's accounts.
The document was later dispatched back to the bank, returned with details of former 1Malaysia Development Berhad (1MDB) chief investment officer Nik Faisal Nik Ariff as the authorised personnel for Najib's accounts, together with Najib's signature.
However, she agreed with Shafee's suggestion that despite having Nik Faisal as the authorised personnel for Najib's Ambank accounts, it did not allow him nor anyone else to negotiate on the exchange rate, in relation to foreign currency monies transferred to Najib's accounts.
Shafee: So when the banks want to do the exchange rate, the bank would technically have to call Najib, the account holder?
Yu: Yes, but we didn't have access to Najib.
Shafee: That is a different issue, but you would agree with me, in terms of banking etiquette, you would have to call Najib to get confirmation of the mandate?
Yu: Yes.
Shafee: The mandate that you have, thus far, shows that the bank did not have the authority to ask anybody else, because they do not have authority except Najib?
Yu: I would assume questions directed to Nik Faisal would flow from him to the account holder. Nik Faisal was appointed to manage the account, so when cheques were issued by the account holder, he could confirm with the account holder.
Shafee: These are not about the cheques! I'm asking you chicken, you give me a duck! Must give me in chicken format lah!
Najib, 69, is facing four charges of using his position to obtain bribes totalling RM2.3 billion from 11MDB funds and 21 charges of money laundering involving the same amount.
The trial before judge Datuk Collin Lawrence Sequerah continues.