Deutsche Bank Bhd's former managing director Jacqueline Ho, 51, testified that the bank received a remittance instruction on Sept 30, 2009, from 1MDB for the US$1bil to be split to two transactions - US$300mil into a J.P. Morgan SA account for 1MDB Petrosaudi Ltd and US$700mil into a RBS Coutts Bank Ltd account for PetroSaudi International Ltd.
However, in another email, Ho said Deutsche was instructed to not include the name of the beneficiaries in the remittance instructions. "In essence, we understood that Bank Negara had no objection to the transfer of US$300mil to 1MDB Petrosaudi’s account in J.P. Morgan and US$700mil to PSI's account in RBS Coutts and there was no issue from the perspective of Bank Negara’s foreign exchange control rules," she added.
However two days after the transfers, Deutsche received an enquiry from RBS Coutts for the bank to disclose the beneficiary name for account 11116073.
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