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Sovereign fund repatriates billions from Cayman Islands

KUALA LUMPUR -- Bowing to pressure, Malaysian sovereign fund 1Malaysia Development Berhad (1MDB) said on Tuesday that it has fully repatriated $2.318 billion invested in a fund in the Cayman Islands under the regulatory supervision of the Cayman Monetary Authority.

     1MDB had been severely criticized lately by politicians on all sides and the domestic media for a lack of transparency in its business dealings.

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