“Why does the government need RM2 billion? It’s because the government wants to buy over the 106-storey building,” the PPBM chairman said at the launch of the party’s Setiawangsa division tonight.

The Exchange 106 is part of the Tun Razak Exchange (TRX) project, and is being developed by Indonesia’s Mulia Group.

The company bought the land in 2015 for RM665 million, to build TRX’s signature tower, which when completed will replace the Petronas Twin Towers as the country’s tallest structure.

It was reported on Jan 4 that BNM had acquired 22.58ha of land from the government for RM2 billion, to locate its Global Islamic Finance University and the International Shariah Research Academy for Islamic Finance.

The land is located next to the bank’s training centre Sasana Kijang in Jalan Dato Onn.

Dr Mahathir said in the past, the government had readily allocated land for BNM’s expansion.

He said the government intended to use the RM2 billion from BNM to buy over the 106-storey building.