CM orders probe into mutual fund investments of Kerala Wakf Board

Pinarayi Vijayan. Photo: Biju Varghese/Mathrubhumi Archives

Kozhikode: Kerala chief minister Pinarayi Vijayan has ordered a probe into mutual fund investments by the Wakf Board during the 2018-22 period.

The investment is worth around Rs 24.89 cr. Financial Intelligence Unit will probe the matter.

The decision for mutual fund investment was taken at a meeting chaired by Muslim League leader Mayin Haji in April 2018. The Board's PF investment is assumed to have resulted in a loss after this.

The new CEO of the Board had withdrawn the investment from MF. The probe will look into alleged irregularities in the decision.

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