Hottest Online News Portal

No Discussions Held On The 1990s Forex Scandal

in Latest

PUTRAJAYA – Former Bank Negara Malaysia (BNM) advisor Tan Sri Nor Mohamed Yakcop revealed that no discussions were held between the then Prime Minister and Finance Ministers on the 1990s foreign exchange (forex) scandal.

“I never discuss about the forex trading conducted by BNM from 1986 to 1993 neither with the then Prime Minister Tun Dr Mahathir Mohamad nor Finance Ministers Tun Daim Zainuddin and Datuk Seri Anwar Ibrahim,” he said while testifying at the Royal Commission of Inquiry (RCI) today.

Daim helmed the position of Finance Minister from 1986 to 1991 before Anwar succeeded him and held the position until 1998.

Nor Mohamed also said he could not remember about the profit and loss from the forex trading from 1986 to 1993.

“I also cannot remember the limit for the forex trading set to me as the advisor for BNM,” he said.

Nor Mohamed was the 17th witness to be called up in the ongoing RCI probe into the forex trading losses of some RM31 billion in the 1990s.

The proceedings chaired by Petronas chairman Tan Sri Mohd Sidek Hassan have been given a timeline to be completed and a report has to be submitted to the Yang di-Pertuan Agong on Oct 13.

The other RCI panel members are High Court judge Datuk Wira Kamaludin Md Said, Bursa Malaysia Bhd chief executive officer Datuk Seri Tajuddin Atan, Special Task Force to Facilitate Business (Pemudah) co-chairman Tan Sri Saw Choo Boon, Malaysian Institute of Accountants member K. Pushpanathan and the Finance Ministry’s Strategic Investment Division director Datuk Dr Yusof Ismail, who is also the commission’s secretary. – NST


Latest from Latest

Go to Top