BNM forex panel fingers Dr Mahathir, Anwar

Amin Iskandar Amin Iskandar Updated 6 years ago · Published on 30 Nov 2017 1:00PM · 3 Comments

Former prime minister Dr Mahathir Mohamad arrives at the Palace of Justice in Putrajaya to testify at the inquiry into Bank Negara Malaysia’s forex trading losses, on September 7, 2017. – The Malaysian Insight file pic, November 30, 2017.

THE royal commission of inquiry (RCI) into the central bank’s forex scandal of the 1990s has recommended that police investigate Dr Mahathir Mohamad and Anwar Ibrahim for criminal breach of trust and fraud.

In its report tabled in Parliament today,  the RCI also urged the police to investigate the Bank Negara Malaysia (BNM) board of directors, the National Audit Office and Finance Ministry.

“From the facts that the inquiry has been able to obtain, it is our opinion that there is a basis for an official police investigation into the BNM board of directors, the National Audit Department, the finance minister and prime minister for criminal breach of trust and fraud in the performing of the speculative forex transactions and in hiding the losses from the Cabinet and Parliament,” the report said.

Former prime minister Dr Mahathir is chairman of Bersatu and of Pakatan Harapan, the opposition coalition made up of Bersatu, PKR, DAP, and Amanah. 

Former finance minister Anwar is the de facto leader of PH and PKR.

The two former rivals had joined forces to oust Prime Minister Najib Razak and Barisan Nasional (BN) in GE14.

Putrajaya presented the findings of the RCI in Parliament today.

Although it is not in the Rules of the Meeting, copies of the 400-page RCI report in Malay and English were placed on the MPs’ desks.

Sources told The Malaysian Insight that Dr Mahathir had been linked to BNM’s forex trading losses estimated at RM30 billion.

The report was presented to the Yang di Pertuan Agong Sultan Muhammad V by the RCI panel, comprising Mohd Sidek Hassan Md Said, Tajuddin Atan, Saw Choo Soon, and P. Kanagarayar, on October 13.

The RCI was set up to verify allegations of massive foreign currency trading losses BNM incurred in the 1990s.

The RCI will also determine whether there was an attempt to conceal  the losses, including the giving of statements by senior officials to fool the Cabinet, Parliament and the public.

Forty-two documents were submitted during proceedings. Twenty-five witnesses,- including Dr Mahathir, Anwar, and former finance minister Daim Zainuddin, testified during the eight days of hearing.

Former central bank adviser  Nor Mohamed Yakcop was also summoned to give a statement.

Today is the last day of the last Dewan Rakyat session for the year. – November 30, 2017.

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Comments

  • The Rakyat in malaysia knows who is right and who is wrong in the Forex Scandal. Right now it is not a priority to be a national issues. It is a priority only for Umno especially Najib. ------------- BUT it is a blessing as the noise level is a true indicator and in tandem to the rising fear in UmnoBN on the old fox in his role of PH. Najib is in a "Catch 22" situation. He can't move forward without ridding off the old fox bad breath behind him and if he does something drastic to the old fox he himself is the cause of his own total destruction. Big nightmare!!!

    Posted 6 years ago by Lee Lee · Reply

  • Dulu Mahatir & Anwar - good & halal. Now Mahatir & Anwar - bad and haram. This is like the story in Animal Farm - Four legs Good Two legs bad. Then it change to Four Legs Good - Two Legs better. This war is between the Malay political elite - focusing on power & looting. While this 2 elephants fight - we the majority Sang Kanchil is being trampled. Our dilemma is there is very few quality leaders from the existing Malay political party.

    Posted 6 years ago by Chris Ng · Reply

  • CLEARLY its all about writing material for loudspeaking during coming-soon GE. THIS is how Najib think the rakyat and Malays - to be manipulated when he HIMSELF IS GUILTY PARTY IN IT.. The people do not have the voice to shout out back at him as he shove crap down their throat.

    Posted 6 years ago by Bigjoe Lam · Reply