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Wednesday, July 19, 2017

Forex RCI: Anwar pledges cooperation but won't be a tool

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PKR de facto leader Anwar Ibrahim has promised to give his full cooperation to the Royal Commission of Inquiry (RCI) into Bank Negara’s foreign exchange (forex) losses.
He, however, warned that he shall not be used as a "political tool" in the matter.
“As finance minister who alleviated the problem and as the one who accepted the resignations of the officers responsible in the matter – Nor Mohamed Yakcop and Bank Negara governor at that time Jaafar Hussein – I will give my full cooperation to the RCI. 
“However, I would like to remind against turning this into a 'political bogeyman' to attack certain enemies, especially (former premier) Dr Mahathir Mohamad.
“I will provide all facts in a transparent manner but I won’t be dragged (and) used as a political tool,” Anwar said in a statement today.
His statement comes after the government yesterday announced the composition of the RCI, which, among others, will recommend the appropriate action to be taken against those found to be directly or indirectly involved.
The RCI has been given a three-month time frame to complete its task and submit a report to the Yang di-Pertuan Agong.
The six-member team would be headed by the former chief secretary to the government Mohd Sidek Hassan.
The RCI would determine the veracity of the allegation surrounding the forex losses incurred by Bank Negara and its implications on the national economy.

Apart from this, it would determine if the involvement of Bank Negara in forex activities which resulted in losses contravened the Central Bank Ordinance 1958 or other related laws.
The RCI would also determine if there were elements to conceal facts and information regarding this as well as the issuance of statements which misled the cabinet, Parliament, and public.
The forex scandal occurred during the 1980s when Mahathir was prime minister, prompting certain quarters to accuse Prime Minister Najib Abdul Razak of attempting to exact political revenge against his nemesis. - Mkini

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