I wanted Nor Mohamed sacked, says Anwar

FOREX RCI | Former finance minister Anwar Ibrahim today said that he wanted former Bank Negara Malaysia advisor Nor Mohamed Yakcop, sacked.

Testifying as the 21st witness before the Royal Commission of Inquiry tasked to probe the foreign exchange losses incurred by Bank Negara, Anwar recounted a meeting he had with the then Bank Negara governor Jaffar Hussein in 1994.

Based on Jaffar's explanation, Anwar said Nor Mohamed was found to have overstepped his boundaries following the forex losses.

"He did not report the true picture to him (Jaffar).

"I instructed that Nor Mohamed be sacked, if possible, by 4pm (on the day of the meeting).

"If he didn't resign, I would have sacked him".

Anwar, earlier, could not help but criticise the former Bank Negara advisor on the "lessons learned" from forex losses.

Nor Mohamed had said that the experience gleaned from the incident had helped the country in facing the Asian financial crisis.

"His assertions are absurd. You must be accountable.

"It doesn't have to cost the country billions to learn a lesson. He should go back to business school (to learn a lesson)," said Anwar.

Anwar said this when asked to comment on the matter by RCI member Saw Choo Boon.

Testifying before the RCI yesterday, Nor Mohamed said he accepted his fair share of accountability over the forex losses incurred in the late 1980s and early 1990s.

He had confirmed that he was responsible for Bank Negara's forex trading from 1986 until 1993. Nor Mohamed later resigned from his position in April 1994.

He had also confirmed that he never discussed the forex transactions in the years between 1986 and 1993 with both Anwar and then prime minister Dr Mahathir Mohamad. -Mkini