Forex loss rci

Forex loss rci

01/01/ · In November, he resigned from Khazanah following the RCI findings. Dr Mahathir told the RCI panel that he was only aware of losses amounting to RM billion and not RM billion. He denied knowledge of Jaffar’s decision to engage in active forex 28/08/ · TWENTY-FIVE years on, Malaysia is still grappling with the foreign-exchange (forex) losses chalked up by Bank Negara between and The highlights after the first week of the hearing by a Royal Commission of Inquiry (RCI) set up to unearth the ghost of the past were the quantum of losses, and the aspersion that there was a deliberate suppression of information and an attempt to 21/07/ · TWENTY-FIVE years on, Malaysia is still grappling with the foreign-exchange (forex) losses chalked up by Bank Negara between and The highlights after the first week of

What is the purpose of the RCI in forex losses? | Malaysia Global Business Forum

In the future, five or 10 years from now, it will crop up again. KUALA LUMPUR: A Royal Commission of Inquiry RCI could help reveal more details on the foreign exchange losses suffered by Bank Negara Malaysia in the s and s, which are far more than what have been disclosed, said Tan Sri Mohd Sidek Hassan. However, the STF was unable to scrutinise further due to the limitations that it had, he said in an interview with selected media yesterday.

We were established on an administrative basis and not under any legislation. And even if they came and we questioned them, and they refused to answer we cannot do anything about it. However, the RCI could do it, he said, adding that it could have access to documents relating to the foreign exchange losses, forex loss rci, for instance from the Ministry of Finance MOF or BNM.

Sidek, who is Petronas chairman, said the STF focused on the three points in the terms of reference, one of which was conducting preliminary investigations into losses by BNM related to its speculative foreign currency transactions. It also investigated whether there was any action to cover up the losses and whether the Cabinet and Parliament were forex loss rci, and it had to submit to the government recommendations for further action, including the establishment of an RCI.

On June 21, the STF submitted its findings, concluding that it found that a prima facie case existed to merit in-depth investigations by establishing an RCI. Explaining the process of the investigation, Sidek said a forex loss rci of 12 people, including former BNM governor Tan Sri Zeti Akhtar Aziz, were interviewed by the STF, and all cooperated well.

Those who did not turn up had their reasons, like perhaps they had forgotten. Among the others who were summoned by the STF were PKR adviser Datuk Seri Anwar Ibrahim, forex loss rci, DAP adviser Lim Kit Siang as well as former Finance Minister II and BNM assistant governor at the time, Tan Sri Nor Mohamed Yakcop.

Asked on the need to investigate something that happened about two decades ago, Sidek said that though it took place a long time ago, forex loss rci, it had been revealed and it had been stated that the losses were huge.

With a full investigation through an RCI, there could be closure to this. DONATE ADVERTISE CONTACT. FACEBOOK Forex loss rci YOUTUBE INSTAGRAM. News Ticker. Anwar Ibrahim Bank Negara Forex Lim Kit Siang Mohd Sidek Hassan Royal Commission of Inquiry Special Task Force Zeti Akhtar Aziz. Copyright C The Third Force. All Rights reserved.

Tun M welcomes RCI on alleged forex losses

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30/11/ · Malaysia RCI affirms Bank Negara's RMb forex loss. KUALA LUMPUR (Nov 30): Malaysia's Royal Commission of Inquiry (RCI) affirmed that Bank Negara Malaysia (BNM) incurred RM billion worth of foreign exchange (forex) losses due to Estimated Reading Time: 1 min 22/08/ · PUTRAJAYA: Bank Negara Malaysia (BNM) could have incurred up to RM billion in foreign exchange (forex) trading losses in the early s, the Royal Commission of Inquiry (RCI) into the forex scandal concluded yesterday. Chairman of the five-member commission Tan Sri Mohd Sidek Hassan (pic) said the panel came to the conclusion after hearing the Estimated Reading Time: 5 mins 21/07/ · TWENTY-FIVE years on, Malaysia is still grappling with the foreign-exchange (forex) losses chalked up by Bank Negara between and The highlights after the first week of