In an exclusive interview with The Malaysian Insight, Dr Mahathir Mohamad maintained that he knew little more than what was reported to Parliament back then of the forex losses, which reportedly took place between 1987 and 1992.
Instead, he said the late Bank Negara Malaysia governor Jaafar Hussein and former assistant governor Nor Mohamed Yakcop were responsible for the trading room.
Former BNM assistant governor Murad Khalid revived the forex scandal in January when he said the central bank had raked up almost US$10 billion in foreign exchange market losses by 1992, a figure that dwarfs the RM9 billion of losses disclosed by BNM then.
On the recommendation of a special task force established after Murad’s revelation, the Prime Minister’s Office (PMO) announced on June 21 that a Royal Commission of Inquiry (RCI) will be formed to investigate the forex losses.
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