Form RCI to probe Bank Negara’s 1991 & 1MDB

Form RCI to probe Bank Negara’s 1991 forex losses, Umno Youth tells Putrajaya

 

Umno Youth deputy chief Khairul Azwan Harun demanded the government scrutinise the financial status of the central bank to verify if the actual losses exceeded the reported US$10 billion at that time. — Picture by Choo Choy MayKUALA LUMPUR, Feb 6 — Umno Youth deputy chief Khairul Azwan Harun urged the federal government today to set up a Royal Commission of Inquiry (RCI) to investigate an explosive exposé on Bank Negara Malaysia’s (BNM) multi-billion dollar losses from currency trading in 1991.

Claiming a “cover up”, Senator Khairul Azwan also demanded the government scrutinise the financial status of the central bank to verify if the actual losses exceeded the reported US$10 billion at that time.

“This cover up is a crime that must be investigated through an RCI to find those who manipulated and caused Bank Negara Malaysia to be bankrupt in 1991,” he said in a statement.

Khairul Azwan was referring to the bombshell by Datuk Abdul Murad Khalid in an interview with New Straits Times (NST) 10 days ago in which the former BNM assistant governor claimed the central bank suffered foreign exchange losses of US$10 billion in the early 1990s.

A few days prior to the NST publication, the media reported about the declassified United States Central Intelligence Agency (CIA) papers which linked his administration to the Bumiputera Malaysia Finance Limited (BMF) scandal in the 1980s during the Mahathir administration.

The Umno Youth leader’s demand echoes an earlier call from PAS Youth who asked the authorities to investigate former prime minister-turned-Opposition politician Tun Dr Mahathir Mohamad over Murad’s allegations about his links to the BMF and foreign exchange scandals during his time in office.

However, the Malaysian Anti-Corruption Commission has reportedly advised BNM to conduct an internal investigation first, adding that it will only step in if and when the internal inquiry shows any element of corruption is handed to it.

Yes, Form RCI to probe Bank Negara’s 1991 & 1MDB simultaneously. Let have a BANG with all the fireworks and ALL! Two leaders at their BEST in Kleptocracy.