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Forex losses: MACC advises BNM to conduct own probe

 | January 28, 2017

It says if the central bank finds any element of corruption, it should make a report.

sprm-bnmPETALING JAYA: The nation’s anti-graft agency has advised Bank Negara Malaysia (BNM) to conduct its own internal probe over the alleged loss of US$10 billion (RM44.3 billion now) in a foreign currency trading scandal in the 1990s.

The Malaysian Anti-Corruption Commission (MACC) said it would only launch an investigation into the allegation if BNM found any element of corruption, and reports it to MACC, New Straits Times Online reported today.

“If they find any element of corruption, the report should be submitted to MACC and we will open an investigation,” MACC deputy chief commissioner (operations) Azam Baki told the news portal.

The allegation made by former BNM assistant governor Abdul Murad Khalid came following the release of the Central Intelligence Agency’s (CIA) declassified reports on the Bumiputra Malaysia Finance (BMF) scandal.

Prime Minister Najib Razak yesterday said the Cabinet will look into the allegations and will wait for an explanation from the central bank first before deciding on the next course of action.


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