PROTECTING DR M’
the governor would not have dared to act unilaterally without the tacit approval of the prime minister,” he said here.
Tunku Aziz said the trading losses happened due to the lack of responsibility and attitude that did not respect the trust given.
“I’m referring to the fact that there was an abuse of trust. The attitude of not respecting trust had encouraged this scandal,” Tunku Aziz said.
In his testimony, Nor Mohamed had confirmed that forex losses happened under his watch and that the central bank paid a steep price for trading in foreign currencies in the early 1990s.
He admitted BNM had “misread the market” and took “full accountability” for the losses.
“The forex losses happened. There is no denying it. There is also no denying my accountability for the forex losses.
“I accepted my fair share of accountability for the forex losses and resigned from BNM,” he had said.