‘Special Task Force on BNM’s forex losses to complete probe in 3 months’

KUALA LUMPUR: The Special Task Force probing into Bank Negara Malaysia’s ( BNM) forex losses in 1990s aims to complete its investigation and present its findings to the Cabinet in three months’ time.

Its chairman, Tan Sri Mohd Sidek Hassan, in a statement today, said this would include a recommendation on whether a Royal Commission of Inquiry should be formed to investigate the claims in greater detail.

The Cabinet on Feb 22, 2017 appointed Mohd Sidek as Chairman of the Special Task Force.

The terms of reference are to conduct a preliminary investigation into losses by BNM related to its speculative foreign currency transactions.

The task force will comprise six other members, namely Malaysian Anti- Corruption Commission Deputy Chief Commissioner Datuk Azam Baki, Federal Police Commercial Crime Investigation Department Director Datuk Acryl Sani Abdullah Sani, Securities Commission Malaysia Chairman Tan Sri Ranjit Ajit Singh.

The others are Retirement Fund Inc. Chief Executive Officer Datuk Wan Kamaruzaman Wan Ahmad, Special Task Force to Facilitate Business ( PEMUDAH) Co- Chairman Tan Sri Saw Choo Boon (who was also Shell Malaysia former managing director and Federation of Malaysian Manufacturers former president), and Jahaberdeen & Co. Legal Partner Datuk Seri Jahaberdeen Mohamed Yunoos.

The Secretary of the Special Task Force and Head of the Secretariat of the Special Task Force is Ministry of Finance Director of Strategic Investment Division Datuk Dr Yusof Ismail. — Bernama