Malaysian government escalates investigation on historic forex losses

A Royal Commission of Inquiry will investigate the heavy foreign exchange losses incurred in the early 1990s

The Malaysian government will establish a Royal Commission of Inquiry (RCI) to investigate the multi-billion-dollar foreign exchange losses by Bank Negara Malaysia (BNM) during the early 1990s.

In a statement issued on June 21, the prime minister’s office said the formation of the RCI, which has stronger investigatory powers, is based on the findings of the “special task force”, which formed in February to investigate the same matter.

“The cabinet unanimously agreed with the task force’s recom

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