And what was more puzzling, according to him, was that no one was ever investigated or charged for what he described as the biggest forex losses in the world. The 64-year-old Murad, who left BNM in 1999, also shared “behind-the-scene” workings of the secretive Bank Negara forex operations. In a rare interview with the New Straits Times and Utusan Malaysia, Murad said the actual forex losses were US$10 billion, much higherthan the RM9 billion as disclosed by BNM. “The total losses were US$10 billion and not ringgit... our losses are in foreign currencies and not ringgit. Murad said as a central bank, BNM’s role was not to speculate in the forex market.

Source: New Strait Times January 27, 2017 02:58 UTC