PUTRAJAYA: As the Royal Commission of Inquiry (RCI) to probe the 1990s foreign exchange (forex) scandal enters its third hearing today, former premier Tun Dr Mahathir Mohamad has finally made an appearance. Dr Mahathir arrived at Putrajaya's Palace of Justice at 9.04 this morning, accompanied by his aides. "Murad made the claims in January this year, after 25 years of allegedly knowing of the forex losses. The RCI was set up following a cabinet meeting, soon after the New Straits Times published an interview with Murad, where he claimed that the central bank has suffered forex losses of US$10 billion in the early 1990’s. It was also reported at that time, which was during Tun Dr Mahathir Mohamad’s premiership, BNM had ventured into speculative currency trading and forex trading with large sums of money, alarming other banking institutions worldwide.

Source: New Strait Times August 24, 2017 02:03 UTC