In a statement, Khazanah said Nor Mohamed submitted his resignation during a meeting yesterday, and will effectively relinquish his post and exit the sovereign wealth fund’s board of directors on Sept 30. During his testimony, Nor Mohamed said there was a large inflow of US dollars in the late 1980s and early 1990s. “We subscribed to this view and bought European currencies, including pound sterling,” he said. Nor Mohamed, said Khazanah, has served on Khazanah’s board of directors for 15 years, making him its longest-serving board member and the only deputy chairman in its 23-year history. “Nor Mohamed has been instrumental to the success of numerous initiatives, including the revamp and transformation of Khazanah from 2004 to the present day,” the statement read.

Source: The Edge Markets September 20, 2017 02:26 UTC