PETALING JAYA: Umno Youth has urged the Government to set up a Royal Commission of Inquiry (RCI) to investigate an estimated loss of US$10bil (RM44bil) in the foreign exchange market (forex) in the early 1990s. It was reported that former Bank Negara Malaysia assistant governor Datuk Abdul Murad Khalid revealed that the central bank had suffered US$10bil in forex market losses in the early 1990s, far higher than it had admitted. Abdul Murad questioned why no one was investigated or charged for what he described as one of the biggest forex losses in the world. Khairul Azwan also said that based on the youth wing's research, the figures are higher than reported, including forex trading exposure estimated at US$150bil (RM664.13bil), while forex trading losses could have reached beyond US$30bil (RM132.83bil). "The RCI will determine the individuals who tried to manipulate and cause huge losses to BNM.

Source: The Star February 06, 2017 10:06 UTC