Friday 29 Mar 2024
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KUALA LUMPUR (Aug 8): Malaysia's Royal Commission of Inquiry said today the hearing on Bank Negara Malaysia's alleged foreign exchange (forex) losses would start this Aug 21, to investigate if there was a cover-up in the central bank's currency trades in the 1990s, The Associated Press reported today.

The Associated Press quoted the inquiry panel as saying it hoped to submit a report to Yang di-Pertuan Agong Sultan Muhammad V by this Oct 13.

"A five-member Royal Commission of Inquiry, meeting for the first time Tuesday, said it will investigate how much the central bank lost in currency trading in the 1990s and determine if there was a cover-up.

"The inquiry panel said a hearing will begin Aug 21 and that it will aim to submit a report to the king by Oct 13. The panel can make recommendations on action to be taken against those found guilty, but it is up to the attorney-general to prosecute," The Associated Press reported.

 

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