Zeti willing to cooperate in forex probe

Zeti willing to cooperate in forex probe

Former Bank Negara Malaysia governor says the issue was never raised during her tenure.

zeti
KUALA LUMPUR:
Former Bank Negara Malaysia governor Zeti Akhtar Aziz says she is willing to cooperate with the investigation into the alleged loss of US$10 billion by the central bank in foreign exchange trading in the 1990s.

Speaking to reporters here today, Zeti said the issue was never raised during her 16-year tenure as governor.

“The central bank has in place the most rigorous risk management and governance structure to ensure something like that never happens again.

“The investigations were all completed before my time (as governor). I was with the central bank for 35 years. After that event, tremendous discipline followed,” she said.

Zeti said this after the launch of six books and a monograph on Islamic Finance published by the International Centre for Education in Islamic Finance.

“It is something that happened almost 30 years ago. It is the wish of the current leadership to investigate the matter. But I cannot comment until the investigation is completed,” she added.

Yesterday, former chief secretary to the government Mohd Sidek Hassan was appointed to head a special task force to probe the forex loss.

The task force will also determine the actual loss, whether there was any procedural and financial administration misconduct, and the extent of any subsequent cover-up.

Last month, Bank Negara’s former assistant governor Abdul Murad Khalid claimed the central bank had lost billions of dollars in the forex dealings, but there was no investigation to determine who was responsible.

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.