DAP’s M Kulasegaran said the probe came only after former prime minister Dr Mahathir Mohamad joined forces with the opposition.
“Why is it that after Mahathir joined the opposition, whatever he did then is suddenly now considered a crime? Why wasn’t it done 30 years ago? Those people who were with him then have also compromised the principle of accountability.
“The RCI report is too late, and it is difficult to justify its worthiness,” he told FMT.
PKR vice-president Tian Chua meanwhile described the report as nothing more than a witch hunt.
He said the move was expected of BN as a way to frame Mahathir and Pakatan Harapan (PH) de facto leader Anwar Ibrahim, who was finance minister at the time.
“It is predictable. It is politically motivated. The aim is not to enhance good governance but to smear their political opponents.”
Tian Chua said the main aim of the “witch hunt” was to influence the minds of voters, adding that it was part of BN’s strategy for “political manoeuvring”.
He was alluding to 1MDB, which is being probed by the US Department of Justice for alleged money laundering.
“I don’t think people will buy into this. We have lost billions in our current situation and we do not take action.”
Klang MP Charles Santiago agreed that the purpose of the RCI report was to implicate Anwar and Mahathir.
“It is good for Najib Razak. A lot of people have been saying 1MDB cost a lot of money to the country. It is Najib’s way of saying, ‘Look, I am not the only one doing it’. It is one way of handling the problem.”
Santiago said the most important thing to note was that Bank Negara Malaysia (BNM) assistant governor at the time, Nor Mohamed Yakcop, had said that he did not discuss the matter with Mahathir or Anwar.
“Yakcop made it clear he was dealing with the forex trading. He knew exactly what was happening. Both the prime minister and the finance minister had no idea what was happening. He had also taken an oath,” he said.
Santiago added that it was BN and Najib’s way of cornering the opposition leaders in the hope that they would not go hard on 1MDB.
“That is how they are playing the game.”
The RCI, which was held over nine days from Aug 21 to Sept 19, saw a total of 25 witnesses testifying.
It was led by its chairman Sidek Hassan, who is former chief secretary to the government and current chairman of Petronas.
Other members of the RCI panel were High Court judge Kamaludin Md Said, Bursa Malaysia Bhd chief executive officer Tajuddin Atan, Special Task Force to Facilitate Business co-chairman Saw Choo Boon and Malaysian Institute of Accountants member K Pushpanathan.
The RCI’s scope of inquiry was to:
- Determine the authenticity of the allegation on the foreign exchange losses suffered by BNM in the 1990s and its implications on the national economy;
- Determine whether BNM’s involvement in the foreign exchange activities which caused the losses contradicted the Central Bank Ordinance 1958 or any relevant laws;
- Determine whether there were elements of hidden facts and information relating to foreign exchange losses suffered by BNM and misleading statements given to the cabinet, Parliament and the public;
- Recommend suitable actions to be taken against those found to be directly and/or indirectly involved in causing the losses and hiding the facts and information on the losses; and
- Recommend appropriate measures to ensure the incident would not recur.
Nor Mohamed: I never discussed forex trading with Mahathir, finance ministers