BNM to cooperate with STF on 1990s forex losses

Friday, February 17, 2017
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BaNk Negara Malaysia (BNM) said it will extend its full cooperation to the special task force (STF) established by the Cabinet to probe into the foreign-exchange (forex) losses incurred in the 1990s.

The central bank said yesterday that it has “continuously upheld the highest standard of disclosure and transparency in its activities” and has “significantly strengthened its balance sheet, governance and accountability, especially with respect

to reserves management”. “Under the current challenging and uncertain environment, it is important that we remain focussed to ensure that the economy and financial system remain stable and resilient to support the country’s economic activities,” it said.

The task force would comprise representatives of various government agencies and would work to analyse the losses and uncover financial misconduct, if any.

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