"The central bank has now in place the most rigorous risk management and governance structure to ensure something like that never happens again. Zeti says would aid probe into BNM forex scandalTan Sri Dr Zeti Akhtar Aziz says she will cooperate with the Special Task Force investigating the billions Bank Negara Malaysia allegedly loss in currency trading during the Mahathir administration. I was with the central bank for 35 years. Speaking to reporters here today, Zeti said the issue was never raised during her 16-year tenure as Governor. Yesterday, former Chief Secretary to the Government Tan Sri Mohd Sidek Hassan, was appointed to head a special task force to probe the forex loss.
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Zeti ready to cooperate with task force to probe BNM forex losses
KUALA LUMPUR: Former Bank Negara Malaysia (BNM) Governor Tan Sri Dr Zeti Akhtar Aziz said if needed, she will give her cooperation to the task force investigating the foreign exchange losses by BNM in the 1990s. The Cabinet had on Feb 15 agreed to set up a special task force to conduct a probe into the losses suffered by Bank Negara due to foreign exchange trading in the 1990s. Former Bank Negara assistant governor Datuk Abdul Murad Khalid was reported to have claimed that the central bank suffered US$10bil in forex market losses in the early 1990s. Yesterday, the Prime Minister's Office announced that former Chief Secretary to the Government, Tan Sri Mohd Sidek Hassan, has been appointed as the task force chairman. She however declined to comment on the issue further, saying that the investigative process should be allowed to take place first.
Citi settles South Africa forex probe – Global Investigations Review – GIR
iStock.com/German iStock.com/GermanCitigroup will pay a 69 million rand (€5 million) fine to resolve its role in South Africa's foreign exchange rigging investigation, days after the country's competition enforcer referred a host of banks to the country's Competition Tribunal alleging they fixed the exchange of the US dollar/rand currency pair.
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