What is the purpose of the RCI in forex losses?


Forex rules: Was a framework in place in Bank Negara between 1991 and 1993 to check the trading positions of its dealers?

TWENTY-FIVE years on, Malaysia is still grappling with the foreign-exchange (forex) losses chalked up by Bank Negara between 1991 and 1993.

The highlights after the first week of the hearing by a Royal Commission of Inquiry (RCI) set up to unearth the ghost of the past were the quantum of losses, and the aspersion that there was a deliberate suppression of information and an attempt to cover up the losses.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , shan , column forex , RCI

   

Next In Business News

Eupe fourth-quarter profit rises 29%
Meta projects higher spending, weaker revenue
Buyout proposal for Anglo American could reshape copper market
US solar makers seek additional tariffs on panel imports from Asia
A test bed for airline subscription model
Pantech seeks to list steel pipe units
AI memory boom propels SK Hynix’s numbers
Battery stocks’ rally in India likely to extend
Congo accuses Apple of using ‘blood minerals’ from war-torn east
Higher earnings for Pavilion-REIT

Others Also Read