BNM forex scandal: Anwar denies failing to inform Cabinet of entire forex losses

SINGAPORE (Sept 8): Former finance minister Datuk Seri Anwar Ibrahim denied that he failed to inform the Cabinet of the entire foreign exchange (forex) trading losses incurred by Bank Negara Malaysia (BNM) in the 1990s.

This was in response to claims by the Royal Commission of Inquiry (RCI) on Thursday that Anwar failed to tell the Cabinet of BNM's forex losses of RM12.35 billion in 1992, RM15.29 billion in 1993, and RM3.86 billion in 1994 despite knowing about it.

Anwar told the five-man panel he was aware of losses amounting to RM9.5 billion in 1993 but was bound by BNM’s Annual Report 1993 which stated that RM5.7 billion of losses incurred then was stated as “deferred expenditure”.

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