RCI necessary for BMF, Bank Negara forex scandals as they were never probed
(NST) – Communications and Multimedia Minister Datuk Seri Dr Salleh Said Keruak said a Royal Commission of Inquiry (RCI) is needed to look into the Bumiputera Malaysia Finance Limited (BMF) and Bank Negara foreign exchange (forex) scandals as the issues were never investigated.
He said former prime minister Tun Dr Mahathir Mohamad and DAP adviser Lim Kit Siang are “sour grapes” for not using an apples-to-apples comparison, by saying that an RCI was needed not just for the two scandals but also for the 1Malaysia Development Berhad (1MDB) issue as well.
Salleh said the two of them had overlooked the fact that 1MDB had already been investigated by the Public Accounts Committee (PAC), a special task force (which investigated police reports lodged over 1MDB issues), the Auditor-General, Attorney-General, Royal Malaysia Police (PDRM), Malaysian Anti-Corruption Commission (MACC) and others.
Moreover, he said reports regarding the matter had been prepared.
“Regarding the BMF and Bank Negara forex scandals, however, no such thing was done and in fact, at that time Parliament was misinformed about the matter and only today are we discovering the truth.
“The government’s real exposure in 1MDB is only RM1 million, the initial paid up capital. Dr Mahathir, however, is creating the impression that the government lost RM42 billion, which is not true and is a fabrication,” said the minister in his blog at http://sskeruak.blogspot.my/ today.
Salleh pointed out that in the case of the BMF and Bank Negara forex scandals, the losses were real and substantial and involved massive capital injections and bailouts to avoid bankruptcy.
He said that while the finances of 1MDB are an open book, until today the finances related to the BMF and Bank Negara forex scandals remained unknown, and hence the need for a RCI on these two matters.
“The government has never needed to bail out 1MDB with any capital injection (other than the initial RM1 million capital injection) like in the case of the BMF and Bank Negara forex scandals, which cost the country hundreds of billions.
“Even then, we do not know how much the amount really was, unlike in 1MDB’s case.
“Only a RCI can get to the truth regarding the BMF and Bank Negara forex scandals,” he said.
Salleh’s statement came after Dr Mahathir said earlier today he welcomed a call for the government to set up a RCI to investigate the (BMF) and Bank Negara forex scandals.
Responding to Umno Youth’s call for the RCI, Dr Mahathir had said that while he welcomed the call, a commission should also investigate 1MDB and the RM2.6 billion political donation issues and what had happened to the money.
