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Nor Mohamed summoned by forex task force
Published:  May 26, 2017 5:05 PM
Updated: 10:34 AM
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Former second finance minister Nor Mohamed Yakcop was summoned today by the special government task force probing the 1990s Bank Negara foreign exchange (forex) scandal.

According to Berita Harian, Nor Mohamed was seen entering the Finance Ministry at 3.25pm and leaving about 4.10pm.

He did not entertain any questions from the media.

Previously Anwar Ibrahim had told the task force that Nor Mohamed was responsible for the central bank's losses in the forex market.

Nor Mohamed, who was the head of Bank Negara's forex trade operations in the early 1990s, resigned in 1994 following the losses.

Ahmad Don, the Bank Negara governor who took over after Nor Mohamed's resignation, estimated the losses to be as high as US$30 billion.

In 1998, then prime minister Dr Mahathir Mohamad turned to Nor Mohamed during the Asian financial crisis, where he reportedly helped devise a controversial currency control largely credited to have stabilised Malaysia's economy amid regional turmoil.

Nor Mohamed then became the prime minister's special economic adviser and finance minister II under PM Abdullah Ahmad Badawi.

Despite being widely blamed for the forex scandal, he is now deputy chairperson of sovereign wealth fund Khazanah Nasional.

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