ANWAR Ibrahim wanted to sack Bank Negara Malaysia’s (BNM) assistant governor Nor Mohamed Yakcop for exceeding his boundaries in forex trading, the Royal Commission of Inquiry (RCI) into the forex losses, heard today.
Anwar, who was then finance minister, told the RCI that Nor Mohamed had not only exceeded his boundaries, he had also failed to provide an accurate report on the losses suffered by BNM through forex trading.
“The final explanation (by Jaffar) was accurate because (it) verified that Nor Mohamed exceeded the mandate given to him.
“(Nor Mohamed) did not give an accurate report to him (Jaffar).
“I instructed that Nor Mohamed be sacked, if possible at 4.00pm (during their meeting),” said Anwar in reference to a conversation he had with the then Bank Negara governor Jaffar Hussein in 1994.
Anwar added he would have initiated the sacking if Nor Mohamed refused to resign. Nor Mohamed resigned from his position in April 1994.
Anwar, the de facto leader of PKR and Pakatan Harapan, also criticised Nor Mohamed for the latter’s testimony at the RCI yesterday where he had said he deemed the forex losses as a lesson that helped the country in facing the Asian financial crisis.
“His assertions are absurd. You must be accountable (for what has happened),” said Anwar when the matter was prompted by RCI panel member Saw Choo Boon today.
In his testimony yesterday, Nor Mohamed took accountability over the forex losses and admitted he was responsible for BNM’s forex trading from 1986 until 1993, before his resignation.
He said that he accepted his fair share of accountability over the forex losses incurred in the late 1980s and early 1990s.
Nor Mohamed also told the RCI panel that he never discussed the forex transactions in the years between 1986 and 1993 with both Anwar and then prime minister Dr Mahathir Mohamad.
THE MALAYSIAN INSIGHT