INVITATION | "Bank Negara Forex Scandal - When Government Becomes Speculator" Public Forum, 2nd June 2012, 2.30pm, Dewan Sri Pinang

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Invitation   "Bank Negara Forex Scandal - When Government Becomes Speculator" Public Forum   Date: 2nd June 2012 (Saturday) Time: 2.30pm Venue: Dewan Sri Pinang Opening Speech by: YAB Lim Guan Eng (Chief Minister of Penang) Speakers: YB Datuk Seri Anwar Ibrahim (ex-Finance Minister and Opposition Leader)                    YBhg Dr Rosli Yaakop (ex-Deputy Governor of Bank Negara) Moderator: Julian Candiah (Former Investment Banker) Programme Flow: 2.30 pm | Registration   3.00 pm | Arrival of VIP   3.05 pm | Welcoming Remarks, Zairil Khir Johari, CEO of Penang Institute   3.10 pm | Introduction Speech, YAB Lim Guan Eng, CM of Penang   3.30 pm | Forum "Bank Negara Forex Scandal- When Government Becomes Speculator"   1) YB Dato' Seri Anwar Ibrahim, Malaysian Opposition Leader  2) Ybhg. Dr. Rosli Yaakop, Ex-Deputy Governor of Bank Negara   Moderator: Julian Candiah, PDC Deputy General Manager   4.30 pm | Q & A Session   5.00 pm | Refreshments   Background: Following the success of our forum on the Port Klang Free Zone (PKFZ) scandal, Penang Institute has decided to revisit another major financial scandal that has haunted our country since the nineties.   In 1992, Bank Negara (the Central Bank of Malaysia) engaged in aggressive currency trading, eventually running up losses amounting to RM30 billion in forex speculation. Despite mounting pressure from civil society groups and opposition parties demanding accountability, the government responded by dismissing the scandal as mere “paper losses” that came from “profits made in forex dealings in preceding years”.   20 years on, there has been no explanation, no accountability and no action taken on the massive losses suffered by Bank Negara from its controversial foray into forex speculation. The government has remained silent and calls for a royal commission of inquiry have gone unheeded.   Not only are the losses unaccounted for, but the way in which Bank Negara, an institution entrusted with ensuring the financial stability of the country, gambled away billions of taxpayers' money has cast grave doubts on its credibility. As such, Penang Institute hosts this forum in hope to unearth the truth, educate the public as well as to highlight the need for intergrity, accountability and transpaprency, especially where public money is concerned. The forum will feature Opposition Leader YB Datuk Seri Anwar Ibrahim, who is also a former Deputy Prime Minister and more crucially, the Finance Minister at the time of the scandal. Also speaking will be Penang Chief Minister YAB Lim Guan Eng. We have also sent an invitation to Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop who played a key role behind-the-scenes in Bank Negara at the time. It is hoped that he will accept the offer in the spirit of democracy. Join us as we seek out the truth behind the scandal with our panel of experts and insiders. RSVP ACCEPT   |   DECLINE   The admission is FREE and you are welcome to forward the invitation to your friends and colleagues.  Thank you and we look forward to see you. Ivy Kwek Communication and Event Executive

Penang Institute is a non-profit  Penang-based think tank and research institute set up in 1997, with a focus on facilitating dynamic and sustainable development for Penang.