Nor Mohamed Yakcop to Exit Board of Directors at Khazanah

Nor Mohamed Yakcop, Deputy Chairman of Khazanah Nasional Berhad, plans to exit the board of directors, effective September 30, 2017.

Yakcop served on Khazanah’s board for 15 years. He was the longest serving board member at the wealth fund and the only deputy chairman in the fund’s history.

On August 6, 2017, Nor Mohamed Yakcop revealed to the royal commission of inquiry (RCI) that during his role as Assistant Governor at Bank Negara Malaysia in 1994 that he was accountable for the foreign exchange losses that occurred at the time. He commented, “There is also no denying my accountability for the forex losses. I accepted my fair share of the responsibility and resigned from BNM.”

He also added, “However, with the grace of Allah SWT, I was given the opportunity in 1997/1998 to contribute to king and country during the financial crisis.”

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