This article first appeared in The Edge Malaysia Weekly on January 9, 2023 - January 15, 2023

In a well-organised press conference on Oct 28, 1999, Datuk Murad Khalid, then an assistant governor of Bank Negara Malaysia (BNM), attracted a great deal of local and global media attention (see Flashback 1) when he read out his statutory declaration (SD) dated Oct 26, 1999. In the SD, Murad claimed he was aware that Datuk Seri Anwar Ibrahim had RM3 billion in more than 20 “master accounts”.

Anwar was, of course, at the time in the Opposition, having being sacked as deputy prime minister a year earlier and then jailed. Today, he is the prime minister.

Even as recent as 2012, this accusation in the 1999 SD often made headlines, especially those newspapers, TV and radio stations and online publications associated with the governing parties (of which the main component, Barisan Nasional, is now in Anwar’s unity government).

Allow me to refresh everyone’s memory, and for the younger generation, provide some background information.

On Sept 2, 1998, the then prime minister Tun Dr Mahathir Mohamad sacked his deputy and finance minister, Anwar, from the Cabinet.

Two days later, Anwar was expelled from Umno, of which he was deputy president. He was then arrested on Sept 20 under the Internal Security Act, and charged on Sept 29 for corruption and sodomy. Anwar was convicted of corruption on April 14, 1999 (sentenced to six years in prison) and convicted of sodomy on Aug 8, 2000 (sentenced to nine years in prison).

Anwar has always insisted that these were trumped-up charges and a political conspiracy. He levelled his own accusation of corruption against Mahathir, Tun Daim Zainuddin and other cronies. (Scan QR Code 1 for Kenyataan Anwar Ibrahim akuan berkanun Dato Murad Khalid, Nov 7, 1999.)

The flurry of accusations and counter accusations were exacerbated by the SD of Murad on Oct 26, 1999, portrayed as a major coup for the then government against Anwar (scan QR Code 2 for full SD).

The gist of Murad’s SD was that he claimed he was aware that Anwar had more than 20 “master accounts” where some RM3 billion was hidden. These funds were allegedly derived from gains made in various corporate exercises and used to further Anwar’s political ambition. Murad acknowledged that he was personally involved in many of the transactions, forced upon him as an officer of Bank Negara. And unfortunately, he implicated me as one of the facilitators, who allegedly established and managed one of these “master accounts” for Anwar.

Murad’s credentials were that he was at the material time an assistant governor of Bank Negara, a director of the Securities Commission and a director of the Inland Revenue Board.

There is no question Murad was an immensely powerful man then, placed in enormously powerful institutions, all at the same time.

So, what came out of this SD by Murad?

It was repeated and used again in June 2012, 13 years later. Murad reaffirmed his SD of Oct 26, 1999, and offered to help any investigations by the authorities (see Flashback 2). This prompted the press conference by Rafizi Ramli and Saifuddin Nasution of PKR. (Scan QR Code 3 for the Malaysiakini.tv video on the press conference.) What they said was that Murad lied and they threatened retaliatory action if he did not withdraw the SD and make a public apology. Murad never did. To date, nothing has happened.

So, why am I raising this today? After all, it happened a long time ago.

For one, it is necessary to set the record right and let the truth prevail. The 1999 episode went on to become an important turning point in the history of our country. Secondly, surely no one wishes that we reward those who fabricate lies. Specifically, paras 5, 13-15, which relate to me, are false. And for me personally, I want to see the last of the false accusations against me be put to rest.

After all, my family, friends and colleagues and I paid a huge price. I was told I was only collateral damage in the grand scheme of things. But even then, surely as an irrelevant person, I too deserve justice.

For years, my colleagues, family and I were under investigation by Bank Negara and the Anti-Corruption Agency (ACA) (now MACC). We were repeatedly harassed and threatened. Passports were seized, bank accounts were frozen and phones were tapped. Many of my colleagues (great and talented men and women) subsequently left the country and remain abroad (many in Australia). At least one suffered a severe mental breakdown. My late wife was pregnant and alone when our home was subjected to a search by Bank Negara.

As I have shared previously, and in the book The Phileo Story (Scan QR Code 4 for a free copy of the digital book), we were forced to sell PhileoAllied Bank. And then, we were “robbed” of our shareholdings in the bank’s parent company that was listed on the Kuala Lumpur Stock Exchange (now Bursa Malaysia) after the bank was sold for cash. Together with my late wife and young children, I left Malaysia and we stayed for many years in Canada. Only on arrival did we tell the children that we had left our country for good. They never even said goodbye to their friends. Their lives were uprooted at a tender age and the scars have remained until today.

I was approached on two separate occasions, by two different powerful individuals, to cut a deal. To be cooperative by providing the information that could assist the powers that be.

I can certainly understand there are many who would rather that we forget this entire episode. Why dredge up the past? There were many “hidden hands” in Murad’s SD who would rather pretend it never happened. And yes, I know many will raise all sorts of suspicion and cynicism now that Anwar is the PM.

Murad’s profoundly serious accusations were made in his SD dated Oct 26, 1999. He repeated the same accusations and the same SD on June 18, 2012, almost 13 years later. And in August 2017, when Datuk Seri Najib Razak was the prime minister, Murad implicated both Mahathir and Anwar in his testimony during the first day of an inquiry into the billions of dollars lost in foreign exchange trades in the 1990s. (Scan QR Code 5 for the full The Straits Times Singapore article.)

What I seek is simple. For Murad to publicly withdraw his SD now. Apologies are not necessary. This is the only way this episode will finally end. And it would be better if he also named those people who participated and assisted him in the fabrications contained in his SD.

Over to you, Murad.

“When truth is replaced by silence, the silence is a lie.” — Yevgeny Yevtushenko

Save by subscribing to us for your print and/or digital copy.

P/S: The Edge is also available on Apple's App Store and Android's Google Play.