The findings of the royal commission of inquiry (RCI) into the Bank Negara forex scandal were presented to the Yang di-Pertuan Agong Sultan Muhammad V today.

The RCI's chairperson Mohd Sidek Hassan (photo) presented the 400-page report to the King during an audience at the Istana Negara this evening.

"His Majesty will bring the report to the government and I have explained the commission's findings to His Majesty.

"It is up to the government for further action," Mohd Sidek was quoted as saying by Bernama.

The RCI was set up to probe forex losses suffered by the central bank in the late 1980s and early 1990s when Dr Mahathir Mohamad was prime minister.

It was tasked to determine the veracity of allegations surrounding the forex losses incurred by Bank Negara and its implications on the national economy.

It must also determine if Bank Negara's involvement in forex activities contravened the Central Bank Ordinance 1958 or other related laws.

Finally, the RCI will decide if there were attempts to conceal facts and information regarding this as well as the issuance of statements which misled the cabinet, Parliament and public.

The forex scandal occurred during the 1980s when Mahathir was prime minister, prompting certain quarters to accuse Prime Minister Najib Abdul Razak of attempting to exact political revenge against his nemesis.

25 witnesses including Mahathir, former deputy prime minister Anwar Ibrahim, and former finance minister Daim Zainuddin testified during the eight-day hearing.

42 documents were also submitted during the proceedings.