The government has announced the composition of the Royal Commission of Inquiry (RCI) into Bank Negara's foreign exchange (forex) losses, which among others will recommend the appropriate action to be taken against those found to be directly or indirectly involved.

The RCI has been given a three-month time frame to complete its task and submit a report to the Yang di-Pertuan Agong.

According to the Prime Minister's Office, the six-member team would be headed by the former chief secretary to the government Mohd Sidek Hassan, who would serve as the commission's chairperson.