Yang di-Pertuan Agong Sultan Muhammad V has given his consent for the establishment of a Royal Commission of Inquiry (RCI) to investigate Bank Negara Malaysia’s (BNM) foreign exchange market (forex) losses in the 1990s.

The Prime Minister’s Office (PMO) said yesterday the RCI was set up according to the Commission of Inquiry Act 1950 and had come into effect on July 15, 2017.

The commission will complete its investigation within three months, with a full report on the investigation to be presented to the King.

It is very interesting to note such an RCI can be achieved within three months after the massive event had taken place almost a quarter of century ago, despite repeated calls for an RCI were made in the decades that followed.

Strangely, this RCI is so close to the 14th general election, which is due any time now and by August 2018.

Another Royal Commission of Inquiry (RCI) on Sabah's illegal immigrants (RCI IIS) problem was announced by Prime Minister Najib Razak in Kota Kinabalu on Saturday, Aug 11, 2012.

Again this RCI was also called just months before the 13th general election and the RCI was in progress while the general election was held. This RCI had been repeatedly called by various quarters since the 1980s but the leaders ignored them.

The strange story of the RCI IIS heard in open court in 2013 is beyond much belief, so much so that till now and more than two years after the much delayed Royal Report delivered on Dec 3, 2014, nothing had been implemented for the observations in the “questioned” Royal Report.

Why didn't then attorney-general Abdul Gani Patail hold a copy of that report during its release? Both copies ended in the hands of the chief secretary to the government.

Is the King, as the chief executive constitutionally according Article 39 of the Federal Constitution, not concerned that such adverse disappointments have arisen in the follow-ups to the RCI IIS, resulting in the very bad governance of Malaysia?

What further excuses can the prime minister give for the much delay in activities of the RCI IIS?

I would call on the King to initiate a RCI on 1MDB, especially since the attorney-general had declared “nothing wrong” with 1MDB when so much information point otherwise.

Don’t leave it aside for too long to become obsolete or academic. Let a RCI decide on the status of 1MDB.