World

Malaysia Bids Farewell to Former Finance Minister Daim Zainuddin at 86: A Legacy and a Controversy

2024-11-13

Author: Rajesh

KUALA LUMPUR: The political landscape of Malaysia mourns the loss of Daim Zainuddin, the esteemed former finance minister, who passed away on November 13 at the age of 86, as confirmed by his lawyer.

Daim Zainuddin left an indelible mark on Malaysian politics, serving as finance minister during two pivotal periods under former Prime Minister Mahathir Mohamad – from 1984 to 1991 and again from 1999 to 2001. His influence during Mahathir’s administration was profound, granting him significant power in shaping economic policies and strategies at a time when Malaysia underwent rapid growth and development.

In recent years, Daim remained active in public service, even after his retirements from official positions. In 2018, upon Mahathir's return to the premiership, Daim was appointed as the chairman of the Council of Eminent Persons. This council was established to guide the government on key socio-economic issues in the wake of a historic electoral victory that saw the fall of the long-standing ruling party.

Daim's health had been declining in recent weeks following a stroke which necessitated his stay in the Intensive Care Unit (ICU). Although his lawyer, Gurdial Singh Nijar, mentioned that the cause of death was not immediately clear, it brings to a close the life of a man who often faced political and legal challenges.

Earlier this year, Daim entered the spotlight for legal troubles, pleading not guilty to serious charges related to asset disclosure. The case raised eyebrows across the nation, particularly after Malaysia’s anti-corruption agency seized several properties belonging to his family, including the towering Ilham Tower – a prime piece of commercial real estate. This investigation was part of a broader probe into alleged corrupt practices linked to past administrations and corporate entities tied to the once-dominant United Malays National Organisation (UMNO).

As Malaysians reflect on Daim Zainuddin’s legacy, they must navigate a complicated tale of economic stewardship intertwined with allegations of corruption. His funeral is set to take place on Wednesday, marking the end of an era for a man who played a central role in Malaysia's financial narratives. The question remains: how will his legacy shape the future of Malaysia's political landscape, especially in the ongoing fight against corruption?