KUALA LUMPUR - Malaysia is mourning the loss of its former finance minister, Daim Zainuddin, who passed away at the age of 86. His death marks the end of an era for the nation's political landscape and financial reforms.

Daim was admitted to Assunta Hospital in Petaling Jaya in October after suffering a stroke, and despite his remarkable career, he faced recent controversies. A close ally of former prime minister Mahathir Mohamad, Daim served as finance minister during two pivotal periods: from 1984 to 1991 and again from 1999 to 2001. His tenure was characterized by significant economic restructuring, particularly during the Asian financial crisis in the late 1990s.

Prime Minister Anwar Ibrahim, currently in Peru for an APEC meeting, expressed his condolences via social media, recognizing Daim's substantial contributions to the country. "The government acknowledges his dedicated service as finance minister and beyond," he wrote.

Former Prime Minister Mahathir Mohamad lamented the loss of his long-time friend, stating, "He should have been celebrated for his contributions, but at the end of his life, he was unjustly attacked." This reference pertains to ongoing corruption investigations that began shortly after Anwar took office. Mahathir also prayed for justice for Daim amidst the controversies.

Over the last year, Daim and his wife, Na’imah Abdul Khalid, came under investigation by the Malaysian Anti-Corruption Commission. They faced allegations of failing to declare a significant amount of assets, including 38 companies and 25 properties. With connections to the Pandora Papers investigation, the scrutiny intensified, leading to charges against him in early 2024, which he denied, claiming the inquiries were politically motivated.

Daim's impact extended beyond finance; he played a crucial role in the advisory Council of Eminent Persons after the 2018 elections, which aimed to address various challenges in governance and the economy.

Born on April 29, 1938, in Alor Setar, Kedah, Daim came from humble beginnings as the youngest of 13 siblings. He entered politics as a Member of Parliament for Kuala Muda in 1982 and later represented Merbok under the United Malays National Organisation (UMNO). In 2018, he was expelled from UMNO for supporting Dr. Mahathir and the Pakatan Harapan coalition.

Many prominent figures, including former Prime Minister Muhyiddin Yassin and Opposition Leader Hamzah Zainuddin, paid tribute to his legacy, underscoring his profound influence on Malaysia’s economic landscape. "We lost a treasure today. He was an architect of our economy during Malaysia's golden age," Hamzah reflected, while Lim Guan Eng also shared condolences.

Daim Zainuddin was laid to rest at the Bukit Kiara 1 Muslim cemetery in Kuala Lumpur around 6 p.m., leaving behind a legacy as one of Malaysia's most influential financial leaders, whose contributions to the nation can never be forgotten. The country is grappling with not only the loss of a seasoned politician but also a visionary who shaped its economic trajectory.