Daim Zainuddin: A Legacy of Economic Reform and Controversy

Former Malaysian finance minister Daim Zainuddin passed away at 86. Renowned for leading economic reforms, his influence persisted until his death. He faced legal challenges related to asset disclosure amid graft investigations in recent years. Prime Minister Anwar Ibrahim acknowledged his contributions to Malaysia's economy.

On Wednesday, Malaysia mourned the loss of Daim Zainuddin, the former finance minister credited with significant economic reforms, who passed away at 86. His family stated that he died in a hospital near Kuala Lumpur but did not specify the cause. His lawyer, Gurdial Singh Nijar, confirmed that Daim had been in intensive care following a stroke in recent weeks.

Serving as finance minister from 1984 to 1991 and again from 1999 to 2001, Daim played a pivotal role in propelling Malaysia towards modern industrialization. Under former Prime Minister Mahathir Mohamad's leadership, Daim implemented policies that attracted foreign investment, driving economic growth to a remarkable 9.06% in 1989. Mahathir expressed deep sorrow at the loss of his friend and ally.

However, in recent years, Daim's name was embroiled in controversy regarding asset declarations. He faced investigations by Malaysia's anti-graft body following revelations from the Pandora Papers. Daim, who pleaded not guilty to failing to disclose assets, remained a prominent figure until his passing, as highlighted by Prime Minister Anwar Ibrahim's acknowledgment of his contributions.

(With inputs from agencies.)