Daim Zainuddin, a former Malaysian finance minister who served under Prime Minister Mahathir Mohamad, passed away at 86 on Wednesday. Known for his critical role in guiding Malaysia through economic downturns, Daim held office from 1984 to 1991 and again from 1999 to 2001, where he navigated the country through recessions and the Asian financial crisis. His family announced his passing in a hospital near Kuala Lumpur, with funeral services set to be held at the national mosque. His former colleague, Mahathir, expressed deep sorrow, recalling their close partnership in serving the nation.
Daim’s health had recently declined following a stroke, leading to an intensive care stay, according to his lawyer, Gurdial Singh Nijar, though the official cause of death was not disclosed.
Earlier this year, Daim faced legal scrutiny, pleading not guilty to charges of failing to disclose assets in line with Malaysia’s anti-corruption law. This legal action arose as part of a broader anti-corruption campaign by Prime Minister Anwar Ibrahim’s administration. Daim and his wife, Na’imah Abdul Khalid, were both investigated by the Malaysian Anti-Corruption Commission (MACC) on suspicions of undeclared wealth, with allegations partly based on information from the Pandora Papers—an extensive financial leak in 2021 exposing offshore holdings by prominent figures.
A businessman and lawyer by background, Daim amassed substantial wealth through ventures in banking, real estate, and other sectors. His family’s holdings include the prominent Ilham Tower in Kuala Lumpur, which was seized by authorities as part of the investigation. The Malaysian government extended condolences following Daim’s passing, as spokesperson Fahmi Fadzil noted.
Image—Berita Harian
