Nearly 10 years after the 1Malaysia Development Berhad (1MDB) scandal erupted, Malaysia continues to address the economic and governance issues it caused.
What began in 2009 as an ambitious national development project under then-Prime Minister Najib Razak turned into one of the world's biggest financial scandals, funding luxury properties, private jets, and even Hollywood films instead of economic growth for Malaysians.
According to the Malaysian Anti-Corruption Commission (MACC), about 70% of the 42 billion ringgit (around US $9.45 billion) siphoned from the state-owned fund has been recovered as of March 2025. This marks strong progress, even as the full recovery process is expected to take until 2039.
How the Scandal Impacted Malaysia's Economy
When the 1MDB scandal first broke in 2015, it sent shockwaves through Malaysia’s financial system. As international investigations gained traction in 2016, Malaysia experienced one of the largest capital
...
Loading comments...