COMMENT | An uncomfortable and increasingly urgent question now hangs over Malaysia’s financial system: Is our money safe?

It is not just the money invested in shares or the funds managed by corporations; it is the entire ecosystem of trust that underpins how money moves, grows, and is protected.

Even if you don’t own a single share, you have a stake, because the economy, jobs, pensions, and public trust all depend on accountability.

Consider Lembaga Tabung Haji (TH), entrusted with the savings of millions of Malaysian Muslims. In February 2016, just three days of public concern reportedly triggered RM118.7 million in net withdrawals, causing 3,105 depositors to lose their turn for the haj pilgrimage.

More recently, between 2020 and 2023, TH recorded net withdrawals of around RM2 billion, while facing RM19.9 billion in sukuk obligations and rising haj costs, forcing the institution to restructure and rely on costly public interventions.

The experience of the Federal Land Development Authority (Felda) offers another stark reminder: when...