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Parliament has passed the KWAN Bill 2026, expanding Malaysia's national trust fund to encompass broader natural resource wealth beyond oil and gas. Finance Minister II Amir Hamzah emphasizes the fund's role in securing options for future generations.
A newly passed law tightens controls on KWAN withdrawals, mandating parliamentary approval for any future funds drawn from the sovereign wealth fund following the controversial RM5 billion withdrawal in 2021.
Parliament has received the National Trust Fund Bill 2026, establishing KWAN to build Malaysia's long-term sovereign wealth. The fund will draw from federal revenue, Petronas dividends, and resource export duties.
Indonesia's parliament has passed legislation granting extensive legal protections to purchasers of Danantara bonds, prompting financial experts to warn the scheme could facilitate money laundering and tax evasion.
Malaysia's High Court has placed the 1MDB scandal among the world's most significant kleptocracy cases, characterizing the financial plunder as unprecedented in its scale and drawing stark comparisons to historical figures.