In an interview with Astro Awani, Mahathir said Daim was not a politician and had no interest in joining the government, but gave in to his request to take the finance portfolio in the Cabinet.
He said Daim went on to make great contributions to the government and nation in two separate stints, and both times “willingly stepped down once his services were no longer needed”.
However, he said, Daim became the subject of investigations and court charges in recent years, being accused of committing crimes which Mahathir insisted he had never done.
“This is heartbreaking to me, as this man contributed so much to the country, only to be mistreated in his later years.
“He was subjected to pressure and scorn, enduring many accusations that stripped him of the chance to live his final years in peace.
“As he was old and battling many health issues, this mistreatment accelerated the decline in his health,” he said.
Mahathir expressed hope that Malaysians would remember Daim for his contributions to the nation, not his wealth. He maintained his belief that Daim’s riches were not gained dishonestly.
Separately, in a statement, the former Umno president described Daim as a friend who fought with him in championing race, religion and country.
“However, towards the end of his life, he had faced criticism for no reason. No reason at all except for vengeance. Dear God, ensure justice for Daim.
“I can only pray, we will meet again at a later time,” he said.
Daim served as finance minister twice, both times under Mahathir during his first stint as prime minister. From 1984 to 1991, he played a key role in managing Malaysia’s economy and implementing structural adjustments.
He later returned for a second term from 1999 to 2001 to address economic issues following the Asian Financial Crisis.
Daim, a former Umno treasurer-general, was sacked from the party in May 2018 after campaigning for Pakatan Harapan, which was then led by Mahathir.
He was among five people appointed to the Council of Eminent Persons after PH formed the federal government in 2018.
However, earlier this year, Daim was the focus of investigations by the Malaysian Anti-Corruption Commission (MACC), reportedly after he was named in the Pandora Papers.
He and his wife, Naimah Khalid, were later charged with failing to comply with the terms of an asset declaration notice issued by MACC.