Prime Minister Anwar Ibrahim expressed gratitude for the ringgit’s recent appreciation against the US dollar. When asked to comment on the currency’s performance, he responded, “Alhamdulillah.”
Anwar made the remark after launching the National Audit Department’s 120th-anniversary celebration. At 8 a.m. today, the ringgit strengthened to 3.9850/9950 against the dollar from 4.0045/0080 recorded last Friday.
The ringgit last traded at a similar level on May 24, 2018, when it touched RM3.9797 against the greenback.
On Saturday, Anwar stated that the ringgit’s performance, now among the best in Asia, demonstrates the effectiveness of good governance policies, political stability, and investor confidence in the country’s economic direction.
The finance minister said the strengthening of the ringgit results from the government’s continuous efforts to ensure peace, efficient administration, and firm action against corruption and misappropriation.
Treasury secretary-general Johan Mahmood Merican was reported as saying that the reform agenda under the Madani Economy framework, which emphasises fiscal discipline, has strengthened investor confidence and contributed to the ringgit’s strengthening last year.
Call for a Stronger Audit System
In his speech at the audit department’s anniversary, Anwar stressed that the national audit system must be continuously strengthened in a professional, transparent, and accountable manner to curb leakages and prevent the abuse of power.
He said the ability to conduct effective audits reflects a nation’s dedication to integrity and sound governance.
“Auditing is not just about correcting accounts; it ensures that the country’s systems and management improve, become more transparent and more accountable,” Anwar said.
“Weaknesses or delays in auditing will allow leakages and abuse to continue,” he added.
Linking Audits to Governance and Reform
Anwar also linked the function of auditing to the principles of public accountability, including those in Islamic traditions, which emphasise responsibility, transparency, and stewardship in administration.
He said that over the past two to three years, the government had provided ample room for audit reforms across ministries and agencies to accelerate improvements to the nation’s audit system.
He highlighted the passage of the Audit (Amendment) Act 2024 as a step towards continuous improvement, stressing the need for audits that are faster, more accurate, and focused on delivering impact to the people.
Anwar cautioned that the audit system should not be viewed as a burden but as a major effort to improve national governance.
“I am providing every possible space to accelerate these reforms and achieve a level we can be proud of,” he said.
“But audits must be effective, timely and beneficial to the public at large, not just a routine exercise,” he reiterated.
He concluded that a strengthened audit system would elevate the country’s standing and boost public confidence in government institutions.
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