PETALING JAYA: The 1Malaysia Development Bhd (1MDB) scandal is the disastrous result of a leadership without conscience, alleges Datuk Seri Dr Wan Azizah Wan Ismail.
In providing other examples of leadership failure worldwide, the Deputy Prime Minister said despite regulations in place, scandals like 1MDB happened because those involved had not followed their conscience.
“The world has seen many crises and scandals that show the disastrous consequences of leadership failure.
“In the United States, we have the Enron (financial) fiasco, the subprime (mortgage) crisis and closer to home, we have the infamous 1MDB scandal.
“In all of these failures, there were regulations in place, government mechanisms and reporting systems.
“Yet they all failed because all of those individuals behind these crises stopped listening to their conscience and succumbed to greed,” she said in her keynote address at the Asean Corporate Responsibility and Sustainable Development Summit 2018 here on Monday (June 25).
Dr Wan Azizah said people often expect their leaders to do good and help them achieve more, but more often than not, leaders failed their people.
“They allow their personal interests to override common interests and they use their wealth to buy influence.
“Unfortunately, there are some among us who become willing followers of these bad leaders, who have no moral compass,” she added.