Umno to seek crowdfunding to finance future activities

KUALA LUMPUR: Umno will seek crowdfunding to finance its activities and administration, says party president Datuk Seri Ahmad Zahid Hamidi.

"For the first time, we will launch a crowdfunding initiative to finance our management and administration, as well as party activities so that we can continue to be active politically.

"This crowdfunding initiative is because we our finances have been hampered by forfeiture of party accounts," he said, claiming that these were done unfairly because of accusations beyond legal norms.

"I believe we will not only get funds from members and leaders, but also many other Umno sympathisers who want to help us.

"A professional body will help Umno administer the fund," said Zahid.

He further said that the fund would be launched at a later date, which is yet to be decided.

Zahid was speaking to the media at the Umno headquarters at the Putra World Trade Centre here on Wednesday (July 24) after a Supreme Council meeting.

On June 21, the Malaysian Anti-Corruption Commission (MACC) filed a civil forfeiture against 41 recipients and entities to recover RM270mil related to 1Malaysia Development Berhad (1MDB).

The 41 named in the suit were individuals, political parties, trust funds and business entities that received monies from former prime minister Datuk Seri Najib Razak's personal AmBank account.

Umno was said to be the biggest recipient, with RM212mil going into the accounts of several state liaison committees, divisions and leaders.