Malaysia’s Political Financing Law: A Step Towards Transparency and Accountability
Call for Expedited Enactment
Malaysian Anti-Corruption Commission chief Azam Baki has emphasized the need to expedite the enactment of a political financing law, with a focus on regulating funding for election campaigns.
Improving Malaysia’s Corruption Perceptions Index (CPI) Score
The call comes as part of broader efforts to improve Malaysia’s 2024 CPI score and ranking, which remained at 50 and 57th place, respectively, compared to 2023. Azam believes that the passing of a political financing law is timely, given the number of elections that will take place in the coming years.
Pilot Phase Suggested
Azam has suggested to law and institutional reform minister Azalina Othman Said that it is best to start small, with a pilot phase. "In Malaysia, we have a general election every five years and numerous by-elections (in between). Let’s start with that," he said. "The next nationwide polls are just two-and-a-half years away. It’s best to table the bill and debate it now. As far as I know, the political financing bill is currently stuck at the special select committee stage. When discussions drag on, it creates a certain perception. Why the delay?"
Comprehensive Draft Bill Requires Phased Enforcement
The draft bill is comprehensive but requires phased enforcement, which will take time. Azam highlighted that every donation and financial contribution to political parties must be reported, and that political parties in Malaysia, at every branch and division level, have their own bank accounts. "Umno alone has about 6,000 accounts, while PKR may have 3,000. Who will oversee all these accounts? That’s how detailed the draft bill is," he said.
Conclusion
The enactment of a political financing law is crucial for promoting transparency and accountability in Malaysia’s political landscape. By expediting the process, the government can ensure that political parties are held to higher standards of transparency and that the public is better informed about the sources of funding for political campaigns. With the next nationwide polls just two-and-a-half years away, it is imperative that the government takes immediate action to pass this crucial legislation.
Frequently Asked Questions
Q: Why is the political financing law important?
A: The political financing law is important for promoting transparency and accountability in Malaysia’s political landscape, ensuring that political parties are held to higher standards of transparency, and that the public is better informed about the sources of funding for political campaigns.
Q: What is the current state of the political financing bill?
A: The political financing bill is currently stuck at the special select committee stage.
Q: What is the proposed approach to implementing the political financing law?
A: Azam has suggested a pilot phase, starting with regulating funding for election campaigns, followed by a phased enforcement of the law.