‘Money politics’ has become an ingrained feature of the Malaysian political system. While political parties must be allowed to have access to funding, it must be regulated efficiently to avoid corruption and mismanagement.
Currently, legal loopholes exist in how political parties source and distribute funds, both during and outside of campaign periods. A major problem is the lack of requirements for political parties to disclose their funding and spending. This lack of oversight has led to grand corruption in cases such as 1MDB, along with the entrenchment of the political-business nexus where business cronies receive government contracts and other benefits in exchange for political support and ‘donations’.
The economic power held by these politically-linked businessmen can also influence government policy and the direction of our country, which may benefit the elite but at the cost of the rest of the rakyat. A political financing act is urgently needed to break down this corruption-friendly system.
Aug 16, 2022 Political financing reform in Malaysia, aimed at promoting transparency and integrity among parties, is finally within sight with the bill for the new law expected to be tabled in the October’s Dewan Rakyat meeting. Minister in the Prime Minister’s Department Datuk Seri Dr Wan Junaidi Tuanku Jaafar said this was to allow […]
Aug 8, 2022 THE All-Party Parliamentary Group on Political Financing urged all political parties to take similar actions in introducing the Political Financing Act as they did to the Anti-Party Hopping Law. The Institute for Democracy and Economic Affairs (IDEAS) CEO Dr Tricia Yeoh, who is part of the group, hopes the Political Financing Bill will […]
Aug 5, 2022 KUALA LUMPUR, Aug 5 — The Malaysian Bar has reiterated its call for the enactment of political financing laws without further delay. In a statement, its president Karen Cheah Yee Lynn said the professional body has been working on a draft Bill with the All-Party Parliamentary Group on Political Financing in the […]
Aug 3, 2022 KUALA LUMPUR, Aug 3 — The Political Funding Bill and Political Funding Transparency Act must be implemented before the 15th general election, Bayan Baru MP Sim Tze Tzin said today. The PKR lawmaker said the recent passing of the Anti-Party Hopping Bill must be seen as proof of voters’ hunger for change, […]
Aug 02, 2022 PUTRAJAYA (Aug 1): Barisan Nasional hopes the Political Funding Bill would be tabled for at least the first reading in Parliament before the 15th General Election, said its Secretary-General Datuk Seri Dr Zambry Abd Kadir. He said the Bill is one of the BN commitments, as the coalition has proposed it before GE14 to determine that issues […]
July 31, 2022 SHAH ALAM: The political funding bill is being worked on, says Prime Minister Datuk Seri Ismail Sabri Yaakob. He said whether it could be ready before the 15th General Election (GE15) remains to be seen. “It is in the process. I’m not sure (if it can be done before GE15). You’ll have […]
July 25, 2022 A political economist who previously bemoaned the lack of will to enact a law on political finance now hopes it will see the light of day. Edmund Terence Gomez said he was hopeful because of the many efforts that had been made over the years. He said Najib Razak had proposed a […]
July 21, 2022 Political parties must be audited to ensure transparency when it comes to political funding, said an MP. Subang MP Wong Chen said the management of political party accounts had to be improved because it was not enough to just receive money from the public. “Companies also have to amend their corporate bill […]
June 23, 2022 The lack of will to enact a political funding Act across the divide confirms that lawmakers from both sides receive political funding from businesses, said an economist. Edmund Terence Gomez pointed out that before the 14th general election in 2018, opposition parties showed support for political financing and institutional reforms. However, he […]
June 19, 2022 A parliamentary-level committee needs to be formed to enable the draft of the Political Funding Act to be tabled immediately. UMNO secretary-general Datuk Seri Ahmad Maslan said this is because the draft of the act had been ready since 2017. “The draft act has been completed since 2017, (the then) Minister in […]