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Political Financing Law Needed To Foster A Culture Of Integrity

in Latest/Politics

KUALA LUMPUR – The proposed Political Contributions and Expenses Act can provide a suitable platform to create an effective system of political financing, said UMNO Supreme Council member Datuk Seri Dr Irmohizam Ibrahim.

In fact, he said, the law, proposed by the National Consultative Committee on Political Financing (JKNMPP), could complement existing laws, such as the Malaysian Anti-Corruption Commission (MACC) Act 2009, the Election Commission Act, the Election Offences Act, the Registrar of Societies Act and the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.

“Whether it is a new act or an amendment of existing laws, monitoring of funds or political contributions may only be carried out effectively when the need to report the sources of political funding becomes mandatory to all parties involved in political activities.

” If a political party fails to comply with any regulations introduced, the objective to foster a culture of integrity will not be effective.

“So, for more transparency in political funding, countries must have a special certificate,” he said in a statement.

Irmohizam, who is also Kuala Selangor Member of Parliament, said monitoring of political funding was important to close all the space and opportunity for corruption.

Therefore, every political funds disbursed must be audited and recorded to demonstrate the transparency of a party, he added.

He said political financing at the federal level or the state should be directed to the account of the party to enhance transparency and public confidence in the political establishment.

“The establishment of a monitoring body of political funds is not something new as it has been done in the United States and France, which set rules that each political contributions channeled be recorded,” he added.

Irmohizam said the proposed law should be supported by all parties.

The proposal submitted by JKNMPP is good, but it needs to be refined, he added. – BERNAMA


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