Political funding: Stop ignoring the elephant in the room - CENBET

It is time to regulate political funding in Malaysia, Centre for A Better Tomorrow (CENBET) said.

Its co-president Gan Ping Sieu said transparent disclosures on sources of political funds and how it is used can help reduce risks of conflict of interests for politicians in power and their parties.

Citing the latest developments over the last few weeks on the issue of political donors, Gan said this only reaffirmed the pressing need to regulate political funding.

“For the first time, we learn of political donations to the tune of billions of ringgit, transferred into an individual's account. This has given rise to suspicion about whether there are any strings attached, or the donor's motives, given the staggering amount,” he said.

“It is unusual for foreign entities to donate huge sums. This can give rise to questions about whether there’re any elements of money laundering, foreign interference and security risks. These are among reasons why there is a need for a transparent political funding system,” he said.

“If we go by standards in developed democracies, proper guidelines on political contributions need to be drawn up, especially public disclosure on sources and how the money is used,” he said.

He said politicians from both sides of the divide have also been reluctant to push for regulated political funding.

Gan added that it is a fact that political activities require funds. What is important is that donations or contributions to politicians or their parties are properly accounted for.