Create a Political Financing Mechanism that has Integrity
PM launches PPP to bolster fight against financial crime
5 November 2019
Prime Minister Tun Dr Mahathir Mohamad launched the Public-Private Partnership (PPP) initiative at the Financial Crime and Terrorism Financing Conference to combat financial crime. It is a collaboration and cooperative initiative between Bank Negara Malaysia (BNM), the Securities Commission Malaysia, law enforcement agencies and major financial institutions in Malaysia. The PPP will promote synergy in efforts to foil anti-money laundering activities and countering the financing of terrorism schemes through sharing of financial intelligence from financial institutions for the purpose of crime prevention and law enforcement. A key component of PPP models throughout the world is the emphasis on personal data protection and confidentiality, benchmarked against the European Union’s General Data Protection Regulation.
Introduce a new Political Financing Control Act
Bill on political funding to be tabled next year
29 October 2019
The government is expected to table the Political Funding Bill in Parliament next year, said Law Minister in the Prime Minister’s Department Liew Vui Keong. The bill would focus on the regulatory aspect of political contributions, which is essential to abolish corruption and create a corruption-free ecosystem among future generations based on the principles of transparency, accountability and integrity. The government would look into the proposal for political parties to be provided with funds and payment of RM10 to political parties for every vote received in the election. The Election Commission (EC) is in the process of updating new voting districts in Sarawak in preparation for the upcoming 12th state election.
17 September 2019
GIACC Director announces that Political Funding Bill likely to be introduced into Parliament in October 2019 sitting.
29 August 2019 – Datuk Seri Najib Razak issued an RM246,000 cheque in an effort to provide “objective” information to Sino Malaysian community about his Barisan Nasional administration’s policy in 2013, the ex-prime minister’s one-time political secretary testified at the High Court today. Datuk Wong Nai Chee, 50, said the cheque paid to tycoon Tan Sri Lim Soon Peng was intended for AD Network, which was the administrator of the “Ah Jib Gor” Facebook page account, as well as Akademi Kewartawanaan and Informasi Taima (AKIT) which managed a vernacular publication titled Chinese Weekly.
C4 – The shocking revelation that Najib Razak paid RM246,000 to astroturf the Chinese community support and to manipulate the news is an affront to democracy and fair play. The probable use of stolen 1MDB money for his own political gain points to an urgent need for a comprehensive and transparent Political Financing laws. These laws will ensure future political and elections campaigns that are transparent and accountable to Malaysians and the law.
4 May 2019 – On political funding, Rashid said the ERC was currently reviewing a report prepared during former minister in the Prime Minister’s Department Datuk Paul Low’s tenure. “All political parties must declare their finances. There will be no more hiding. Everyone, including the government, has to own up.
“It’s alright to receive a lot of money, but we must know the source.”
2 May 2019 – Economist Prof Jomo Kwame Sundaram today called for the establishment of a political financing system in Malaysia to ensure that political parties no longer need to get money from corporations or in an illicit way. He said there should be an alternative source of financing with very strict rules for political parties to adhere.
29 January 2019 – Government is looking at the possibility of introducing a new act to monitor activities related to political funding. GIACC is in talks with political parties to prepare the Political Funding Bill before it is presented to the Cabinet and later tabled in Parliament, hopefully in June.
9 April 2019 – The Election Commission is reviewing the entire electoral process. One of the key areas being studied is political financing. A Political Financing Act is being drafted currently in the AG’s office, will be tabled in the cabinet soon.
Set-up a Special Committee to prepare new Act and examine all proposals which include:-
- Political parties that qualify will receive annual funding from the Government according to a transparent and consistent formula
- Contributions must be from identifiable sources
- Parties must submit annual audited financial report
- Parties’ assets not in excess of RM1 billion
- Government-owned companies are not allowed to make contributions
21 March 2019: Prof Edmund Terence Gomez from Universiti Malaya cast doubt at the PH government’s efforts to closing the loopholes related to internal party elections and the use of GLCs as a source of political funding. He said this at the “Political Funding in Malaysia: The European Experience“ forum organised by Transparency International Malaysia”,