Malaysia need laws to regulate political funding - Paul Low
LOW: When political funds are deposited into an individual's bank account instead of the party's, it is difficult to ascertain if the money is a form of bribery or a gift.
Looking at the status quo, Malaysia needs to immediately implement laws to control political funds.
Minister in the Prime Minister’s Department, Datuk Paul Low Seng Kuan, said the laws were to ensure transparency among each politician in this country.
He said, the laws, among others, were also to prohibit donations from foreign countries who are not Malaysian entities or citizens.
“There are three things that we need to do as the best practice for all political parties.
“First, we need to prohibit donations from foreign countries who are not Malaysian entities or citizens.
“Secondly, political donations must only be deposited in the accounts of political parties, not individuals’. Because, as you know, it is very difficult to determine of it is bribery or not. It could be a gift, right?
“Thirdly, the identity of all donors must be made public,” said Low in his speech at the Malaysian Institute of Chartered Secretaries and Administrator (MAICSA) annual conference yesterday.
He said, currently there are no laws to regulate political funding in Malaysia, although there are some rules on election expenditure.
At the same time, he said there was a dire need to curb corruption in politics that will threaten the process and value of democracy in this country.
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