Reform now or lose credibility - GIAT coalition

Governance, Integrity, Accountability and Transparency (GIAT) is calling for immediate reform to the way political parties and their election campaigns are financed.

In a press statement, the coalition is also urging transparency in the personal accounts of politicians.

GIAT also described the Wall Street Journal (WSJ) report alleging 1Malaysia Development Berhad (1MDB) funds were channelled to the Prime Minister Datuk Seri Najib Razak’s accounts, as deeply shocking and appalling.

“If true, this incident is symptom of a larger problem at hand,” the statement read.

GIAT reiterated the urgent need to implement several recommendations made in a 2005 report by Transparency International Malaysia and a policy brief by the Institute for Democracy and Economic Affairs on asset declarations.

Among the recommendations are adopting a political financing and asset declaration Act and public asset declarations of all members of the executive and legislative body including senators and senior public officials.

The report also called on reforming the Elections Commission to autonomously and independently regulate all political parties and a public release of political party accounts audited by an independent party Full disclosure of political party and candidate financing.

Giat, which includes Transparency International Malaysia, Centre to Combat Corruption and Cronyism (C4), Citizen's Network for a Better Malaysia (CNBM), Friends of Kota Damansara, Sinar Project and the Institute for Democracy and Economic Affairs (Ideas) believe that the Malaysian government must enact these reforms now or lose its credibility.

In its article published last Friday, WSJ alleged that 1MDB funds amounting to US$700 million (RM2.6 billion) had been channelled to the premier's personal account, a claim denied by both Najib and 1MDB.

Several parties have since urged Najib to take legal action against WSJ to clear his name and defend the government’s integrity.