A binding asset declaration law is long past due

In the light of recent discussions surrounding the introduction of an asset declaration law, the Center to Combat Corruption and Cronyism (C4 Center) re-emphasises the importance of a binding and comprehensive asset declaration law to ensure transparency and accountability, and to combat corruption at a structural level.

Thus, political leaders who continue to delay or question the development of such a framework should remember that they are obstructing the development of good governance and anti-corruption measures.

Recent comments from several political figures display a stunning paucity of urgency in this regard:

On the other hand, other leaders such as Umno supreme council member Puad Zarkashi and Pasir Gudang MP Hassan Abdul Karim have voiced their support for mandatory asset declarations for all elected representatives.

This is a position that needs to be adopted by all political figures and lawmakers, for the risks of political financing are not limited to those in cabinet alone. A comprehensive asset declaration law should include all MPs, senators and state assembly members.

Article 8(5) of the United Nations Convention against Corruption (a universally binding anti-corruption instrument which Malaysia ratified in 2008 and is thereby bound) stipulates that state parties shall endeavour “to establish measures and systems requiring public officials to make declarations to appropriate authorities” regarding their investments, assets and substantial gifts or benefits from which a conflict of interest may arise.

Presently, Malaysia still does not have any statutory requirement for mandatory asset declaration by elected officials.

The previous national anti-corruption plan for 2018-23 listed a mandatory asset declaration framework for all MPs as a strategic goal. During a mid-term review in 2021, initiative 1.2.9 of the plan was subsequently amended from “To introduce a written law on the declaration of asset and interest by Members of Parliament” to initiative 1.2.6, “To undertake a study on the viability of a written law on asset declaration by Members of the Administration and Members of Parliament”.

The national anti-corruption strategy for 2024-28, which replaced the plan, removed any mention of an asset declaration law, including under the appendix titled “NACP Initiatives That Could Not Be Completed as of December 2023”.

Instead, the strategy only mentions introducing an interest and gift declaration mechanism under sub-strategy 2.12: “To introduce a mechanism for declaration of interest and gift by members of the administration and members of Parliament.”

Asset declarations are an important element of open government policies, as they allow for increased transparency of the financial positions of those in power.

The public availability of such information enables members of civil society to serve as watchdogs to monitor potential instances of illicit enrichment and corruption.

Concerns about security risks can be alleviated by redacting identifiable information (such as locations of real properties), but this cannot be used as a justification for not publicly releasing declared information.

The public deserves to know whether their elected representatives have enriched themselves during their time in office. Any political figure who cannot see this should remind themselves of the depth of public discontent in the current political landscape.

Therefore, C4 Center strongly calls for the introduction of an asset declaration law applicable to all MPs which would provide a clear framework for such declarations and public access to this information. – C4 Center