By Muhammad Aneeq Aiyman bin Roslan & Tan Lian May (P.104 Subang Intern, 2018) Introduction:
This paper is an attempt to assess the current situation of asset declaration in Malaysia and push for further efforts of implementing it on a larger scale.
Governments today are becoming more vulnerable to corruption and financial scandals which have been impetus to the downfall of several nations we know today.
The reason why corruption is so repulsive is the fact that it impedes national growth, creates avenues for higher income inequality, and gives rise to inefficiency.
In 2014, political parties were ranked the most corrupt among six key institutions in Malaysia, ahead of the police and civil servants1. This explains why asset declaration is critical for those elected into power.
While eradicating corruption entirely is idealistic, the path towards achieving anything close to such ideals begins with transparency in all aspects. It is; therefore, imperative for the new government to gazette laws to make public asset declaration a mandatory practice for all Ministers, State Executive Committees, high ranking public servants, and in the long run, all Member of Parliaments and State Assemblymen.