Parliament Committee Mandates Financial Disclosures Within Three Months for MPs

In a significant move to enhance transparency, the General Committee of the Parliament has passed a resolution mandating elected members of Parliament to submit their financial statements to the Secretary General of Parliament within three months of being sworn in. This new rule marks a substantial change from the previous requirement, which allowed MPs to file their financial statements six years after taking their oath.

Transparency International, a global watchdog, had raised concerns over the previous rule, citing that the prolonged delay in submitting financial statements hindered the verification of MPs' financial status and whether they had acquired wealth through illicit means. In a statement, Transparency International emphasized that timely submission of financial statements is crucial for maintaining public trust and ensuring accountability.

During the committee meeting, Ibrahim Didi, the representative of the Feydhoo South Constituency, highlighted the importance of this change, describing it as the most transparent approach to governance. "This amendment will increase the trust of the people in their representatives," Didi asserted.

The requirement for annual financial statement submissions was initially established by the Maldivian Democratic Party (MDP) during the 20th Parliament, where the party held a significant majority. The new rule to shorten the submission period to three months is seen as a further step towards improving transparency and accountability among lawmakers.

By enforcing this new timeline, the Parliament aims to ensure that MPs' financial activities are closely monitored from the outset of their terms, thereby preventing potential conflicts of interest and promoting ethical conduct in public office. This move is expected to foster greater confidence in the legislative process and reinforce the commitment to good governance.

The resolution has been widely welcomed as a positive step towards increasing the integrity of the parliamentary system and ensuring that elected officials remain accountable to the public throughout their tenure.