Need to regulate political funding

> Only way to break ‘demonic cycle’ of money politics, says Saifuddin

PETALING JAYA: There is an urgent need to regulate political funding to address problems arising from money politics and this calls for amendments to several existing laws and general election rules, said Global Movement of Moderates CEO Datuk Saifuddin Abdullah.

Stating this in a column in a Malay daily, he said this was one of the questions raised in the problems surrounding the government investment arm 1Malaysia Development Bhd (1MDB) and allegations that 1MDB funds were channelled to the personal accounts of Prime Minister Datuk Seri Najib Abdul Razak.

“The decision (on 1MDB) is pending. But it raises an important question in the world of politics – money politics.

“Politics needs money but its usage must be regulated. What is wrong is when the money is misused,” Saifuddin said in the column, adding that he has been writing on curbing money politics since 2006.

He said when money is wrongly used in politics, it often leads to adverse consequences like corruption and manipulation by the rich, as well as the loss of public confidence and disruption in the democratic system.

Saifuddin, who was former higher education deputy minister, said he fully supports any proposal to regulate political funding or the use of money by political parties and politicians.

He also expressed concern that if money politics is not controlled, certain political leaders would take the opportunity to gain power or attain riches which will lead to a more “demonic cycle”.

Saifuddin said laws are the only way to combat money politics.