Legislative amendments submitted by the main opposition Maldivian Democratic Party (MDP) seeking to make it mandatory for senior management of state-owned enterprises, as well as members of independent institutions and other statutory bodies to submit financial declarations detailing their private finances was accepted into the Parliament on Monday with bipartisan support.
Last week, North Galolhu MP Mohamed Ibrahim (Kudu) – a parliamentarian from MDP - submitted amendments to two laws – the Audit Act and the Privatization and Corporatization Act.
Both bills were accepted into the Parliament for consideration with a unanimous vote of 50 on Monday afternoon.
The amendments received bipartisan support, as lawmakers from both the MDP and the ruling People’s National Congress (PNC) voted in favor of reviewing the bills.
The bills have now been sent to the Parliament’s Public Accounts Committee for review.
The proposed amendment to the Privatization and Corporation Act applies to top officials of SOEs - chairpersons, chief operating officers, managing directors and deputy managing directors.
Meanwhile, the proposed amendment to the Audit Act applies to members of independent commissions, individuals appointed to autonomous roles, and heads of statutory bodies and state agencies and offices.
Amendments to both laws require these officials to submit financial declarations detailing their personal assets, wealth and debt within 30 days of assuming office, and financial declarations verified a licensed auditor on an annual basis.
It also prescribes a fine of MVR 5,000 for failure to meet the deadlines.
Kudu has said that the legislative amendments seek to strengthen the accountability of public officials.
Kudu has also submitted a separate bill seeking to dock the salaries of cabinet ministers who fail to submit their financial declarations on time. This constitutional amendment was accepted into the Parliament last week with bipartisan support, and is currently being reviewed.