Reform asset declaration system to restore public confidence

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KUALA LUMPUR (Oct 18): Stressing the importance of reforms to Malaysia's asset declaration system, the government said it will develop an effective system to ensure better asset declaration and detect abuse among politicians.

The Code of Ethics for the declaration of assets and gifts among Members of Parliament and Members of Administration including the Prime Minister and Deputy Prime Minister will be amended to have a requirement to declare assets to the Malaysian Anti-Corruption Commission (MACC) as well, instead of only to the Prime Minister, as practised before.

"In this regard, MACC will be mandated to verify and monitor the assets declaration," the mid-term review said.

Prime Minister Tun Dr Mahathir Mohamad had, on July 10, said all ministers, including the prime minister and his deputy, and government MPs would be required to declare their assets in an effort to ensure transparency within the government.