The Maldivian Constitution requires the President, Cabinet Ministers, Members of the Parliament, and Judges to submit their financial and business interests. The principle goal of asset declaration is to combat corruption—in particular, illicit enrichment—and promote transparency and accountability of the governance system.
However, whilst these constitutional provisions are intended to promote transparency and integrity of public officials, this intention does not translate into reduced corruption due to various systemic deficits, including the failure of asset disclosure. For example, the 2013 Global Corruption Barometer survey undertaken by Transparency Maldives shows that 86 per cent of respondents perceive the Parliament—followed closely by political parties and the judiciary—as the most corrupt institution in the Maldives. The survey also reports that 97 per cent of respondents believe corruption is a problem at the public sector. Similarly, the 2014 Democracy at the Crossroads survey undertaken by Transparency Maldives finds the Parliament as the institution that holds the least public confidence.
This paper, structured into four parts, identifies asset declaration as a key anchor to sustain democratic reform. The first part of this paper outlines what asset declaration is and why it is important. The second part presents the asset declaration system as it is currently practiced in the Maldives; whilst the third part identifies problems in this system. The fourth part provides key recommendations to increase transparency, accountability, and integrity of the governance system.