Proposal submitted to require public officials to disclose financial statements within 30 days of appointment

A proposal has been submitted to Parliament seeking to require public officials to disclose their financial statements within 30 days of assuming office, whether appointed or elected.

The paper, submitted by Galolhu North MP Ibrahim Mohamed (Kudu) to Speaker Abdul Raheem Abdulla, calls for amendments to expand the number of officials required to disclose financial information and to strengthen financial accountability across state institutions.

Under the proposal, ministers, members of independent institutions, and other senior officials would be required to submit their financial statements to both parliament and the Auditor General within 30 days of appointment. It also states that financial statements be submitted annually.

The statements would need to be verified by an auditor licensed by the Institute of Maldives Chartered Accountants, the paper stated.

If passed, the law would introduce penalties for non compliance, including salary deductions for each day of delay in submission.

The proposal also seeks to consolidate financial statement requirements currently across various laws and extend them to members of all independent constitutional bodies including the Judicial Service Commission, Civil Service Commission and Elections Commission.

MP Mohamed said in his proposal that the move aims to improve transparency and ensure that all state officials, including those in institutions established under the Constitution, are held to the same standards to declare their finances.