Published: 26 December 2023
Dhaka, 26 December 2023: An analysis of affidavits, submitted by candidates for the parliamentary elections, has revealed a concerning trend of wealth growth of politicians and their dependents. The Transparency International Bangladesh (TIB) analysis unveiled significant spike in assets among the ministers and members of parliament (MPs), reaching staggering percentages such as over 2,43,513 per cent increase in movable wealth by one MP over fifteen years and over 6,000 per cent by a minister, reflecting a common trend among almost all the parliamentarians in the last five to fifteen years.
These findings were detailed in the report "Interpreting Election Affidavit Data: What Message Does It Convey to the Public?" - released by TIB on 26 December 2023. The report was based on an analysis of over 6,000 candidates' affidavits from the 2008, 2013 and 2018 elections as well as the forthcoming 12th Parliamentary Election in 2024. TIB also prepared an interactive Know Your Candidate (KYC) dashboard, where the citizens and state agencies can evaluate the candidates’ data and take necessary actions.
This disturbing pattern points to a significant flaw in the country’s democracy: ineffective, inactive, and politically subservient regulatory bodies tasked with overseeing such financial disparities. The inaction of these regulatory bodies, such as the Election Commission (EC), the Anti-Corruption Commission (ACC), the Bangladesh Financial Intelligence Unit (BFIU), and the National Board of Revenue (NBR), amplifies concern over their incapacity to curtail such unusual wealth escalation. Despite clear indications of potential improprieties, these bodies appear inert, failing to address the disproportionality between declared assets and legitimate earnings of the politicians.
The TIB report highlighted an alarming shift in Bangladeshi politics, where the focus appears to have shifted from being pro-people to ‘pro-wealth’. Political parties are fielding candidates with wealth surpassing BDT one crore, a trend that has seen a drastic surge over the years.
For instance, back in 2008, some 27 per cent of the Bangladesh Awami League-fielded candidates possessed assets exceeding BDT one crore, a figure that skyrocketed to over 86 per cent after fifteen years. Nearly half of the independent candidates for the upcoming election declared wealth exceeding BDT one crore.
Furthermore, an unprecedented 164 candidates, approximately 27 per cent, reported annual earnings surpassing BDT one crore, including 18 billionaires, the wealthiest among them possessing assets worth BDT 1,345 crore.
The influx of businesspersons in the political arena has also surged, accounting for 57 per cent of the candidates in the upcoming election, a 10 per cent rise over the last 15 years. Additionally, the affidavits revealed instances of candidates owning expanses of land exceeding the legal limits, outlined in the Land Reform Act 2023 (maximum 60 Bigha agrarian land, and maximum 100 Bigha including non-agrarian land).
The TIB analysis also spotlighted concern over authenticity of the candidates' wealth-related information, income sources, assets, and 'undisclosed' foreign investments. Dr. Iftekharuzzaman, Executive Director of TIB, underscored the concerning surge in assets among the ministers and MPs, highlighting the inactive stance of the state agencies responsible for investigating such matters.
The lack of accountability in scrutinizing substantial increase in the politicians’ wealth, potentially disproportionate to their legitimate income, raised significant concerns, he opined, and stressed the urgent need for proactive measures by the relevant state agencies to address this issue.
TIB also called upon the EC, ACC, BFIU and NBR to take decisive actions to investigate and verify the affidavit data.
To see the Know Your Candidate dashboard and presentations, visit - ti-bangladesh.org/kyc
