Transparency in party and campaign funding must be ensured so that political power cannot be used for profit or abuse, Transparency International chair François Valérian has said.
He also said that institutions such as the Anti-Corruption Commission (ACC) and the judiciary must operate free from political or administrative interference if Bangladesh is to dismantle entrenched networks of corruption.
For all latest news, follow The Daily Star’s Google News channel. Valérian said the aspirations expressed during last year’s mass uprising make him optimistic that corruption is neither inevitable nor unbreakable, and that reforms demanded on the streets — from judicial independence to genuine accountability — can succeed.
“Political power cannot be for sale. Yet in many countries, campaign financing is treated as an investment. Businesses or even foreign powers provide money to politicians or parties with the expectation of returns, often through inflated public contracts, at the expense of citizens,” he said in an interview with The Daily Star during his three-day visit to Bangladesh from 1-4 September.
During his visit, he met the chief adviser, the chief justice, ACC officials, and reviewed Transparency International Bangladesh’s activities. The trip came as the country pursues reforms in various sectors following last year’s mass uprising, which sought to build a society based on equity.
The head of the Berlin-based watchdog said, “We want transparency on both sides: money going in and money going out. Party and campaign financing must be public, not only reviewed by regulators but also available on a public platform. Spending also needs to be transparent, so citizens can check discrepancies between reported expenditures and reality.
“Only then can we end the market for political power and return elections to what they should be: competitions between ideas and projects for society.”
Valérian acknowledged the reform initiatives, but said the principle has to be simple: positions of power must serve the people, not be used to extract profit.
On the upcoming national polls in February, he said elections are not meant to grant unchecked power to one person or party.
“Profound reform is needed to dismantle entrenched corruption. This must continue regardless of which party wins.”
He added that elections must be peaceful and inclusive, free from violence, intimidation, or harassment of voters. “All communities, including remote and indigenous populations, must be able to participate freely, without vote buying or coercion.”
Asked about his meetings with interim government officials, Valérian said he emphasised institutional independence, transparency, and sustained reforms.
“What I emphasised was that the world is watching Bangladesh. Last year’s revolution was unique, a revolution for integrity, and the reforms underway are ambitious and necessary.”
He highlighted two urgent priorities: separating the judiciary from the executive and adopting beneficial ownership transparency to prevent corruption. “These must be put in place before the February elections. The ACC also needs to function as an independent instrument, not a partisan one as it used to be.”
Beneficial ownership transparency involves disclosing the real individuals who control or benefit from companies and other entities. In Bangladesh, corruption often links political elites, businesses, bureaucracy, and law enforcement.
Asked if dismantling such a system is realistic, Valérian said the courage people showed last year gives him hope.
“Despite repression, people stood up and ousted corrupt leaders, who had to flee. Bangladesh is now working to recover their stolen assets. This proves corruption is not as fatalistic or entrenched as many may think.”
He said that during the previous regime, an estimated $16 billion was stolen annually from Bangladesh. Recently, £185 million was confiscated in London following a joint call by TI Bangladesh, TI UK, and Spotlight on Corruption.
“This illustrates the global economy of corruption, which may seem abstract but amounts to $1 trillion annually — public money stolen from many countries and invested in just a few.”
“When public money is missing, it is missing from everything: health, education, infrastructure. And crucially, it is also missing for climate action, which is a matter of survival for a country like Bangladesh.”
Asked what global legal framework is needed to stop developed countries from accepting dirty money, François Valérian said the responsibility lies with all nations.
“The mechanism is complex. Leaders no longer carry suitcases of cash to Swiss banks. The money is hidden behind legal entities. This is why beneficial ownership transparency is crucial. Each entity has real owners — often powerful figures — hidden behind layers of trusts and shell companies.”
He said this is why TI Bangladesh is pushing for the adoption of the draft beneficial ownership bill.
“Offshore centres — Singapore, Dubai, Hong Kong — play a role, as do poorly regulated cryptocurrency platforms.
“Contrary to the hype, cryptocurrencies are often used to launder dirty money because they obscure ownership before being converted back into dollars, pounds, or euros for investment in luxury real estate, cars, or capital markets.
“This doesn’t create value. Stolen public money could fund health, education, or infrastructure, but instead it inflates property prices in London or Paris. It even harms citizens in recipient countries while undermining global development goals.”
Valérian reiterated that all anti-corruption bodies, including the ACC and the judiciary, must remain free from political interference. Appointment and oversight processes for civil servants, investigators, and judges, he said, must ensure independence throughout the system.
“This was a clear demand of the citizens who risked their lives last year. They did not sacrifice to return to a system of partisan manipulation.”