In Bangladeshi politics, a crucial but often overlooked issue is the source of funding and the benefits derived from it. The financial aspect of politics typically revolves around legal spending limits and disclosed election expenses, sidelining the fundamental problem that money has become a key factor in political engagement.
Current regulations restrict parliamentary candidates to spending up to Tk 10 per voter, with a maximum cap of Tk 25 lakh based on the constituency’s electorate size. However, the 2026 election revealed a significant disparity between these limits and the actual campaign costs. Despite all 1,981 candidates collectively declaring campaign expenses just under Tk 400 crore, independent analysis indicated that the real cost of securing a nomination and running a competitive campaign far exceeded the legal ceiling. A study by Transparency International Bangladesh (TIB) in 2024 found that average candidate spending during elections is approximately six times higher than the prescribed limit.
While national elections occur every five years, political parties operate year-round, necessitating a continuous flow of funds for various activities such as maintaining offices, compensating activists, and covering ongoing expenses. However, the sources of funding for these activities lack transparency and proper accountability.
It is time to consider a reform that has been a topic of discussion in various circles but has never been implemented – public financing of political parties. Although initially met with skepticism, public funding should be viewed in the context of Bangladesh’s current reality, where financial resources dictate political access.
When political costs surpass legal limits, the additional funds typically come from affluent corporate and business networks seeking favors in return for their contributions. Securing a party nomination often hinges on financial transactions, where a candidate’s path to obtaining a party ticket relies on payments to party leadership. This practice has led to an influx of business figures in parliament, overshadowing grassroots candidates with genuine public backing and commendable track records.
Unregulated money with little transparency poses a threat to democracy. Past scandals like the Jack Abramoff case in the US highlighted how corporate funds could influence state policies through lobbying and campaign contributions. In India, the anonymity of corporate donations through electoral bonds was revoked by the Supreme Court in 2024, emphasizing voters’ right to know the sources of party funding.
Public funding has been a successful strategy in combating the influence of oligarchs in several European countries. By tying public funding to electoral performance and inclusive representation criteria, such systems promote social justice and equity.
Implementing public funding in Bangladesh presents challenges due to the existing socio-economic conditions and the prevalent patron-client political culture. Simply adopting foreign models without addressing local complexities and ensuring effective oversight may lead to unintended consequences. Therefore, careful planning and rigorous enforcement are essential for successful implementation of public financing, ensuring transparency and accountability within the political system.
Addressing corruption in political finance is crucial, given Bangladesh’s ranking as the 13th most corrupt country globally. Public funding aims to curb the influence of money in politics, shifting the focus from financial prowess to merit and public support in political candidacy selection. Ultimately, tackling the issue of money in politics is essential for a more transparent and democratic system.
