The European Union (EU) in their final report regarding the 2023 Presidential Election of the Maldives has stated that the campaign finance lacks transparency and oversight, contributing to the absence of financial accountability of political actors.

The report noted that while the EC is responsible for receiving financial reports, they do not have the power and capacity to investigate candidates’ income and expenditures in detail.

It further recommended to clarify the institutional responsibility for campaign finance oversight and enforcement and strengthen the respective bodies, including the ECM, by providing capacity building and resources in this field.

"The financial penalties for overspending and for failures in reporting are insignificant, however, with minor monetary sanctions provided for in the law for non-compliance. The payment of fines, first imposed following a by-election in April 2023, has not been enforced," the report added.

They also recommended to enhance the accountability of political parties and election candidates, revise and close gaps in the legal framework regulating campaign finance.