Asian donors swell Tory party coffers
UGANDA REFUGEE AMONG BACKERS AMID ONE LABOUR DONATION
AN INVESTMENT banker who came to the UK as a refugee from Uganda 50 years ago has donated £290,000 to the Conservative party in the past three months.
Malik Karim is the founder and CEO of investment banking firm Fenchurch Advisory.
He made five separate donations to the Tory party, including a single payment of £250,000 in July.
Karim served as the Tory party treasurer for just over a year, until last month. He is now believed to be an advisor on fundraising to the party chairman, Nadhim Zahawi.
Speaking at the Asian Business Awards in November, Karim revealed the “pain” of his family being forced out of their homeland by Idi Amin in 1972. He said it motivated him to become a successful entrepreneur.
“Neither of my parents were educated. Not everybody was a successful entrepreneur, a lot of people were very poor in Uganda,” he recalled.
“I would not have been educated in Uganda. Coming here, I think they (my parents) were determined that we maximise our opportunities through education.
“Even though they didn’t visualise what success looked like, it was important for them that we absolutely capitalised on education and took that opportunity and wherever it took us in life.”
He added: “Being a migrant, and being a refugee, you are always looking behind your shoulder as to the unintended bullet which is going to come at you and you never feel secure. The need to be financially successful, to have economic security, and to have options which comes with that, made me determined to achieve what I have.”
The Conservatives collected just under £3 million from July to September, but donations to the party fell by 40 per cent, according to figures from the Electoral Commission, which were released on Tuesday (6).
Prominent British Asian donors, however, continued to pour money into the Tory party.
Steel tycoon Anirudh Misra donated £50,000 in a single payment, while businessman Rashmi Chatwani gave £19,960 over two separate payments. Founder and CEO of accounting firm, Maxim World, Puneet Bhalla, donated £10,000 to the party in two separate payments.
Dr Anwara Ali, a former Conservative candidate for Harrow West, donated £9,999.
Other notable donations to the Tory party came from prime minister Rishi Sunak, who gave £5,046.82, while Tory peer Lord Dolar Popat donated £3,750 and economist Shankar A Singham gave £1,500.
A Tory spokesperson said: “The Conservative party only accepts donations from permissible sources, namely individuals registered on the UK’s electoral roll or UK-registered companies. Donations are properly and transparently declared to the Electoral Commission ... and comply fully with the law.”
The Labour party beat the Tories for the first time in a year with donations totalling £4.7m.
A Labour spokesperson said: “Donors are coming back to Labour because they can see we are a changed party that is serious about getting into government and building a fairer, greener, more dynamic Britain.
“We are very grateful for all support, large or small, as we gear up to fight the next general election.”
However, they received only one donation from a British Asian individual – Sandeep Maudgil, a partner at law firm Slaughter and May, who gave £10,000.
The Liberal Democrats received almost £1.3m in donations. Businessman Sudhir Choudhrie was among the donors with a payment of £1,000.