Iraqi Anti-Corruption Committee recovers $764 K in financial misconduct case
Shafaq News/ On Tuesday, the Iraqi Supreme Anti-Corruption Committee announced the recovery of one billion IQD ($764 K)to the state treasury,representing a portion of the total funds involved in a case of misconduct by a department of the Ministry of Trade, which unlawfully opened an account at a private bank.
Under the directives of the Committee's President, who emphasized the need to recover the full amount, one billion dinars were retrieved and deposited into the Ministry of Trade's Export Support Fund. This amount was transferred from the United Investment Bank via a check issued by Al-Rasheed Bank on July 11, 2024. The total recovered in this case amounts to 22 billion IQD ($16,808 M).
The statement further detailed that the Export Support Fund had deposited 69 billion IQD ($52,716 M)in the United Investment Bank in violation of Central Bank regulations. Upon requesting the funds, it was discovered that no money was available as bank officials had invested it. Consequently, the investigation led to the arrest of the former Director General of the Export Support Fund and other suspects.
