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Five mechanisms to return the looted funds of Iraq
Iraq 2023/05/06
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Muhannad Abdel Wahhab
Members of the House of Representatives identified five mechanisms and methods for recovering looted funds from Iraq, including cooperation with the international police "Interpol" and the appointment of specialized international companies. So far.
A member of the Finance Committee, Jamal Cougar, said in an interview with “Al-Sabah”: “The mechanisms used to recover the funds are carried out in the first way through the international Interpol, which is responsible for handing over the corrupt to the state that claims them, and the second method is through diplomacy and the state’s agreements with other countries, and it is not possible The state’s acceptance of the residence of the corrupt, opponents, or wanted persons of the corresponding state on its territory.”
And he indicated that "the third method of recovering money is through international companies that follow up such files and obtain a certain percentage in return for that, and the fourth method is done by communicating with the person who smuggled the amount and negotiating with him that if the smuggled amounts are returned, he and a specific percentage of the amount will be forgiven; for example, he will return
80%, and he is exempted from paying 20% without legal procedures against him, and this is also a followed mechanism.
And he continued, "And there is the fifth mechanism, which is to announce that whoever provides information about smuggled funds will be rewarded with a specific percentage of the amount, because the government does not know the exact size of the smuggled amounts," noting that "there are people who have knowledge of the smuggled amounts, and they are not obliged disclosed for free.
He pointed out that "these are the five mechanisms that the government can resort to to recover the smuggled sums," and Cougar stressed that "all previous governments failed to limit the amount of smuggled money and did not seriously open the issue, and the personalities who smuggled those sums were influential personalities in previous governments, and some of them It is still influential until now, and therefore the file was not opened as required, but rather it was just conversations, and as measures, the previous governments did not take any step towards this issue.
For her part, a member of the Parliamentary Integrity Committee, Alia Nassif, said in an interview with "Al-Sabah": "The Iraqi judiciary is trusted by citizens, and that the judiciary continues the procedures of financial corruption cases until it recovers the money of the Iraqi people."
She explained, "What is happening in the matter of (Nour Zuhair), from my point of view, are legal procedures, because the judiciary places a precautionary or temporary attachment on the real estate, and then when there is a ruling to recover the money, the precautionary seizure is lifted, and those real estate are sold and the people's money is recovered."
Iraqi."
In turn, the economist, Basem Jamil Antoine, said in an interview with "Al-Sabah" that "the money recovery committee has moved significantly recently to recover smuggled Iraqi funds, but the current regional and international conditions have limited the possibility of resolving many files in this field," noting that " The lack of agreements between Iraq and some countries in this field increases the difficulty of recovering the money.
He added, "Some smugglers of the smuggled sums of money have despicable methods and internal rules that limit the movements of the official authorities, so we need many specialized international law firms that take responsibility for the recovery process," noting that "some countries benefit from the presence of these smuggled sums in their banks, especially countries Neighborhood, and other countries do not give real numbers about the amount of that money, and I think that the US Treasury is moving greatly in this file, but there are great bargains to prevent the refund of the sums and their remaining abroad.
Antoine stressed that "recovering the looted funds requires real will, sincere intention, competence and sincerity, and that honest personalities be assigned to follow up on this file, as the corruption process has reached its peak, and thus the recovery process will be difficult, but not impossible."
Edited by: Muhammad Al-Ansari
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