Specialists: Recovering looted funds requires international cooperation

[size=52]Specialists: Recovering looted funds requires international cooperation[/size]

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Baghdad: Muhannad Abd al-Wahhab

Specialists in the “Stolen and Smuggled Fund Recovery Fund” in the Commission of Integrity stated that the recovery of funds depends on the principle of international cooperation and solidarity and under the umbrella of legal frameworks and agreements between countries, indicating that these funds, which amount to tens of billions of dollars, include smuggling before and after 2003.
The Director General of the Recovery Department and Vice President of the “Iraq Funds Recovery Fund” in the Integrity Commission, Moataz Faisal Al-Abbasi, said in an interview with “Al-Sabah”: “The fund faced many challenges, including the lack of a budget until mid-2021, and during the period of its establishment it was able to recover from Jordan 65 thousand dollars in cooperation with the competent and legal authorities, in addition to the recovery of nearly 12 million euros from Spain in cooperation with the competent legal authorities.
He pointed out that "the fund was able, with another effort, to recover nearly $26 million from Germany in cooperation with the competent authorities," noting that "there is a United Nations convention against corruption at the international level and the Arab Convention against Corruption, and their mechanisms stipulate how to recover and obtain money."
For his part, the Director of the Administrative and Financial Authority of the Integrity Commission, Basem Jassem, stated in an interview, that “Iraq is a member of the International Anti-Corruption Convention and is very serious in combating corruption within the framework of Arab and foreign action to return the looted funds,” explaining that “the Arab Anti-Corruption Agreement is within its umbrella.” The Iraqi Integrity Commission represented by the Recovery Department and the Money Recovery Fund, therefore, the Commission is serious about its work to return the looted funds through diplomatic means.
 and others.”
He added that "a lot of the looted money was returned to Iraq in cooperation with the Arab League protocol represented by the International Police, and a group of smuggled money was returned, and the Law of the Recovery Fund allows the informant and the holder of the money to return it."
He explained that "the most cooperating countries with Iraq in returning its looted money are the countries surrounding it, and there is no clear size and accurate statistics for these funds because they were registered in fictitious names during the time of the former regime," and indicated that "the recovery of money is not only related to cash, but to real estate, stocks and companies, i.e. It's two kinds of money smuggled through
Persons".
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