Experts call for hiring international companies to recover our stolen money
The first 09/11/2023
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Baghdad: Hoda Al-Azzawi
The recovery of looted assets and funds inside and outside Iraq is one of the most important requirements that must be met in accordance with the United Nations Convention against Corruption, Chapter Five. Iraq established and legislated the “Money Recovery Fund,” and its law at the time included funds looted by the previous regime and smuggled through... Individuals and business companies registered in the names of individuals, after which Iraq obtained a UN Security Council resolution calling on countries to help Iraq recover its looted funds, including international banks.
The expert in the field of anti-corruption, Saeed Yassin Musa, said in an interview with “Al-Sabah” that “Iraq suffers from a legal gap in recovering assets after 2003. This is accompanied by the spread of financial and administrative corruption, which is protected by political corruption and the mechanism of forming the structure of the governance management system through quotas.” Sectarian and ethnic groups, which provided an environment for exploiting influence by attacking public funds and inflating funds for a specific category of the structure of the governance system.”
He stated, “After analyzing the environment, it appeared that Iraq is in dire need of legislating a law to recover looted funds inside and outside Iraq. The mechanisms are clear in recovering funds at home, but the challenge is how to recover assets and funds looted from abroad,” explaining, “Here we are faced with two dilemmas; The first is to complete investigations and issue a final ruling for the majority of the accused who fled outside the country.
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