Iraq Takes New Legal Measures to Recover Looted Funds

Iraqi President Barham Salih announced a mechanism to retrieve stolen state money (AFP)
Iraqi President Barham Salih announced a mechanism to retrieve stolen state money (AFP)
TT

Iraq Takes New Legal Measures to Recover Looted Funds

Iraqi President Barham Salih announced a mechanism to retrieve stolen state money (AFP)
Iraqi President Barham Salih announced a mechanism to retrieve stolen state money (AFP)

Iraqi President Barham Salih revealed on Wednesday new legal measures to recover the looted funds from Iraq.

Since 2003, a year after the ouster of Saddam Hussein, almost $250 billion of Iraqi public funds has vanished.

In a televised interview on Wednesday, Salih said that the presidency intends to introduce a code of conduct to put in place mechanisms to recover the stolen money, which may have gone abroad.

"Corruption is dangerous and needs serious mechanisms to tackle it," he added, noting that despite major challenges, a number of rulings took place regarding corruption cases before.

Salih stressed that striking financial corruption was essential to establishing security.

He further highlighted the importance of holding fair elections in which Iraqis feel reassured that their "votes are protected and their decisions are respected."

His announcement came as the Supreme Council, which was formed by Iraqi Prime Minister Mustafa Al-Kadhimi, is still exerting efforts to combat corruption.

While it charged several officials in corruption cases, the council is investigating with others who worked in various Iraqi institutions and ministries.

In this regard, economist Basem Jamil Antoun told Asharq Al-Awsat newspaper that the new legal measures adopt certain criteria to assess the professional behavior of concerned parties.

Regarding means to recover looted funds, Antoun said that international and local efforts are needed to recover funds smuggled abroad.

Part of the funds vanished under Saddam’s rule, while the other part is linked to the post-2003 phase, he noted.

Antoun said that the stolen funds are estimated at $250 billion, however, he noted that there are no exact figures.



Palestinian President Urges Hamas to Hand over its Arms

Palestinian President Mahmoud Abbas waves while walking on the day he holds a leadership meeting in Ramallah, in the Israeli-occupied West Bank, April 23,2025. REUTERS/Mohammed Torokman
Palestinian President Mahmoud Abbas waves while walking on the day he holds a leadership meeting in Ramallah, in the Israeli-occupied West Bank, April 23,2025. REUTERS/Mohammed Torokman
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Palestinian President Urges Hamas to Hand over its Arms

Palestinian President Mahmoud Abbas waves while walking on the day he holds a leadership meeting in Ramallah, in the Israeli-occupied West Bank, April 23,2025. REUTERS/Mohammed Torokman
Palestinian President Mahmoud Abbas waves while walking on the day he holds a leadership meeting in Ramallah, in the Israeli-occupied West Bank, April 23,2025. REUTERS/Mohammed Torokman

Palestinian President Mahmoud Abbas called on Hamas on Wednesday to cede responsibility for the Gaza Strip, hand over its arms to the Palestinian Authority and turn itself into a political party.
Hamas has refused calls in recent months by Israel and the United States to lay down its arms.
Abbas made his remarks in a speech during a meeting in the West Bank city of Ramallah at which he is expected to name a successor, part of efforts to answer international doubts over the Palestinian Authority's viability at a critical moment for the region.
"Hamas must hand over (its) Gaza responsibilities and hand over its arms to Palestinian Authority and transform into a political party," Reuters quoted Abbas as saying.
Abbas has criticized the Hamas-led attack on Israel on October 7, 2023, which he said gave Israel a pretext to destroy Gaza. Israel launched its military campaign against Hamas in Gaza after the Hamas-led attack.
Hamas, which opposes Abbas' efforts at peacemaking with Israel, has accused him of cracking down against militant factions in the Israeli-occupied West Bank. It did not immediately comment on Abbas's new remarks.
Abbas urged world leaders to compel Israel to end the war in Gaza, pull put its forces and end the activities of Jewish settlements, adding that there can be no peace until the Palestinians establish a state in the borders that were in place before the 1967 Middle East war.