Exclusive: Iraq advances key law to recover state funds from corrupt individuals, politician says

Exclusive: Iraq advances key law to recover state funds from corrupt individuals, politician says
2024-10-03T11:38:59+00:00

Shafaq News/ On Thursday, a member of the Iraqi Integrity Committee, Youssef Al-Kalabi, announced the completion of the second workshop for refining the Law on Recovery of State Funds from Corrupt Individuals.

Al-Kalabi told Shafaq News Agency, "The law is considered one of the most important laws in the House of Representatives."

"This law addresses the legislative gaps in the process of recovering, seizing, and accessing funds,” he added. “The committee has hosted representatives from many departments and state institutions, including the Federal Board of Supreme Audit, the Supreme Judicial Council, the Integrity Commission, the Bar Association, and others."

Moreover, Al-Kalabi pointed out that the committee is working diligently and extensively to legislate the Law on Recovery of Smuggled Funds, especially since some of these funds have been converted into assets, real estate, and trade. "When a recovery order is issued, it becomes evident that the corrupt individual's funds have significantly increased."

The committee member confirmed, "The House of Representatives has completed the first reading of the law and will submit a report to complete its second reading, with plans to vote on it before the end of the current legislative session."

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