Iraq Recovers $13 Million in Frozen Funds from French Banks Through Integrity Efforts

The Federal Commission of Integrity announced on Thursday the recovery of $13 million in Iraqi funds held in French banks due to judicial decisions, which have now been returned to the state treasury. A statement from the commission clarified this achievement stemmed from efforts by the Iraq Fund for Recovery of Funds. It noted the operation succeeded due to intensive follow-ups and procedures by the Fund, in close coordination with relevant international and local authorities. Mohammed Ali Al-Lami, Chairman of the Fund's Board of Directors, confirmed the recovered amount was deposited into the Iraqi Ministry of Finance accounts after completing necessary procedures and direct coordination with Arab Bank Switzerland. Al-Lami described the recovery as a "new achievement" bolstering the Fund's efforts to track and retrieve Iraqi assets from abroad. He stressed ongoing diligent work and coordination with authorities to reclaim all state funds and assets for the public treasury. The statement highlighted that the successful recovery of $13 million demonstrates the effectiveness of meetings and follow-ups by the Fund's Chairman (also Head of the Federal Commission of Integrity). These occurred during his participation in the government delegation with Prime Minister Ali Faleh Al-Zaidi on his recent visit to France, aligning with comprehensive efforts to safeguard state funds and reclaim financial rights abroad.