Iraq’s central bank freezes assets of senior officials in anti-graft sweep

Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) has ordered the immediate freeze of moveable and immovable assets for political figures, parliamentarians, and former officials as part of a comprehensive judicial anti-graft effort.

Following security operations, the CBI asked all licensed commercial banks to restrict transaction flows, confiscate properties, and disclose accounts associated with the targeted individuals in accordance with Anti-Corruption Investigative Court guidelines.

Financial institutions must compare client account activity to official monthly government salaries to identify abrupt asset increases or excessive wealth buildup.

Monitoring procedures apply directly to bank accounts held by spouses, intimate family members, and close business partners to prohibit the use of third-party front businesses for asset concealment.

This step is part of a countrywide anti-graft campaign led by Prime Minister Ali al-Zaidi’s government. The campaign, known as “Operation Dawn,” aims to expose deeply rooted financial corruption among Iraq’s crucial ministries.

The Iraqi prime minister’s legal advisor, Munir Haddad, revealed in early July that more than $2 trillion have been stolen from Iraq since 2003.

According to the Iraqi News Agency (INA), Haddad stated that the number of suspects continues to increase as investigations with the arrested ones are ongoing.

The countrywide anti-corruption campaign resulted in the arrests of several lawmakers and senior officials, as well as the recovery of millions of dollars, gold, luxurious cars, and real estate.