Due to suspicions of corruption, the bank accounts of leaders in the Progress Party have been frozen in Emirati banks.
Due to suspicions of corruption, the bank accounts of leaders in the Progress Party have been frozen in Emirati banks.
7-15-2026
Information/Baghdad…
A responsible source in Anbar province reported on Tuesday that the US Federal Reserve has instructed banks in the UAE to freeze all accounts belonging to Iraqi officials until further notice.
The source told the Information Agency that “the US Federal Reserve has instructed banks in the UAE to freeze the deposits of Iraqi officials, including the head of the Progress Alliance, Mohammed al-Halbousi, the Speaker of Parliament, Haibat al-Halbousi, and leaders from al-Halbousi’s party, until further notice. This coincides with the referral of a large number of officials to the Integrity Commission for their involvement in stealing large sums of money from the state treasury.” The source added that “Mohammed al-Halbousi and Haibat al-Halbousi possess a vast fortune in hard currency, estimated at more than $8 billion, acquired through smuggling oil out of Iraq.”
He continued, “The Halbousi brothers also possess vast sums of money in banks in Turkey and the Gulf states,” explaining that “Halbousi failed to convince the American administration to lift the freeze on his assets outside Iraq.”
He pointed out that “Halbousi and Hebat own, albeit undeclared, banks and exchange offices used in smuggling hard currency from Iraq to neighboring countries.”
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