20 billion in 3 neighboring countries… Expected parliamentary action to recover looted funds and combat corruption
20 billion in 3 neighboring countries… Expected parliamentary action to recover looted funds and combat corruption
10-26-2026
Information/Special…
MP Abdul Amir Najm revealed today, Monday, the most prominent vital draft laws that the government is working to finalize and send to Parliament in the coming period. He indicated that foremost among them is the “Settlement and Recovery” draft law, which aims to activate mechanisms for recovering looted public funds and curbing financial and administrative corruption.
Najm told the Information Agency, “Parliament is awaiting the arrival of several important draft laws with oversight and financial dimensions from the government, most notably the Settlement and Recovery Law, which represents a qualitative legislative pillar to enable oversight and judicial bodies to pursue smuggled funds and those involved in stealing public money inside and outside the country.”
He added, “The enactment of this law will give the state greater flexibility and faster legal tools to recover stolen funds and reinvest them in the public treasury and development projects, and close the legislative loopholes that corrupt individuals have exploited over the past years to escape with looted funds.”
Najm explained that “the Parliamentary Integrity Committee is determined to give top priority to all legislation related to combating corruption and protecting national wealth as soon as it reaches Parliament,” stressing “the necessity of integration and high-level coordination between the legislative and executive branches to enact these stringent laws and put an end to those who encroach upon the livelihood of the Iraqi people.”
In this context, previous official statistics showed that final court rulings had been issued to recover public funds amounting to $20.48 billion, coinciding with the recovery of more than $25 million internationally over two years.
According to the data, oversight and judicial bodies, along with the Iraqi Funds Recovery Fund, were able to recover $379 million from abroad, $13 million from French banks, $9 million from Italy, and $3 million from Lebanon, in addition to recovering 19 billion dinars domestically.
The investigations also uncovered assets and funds under surveillance in neighboring countries, including $1.45 billion in Syria, $700 million in Jordan, and $193 million in Turkey. Rewards ranging from 5% to 10% were offered to informants and collaborators.
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