Iraq to Host Conference on Stollen Assets
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Iraq to Host Conference on Stollen Assets

ERBIL — Iraq will host a conference this month in hopes of finding a way to recover its stolen funds, an official said.

Huge Iraqi assets were stolen from the country after the US toppled the former Baath regime in 2003, which resulted in a period of political, security, and economic instability in the country.

Mohammad Rahim Al-Rubaie, the head of Al-Nahrain Foundation for Transparency and Integrity, told al-Sabah Newspaper that the conference is scheduled for 15-16 September.

It will be attended by Arab justice ministers who will discuss bolstering Arab efforts to fight corruption and recover Iraq’s stolen money, Anadolu Agency reported.

In May, Iraqi President Barham Saleh said $150 billion were smuggled outside Iraq via corrupted deals since 2003, a number that equals Iraq's budget for one year and a half.

Iraq is among the countries suffering the highest rate of corruption. It has massive national resources, but the political division and lack of strategic planning has left it as one of the most devastated countries in the region.

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