Iraq to host conference to recover stolen funds

BAGHDAD

Iraq will host a conference later this month on the recovery of its stolen assets, according to a local official on Sunday.

The conference on Sept. 15-16 will be attended by Arab justice ministers with a view to bolstering Arab efforts to fight corruption and recover Iraq’s stolen money, Mohammad Rahim Al-Rubaie, the head of Al-Nahrain Foundation for Transparency and Integrity, told the state-run Al-Sabah newspaper.

Iraq hopes that the event will come out with recommendations to the Council of Arab Justice Ministers to activate Arab cooperation protocols to recover Iraq's funds stolen in the aftermath of the US invasion in 2003.

Iraq is one of the most Arab countries affected by corruption and embezzlement of public funds since 2003.

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.

Writing by Ahmed Asmar in Ankara