Iraq Recovers $116m from Saddam Officials

Iraq has recovered $116 million [139 billion Iraqi dinars] from bank accounts in France belonging to an official from ex-dictator Saddam Hussein’s regime, the country’s Commission on Integrity said in a statement.

The Commission said the funds comprised $106 million deposited in ‘French Arab Union Bank’ (UBAF), a French-registered bank whose shareholders include 19 Arab banks and Credit Agricole, and the equivalent of $10 million in foreign currency deposited in several banks in France.

It said it had obtained the funds with the help of the US embassy in Baghdad.

The announcement comes after the anti-corruption watchdog’s former chief stepped down earlier this month, citing political interference in his work.

He slammed Iraq’s leaders following his resignation, describing graft as “part of the struggle for power” in the country.

(Sources: AFP, Commission on Integrity)

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