The office of General Inspector in Iraq Ministry of Planning and Development said that 146 companies and contractors were added to their black list for submitting falsified documents, according to Al SumariaTV. Meanwhile, 4 employees were suspended for submitting false documents. An official source from the General Inspector's office said that it reassessed the official […]
Tag Archives | Corruption
The latest corruption news from Iraq – company or government bribes, theft, stealing – brought to you by Iraq Business News
Rafidain Bank statement mentioned that the official memo signed by Al-Yassery said: Basing on the work necessities and getting the approved agreements, it is decided to start working with the bank; all Iraqi official and private banks have the right to deal with Werkaa too.
Last month, on the occasion of Rafidain Bank’s 69th anniversary celebration, the chairman reported that the bank was looking forward to implementing its new IT system “as soon as possible.” The system, which includes the Mysis products “Bankmaster” and “Branchpower,” is supposed to increase efficiency and reduce operational risk by bringing together information throughout the […]
On March 10, the Central Bank of Iraq (CBI) announced that the privately-owned Iraqi banks will be required to increase capital to ID 250 bn (USD 213 mn) over the next three years. Each bank will have to reach an initial capital target of ID 100 bn by the end of the first year and […]
Three managers of state-owned Iraqi banks have been arrested on suspicion of using bogus transfers to siphon off billions of dollars of government money to invest in private business.
The charges against Sudani and others has to do with the $5.3 billion food ration system, the largest in the world, that the Trade Ministry controls.
The lack of a comprehensive and stand-alone metering system at Iraq’s oil production chain has been a longstanding problem, allowing crude and refined products smuggling operations to sustain political militias during the past years.
French oil giant Total said Tuesday it has been charged with corruption and influence-peddling relating to the United Nations' Iraqi oil-for-food programme of the 1990s.