INTEGRITY REVEALS DETAILS OF THE FIRST AMENDMENT OF IRAQ FUND

2019-08-07 | 03:38

The Commission on Integrity, announced on Wednesday, the issuance of the first amendment to the Law of the Fund for the recovery of Iraqi funds No. (9) for 2012 after its approval by the House of Representatives and the approval of the President of the Republic on 18/7/2019.
The Commission said in a statement received by Alsumaria News, that "the law canceled the text of Article (3) of it and replaced by a text that explained that the Fund is managed by a board of directors chaired by the President of the Commission on Integrity and membership of the Director General of the Recovery Department in the Commission (member and deputy), and the membership of representatives of In addition to the Central Bank of Iraq, the Federal Bureau of Financial Supervision, the National Intelligence Service, and the Supreme National Authority for Accountability and Justice, with the rank of Director General and specialists, with the placement of an employee of not less than a director with specialties in the ministries and authorities mentioned. To work for the Fund. "

She explained, "The law, which was published in the newspaper (the Iraqi facts), the number (4550 on 5/8/2019) explained that the purpose of the fund to recover the funds of Iraq after 2003, and to encourage collaborators, and give broader powers to manage it," pointing to "abolition The text of Article ( has been replaced by a text confirming that the meetings of the Board of Directors of the Fund are held monthly by a majority of its members. The President of the Fund shall issue instructions stating how the decisions and the work of the Fund shall be taken, and a text including the submission of a report by the Fund Board to the House of Representatives every three months. The Ministers shall be subject to the abolished Article (7). "

The Commission added: "The provisions of a number of Article (4) provisions have been deleted and replaced by others that include exempting the collaborators with the Fund by 25% and up to $ 5 million of the recovered money up to a maximum limit, provided that the approval of the Council of Ministers for more than that. 10% of the amount recovered as a reward for the informer does not exceed five million dollars, while Article (11), as amended, affirms that the rewards will not be disbursed until the restored funds are deposited in the Ministry of Finance account.

She pointed out that "the amendment canceled the first paragraph of Article (5) and was replaced by a text dealing with the formation of the Audit, Investigation and Investigation Committee chaired by the Director General of the Integrity Commission and includes representatives from the ministries of Foreign Affairs and Justice, the Central Bank of Iraq and the Federal Financial Supervision Bureau and the National Intelligence Service, Any of them is less than an expert or a specialist.

"A number of articles have been added to the law, such as Article 13, which affirms the Fund Board's support for the Integrity Commission with the information it has in order to recover Iraq's money smuggled because of corruption after 2003, and Article 14, which obliged the government to conclude agreements." Investment or economic agreement with any country that has funds to Iraq covered by the provisions of this law to conclude agreements with those countries to recover the funds, in addition to Article (12) concerning the appointment of a judge of the first class judge to deal with cases related to the functions of the Fund.


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