Iraq's integrity commission has arrested many senior officials in the past, but many politicians escape investigation due to their affiliation with powerful political groups. AFP
Iraq's integrity commission has arrested many senior officials in the past, but many politicians escape investigation due to their affiliation with powerful political groups. AFP
Iraq's integrity commission has arrested many senior officials in the past, but many politicians escape investigation due to their affiliation with powerful political groups. AFP
Iraq's integrity commission has arrested many senior officials in the past, but many politicians escape investigation due to their affiliation with powerful political groups. AFP

Iraq issued 98 arrest warrants for government officials in October


Mina Aldroubi
  • English
  • Arabic

Iraq issued 98 arrest warrants for government officials last October, the country’s integrity commission said on Thursday, as corruption continues to blight the country after decades of conflict and instability.

The arrests included current and former ministers, undersecretaries and former deputies, as well as former and current governors and director generals of several ministries, according to a statement from the commission.

Nearly 18 years after the US-led invasion that toppled dictator Saddam Hussein, and with critical infrastructure still neglected, Iraq continues to suffer from rampant corruption amid shortages of electricity, water, schools and hospitals.

Iraq placed 160th out of 180 countries on Transparency International’s corruption perception index for 2020.

The country's integrity commission has arrested many senior officials in the past, but many politicians manage to dodge investigation due to their affiliation with powerful political groups that are able to exert pressure on the judiciary.

Some of Iraq's most powerful politicians have made fighting corruption their aim.

Last May, Iraqi President Barham Salih said nearly $150 billion was smuggled abroad from corrupt deals struck in 2019, and Prime Minister Mustafa Al Kadhimi launched an anti-corruption committee soon after he assumed office in the same month.

In a sign that the renewed focus on fighting corruption is beginning to bear fruit, a former deputy minister of electricity in Iraq was sentenced to six years in jail for corruption and mismanagement last week.

Iraq's Prime Minister Mustafa Kadhimi has set his sights on the country's corruption problem. AFP
Iraq's Prime Minister Mustafa Kadhimi has set his sights on the country's corruption problem. AFP

Raad Al Haris will also be fined $10 million after the Rusafa Criminal Court in Baghdad delivered the verdict, based on the findings of an investigation.

Al Haris received “financial bribes” and his conviction involved “the assignment of the electricity ministry’s project to affiliated sub-companies,” the court said in a statement.

Iraq hosted — in partnership with the Arab League — a conference to combat corruption and recover money looted by corruption last September. It focused on looted state funds and ways to regain them.

The UN envoy to Iraq, Jeanine Hennis-Plasschaert, stressed last year how corruption has taken over Iraq's state institutions and the need to overcome it.

“Corruption remains endemic, and its economic cost untold as it continues to steal desperately needed resources from the everyday Iraqi, eroding investor confidence,” she said, in an address to the UN Security Council.

The UN body has warned various times that poverty in Iraq is increasing daily by more than 10 per cent and that more than three million Iraqis do not have enough food.

Iraq's threatened marshland habitat — in pictures

  • A man paddles his boat at the Chebayesh marsh, Dhi Qar province, Iraq. All photos: Thaier al-Sudani / Reuters
    A man paddles his boat at the Chebayesh marsh, Dhi Qar province, Iraq. All photos: Thaier al-Sudani / Reuters
  • Iraq's 2020-2021 rainfall season was the second driest in 40 years, according to the United Nations.
    Iraq's 2020-2021 rainfall season was the second driest in 40 years, according to the United Nations.
  • The dry season causes the salinity of the wetlands to rise to dangerous levels.
    The dry season causes the salinity of the wetlands to rise to dangerous levels.
  • Buffalos drink less and produce less milk when the water quality drops.
    Buffalos drink less and produce less milk when the water quality drops.
  • Sabah Thamer al-Baher and his family are Marsh Arabs, the wetlands' indigenous population that was displaced in the 1990s when Saddam Hussein dammed and drained the marshes to flush out rebels hiding in the reeds.
    Sabah Thamer al-Baher and his family are Marsh Arabs, the wetlands' indigenous population that was displaced in the 1990s when Saddam Hussein dammed and drained the marshes to flush out rebels hiding in the reeds.
  • After Saddam Hussein was overthrown in 2003, the marshes were partly reflooded and many Marsh Arabs returned, including Baher's family.
    After Saddam Hussein was overthrown in 2003, the marshes were partly reflooded and many Marsh Arabs returned, including Baher's family.
  • In 2019, the government said five million cubic metres a day of raw sewage water were being pumped directly into the Tigris, one of the rivers that feed Iraq's marshes.
    In 2019, the government said five million cubic metres a day of raw sewage water were being pumped directly into the Tigris, one of the rivers that feed Iraq's marshes.
  • Iraq's neighbours are also suffering from droughts and rising temperatures, which has led to regional water disputes.
    Iraq's neighbours are also suffering from droughts and rising temperatures, which has led to regional water disputes.
  • Buffalo milk and bread is seen on a tray.
    Buffalo milk and bread is seen on a tray.
  • Men pray at the Chebayesh marsh.
    Men pray at the Chebayesh marsh.
  • Baher prepares animal medicine to give to a buffalo.
    Baher prepares animal medicine to give to a buffalo.
  • Children play at the Chebayesh marsh.
    Children play at the Chebayesh marsh.
  • Buffaloes wade in the water of the Chebayesh marsh.
    Buffaloes wade in the water of the Chebayesh marsh.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Trump v Khan

2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US

2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks

2019: Trump calls Khan a “stone cold loser” before first state visit

2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”

2022:  Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency

July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”

Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.

Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”

Retail gloom

Online grocer Ocado revealed retail sales fell 5.7 per cen in its first quarter as customers switched back to pre-pandemic shopping patterns.

It was a tough comparison from a year earlier, when the UK was in lockdown, but on a two-year basis its retail division, a joint venture with Marks&Spencer, rose 31.7 per cent over the quarter.

The group added that a 15 per cent drop in customer basket size offset an 11.6. per cent rise in the number of customer transactions.

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Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

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