Iraqis look at antiquities on display in Baghdad in February 2022 after they were returned by a private museum in Lebanon. AFP
Iraqis look at antiquities on display in Baghdad in February 2022 after they were returned by a private museum in Lebanon. AFP
Iraqis look at antiquities on display in Baghdad in February 2022 after they were returned by a private museum in Lebanon. AFP
Iraqis look at antiquities on display in Baghdad in February 2022 after they were returned by a private museum in Lebanon. AFP

Iraq complains to Interpol as it seeks return of looted artefacts


Mina Aldroubi
  • English
  • Arabic

Iraq has filed a complaint with Interpol as it seeks to mount pressure on several states to return looted artefacts, the Ministry of Culture said on Monday.

The country, the birthplace of the world's earliest civilisation in recorded history, is home to thousands of artefacts. Some have been lost over the years have yet to be found.

“The case is ongoing and we have had excellent achievements in favour of returning Iraqi antiquities,” said ministry spokesman Ahmed Al Alawi.

The ministry said it has a plan in place on how to recover the stolen artefacts.

“There is a recovery operations group that includes some foreign states that are working alongside the ministry,” Mr Al Alawi said.

For decades, the war-torn country has struggled with the widespread theft of its antiquities and ancient paintings.

The looting began when the government lost control of the south in 1991 after the First Gulf War, and continued during the security vacuum that emerged after the US led invasion of 2003.

According to Mr Al Alawi, lootings often happen when “pieces are stolen from museums or from random excavations, which is the major problem the ministry is facing”.

After the fall of Baghdad in April 2003, looters entered the Iraqi National Museum, stealing thousands of priceless pieces and damaging many of the ceramics and pottery artefacts.

Iraq has about 15,000 registered archaeological sites, said Mr Al Alawi. However, unregistered sites are double that number.

“Some residents of remote areas, in co-operation with thieves, are excavating these areas and extracting ancient pieces,” he said.

People then smuggle the antiquities and sell them abroad.

“There are strict laws that carry the death penalty for smugglers of antiquities,” said Mr Al Alawi.

In early 2021, Iraq received more than 17,000 ancient artefacts, most of them from the US. The relics, dating as far back as 4,000 years, were looted from Iraq and sold on the black market mainly after the First Gulf War.

Among them was an antique clay tablet bearing a portion of the Epic of Gilgamesh, the oldest known surviving piece of literature.

For years, experts and officials have said that Iraq’s rich cultural heritage is being lost at “unprecedented rates” as a result of war and conflict between rival groups.

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A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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Watford v Bristol City

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Brighton v Crystal Palace

Bournemouth v AFC Fylde or Wigan

Coventry v Stoke City

Nottingham Forest v Arsenal

Manchester United v Derby

Forest Green or Exeter v West Brom

Tottenham v AFC Wimbledon

Fleetwood or Hereford v Leicester City

Manchester City v Burnley

Shrewsbury v West Ham United

Wolves v Swansea City

Newcastle United v Luton Town

Fulham v Southampton

Norwich City v Chelsea

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AT4 Ultimate, as tested

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Group A: UAE, Spain, South Africa, Jamaica

Group B: Bangladesh, Serbia, Korea

Group C: Bharat, Denmark, Kenya, USA

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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.”

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Updated: October 31, 2022, 10:38 AM