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The Stolen Funds Recovery Conference recommends the formation of an international bloc to urge the countries custodians of smuggled assets to cooperate and to identify the countries that abstain from them

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The Stolen Funds Recovery Conference recommends the formation of an international bloc to urge the countries custodians of smuggled assets to cooperate and to identify the countries that abstain from them

Thursday 16 September 2021 20:31 | political   Number of readings: 155

Baghdad / NINA / -
The Federal Integrity Commission disclosed the outcomes and recommendations of the International Conference on the Recovery of Stolen Funds held in Baghdad for the period from 15 to 16/9/2021, explaining that the conference came out with a number of important recommendations,

the most prominent of which was the demand to form an international bloc; To urge the countries custodians of the smuggled assets to cooperate and to identify the countries that abstain from them.

In the final statement of the conference, held under the auspices of Prime Minister Mustafa Al-Kazemi and in the presence of the Secretary-General of the League of Arab States (Ahmed Aboul Gheit), and Arab judges and ministers of justice, the head of the Commission, Judge Alaa Jawad Al-Saadi, stated that the purpose of its meeting was to find the best and easiest ways to recover the looted funds from Arab countries.

As a result of the rampant corruption in some institutions of those countries, and the implementation of the procedures for establishing an international judiciary specialized in corruption and money recovery issues,

pointing out that what is stolen and wasted from the looted money is the people’s money and not the money of the rulers and ruling regimes,

pointing out that the constitutional principles that Arab states include Protect the wealth of future generations and preserve it from tampering.

And he stressed the keenness of the Republic of Iraq, by holding this conference, to benefit from the best and beneficial global and Arab experiences in the field of combating corruption, especially the file of recovering smuggled funds, in which scientific research and research papers presented in its themes and sessions addressed the methods of treatments, and what are the ways to be followed.

In order to gain access to the looted funds that the political influence managed to cover up, and to provide safe havens for them in some countries under the headings, including: investment and other forms such as money laundering and laundering.

He noted the best experiences presented during the conference in recovering funds, through which they discussed the method of criminal prosecution of the corrupt, the administrative methods used in bilateral agreements between states, and ways to resort to civil justice;

To demand the recovery of money laundered through fraud, and to prosecute the corrupt who have caused damage to public facilities by committing corruption crimes.

The activities of the second day of the conference sessions witnessed a review and discussion of a group of research and working papers submitted to the axes of (the Iraqi experience and international cooperation in the field of looted funds recovery) and (international experiences and practices in recovering looted funds).

The sessions of the first axis were chaired by the Vice President of the Federal Integrity Commission, Dr. ( Mazhar Turki Abd), and to enrich the two axes; They were presented with research, studies and working papers,

including the research paper submitted by the Director-General of the Recovery Department at the Commission, Dr. (Moataz Faisal Al-Abbasi), tagged (the Iraqi experience and international cooperation in recovering looted),

during which he discussed the experience of the Iraq Funds Recovery Fund, reviewing the contents of the Iraqi experience in recovering funds.

The convicts, and the accompanying successes and difficulties, as well as the papers contained in the two axes that shed light on the best Arab and international experiences in recovering money and convicts and prosecuting the proceeds of corruption.

He stressed that the conference, which is an important regional initiative in the field of anti-corruption and money recovery, came out with a number of recommendations, including:

International pressure conglomerate industry; To work with the countries that are custodians of looted funds and assets, and whose refusal to cooperate is confirmed in accordance with the provisions of Chapter Five of the UN Convention against Corruption;

In order to push it to cooperate to return the money and the convicted persons, provided that the bloc seeks to use all national and international procedures, including the formation of international courts specialized in the issue of recovery, and

the issuance of a bulletin on countries that refrain from providing assistance, as well as emphasizing the principle of good faith in implementing international legal obligations in The field of recovering looted funds, and what is required for the return of illegally obtained funds and assets to the country requesting recovery, and

the assistance of international research institutions concerned with the recovery of looted funds, and

the assistance of international research institutions and legal offices to obtain technical support in the field of recovering looted funds,

expediting the activation of the provisions of the two UN conventions And Arabic to combat Corruption with importance given to provisions related to money recovery,

finding unconventional means in the matter of money recovery, combating corruption,

benefiting from Arab cooperation mechanisms and confiscation not based on criminal convictions,

encouraging the conclusion of bilateral agreements between countries and calling on the Arab Center to prepare indicative models for these agreements.
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