MP: Corruption is the main reason behind foreign investment reluctance towards Iraq

MP Mohammed Hadi affirmed on Monday that the primary reason for the country’s collapse is the rampant corruption within all state institutions.

Hadi told the Information Agency, “Corruption is the foremost driver of the destruction of nations, as it plunders their budgets, dismantles their educational and health institutions, and drives away foreign investment due to the lack of financial security.”
He added, “The solution to ending corruption begins with enforcing the rule of law and holding the corrupt accountable,” noting that “Prime Minister Ali al-Zaidi’s move to arrest a large number of major figures involved in corruption is a positive step in reducing the extent of corruption permeating all state institutions.”

Earlier, MP Qusay Abbas affirmed that the Iraqi Parliament fully and unequivocally supports any legal measures taken by the government, the Integrity Commission, and the judiciary to eradicate corruption and prosecute those involved in squandering public funds. He stressed the necessity of enforcing the law and ensuring just retribution for any individual proven guilty, regardless of their position or influence.

Almaalomah.me

Blow up the big heads… Has the battle to break immunities begun in Baghdad?

The Iraqi scene is witnessing one of the broadest anti-corruption campaigns since 2003, after the confessions of former Deputy Oil Minister Adnan al-Jumaili became the starting point for wide-ranging investigations targeting officials, members of parliament, directors general, and prominent political figures. Security operations are expected to continue for the next 72 hours, and dozens of officials have been barred from leaving the country. Official sources maintain that all procedures are based on judicial orders and within legal frameworks.

Reports indicate that the campaign is no longer limited to executing arrest warrants against those accused of corruption, but has entered a new phase aimed at dismantling corruption networks extending within state institutions, after al-Jumaili’s confessions led to the exposure of new names and cases that are now under investigation.

Al-Jumaili’s Confessions: A Turning Point.

In this context, MP Qusay Abbas confirmed to Al-Maalomah that the anti-corruption campaign should not exclude any entity or individual. He stressed the necessity of including officials in the Kurdistan Region in the investigations, given that the Kurdish component is a key partner in governing the country and holds senior ministerial and administrative positions, particularly in vital sectors. He emphasized that any individual suspected of corruption should be investigated regardless of their political or partisan affiliations.

Abbas added that the recent arrest warrants were not issued arbitrarily, but rather based on precise evidence and what he described as high-quality confessions made by the convicted Adnan al-Jumaili. These confessions contributed to uncovering new leads that expanded the circle of those accused in corruption cases.

A 72-Hour Campaign

According to a source close to Prime Minister Ali Falih al-Zaidi, speaking to Al-Maalomah, the current security operations will continue for 72 hours, extending until the Prime Minister’s visit to the United States on July 17th.
The source explained that the campaign will expand to Baghdad and several other provinces, with new arrests of individuals accused of corruption. He noted that airports and border crossings have been provided with the names of 64 officials against whom travel bans have been issued to prevent any suspects from fleeing the country.
He confirmed that the investigations are linked to corruption cases involving former Deputy Minister of Oil Adnan al-Jumaili, as well as cases related to the Director General of the Electricity Distribution Company, Alaa Samir, in addition to cases within the Ministries of Industry, Education, Interior, and Defense.

Organized raids under judicial supervision.

In contrast, Uday Abdul-Hadi, a member of the coordination framework, emphasized in a statement to Al-Maalomah that all raids conducted in the Green Zone and other areas of Baghdad were carried out based on official arrest warrants and a well-planned security strategy. He stressed that the operations were not random but targeted individuals whose names appeared in files related to suspected financial and administrative corruption.

He noted that security efforts are ongoing, making it premature to announce the final tally of arrests. He emphasized that the fate of all detainees will be decided exclusively by the Iraqi judiciary based on evidence and confessions, and that the current proceedings represent a purely legal procedure, devoid of any political considerations. Former MP Yasser al-Husseini described the campaign as a “unique revolution” unprecedented in Iraq since 2003, considering the current battle against corruption to be the first to target influential figures from diverse political backgrounds.

Al-Husseini confirmed to Al-Maalomah that the campaign will not be seasonal or temporary, but rather a long-term confrontation due to the sheer volume of accumulated corruption cases. He pointed out that the diverse political affiliations of those arrested reflect the state’s seriousness in pursuing those involved without discrimination.

According to informed sources, the first phase of the campaign focused on executing arrest warrants within the Green Zone, before later extending to the Yarmouk, Qadisiyah, Shaab, Madina, and Zayouna districts, with support from the Counter-Terrorism Service, Military Intelligence, and the Special Forces.

The sources explained to Al-Maalomah that the raids included searching the homes of the accused, where large sums of money were found in several of them, in addition to the confiscation of vehicles and other assets. The operations were conducted under the supervision of Judge Diaa Jaafar of the Second Karkh Investigation Court, which specializes in integrity cases, and Raed Fadel, Director General of the Investigations Department at the Integrity Commission.

They added that eight suspects were arrested inside the Green Zone, while ten others managed to leave before the arrest warrants were executed.
The investigations have expanded to include two prominent political figures in connection with files related to southern border crossings, as well as their connection to the Adnan al-Jumaili case. According to official sources, the investigations have resulted in arrest warrants for a number of current and former members of parliament and officials, including Muthanna al-Samarrai, head of the Azm Alliance, MP Alia Nassif, and several other members of parliament, in addition to Ali Ma’araj, Undersecretary of the Ministry of Oil for Distribution Affairs, and Ibrahim al-Sumaida’i, an advisor to the former Prime Minister, as well as directors general and other officials.

In another development, Abdul Rahman al-Jaza’iri, head of the National Oath Movement, revealed that corruption in Iraq has accumulated over many years, confirming that an international tribunal will convene on October 1st to examine corruption cases related to various ministries.

He indicated that granting Adnan al-Jumaili broad powers in recent years necessitates a comprehensive investigation to uncover all the circumstances, arguing that previous governments failed to take genuine action against senior officials despite the existence of significant corruption cases, which allowed protection networks for those involved to persist.

A new phase has begun, and recent developments reflect the shift of the anti-corruption campaign into a more sensitive stage. Investigations have expanded, and the number of those facing prosecution has increased. Authorities maintain that all procedures are based on judicial orders and documented evidence. Meanwhile, the Iraqi public awaits the outcome of the investigations in the coming days, wondering whether the campaign will succeed in reaching all those involved and recovering public funds, free from any political or partisan considerations.

Almaalomah.me

Al-Jalabi: The arrests by the Reconstruction and Development Party are a devastating blow to the Sudanese coalition.

Zuhair al-Jalabi, a member of the State of Law Coalition, confirmed on Monday that the arrest campaign targeting a number of prominent political figures, including members of the Reconstruction and Development Coalition led by former Prime Minister Mohammed Shia al-Sudani, on corruption charges, represents a devastating blow to the coalition.
Al-Jalabi told the Information Agency, “The arrests, which included approximately eight prominent figures from the Reconstruction and Development Coalition, as well as other alliances such as the Azm Alliance headed by Muthanna al-Samarrai, on corruption charges, represent a devastating blow to their alliances, potentially leading to their collapse.”

He added, “The lofty rhetoric adopted by some alliances, including al-Sudani’s coalition, regarding combating corruption, especially during the election period, completely contradicts the reality on the ground. The arrest campaign launched by Prime Minister Ali al-Zubaidi against some prominent political figures involved in corruption has exposed the falsity of those lofty slogans.”

It is reported that the arrest campaign launched by Prime Minister Ali al-Zaidi included eight prominent members of the Reconstruction and Development Coalition, on charges related to corruption and embezzlement of public funds.

Almaalomah.me

Parliament is expected to convene in early July to decide on nine ministerial portfolios in al-Zidi’s government.

Member of the Coordination Framework, Uday Abdul-Hadi, predicted on Monday that a session of the Council of Representatives would be held during the first week of July to vote on nine ministerial portfolios in Ali al-Zaidi’s government.

Abdul-Hadi told Al-Maalouma, “There is political support for completing the formation of Ali al-Zaidi’s government from the forces within the Coordination Framework, in coordination with the other political forces and movements.” He anticipated “a session of the Council of Representatives in the first week of July to vote on the candidates for nine ministerial portfolios, in order to complete the remaining cabinet positions.”

He added that “next week will witness an important round of political meetings, especially among the forces within the Coordination Framework, to finalize the choices regarding the candidates’ names, particularly for the sovereign ministries.” He indicated that “expectations point to reaching a comprehensive agreement that will lead to holding the parliamentary session and voting on the candidates for the nine ministerial portfolios.”

Almaalomah.me

Al-Zaydi announces the date for “monopolizing weapons” and reveals a settlement with those involved in corruption.

Iraqi Prime Minister Ali al-Zaidi affirmed on Monday that his government is committed to ending the proliferation of weapons outside the state’s control and combating corruption. He announced the convening of a “National Sovereignty Conference” at the end of this year to enshrine the state’s monopoly on force, while also revealing a plan to reach legal settlements with those involved in corruption cases in exchange for the return of looted funds.

Al-Zaydi said in an interview with the newspaper “Al-Sharq Al-Awsat”, which was reviewed by Shafaq News Agency, that the decision to combat corruption is “final and irreversible”, stressing that corruption has become a threat to the existence of the Iraqi state, and that those who entered state institutions with the aim of stealing “no longer have a place.”

He added that the government is working to end the system of corruption and close that chapter, stressing that “there is no place for corruption, and no place for weapons outside the state.”

He explained that the government will announce at the end of this year the “National Sovereignty Conference,” which will enshrine the monopoly of force in the hands of the state and its security apparatus only, stressing that “there will be no entities carrying weapons outside the framework of the state.”

In the file of recovering funds, Al-Zaydi revealed that the Minister of Finance had directed the opening of a special account to return the looted funds, indicating that the government is moving towards a settlement with those who return the corruption funds, while preserving the rights of Iraqis in accordance with the law and the confidentiality of the procedures, while warning that those who refuse to return the funds “will have a different stance from the government.”

On foreign affairs, the Prime Minister stressed that “Iraq comes first, and nothing precedes the interest of Iraqis,” noting that the country’s interest requires building distinguished relations with the international community, neighboring countries, and the Arab Gulf states.

Al-Zaydi’s statements come in conjunction with a campaign of arrests targeting political officials, members of parliament, and businessmen as part of the anti-corruption campaign, which al-Zaydi described, during a cabinet session, as the “first phase” of broader measures to recover public funds, while tasking oversight bodies with receiving any indications related to cases of corruption or negligence in state institutions.

Shafaq.com

11,000 Brazilian calves arrive in Iraq via Syria

The Syrian General Authority for Ports and Customs announced on Sunday evening that 11,000 calves had entered Iraq through the Al-Tanf border crossing after passing through the country’s territory in transit.

According to a statement issued by the authority and seen by Shafaq News Agency, this step is an indication of the growing transit movement, with the increasing number of commercial convoys loaded with various goods, using Syria as a main route.

The authority explained that the convoy of calves came from Brazil and entered Syria through the port of Tartus, and the total number of heads that will take the same route will reach approximately 50,000 heads.

She explained that the passage of these convoys reflects the growing confidence that border crossings and seaports are gaining as a pivotal logistics hub on regional trade routes, in addition to their growing role in supporting transport and trade.

The General Authority for Ports and Customs confirmed that it provides all customs facilities for the passage of transit trade convoys, to facilitate their arrival at their final destination smoothly and safely.

Shafaq.com

After 24 hours, the anti-corruption campaign in Iraq raises its tally to 67 detainees.

A security source revealed on Monday that the number of detainees in the anti-corruption campaign launched by the Iraqi authorities had risen to 67 during the first 24 hours.

The source told Shafaq News Agency that among those arrested were politicians, members of parliament, and employees, who were detained on charges related to financial corruption, squandering of public funds, and illicit enrichment.

He added that a large number of wanted people were able to escape or hide inside the country, but that strict security measures prevented any of them from leaving Iraq.

This tally comes about 24 hours after the start of one of the largest campaigns to pursue those accused of corruption in Iraq in years, which has targeted deputies, politicians, officials, employees and business owners, in conjunction with tightened security measures in Baghdad and other provinces.

An informed source revealed to Shafaq News Agency on Sunday that the campaign, in its first phase, targets more than 200 figures within 72 hours, as part of a broader six-month campaign to combat corruption and recover public funds.

The source explained at the time that the campaign included senior officials, party leaders, political forces, former and current agents, and business owners, some of whom were suspected of acting as fronts for money laundering or passing on illicit contracts and benefits.

The campaign coincided with the deployment of special forces and the counter-terrorism unit inside the Green Zone in central Baghdad, the closure of a number of its entrances and the imposition of strict inspection procedures, while the competent authorities confirmed that the execution of arrest warrants is carried out under the supervision of the judiciary and in accordance with legal procedures.

In his first comment on the campaign, Prime Minister Ali Faleh al-Zaidi said that what happened represents a first stage, stressing that the government will continue to fight corruption and recover public funds, and that it is tasked with protecting the interests of the Iraqi people, “and there will be no leniency in this responsibility.”

Al-Zaydi added that the situation “has become impossible to remain silent about, and that there are strong guardians of public funds.”

Al-Zaydi tasked the oversight bodies with receiving any indicators related to government performance or the performance of ministries, in order to uncover cases of corruption or negligence, noting that Iraq has gone through periods of wars, chaos and fighting terrorism, and that the government’s path today is based on strengthening the power of the state and its monopoly on force and weapons, and not allowing corrupt individuals to be within the body of the state with the aim of stealing public money.

Shafaq.com

Seven “urgent” questions to the Oil Ministry regarding US oil reserves.

On Monday, MP Hayam Al-Yasiri addressed an “urgent” parliamentary letter to the Ministry of Oil regarding media reports about supporting the US oil reserves with half a million barrels per day and establishing an energy and development fund with Washington, demanding answers to seven questions supported by documents within 15 days.

According to a document issued by Al-Yasiri’s office, published by Shafaq News Agency, the parliamentary question was based on Article (61/Second) of the Constitution, Articles (27/Third) and (29) of the House of Representatives Law, as well as Article (50) of the Council’s internal regulations.

The MP asked the Ministry of Oil to clarify the validity of the circulating statements, and whether an official decision had been issued regarding them by the Cabinet or the Ministry’s advisory body.

She also questioned whether the quantities of oil referred to were in addition to Iraq’s share in the “OPEC+” alliance, and whether they would be sold at the global price or under a special agreement.

The questions included the nature of the financial compensation, whether Iraq would receive the price of the oil in cash or in a barter arrangement in exchange for projects implemented by American companies, as well as the nature of those projects and their estimated costs in the event of adopting the barter arrangement.

Al-Yassiri also requested clarification on the approved export outlets, the oil companies that will undertake the implementation, as well as the project’s timeframe and the expected returns for Iraq from it.

She also inquired whether the Ministry of Oil had prepared an economic and technical feasibility study for the project, requesting that it be provided with answers and supporting documents within a period not exceeding 15 days.

Shafaq.com

Deposits and credit declined in Iraqi banks during 2026

Data from the Central Bank of Iraq showed a decline in total deposits and credit in the banking sector during the first four months of 2026.

According to bank data seen by Shafaq News Agency, total deposits in the banking sector decreased during the first four months to 104.727 trillion dinars by the end of April 2026, compared to 111.065 trillion dinars at the end of 2025, a decrease of 6.338 trillion dinars.

According to the data, central government deposits decreased to 31.517 trillion dinars compared to 36.497 trillion dinars at the end of 2025, and private sector deposits also decreased to 48.924 trillion dinars compared to 50.644 trillion dinars, while public institutions’ deposits increased to 24.286 trillion dinars compared to 23.924 trillion dinars.

In contrast, total credit reached 73.637 trillion dinars at the end of April 2026, down from 75.584 trillion dinars recorded at the end of 2025.

Credit was distributed as follows: 23.915 trillion dinars to the central government, 2.486 trillion dinars to public institutions, while the private sector accounted for 47.236 trillion dinars of total credit.

The data indicates a relative contraction in liquidity within the banking sector during the first four months of 2026, with a decline in both deposits and credit, which may reflect an expansion in government spending and a relative slowdown in credit activity.

Shafaq.com

Soon, Baghdad will host international figures: oil, electricity, and strategic partnerships.

Informed sources revealed on Thursday that important visits by international figures to Baghdad are expected, to conduct economic understandings that will bring mutual benefit to the parties concerned, just hours after reports spoke of the possibility of Iraq withdrawing from OPEC, and the repercussions of this decision on the global energy market.

A government source told Shafaq News Agency that “figures and representatives from some European Union countries will soon visit Iraq to reach understandings that achieve common interests, which will include presenting offers and economic partnerships in developing the energy sector in Iraq, including the oil and electricity sectors, in order to reach self-sufficiency and resolve the problem of supply hours.”

The source added that “among the proposed offers is the processing of associated gas and making the most of it in order to achieve self-sufficiency within a short-term plan not exceeding two years.”

He pointed out that “supporting electricity production, along with proposals to implement projects to increase storage capacity and to acquire a joint maritime fleet with important countries, including the United States, is being arranged, with the aim of expanding the volume of Iraq’s crude oil exports.”

Oil Ministry spokesman Salim al-Rikabi had hinted, in a comment seen by Shafaq News, at the possibility of withdrawing from OPEC if the production level allocated to Iraq is not increased in line with its production capabilities and future needs.

In this context, economic analyst Joel Rimmer, who specializes in the global stock market, revealed on Thursday the repercussions of Iraq’s exit from the Organization of the Petroleum Exporting Countries (OPEC) on the future of the global oil market, stressing that recent reports from Baghdad carried a message that said, “Either allow production to increase more freely or we will leave the organization.”

Reimer said in an analysis published on the MarketWatch website and translated by Shafaq News Agency that “Iraq’s threat to withdraw from OPEC appeared deliberate and intentional, and any progress in this direction will have major repercussions on the global oil market, as an increase in Iraqi production outside the quota system could put strong pressure on prices that are already witnessing a significant decline.”

According to the analyst, Qatar’s exit from OPEC in 2019 and the UAE’s withdrawal on May 1, 2026, did not pose a major threat to the organization, given that Doha was primarily focused on gas production, while the UAE’s production was only about 3.4 million barrels per day.

As for Iraq, the situation is different for it, as it is one of the founding members of the organization when it was established in 1960, and the second largest producer in it after Saudi Arabia, with a production of about 4.5 million barrels per day, according to him.

Reimer stressed that Iraq’s importance goes beyond its membership in OPEC, because the size of its production makes it a pivotal player in the global supply and demand equation, noting that the Iraqi position carries an indirect message to Saudi Arabia and the influential countries within the organization regarding Baghdad’s dissatisfaction with the current production ceilings imposed on it.

The US Energy Information Administration estimates that Iraq, if it ignores production quota restrictions, could raise its production to seven million barrels per day by 2029, an increase of more than 75% compared to current levels.

Reports also indicate that major American companies such as ExxonMobil, Chevron and Halliburton may be among the biggest beneficiaries of any anticipated investment expansion in the Iraqi oil industry.

Reimer concluded that OPEC losing a founding and major member like Iraq shortly after the UAE’s withdrawal could lead markets to question the organization’s ability to control or support oil prices when they decline.

The economic damage inflicted on the Gulf states by the war with Iran has created significant financial needs for reconstruction and investment, which may prompt some producers to demand an increase in their production quotas, raising the likelihood of a future oil supply surplus and increasing pressure on global prices.

Shafaq.com