Iraq's anti-corruption body opens probe into state bank contracts

BAGHDAD, Iraq — Iraq's Federal Integrity Commission has launched a wide-ranging investigation into a series of contracts signed at state-owned banks in recent years. The inquiry covers the procedures and legal compliance surrounding how the agreements were concluded, the commission said. Officials said the review also extends to bank loans and advances extended to the companies and investors that were party to the contracts. Investigators are examining exceptional authorizations and special approvals for the disbursement of credit and advances, checking whether they conformed with applicable regulations. The commission said documents, guarantees and financing methods presented as part of the audit will be reviewed, and the fate of the loans and advances will be tracked alongside compliance with repayment conditions. The probe aims to identify the units that issued the relevant decisions. If irregularities or overreach in authority are found, the commission said legal and administrative responsibilities will be determined. The body added that the audits are part of broader efforts to strengthen public financial oversight and ensure the proper use of state resources.