Iraq's central bank orders asset freeze for politicians, former officials in corruption probe

BAGHDAD, Iraq — Iraq's central bank has ordered the immediate freeze of movable and immovable assets held by politicians, members of parliament and former senior officials as part of the country's anti-corruption campaign. The bank notified commercial banks and financial institutions to suspend transactions on the accounts of those targeted by the measure. The freeze is grounded in investigations being carried out by judicial authorities and investigative bodies, according to central bank officials. The directive is intended to prevent the assets from being transferred abroad and to control financial activity while the inquiries proceed. The Iraqi government recently launched a broad review into allegations of misuse of public funds and bribery. Under the central bank order, financial institutions that fail to comply will face legal penalties, officials said. The scope of the order and the list of names covered have not been made public, with the central bank citing the confidentiality of the investigations. No further details were immediately available.