Iraq hosts international conference on recovery of looted funds

BAGHDAD — In cooperation and coordination with the Arab League, the Iraqi Ministry of Justice organized a two-day international conference in Baghdad focusing on the recovery of “looted funds”, with the participation of Arab League Secretary General Ahmed Abul Gheit and a number of justice ministers from Member States.

The conference ended with several recommendations and outputs submitted to the Executive Office of the Council of Arab Ministers of Justice and to the United Nations Office on Drugs and Crime, the most prominent of which were:

• The formation of an international bloc to work with the countries that shelter looted funds and assets.
• The establishment of international courts specializing in the subject of recovery and the issuance of data on states that refuse to provide assistance.
• Speeding up the activation of the U.N. and Arab conventions against corruption while giving importance to the provisions on the recovery of funds.
• Work to find non-traditional means of recovering funds, combating corruption, and taking advantage of Arab cooperation mechanisms.
• Promote bilateral agreements between states in the area of money recovery and anti-corruption.
• Take advantage of the work of government teams and professional experts provided by the United Nations through its competent offices for recovery.