Iraqi Financial Official Involvement of Embezzling 360 Million Dollars
|September 22, 2013||Filled under Featured Article|
Iraqi official source revealed yesterday about the involvement of an official of the Ministry of Finance of embezzling 400 billion Iraqi dinars ($ 360 million) of loans granted by domestic banks.
The source, who asked not to be named, said that “the Rafidain Bank granted earlier, the amount of 689 billion dinars in loans to a number of private banks,” noting that “after changing the bank manager retrieved 289 billion dinars of those loans.” He added that “the current management of the Bank is trying its best re-remaining amounts of loans amounting to 400 billion dinars,” adding that “investigations proved the involvement of an official of the Ministry of Finance of embezzling this amount.”
The phenomenon is referred to the administrative and financial corruption rampant in Iraq at the end of the era of the former regime, and the percentage increased after 2003 in various departments and ministries of Iraq, where the long-corruption counts a number of senior state officials and senior officers in the army now.
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