Shafaq News- Baghdad

Iraq’s Federal Integrity Commission, the country's anti-corruption watchdog, has launched an investigation into contracts signed by state-owned banks in recent years and the loans and advances granted to companies and investors, an informed source told Shafaq News on Tuesday.

The review will scrutinize exceptional grants and special approvals for loans and advances, assessing whether they complied with applicable regulations and identifying the authorities responsible for the decisions. Investigators will also examine documents, guarantees and financing procedures, as well as repayment status.

The source said the findings would determine any legal or administrative responsibility if violations or irregularities are established, as part of efforts to strengthen oversight of public funds and detect potential misuse or waste.

In August, Prime Minister Ali Al-Zaidi ordered the formation of a specialized Federal Board of Supreme Audit team to review designated government contracts before they are signed, describing inflated project costs as a major source of corruption.

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