Former Al-Rasheed Bank officials sentenced to six years for financial misconduct

Shafaq News/ The Iraqi Integrity Commission announced that an in-absentia prison sentence of six years has been handed down to two former officials of Al-Rasheed Bank in Kirkuk for causing financial damage to the bank’s funds and interests.

The Office of Media and Government Communication said in a statement that the Kirkuk Criminal Court issued the sentences against Najat Ali Jawad, the former manager of Al-Rasheed Bank in Kirkuk, and Saad Hassan Mousa, the former head of the bank’s operations department. “The officials were found guilty of deliberately releasing a deposit belonging to a commercial company without verifying the company’s fulfillment of contractual obligations, resulting in intentional damage to state funds and the interests of the institution.”

The court determined that the evidence presented was “sufficient and convincing for conviction.”

“The six-year prison sentences for both Jawad and Mousa were issued under Article 340 of the Penal Code. Additionally, arrest warrants have been issued, and relevant authorities have been notified to prevent the convicted individuals from traveling outside Iraq. Their movable and immovable assets have been seized, and the complainant has been granted the right to seek compensation through civil courts once the judgment is final.” The Commission said.