Central Bank of Iraq Freezes Assets of 12 Individuals Under Court Order
The Central Bank of Iraq (CBI) has instructed licensed banks and financial institutions to freeze the movable and immovable assets belonging to 12 political figures and current and former officials, pursuant to a judicial order issued by the Central Anti-Corruption Criminal Investigation Court.
The list includes current and former members of parliament, as well as a former government adviser. The CBI instructed banks and financial institutions to implement the order and notify the relevant judicial authorities of any accounts, funds, and assets associated with the individuals covered by the decision.
The measure forms part of the legal process for investigating cases related to anti-corruption efforts and reflects the Central Bank’s role in implementing judicial decisions through the banking sector.
According to reports, the asset freeze covers bank accounts, deposits, funds held by financial institutions, and other property falling within the scope of the court order.
Such measures require banks to strengthen customer due diligence procedures and closely monitor asset freeze and seizure orders, enhancing cooperation between financial institutions and judicial and regulatory authorities in the fight against financial crime.