With documents and names … Nouri al-Maliki’s gangs control Iraq’s banks and plunder currency auctions to finance Iran and Hezbollah

Al Arabiya exposes Iran’s militias controlling the oil money and the “Central Bank”

 in a report full of terrifying details, which shows a terrible face of corruption in Iraq and the extent to which Iran’s gangs are able to control the scene in Iraq, and control bank money. A professional investigative report published by Al-Arabiya exposed Iranian men who seized billions of dollars and seized them daily and with the launch of hard currency auctions.

And “Al-Arabiya..Net” revealed in its report, which was re-published by the “Baghdad Post,” because of its great importance.

It seems remarkable the changes that have occurred in high-ranking positions, including that of the governor of the Central Iraqi Council, Ali Al-Alaq, and the appointment of Mustafa Ghaleb as his successor!

This change in a high-level financial position indicates anything, as it indicates the extent of corruption that has permeated the top of the hierarchy of the Iraqi economy and its financial and banking institutions.

The “Al Arabiya” report revealed a large network of Iraqi businessmen and banks that acquired the so-called foreign currency sale window in the Central Bank of Iraq.

So it becomes clear, and with the documents that we will review, that they are shell companies belonging to Iraqi people loyal to Iran that obtain dollars supported by the Iraqi Central Bank under the pretext of importing goods and goods to Iraq.

But how is this done?

Sources describe the “currency auction window” in Baghdad as a gateway to corruption for the flow of money into Iran and financing its militias with Iraqi oil money. The Central Bank of Iraq, after obtaining oil revenues, sells dollars to Iraqi civil banks, which in turn sell them to Iraqi companies according to requests to import goods and goods. .

The paradox here is that part of these import requests are “fake and fraudulent,” meaning that the dollar is sold at subsidized prices to banks by means of a “currency auction”, without goods being imported in return, so that these funds are transferred to exchange companies related to Iran, or the terrorist organization ISIS, despite It has been subjected to US and international sanctions.

$ 200 million … Iraqi Central Sales daily

In addition, this matter is considered a violation of the Federal Budget Law of the state in 2015, which set the sales of the Central Bank of Iraq at 75 million dollars per day, but today the amount ranges as an average between 150 – 200 million dollars, which is approximately 3 times the estimated amount specified in the law, and this is what it shows The results of the foreign currency sale window published by the Central Bank on its official website. 

It is noteworthy here that the Iraqi Federal Court later canceled 8 paragraphs of the financial budget for the year 2015, including Article 50 for determining a ceiling for central bank sales, which was subjected to severe criticism at the time by members of the Finance Committee.

MP Magda Al-Tamimi considered that the decision is a blow to anti-corruption efforts in government departments at the time, in the year 2015.

When checking the private banks that receive subsidized dollars for their receipt to Iraqi merchants, we find that nearly half of the banks that participate in the currency sale window supervised by the bank The Iraqi Central Bank belongs to personalities loyal to Iran or close to political figures affiliated with Iran, and this is what brings them huge profits.

1- Al-Huda

Bank, Al-Hoda Bank was prevented from auctioning previously in 2015 by the Central Bank of Iraq due to legal violations.

One of the documents prepared by the late head of the Iraqi Parliament’s Finance Committee, Ahmad Chalabi, shows how the Hoda Bank owned by Hamad Al-Mousawi (who is close to former Prime Minister Nuri al-Maliki , Iran’s political ally), in the period between 2012-2015, bought something worth 6.5 One billion dollars for 3 money transfer companies are:

1- Al-Tayeb Money Transfer, which was founded and managed by Hamad Al-Mousawi himself.

2- Al-Mahaj Money Transfer, owned by Hassan Nasser Al-Lami (close to Iran).

3- Iraqna for Financial Transfer, it later turned to Al-Rawahil Company for Investment and Finance, and then the Central Bank canceled its license due to legal violations.

It is to be noted here that, recently, the Supreme Judicial Council / Baghdad Rusafa Federal Court of Appeal demanded, on 8-8-2019, to lift Hamad al-Mousawi’s immunity for the crime of appropriating money in another case.

Oil dollars fund ISIS

It was later revealed through the documents that the Al-Mahaj Money Transfer Company had dealt with Al-Rawi Exchange Company to transfer amounts of no less than $ 547 million during the year 2014 only, according to Chalabi.

The biggest surprise is that Al-Rawi Exchange Company was subjected to sanctions in April 2019 by the US Treasury Department, due to its funding of terrorism.

According to the US Treasury Department report, the six individuals who have been blacklisted constitute the main strength of what is known as the “network of narrator”. They are Mushtaq Talib Zughair Al-Rawi, an Iraqi citizen residing in Belgium, who leads the network’s operations in Turkey and Iraq, in addition to To his son and two brothers, along with two other relatives.

The US Treasury Department’s statement indicates that, as of November 2017, Mushtaq Al-Rawi supervised the transfer of funds to ISIS using the remittance network across Iraq and Turkey where ISIS salaries were paid in Syria.

The Iraqi Central Bank denied .. and account statements proving the opposite,

in its central role, he denied any relationship between the Al-Mahaj Financial Transfer Company and Al-Rawi Exchange Company, so that the response came quickly from the Finance Committee in the Iraqi Parliament, showing account statements for bank transfers made between the diaspora and the narrator, as the documents show below.

But more than that, as a document we obtained issued by the Iraqi Ministry of Trade / Companies Registration Department showed that nearly half of the sums that were sold from the window of sale of foreign currency during the period from 1/1/2014 to 2/28/2015 did not specify the parties. Obtained as 29 companies out of 32 are not registered in the Companies Registry.

2- Bank across Iraq:

In this bank, the relationship between Hamad Al-Mousawi and Hassan Nasser Jaafar Al-Lami (close to Iran) who owns this bank, and also the owner of the Al-Mahaj Money Transfer Company, which has been suspected of dealing with Al-Rawi Exchange Company (accused of financing ISIS by the International Coalition), is evident. He later changed the name of Al-Muhaj Financial Transfer Company to the Islamic Holding Bank.

3- Noor Iraq Islamic Bank is also

owned by Hassan Nasser Jaafar Al-Lami, it was under the tutelage of the Central Iraqi in 2012 and then it was lifted in 2014. The

funny thing is, in the case of this bank, that on 31-10-2019 the Central Bank prevented it from auctioning the currency after placing it on List of international sanctions and its inclusion on the blacklist.

Nevertheless, a document we obtained shows that this bank was granted a certificate of appreciation by the stock market on 2/16/2020, despite its inclusion on the US sanctions list.

The matter does not stop at this point. Rather, the Central Bank of Iraq excluded it from dealing in other currencies, other than the dollar, until further notice, according to the decision issue number: 3/3/436 and the date of 10/31/2019, in circumvention of international sanctions.

4- Middle East Islamic

Bank: This bank was banned from selling currency in 2015, owned by Ali Muhammad Ghulam (close to Iran) and managed by Haider Ghulam, as it dealt with fake money transfer companies, according to the document issued by the Finance Committee in the Iraqi Parliament.

He owned the Al-Nada Company for Financial Transfer, which, through the currency sale auction, managed to achieve profits and to acquire shares of Al-Sharq Bank in 2012. He dealt with Afaq Al-Mustaqbal Company, which was subjected to US sanctions for its dealings with terrorism.

It should be noted that Ali Muhammad Ghulam owns the Al Ansari Islamic Bank and is also a participant in the window of currency sale.

5- Islamic World Bank

It is owned by Saif al-Din Saad Hashem, nicknamed (Saif Badir) and is close to the former central bank governor Ali Al-Alaq and Nuri al-Maliki, according to Iraqi sources.

He is a partner of Ali Ghulam in the Elaf Islamic Bank, knowing that Elaf Al-Islami was previously included on the American blacklist for his cooperation with the Iranian Export Development Bank in 2012 and raised in 2013 during the era of former US President Barack Obama, where that stage was known as the stage of negotiations and “flexibility.” By Obama that preceded the signing of the Iranian nuclear deal.

For your information, the Parliamentary Economic Committee was conservative in the relationship of the Iraqi Central Bank with the Islamic World Bank and called for non-discrimination in classifying banks and granting them privileges.

Saif Badir also owns a stake in Al Janoub Islamic Bank, which also participates in the window selling the currency.

And there are unconfirmed reports in Iraqi newspapers that Saif Badir is one of the suspects who were arrested in the recent detention campaign in Baghdad.

6- The Iraqi Union Bank

also, this bank was banned from auctioning currency in 2015, its owner is the brothers Aqeel and Ali Muften, who are close to Nuri al-Maliki, and their bank was offered in 2016 to seize $ 200 million by the US Federal Reserve, as part of a $ 6 billion transfer to the owner of Al-Hoda Bank Hamad Musawi, close to Nuri al-Maliki

Notably, however, they have close ties with Maliki through Ali Al-Alaq, the former governor of the Iraqi Central Bank.

7- The Economy Bank for Investment

was under the tutelage of the Central Bank of Iraq in 2014 for a period of 3 years, until the tutelage was lifted from it on 10/2/2017

It is owned by Saadi Waheeb Sihoud, Adilah, a close confidant of Nur al-Maliki, Hasan Al-Sunaid.

8- Erbil Bank is

owned by Fayed Abdul Amir Hassoun Al-Waeli, who is suspected of smuggling hard currency from Baghdad to Erbil and then to Turkey by land.

According to the documents of the Finance Committee in the House of Representatives, in 2012, 2013, 2014, the bank carried out transfers with Turkish companies in favor of money transfer companies owned by the owners of the same bank. Fayed Al-Waili also owns the Islamic Qurtas Bank, which is also included in the window of currency sale.

9- The United Investment Bank,

part of its shares is owned by Hassan Nasser Jaafar Al-Lami, while 40% of the shares belong to Fadel Al-Dabbas.

And here it must be noted that in November 2018, the Central Bank of Iraq decidedPutting the United Bank for Investment under trusteeship.

According to Iraqi sources, Fadhil Al-Dabbas, a relative named Haitham Al-Dabbas, is the Chairman of the Board of Directors of the Noor Iraq Islamic Bank, which is owned by Hassan Al-Lami.

10- Al-Ataa Islamic

Bank is the former Islamic Bank of the country, its name has been changed to Al-Bid Bank, and a new board of directors was appointed after US sanctions were imposed on it from the Treasury, on charges of financing Hezbollah, but it is strange that the bank is still practicing its functions and participating in the window of currency sale.

Its ownership belongs to Aras Habib, who is loyal to Iran, who is listed on the blacklist, and was under guardianship by the Central Bank and was removed from it on 11-12-2019. He was also prevented from dealing with other institutions in US dollars due to international sanctions, but the Central Bank of Iraq excluded him from dealing in other currencies until further notice, according to Decision No. 436/3/9 dated 31/10/2019.

Iraq on the list of money laundering and terrorist financing risks

since September 2016, the European Union has placed Iraq on the list of high-risk countries related to money laundering and terrorist financing. Even when the Iraqi Foreign Ministry requested that the name of Iraq be removed from this list, the European Union rejected this request, indicating that it might do so in October .. However, Iraq must achieve all the necessary criteria to join these countries.

Observers described the Al-Arabiya report as a huge scandal that proves how Iran seized millions of dollars annually through its men’s banks, led by the criminal Nuri al-Maliki.

Al-Kazemi becomes required to stop the currency auction, close the looting pipe, and finance Iran’s gangs.


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4 thoughts on “With documents and names … Nouri al-Maliki’s gangs control Iraq’s banks and plunder currency auctions to finance Iran and Hezbollah

  1. So where does this leave us? Are we dead in the water? Is the exchange off the table til this is resolved? Where is the QFS while this took place? God Bless you dear one.


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