Central Bank of Iraq Governor Nizar Naser Hussein met with Federal Integrity Commission head Mohammed Ali al-Lami to establish a joint task force aimed at combatting money smuggling and protecting public funds.

During the Thursday meeting, al-Lami congratulated the newly appointed CBI Governor, wishing him success in managing the country's monetary policy.

The CBI stated that the meeting featured an in-depth discussion on several vital matters of mutual interest.

Both officials stressed that institutional cooperation between the Central Bank and regulatory agencies is vital to safeguarding public funds and strengthening transparency across state institutions.

CBI and Integrity Commission Deploy Real-Time Data Sharing 

“In a strategic step to bolster financial security, the head of the Integrity Commission and the Governor of the Central Bank agreed to enhance joint coordination mechanisms,” the statement noted.

The joint mechanism aims “to dry up the channels of money smuggling and combat the challenges facing the financial system.”

The CBI highlighted that these objectives will be achieved by implementing proactive oversight and exchanging real-time data, which are fundamental to prosecuting corruption, tracking smuggled funds, and recovering illicit revenues within legal frameworks.

Hussein and al-Lami further underlined “putting the joint agreements into immediate execution and forming a coordinated working group to ensure closing any legal and procedural loopholes that could be exploited in financial operations.”

Iraq to Open Account for Seized Assets Amid Anti-Graft Crackdown 

The meeting comes as Prime Minister Ali Faleh al-Zaidi’s anti-corruption campaign has triggered a sweeping wave of high-profile arrests targeting current and former state officials.

The operation has so far resulted in the detention of over 60 lawmakers and officials.

During a regular session of the cabinet earlier this week, al-Zaidi affirmed that the campaign “represents only the first phase,” stating that the government will combat corruption and recover public funds to safeguard the interests of the Iraqi people and that “there will be no tolerance in fulfilling this responsibility.”

Earlier, Iraqi Government Spokesperson Haider al-Aboudi stated that a special bank account will be opened to deposit all funds seized during the anti-corruption crackdown.