Ministry of Trade money in a private bank: IQD 129 billion deposited by the Export Support Fund and the Grain Trading company, and a 2026 sentence (from 2023 to 2026)
On 10 April 2023 the Integrity Commission said a judge of the Central Anti-Corruption Criminal Court had summoned two directors general of the Ministry of Trade. The director general of the ministry's Export Support Fund had opened a current account in a private bank and deposited IQD 69 billion of collected fees there, against the rules, although the ministry had a government account at Rasheed Bank. A former director general of the State Company for Grain Trading had opened an account in the same bank and deposited IQD 60 billion. A statement of the Higher Commission for Combating Corruption, quoted by Al-Aalem Al-Jadeed, named the fund's director general as Sarmad Taha Saeed and the bank as United Bank for Investment, and the head of the fund's committee sued the bank's authorised manager for not transferring the money to the ministry's account. On 22 June 2023 the head of the Integrity Commission said IQD 15 billion of the 69 billion had been recovered and that the private bank had used the money in its own investments. On 11 June 2026 the Karkh Criminal Court sentenced the former Grain Trading director general and a company employee in person to three years.
- Period
- From April 2023 to June 2026
- Sector
- Trade and food securityMinistry funds held outside the state bank (Export Support Fund, State Company for Grain Trading)
- Kind of case
- Criminal prosecution
- Jurisdiction
- Federal Iraq
How the money moved
Public revenues and company funds moved from the ministry's account at a state bank into current accounts at a private bank, contrary to the rules; the bank then did not return the money in full.
What happened
The former Grain Trading director general and an employee sentenced in person to three years (11 June 2026); IQD 15 billion recovered by June 2023 and further sums later, according to the Commission; no outcome is on record for the Export Support Fund director general.
Open questions
- How much of the IQD 129 billion has been returned.
- Outcome of the summons of Sarmad Taha Saeed and of the lawsuit against the bank's authorised manager.
- Who approved the deposits and when they were made.
People and companies
| Name | Role in the case | Legal status | Detail | As of |
|---|---|---|---|---|
| Former director general of the State Company for Grain Trading sentenced in June 2026 (not named) المدير العام الأسبق للشركة العامة لتجارة الحبوب المحكوم في حزيران 2026 (لم يُذكر اسمه) | Former director general, State Company for Grain Trading | Convicted (reported) | Summoned on 10 April 2023 by a Central Anti-Corruption Criminal Court judge for opening a current account in the same private bank and depositing IQD 60 billion there. On 11 June 2026 the Integrity Commission said the Karkh Criminal Court (third panel) had sentenced the company's former director general and a company employee in person to three years under Article 340 for opening an account in a bank and depositing tens of billions of dinars of ministry money there, and that parts of the money had been recovered. | 19 October 2026 |
| Employee of the State Company for Grain Trading sentenced in June 2026 (not named) موظف في الشركة العامة لتجارة الحبوب حُكم في حزيران 2026 (لم يُذكر اسمه) | Employee, State Company for Grain Trading | Convicted (reported) | Sentenced in person with the former director general to three years by the Karkh Criminal Court (third panel) on 11 June 2026 under Article 340 in the bank account case (Integrity Commission). | 19 October 2026 |
| United Bank for Investment مصرف المتحد للاستثمار | Private bank that held the deposits of the Export Support Fund and the Grain Trading company | Accused by an official body | A statement of the Higher Commission for Combating Corruption, quoted by Al-Aalem Al-Jadeed, linked the summons of the Export Support Fund's director general to very large cash deposits with United Bank for Investment, and the head of the fund's committee, Adel Khudair Abbas, sued the bank's authorised manager before the Karrada court of first instance for not transferring the money to the ministry's account at Rasheed Bank. On 22 June 2023 the head of the Integrity Commission said, without naming the bank, that the private bank had taken the IQD 69 billion into its own investments and that IQD 15 billion had been recovered. No charge against the bank is on record as of 19 October 2026. | 19 October 2026 |
| Sarmad Taha Saeed سرمد طه سعيد | Director general of the Export Support Fund, Ministry of Trade; later assigned to the State Company for Trading Construction Materials | Under investigation | On 10 April 2023 the Integrity Commission said a judge of the Central Anti-Corruption Criminal Court had summoned the fund's director general under Article 340 for opening a current account in a private bank and depositing IQD 69 billion of collected fees there against the rules, although the ministry had a government account at Rasheed Bank. A statement of the Higher Commission for Combating Corruption, quoted by Al-Aalem Al-Jadeed, named him and said the summons was served on him on 11 April 2023. No later outcome is on record as of 19 October 2026. | 19 October 2026 |
Sources
- Alsumaria News10 April 2023Official statement reported by the mediaTier B
النزاهة تستقدم مديرين عامين في وزارة التجارة
Original addressالمدير العام للصندوق قام بإيداع مبالغ الجباية البالغة (69,000,000,000) مليار دينارٍ في المصرف الأهلي
- Shafaq News10 April 2023Official statement reported by the mediaTier B
استقدام مسؤولين في وزارة التجارة لارتكابهما مخالفات مالية
Original addressأصدر أمر استقدامٍ بحقِّ المدير العام للشركة العامَّة لتجارة الحبوب سابقاً؛ لقيامه بفتح حسابٍ جارٍ في المصرف ذاته، وإيداع مبلغ (60,000,000,000) مليار دينار فيه
- Al-Aalem Al-Jadeed15 April 2023Official statement reported by the mediaTier B
تورط مصرف المتحد للاستثمار باختلاس مبالغ مالية لصندوق دعم التصدير
Original addressاستقدام (سرمد طه سعيد) المُدير العام لدائرة صندوق دعم التصدير في وزارة التجارة المنسوب حالياً إلى الشركة العامَّة لتجارة المواد الإنشائيَّة
- Shafaq News22 June 2023Official statement reported by the mediaTier B
النزاهة تعلن استرداد أكثر من 55 مليار دينار من صفقتي فساد إحداها بوزارة التجارة
Original addressإسترداد 15 مليار دينار من أصل 69 ملياراً ... المصرف الأهلي استحوذ على هذه الأموال وتصرف بها في عملياته الاستثمارية
- Alsumaria News11 June 2026Official statement reported by the mediaTier B
النزاهة: السجن 3 سنوات لمدير عام سابق بوزارة التجارة
Original addressصدور قرار حكمٍ حضوريٍّ بالسجن لمُدَّة ثلاث سنوات بحقّ المدير العام للشركة العامة لتجارة الحبوب سابقاً، على خلفية مخالفاتٍ تتعلَّق بفتح حسابٍ مصرفيٍّ
- 964 Network11 June 2026Official statement reported by the mediaTier B
فتح حساباً وأودع فيه المليارات.. السجن 3 سنوات لمدير عام سابق بوزارة التجارة
Original addressبالسجن حضورياً لمدة ثلاث سنوات بحق المدير العام السابق للشركة العامة لتجارة الحبوب في وزارة التجارة، وموظف آخر