Baghdad: Adel Al-Rikabi, a member of the Sadiqoun parliamentary bloc, has unveiled substantial corruption within the National Investment Commission, highlighting numerous tainted files. The revelation came during an interrogation session with the commission's head in the Council of Representatives, which was conducted in absentia.

According to Iraqi News Agency, Al-Rikabi disclosed on the program 'Al-Mashhad' that over the past five months, significant violations have been documented in Iraq's investment sector. These findings raise concerns about the integrity of investment dealings, as multiple files within the commission have been identified as corrupt.

Al-Rikabi pointed out that some investment projects have adversely impacted both the state and its citizens. He cited disputes over the Rixos project in the Green Zone as a prominent example, noting the problematic nature of transferring state financial assets via investments that offer little benefit. The issuance of investment licenses without adherence to legal protocols further compounds these issues.

The discrepancies extend to the real estate sector, where investing companies reportedly sell properties at exorbitant prices while leasing land from the commission at minimal costs. Al-Rikabi criticized the commission's head for succumbing to pressures and allowing violations to persist.

A notable controversy involves the Sustainable Baghdad Forests project, where the implementation period was requested to be extended from 10 to 15 years by the Council of Ministers. Additionally, the Al-Rasheed Camp investment, slated for execution after 15 years, has been linked to Imkanat Company, which allegedly serves as a front for Yazan Mishaan, though Al-Rikabi claims it is associated with other individuals.

Al-Rikabi also highlighted irregularities concerning the Police Martyrs Fund land, which was improperly registered as freehold ownership by Ataa Al-Maali General Contracting Company without an investment license. The Ministry of Interior has initiated legal action to nullify the title deed, while the judiciary examines the case of the land's allocation to Ataa Al-Maali Company, implicating both the Investment Commission and the Real Estate Registration Directorate.

In another instance of alleged misconduct, Al-Rikabi stated that the South Korean Hanwha Company completed 30% of the Basmaya residential complex using Iraqi funds, with the Investment Commission reportedly disbursing funds to Hanwha outside regulatory frameworks.