BAGHDAD — More than 3.68 trillion Iraqi dinars — about $2.54 billion — along with $333 million has been returned to the public treasury since the introduction of the unified treasury account system, the Finance Ministry said Wednesday.
The ministry said 3,743 zero-balance bank accounts have been closed under the reforms, which aim to improve oversight of government finances, reduce inactive balances and centralize public fund management.
Funds recovered came from several sources. Inactive accounts untouched for more than five years under Cabinet Decision No. 23581 of 2023 yielded 159.56 billion dinars (about $109.9 million) and $133.86 million. Dormant treasury accounts returned 26.34 billion dinars (about $18.1 million) and $198.3 million. Balances linked to Finance Ministry departments contributed a further 149.22 billion dinars (roughly $102.8 million). Banks also recovered 293.81 billion dinars (about $202.4 million) in old operational expenditure balances during 2025.
In a separate measure, 121 accounts belonging to centrally funded entities were transferred into a dedicated Finance Ministry account pending audit, with balances totaling 48.95 trillion dinars — about $33.7 billion — and $1.64 million.
The ministry said technical teams are in the final stages of implementing a third phase of an electronic platform linking government banks to a centralized treasury monitoring system, following earlier phases covering salary, operational spending and current government accounts.
The reforms follow the 2022 exposure of what became known as the “theft of the century,” involving the disappearance of about $2.5 billion from tax deposit accounts belonging to the General Commission for Taxes.