Iraq’s Federal Commission of Integrity is investigating significant financial irregularities at Rafidain and Rasheed banks. The probe focuses on a substantial drain of liquidity and over one billion Iraqi dinar in commercial loans. Oversight bodies are conducting a comprehensive audit to uncover potential mismanagement and illicit financial activities. The investigation includes scrutiny of discretionary spending and loan disbursement practices. This action signals a renewed effort to combat corruption and ensure financial stability within the Iraqi banking sector. Details regarding specific allegations or individuals involved have not yet been released, but the commission assures a thorough investigation. The findings could lead to legal action and reforms within the banks.