The Ministry of Finance responds to the statement of the Minister of Labor (Ahmed Al-Asadi), stating that the Social Welfare Account has been open since 2015, and the issue stems from errors in monitoring the account by the Ministry of Labor.
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The Ministry of Finance confirmed that the statement made by the Minister of Labor was inaccurate, and that the Social Welfare Account has been open since 2015 with no withdrawals made from it. It was only frozen. The Ministry of Finance clarified that the Ministry of Labor had not properly monitored the account, and audits revealed improper uses, though not related to the Ministry of Finance. All funds remain in the account, and the Board of Supreme Audit has officially documented the observations.
The Ministry of Labor stated that the minister's statement was misinterpreted and confirmed that the fund balance is preserved and digitally recorded. They also assured that subsidies are regularly distributed and secured by the budget. The Ministry explained that the minister's comments were regarding a future vision for funding the subsidies through investments from the fund.
Meanwhile, the Rafidain Bank confirmed that the minister’s statement was inaccurate, explaining that the amount mentioned belongs to the social protection network account funded by the Ministry of Finance. The bank clarified that it has not received any withdrawal or investment requests from the Ministry of Labor.
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