ROMMA Commission part 6

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AN INDEPENDENT COMMISSION FOR THE REPATRIATION OF MISAPPOPRIATED MONIES AND ASSETS

House of Lords
Committee Room 4a
Wednesday  20 July 2011    1530 

Against the background of sweeping changes making their way through the Muslim territories marked out in North Africa and the Middle East, populations with no history of true autonomous government within living memory will be expected to put together ”all new” leadership regimes. It is hoped by those same populations, substantially Muslim, that their new self-government will be an interim form of Islamic Democracy, meaning a constitution based consultative.

In turn this new leadership is expected to plan, develop and implement a new social and technical infrastructure, which should include a domestic financial system that is devised with out-of-the-box thinking.

All of this will take funding and the question arises, where will the monies come from? The answer is that a substantial amount of public monies belonging to those populations exist. Often transferred out of the state and in some cases monies and assets were never even repatriated to the domestic economy, thereby avoiding any record of them in the domestic accounts or home banking system.

These monies and assets have been misappropriated by the corrupt and tyrannical rulers that have plagued the regions for decades. Those rulers treated the state funds as their own personal purses and were allowed to manage and transfer them globally, all with the co-operation of the banks in the West. All transactions with these, domestically overseas – technically offshore, monies and assets were undertaken with at least tacit approval of Western governments and usually explicit approval.

Britain, France and the US struggled to get an approval through the UN Security Council for a no fly zone, an endeavour that took almost a month and the support of the Arab League before gaining full approval. This compares with the announcement on 23rd February 2011 by the US State Department that they were “looking into” the “possibility” of sanctions. On the 27th February 2011, only 4 days later (and a Sunday), the UN Security Council voted unanimously for the imposition of sanctions against Libya. It is noted with interest that on Monday 28th February the US Treasury announced they had seized more than US$30bn of Libyan assets and that a search was still on.

How did the US Treasury round up all those monies in 1 day? They didn’t. Actually the assets were seized over the weekend under an executive order issued by President Obama on Friday 25th 2011.

It is a cause of considerable concern to the Muslim populations of the world that the US felt comfortable to act unilaterally to seize funds, but would not act unilaterally to save lives. It is also a cause of considerable concern that whilst a total of around US$100bn of Libyan monies and assets have been seized around the world, the same world governments have completely failed to enact sanctions, or even act independently, to trace and seize the misappropriated funds of the Tunisian and Egyptian peoples.

The wind of changes blowing in the MENA region give all the appearances of further regime changes, which in turn will mean further opportunities for the tracing, seizure and return of even more misappropriated monies and assets.

It is concluded that given the complicity of world governments to turn a blind eye and even encourage tyrannical despots to misappropriate domestic state funds, against the best interests of the people, it is clearly necessary to set up an independent and Muslim controlled commission to facilitate the investigation, seizure, collection, return and audit of misappropriated state funds.

As a show of good faith to the peoples, in the spirit of truth and reconciliation, this commission should have the full support and unfettered access to the central banks of the world and the private banks and institutions under their dominion, to help this independent commission. The need for this commission is being advanced by the independent  think tank  Global Vision 2000 who are naming it the ROMMA Commission.