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Summarized and contextualized by DistantNews.
At a glance
- Former Syrian Vice President Abdul Halim Khaddam's memoirs reveal that the state reserve was registered under the late President Hafez al-Assad's name.
- The memoirs detail an incident where $65 million was withdrawn from the account, allegedly by Prime Minister Mahmoud Al-Zoubi, leading to an investigation and Al-Zoubi's eventual suicide.
- The book, set to be published in September, is edited by Ibrahim Hamidi and published by Raff Publishing, a subsidiary of Saudi Research and Media Group.
Memoirs by former Syrian Vice President Abdul Halim Khaddam are set to expose sensitive details about wealth and power within Syria, notably revealing that the nation's state reserve, once valued at twelve billion dollars, was registered under the personal name of the late President Hafez al-Assad.
No one imagined that an amount of this magnitude would be placed under the personal name of the head of state, given that it belongs to the Syrian state, not him.
The revelations, compiled and introduced by Ibrahim Hamidi, are slated for publication in early September by Raff Publishing, a division of the Saudi Research and Media Group. Khaddam reportedly expressed astonishment that such a substantial sum, belonging to the state, would be personally held by the head of state. The situation escalated into an internal crisis when a document indicated a withdrawal from the foreign account registered under Assad's name.
Assad, upon receiving the transfer document, became suspicious and initiated an inquiry. The investigation revealed that $65 million had been withdrawn and belonged to then-Prime Minister Mahmoud Al-Zoubi. Khaddam recounts that Assad was enraged and ordered Al-Zoubi to return the funds or face execution. The money was subsequently returned to the bank, though Al-Zoubi, who served as prime minister from November 1987 to March 2000, remained in his post.
Mahmoud Al-Zoubi has betrayed me. Investigate him and hold him accountable.
Khaddam's writings paint a critical picture of Al-Zoubi, describing him as someone who not only facilitated but actively practiced corruption. The memoirs detail how Al-Zoubi's political career ended abruptly in May 2000. With Hafez al-Assad reportedly showing signs of terminal illness, he summoned Baath Party leadership and accused Al-Zoubi of betrayal, ordering an investigation. Upon learning of the impending investigation, Al-Zoubi allegedly threatened suicide. On May 24, 2000, as police arrived to escort him for questioning, Al-Zoubi shot himself in the head at his home. Khaddam states he learned about the forgery and the reserve details shortly after Al-Zoubi's suicide.
If they call me for investigation, I will commit suicide.
Originally published by Asharq Al-Awsat. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.