Iraq asks Obama to extend the protection of Iraqi funds abroad another year

Thursday, April 12, 2012 07:48

BAGHDAD / Baghdadiya News / In the time that the start of the countdown to the end of what is known as the U.S. protection of Iraqi funds in U.S. banks, and then the money will be exposed

Freezing and confiscation threatened the existence of claims for compensation received by companies and even citizens of the international courts, issued the Economic Commission of the Iraqi Council of Ministers resolution calling on the Prime Minister and the Foreign Ministry to address U.S. President Obama about… the possibility of extending the protection period for the money another year. Agency / Baghdadiya News / followed the results of the meeting of the Ministerial Committee on the Status of a mechanism to ensure the protection of Iraq’s money in its twentieth meeting on Wednesday morning under the chairmanship of Deputy Prime Minister Dr. Roژ Nuri Shaways and the presence of ministers of finance and oil, Justice and President of the Office of Financial Supervision and Governor of Central Bank of Iraq and Clai the Departments of State Planning Legal Adviser to the Prime Minister and Advisor to the Deputy Prime Minister.

The Committee deliberated the procedures and steps to be pursued to protect Iraqi funds and assets deposited abroad, especially with the imminent expiration of the protection provided by the U.S. presidential decision for the money and assets until next May.

The Commission adopted a series of resolutions and recommendations to be working out in the forefront of a recommendation to the Council of Ministers to submit a formal request on behalf of the Government of the Republic of Iraq through the Ministry of Foreign Affairs to the U.S. government to adopt a resolution a new presidential provides protection for Iraqi funds for a new year with effect from 20 May 2012.

According to the CBI, decision to the United States President Barack Obama, put the Iraqi funds abroad, under American protection, and to prevent any judicial decisions to freezing or forfeiture under the presence of compensation claims and the resolutions of the debt raised by companies and people, and this protection will continue until the 20 of May next.

He estimated the central bank the size of these funds as large, there are several billion dollars are distributed in a number of countries, in addition to money the Iraqi Development Fund, which contains revenue from the sale of oil that vary between 816 billion dollars, and there is also a $ 52 billion, money belonging to the Central Bank placed in banks U.S. cover of the Iraqi currency is not subject to the decisions of the freeze.

For his part, said a member of the Iraqi parliament Abbas al-Bayati, a close associate of the prime minister said Iraqi funds in U.S. banks are protected by presidential decree for a year and will be finished soon, and in order to protect this money from the lawsuits of the many piled on Iraq since 1991, we need a presidential order another to protect it.

Bayati expressed his belief that the U.S. side would not mind, otherwise the approval of Iraq’s money would be vulnerable to looting by the decisions of the courts and my requests for compensation. / Finished / 27