Foreign Companies Demand 30 percent of Iraq's Frozen Assets abroad exceeding U.S.$1.1billion, MP says
Monday, February 15th 2010
Sulaimaniyah, Feb. 15 (AKnews) - An MP from the Iraqi Parliament's Financial Commission has announced today that some foreign companies expressed readiness to achieve means to make use of Iraq's Frozen assets in foreign banks, exceeding US$1.1 billions (d), demanding their share to reach 30 percent from the frozen money.
“The Central Government (in Baghdad) has declared that Iraq's forzen national funds abroad can be estimated to excceed one billion (b) US Dollars, all kept in foreign banks by former Iraqi President, Saddam Hussein, reiterating that such kind of money has negative impact on the State’s economy right now,” Sami Atrushi told the Independent National News Agency of Kurdistan (AKnews).
Atrushi said: "We have helped the Special Commission to get back the frozen money, which is estimated by U.S.$1billion (b) and U.S.$100 millions (m), merely in French banks.”
The said foreign companies, trying to get 30 percent of Iraq's frozen assets, have not succeeded to get the approval of Baghdad's Central Government to pay them such large sums of money.
related link~
UN Security Council resolution to extend immunity to the Development Fund for Iraq is a step in support of the reconstruction
