Iraqi Finance: Committee to Protect Iraqi funds would be its secret
Baghdad, The Iraqi Ministry of Finance, on Friday, that the work of the Committee to Protect Iraqi funds abroad would be a secret to avoid fictitious companies which Iraq claims it is asking for money.
U.S. Undersecretary of the Ministry of Finance Zia Alckheon Kurdistan News Agency (Rn) that "Iraq has formed a committee consisting of the Iraqi Central Bank and the Financial Inspection Office and the Ministry of Finance to discuss ways to protect Iraqi funds from external influences and companies that claim that it seeks Iraq funds substantial."
He added that "the work of this Committee will have in total secrecy to get rid of some of the allegations of front companies which Iraq claims it is asking large sums because of their dealings with the former regime."
He Alckheon that "the Commission will come out with a number of important recommendations during the period set by the UN Security Council which is six months from the start its work from the middle of last month."
He explained that "the Committee will focus on legal mechanisms internationally accredited to provide the ability of Iraq to protect the saved money internationally from any manipulation carried out by fake companies or of certain States after the expiration international trusteeship."
The Ministry of Finance of Iraq, last Wednesday, the Foreign Minister, Hoshyar Zebari, head of a government commission art would develop mechanisms to protect Iraqi funds in foreign banks after the UN Security Council resolution mid-November last, who spent lifting of protection for the money to Iraq the end of June next .
The UN Security Council voted unanimously in mid-January last three resolutions concerning the lifting of the embargo imposed on Iraq on the import of nuclear material for peaceful purposes, and cancel the oil for food program, also extended the immunity of and for the last phase compensation imposed under Chapter VII until the end of June / June.
The former Iraqi president Saddam Hussein ordered the invasion of Kuwait in 1990, with the effect that imposed sanctions on Iraq from the international community and put under Chapter VII, which makes it a country threatening world peace and security.
Included international sanctions prevented the import of chemicals and nuclear technology that could be used in a secret nuclear programs, chemical and biological weapons.
Has allowed the United Nations in 1995 for Iraq to sell oil in return for food, called "oil-for lunch."
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