Group items tagged

The Central bank of Iraq is facing different fictitious creditors in the different foreign countries. Therefore the central bank of Iraq took swift action and distributed its funds in the different foreign banks to avoid these false creditors. This will help central bank to protect its funds abroad.

The frozen assets of Iraq in the foreign banks are under discussion for couple of months, especially after Chapter VII of United Nation. These frozen assets are $82 Billion and were freeze due to invasion of Kuwait by Iraq in 1990. People are not sure about these funds and most of them are consider as barren amount that will not be released to Iraq.

The rates are contemplating the same. My thoughts as always we have been alerted and we are on standby for our exchange and this can happen at any second, we have no knowledge of any delays, banks abroad are waiting for your Washington folks to get it rolling, last word out is that it is now in motion.

The President of United States of America, Barack Obama announced good news for Iraq and its economy. The immunity funds freeze as the result of chapter vii sanctions by United Nation, are issued to the Iraq development funds. The united nation has lifted sanctions from immunity funds of Iraq available in the different foreign banks.