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Invitations to invest in Iraqi funds frozen for service projects

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Invitations to invest in Iraqi funds frozen for service projects

On: Wednesday 5/2/2012 6:27

 Baghdad / term

called a member of the Finance Committee MP Faleh applicable, to the need to invest the money of Iraq in the international banks for investment projects to serve the country.
The effect (of the Agency news): The Iraqi funds "frozen" in the global banks too big and we have to invest in projects diversified investment both within the country or outside it, as projects housing or industry or services, by the Ministry of Finance and Central Bank in order to diversify the country's fiscal revenue.

This and return the money reserved in most international banks to the former regime officials or figures other Iraqi was a freeze on assets deposited in such banks as a result of things judicial raised against them.
This is money deposits fixed or variable in that international banks are awarded a financial benefit determined by those banks , making the value increase per year.
Meanwhile, a banking expert Mohsen Ali: The Director of Iraq under Chapter VII has become necessary, especially after the return of Iraq to its regional and international levels, because it would give freedom to the Iraqi banks in dealing with international banks.
Ali (of the Agency news of news): Iraq is still bound in item VII by the UN, thus affecting the work of Iraqi banks being given a bad reputation for its work outside and international, which led to the rejection of international banks to deal with Iraq in its dealings through foreign remittances.
He added that Iraq would emerge from Chapter VII has become an urgent necessity at the present time, especially after the return of Iraqi relations with foreign countries with reservations about Iraq as a result of the policy of the former regime as a state of Kuwait, Iraq in order to give full freedom to act and his money dealings with international banks in Iraq.

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