Critics say its time for CBI to manage protected funds after CH VII

Posted by on Oct 26, 2013 | Leave a Comment

Calls for the central bank to take over the protection of Iraqi funds file

06/20/2013 1:50 am

student Economists Iraqi Central Bank to prepare from now to take over the file to protect Iraqi funds in banks in the United States and take appropriate measures to close this file and restore the sovereignty of the money the country.

U.S. President Barack Obama announced mid last month to extend the legal protection of the Development Fund for Iraq and some Iraqi assets other in the United States.

and box-shaped Hamaihalamwal Iraqi DFI under UN Security Council Resolution 1483 to protect Iraqi funds from international claims after the events of 2003, and since that time, Iraq requested extension of protection on his money because of undergoing Chapter VII of the UN Charter.

called Academic economic Essam المحاويلي central bank because preparing and since now to direct special procedures to close this file and money to Iraq or transferred to foreign banks other under the supervision of the government to protect it from claims of Foreign Affairs.

said in a statement to the (morning) that it is not reasonable to stay Iraqi funds of this magnitude in foreign banks for a longer period, pointing to the need to seek to remove Iraq from Chapter VII and regain control of his money again. He pointed out that the central bank is able to protect the funds from the claims of creditors external being possesses the expertise and skills are good.

pointed to the need to take measures and precautions of having creditors new potential after the transfer of funds to Iraqi sovereignty because there are demands illegal and fraudulent should the Central Bank of her attention.

of For his part, said a member of the Economic Commission parliamentary deputy Amer winner that Iraq is able to protect its assets and control when he emerges from Chapter VII.

said the winner told the (morning) that there are companies and institutions and people waiting impatiently for the withdrawal of Iraq from Chapter VII to demand their money and lawsuits against him. Unlikely that Iraq would refuse to pay money to companies supported the former regime in suppressing the people. He cautioned that such claims will be introduced in accordance with international law and will resolve the judiciary proceedings in favor of companiesthat owns the arguments strongest, stressing the need to give this issue of paramount importance because it is Iraqi money and will benefit the people when they regain Iraq’s control.

between Iraq now need to invest this money in infrastructure projects and reconstruction, but it depends on the exit of Iraq from Chapter VII.

calling for the need to resolve this as soon as possible because it represents the restoration of prestige Iraq represented to regain control of his money discretion placed under American tutelage, under the supervision of the United Nations for years.

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