France releases 23 million dollars reserved for Iraq

[yota691]

Justice announces the lifting of the detention of 23 million dollars belonging to the Central Bank

 

Logo of the Central Bank of Iraq

Banks Economy News Baghdad: The Ministry of Justice announced on Sunday that it had obtained a final decision to obtain a final ruling on the lifting of the detention of the amount of return to the Central Bank worth 23 million dollars . A ministry statement said in a press statement that the ministry "obtained a final decision acquires the final grade for the Iraqi government and the Central Bank of Iraq from the French Supreme Court and the Court of Appeal of Paris to lift the reservation of the amount of return to the Central Bank of about 23 million dollars ." The statement added that "this lawsuit dates back to the year 2000 has been filed by the Central Bank companies claiming to be affected earlier and demand the seizure of the funds of the Central Bank of Iraq." Views 2   Date Added 22/07/2018

[yota691]

 

Justice raises the detention of 23 million dollars of funds of the Central Bank of Iraq

 

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BAGHDAD / 

The Justice Ministry announced on Sunday that it has lifted the seizure of 23 million dollars of funds from the Central Bank of Iraq. 

"We have obtained a final decision for the Iraqi government and the Central Bank of Iraq from the French Supreme Court and the Court of Appeal of Paris to lift the detention of the central bank's return amount of about 23 million dollars," the ministry said in a statement.

She added that "this lawsuit dates back to the year 2000 has been filed by the Central Bank companies claiming to be damaged earlier and demand the seizure of the funds of the Central Bank of Iraq."

[yota691]

URGENT France releases 23 million dollars reserved for Iraq

Editorial date: 2018/7/22 13:32 • 179 times read

(AFP) - France has released 23 million dollars for Iraq.

"It obtained a final decision to acquire the final grade for the Iraqi government and the Central Bank of Iraq from the French Supreme Court and the Court of Appeal of Paris to lift the reservation of the amount of return to the Central Bank of about 23 million dollars." He added that "this lawsuit dates back to the year 2000 has been filed by the Central Bank companies claiming to be damaged earlier and demanding the seizure of the funds of the Central Bank of Iraq."

[gregp]

This is really good news. Thanks Yota.  

[yota691]

Justice announces the lifting of the detention of 23 million dollars belonging to the Central Bank of Iraq

 

Sunday 22 July

 

 

Alsumaria News / Baghdad announced that the Ministry of Justice on Sunday that the French Supreme Court and the Appeal Court of Paris decided to raise the booking for $ 23 million , the Central Bank of Iraq.  The ministry said it had "obtained a final decision acquires the final score for the Iraqi government and the Central Bank of Iraq from the French Supreme Court and the Court of Appeal of Paris to lift the reservation of the amount of return to the Central Bank is about 23 million dollars."     The ministry said in a statement received by Alsumaria News, a copy of that, "This lawsuit dates back to the year 2000 has been filed by the Central Bank companies claiming to have been damaged previously and demand the seizure of funds of the Central Bank of Iraq."

[jeepguy]

Already spent !  23 million is a drop in the bucket ...

[ChuckFinley]

Thanks Yota, nice way to start my day..  

[DropItLikeItsHot]

Here's a thought...... Send the 23 Mill over to DV.... I'm sure we could all share the wealth!

[NEPatriotsFan1]

Is it possible that they are releasing this money to them as part of sanctions that are being completely lifted in regards to chapter 7? 

 

I know now it seems like a trivial amount when we are used to talking trillions and billions but, could it be a “canary in the coal mine” so to speak that it was news worthy enough, that they were getting 23 million dollars back from France? I believe they’ve already gotten the DFI funds back from NewYork if I can remember correctly. 

 

Maybe this is is a positive sign that Iraq is  about to stop the MCP and start standing on their own two feet with 55 B in reserves and the ability to cover the currency at 160%? 

 

Just my thoughts from from first glance at the article 

[blueskyline]

Thank You Yota. GM DV's .....

[NoviceInvestor]

I read this article and my first thought it was in dollars not dinar. 

[Officiallytook]

🤔🤔🤔🤞🤞🤞

 

[yota691]

URGENT French court releases $ 23 million of funds reserved for Iraq

Release date: 2018/7/22 13:53 • 140 times read

[Ayna-Baghdad] 
The French court has launched 23 million dollars of funds reserved for Iraq.

The Ministry of Justice said in a statement, received by the agency {Euphrates News} a copy of it today, "it got a final decision acquires a final score for the Iraqi government and the Central Bank of Iraq from the French Supreme Court and the Court of Appeal Paris to lift the reservation of the amount of return to the Central Bank is about 23 million dollars "He said. 
The ministry added that "this lawsuit dates back to the year 2000 has been filed by the Central Bank companies claiming to have been damaged earlier and demand the seizure of the funds of the Central Bank of Iraq."

[Butifldrm]

The Ministry of Justice is taking $ 23 million from the seizure of the funds of the Central Bank of Iraq

 

2018-07-22 01:10:00

The Ministry of Justice announced that it has obtained a final decision acquires the final score for the Iraqi government and the Central Bank of Iraq from the French Supreme Court and the Court of Appeal Paris to lift the reservation of the amount of return to the Central Bank of about 23 million dollars. 
As this lawsuit dates back to the year 2000 and has been filed by the Central Bank companies claiming to have been damaged previously and demand the seizure of the funds of the Central Bank of Iraq.

https://www.moj.gov.iq/view.3883/

[yota691]

Doing a search on this subject...strange that nothing come up in 2000...threw google or DV....

[newbieDA]

14 minutes ago, yota691 said:

Doing a search on this subject...strange that nothing come up in 2000...threw google or DV....

 

Saddam was in power still, there was a No Fly Zone that France was a part of. Hope that helps.

[Butifldrm]

Where Are Saddam's Billions?

Saddam Hussein Money, Dollar, Wealth, Iraq, War 

 CBS

 

Now that Saddam Hussein's grip on power is dissolved, the race is on to find the billions he is believed to have stashed outside Iraq.

The United States, leading the hunt to seize Iraqi assets and use them to reconstruct the country, has yet to even quantify the holdings of Saddam's inner circle.

Estimates of Saddam's wealth range from $2 billion to $40 billion. But experts say it has been so effectively hidden — in countries from Latin America to Asia — that the real amount may never be known.

"There is a network of money that has been sent out of the country and it has been given to people to invest or to keep," said Charles Forrest of the U.S.-funded International Campaign to Indict Iraqi War Criminals, or Indict.

Forrest said official Iraqi government accounts may be easier to spot than accounts belonging to about 200 individuals and firms associated with the Iraqi regime.

"The world must find, freeze and return Iraqi money for the Iraqi people and their future," U.S. Treasury Secretary John Snow said March 21.

The Bush administration seized $1.62 billion in Iraqi assets already frozen in the United States as last month's invasion got under way. Washington urged other countries to follow suit. Many have moved more slowly.

The Swiss government said Wednesday it was freezing Iraqi government and corporate assets pending a U.N. Security Council resolution identifying the rightful owners.

Swiss National Bank estimates Iraqi assets in the country at $305 million at the end of 2001. But officials conceded the true figure, which includes payments from Iraq's oil business, may be higher.

France has frozen some $90 million in Iraqi investments from before the 1991 Gulf War. Britain still holds $605 million in Iraqi assets — most of it linked to Saddam — that it froze after Iraq invaded Kuwait in 1990.

"Our overriding aim is for this money to be used as much as possible for the benefit of the Iraqi people," said Simon Moise, the British treasury spokesman.

A U.S. Treasury blacklist includes individuals and companies in Britain, Jordan, Egypt and the United Arab Emirates.

Rafidain Bank of Iraq, which is on the U.S. blacklist, has branches across the Middle East that continued to operate Thursday.

The Jordanian government hasn't frozen Iraqi public and private assets, but is checking the identities of those making withdrawals, a Jordanian official in Amman said, speaking on condition of anonymity. He declined to be specific.

In Egypt, the collapse of the Iraqi government means its assets are frozen but no action had been taken, said Abdel Fatah el-Gibaly, an adviser to the finance minister.

Officials in the United Arab Emirates said no Iraq assets, public or private, had been frozen.

Only a handful of Swiss entries appear on the U.S. blacklist, including companies liquidated long ago.

But a recent report commissioned by Indict suggests Switzerland may have been central to Saddam's financial network.

"Certain individuals are still active in Switzerland," said the 20-page confidential report prepared in December 2001 by Kroll Associates UK Ltd.

Saddam's half brother, Barzan Ibrahim al-Tikriti, was allegedly the chief organizer of a clandestine group of companies and funds handling the Iraqi dictator's wealth.

Indict says Al-Tikriti, chief of Saddam's secret police in the 1980s, used his subsequent nine-year tenure as Iraq's ambassador to U.N. offices in Geneva to set up the network.

Forrest said Kroll found that, despite U.N. restrictions during much of the 1990s, Saddam and his family raked in oil smuggling profits.

"They demanded kickbacks, they bought brokers, they created false front companies and they banked the money abroad in cash, or in accounts for product credit," said David D. Aufhauser, general counsel of the U.S. Treasury Department.

Saddam's regime also skimmed off the U.N.-oil-for-food program.

In one scheme, Iraq sold its oil at below-market rates, with the proceeds going into a U.N. account to buy food and medicine for the Iraqi people. Iraq then received a 30-cent per barrel kickback, according to a report by the Coalition for International Justice, based in Washington, D.C., and the Hague, Netherlands.

Saddam's assets have long involved guesswork.

The U.S. General Accounting Office estimated Iraq earned $6.6 billion in oil smuggling and surcharges from 1997 to 2001. The Coalition for International Justice put the figure at $10 billion.

U.S. officials said Saddam still had $30 billion in secret funds at the end of the 1991 Gulf War. Estimates of his wealth have since declined.

Forbes magazine estimated Saddam's worth at $2 billion a month ago — down from $7 billion in 2000.

Financial sleuth John Fawcett told 60 Minutes Correspondent Steve Kroft last month that his investigation of wealth controlled by Saddam found assets estimated at between $10 and $20 billion. His holdings include American magazines, such as Elle, Car and Driver and Woman's Day, through stock owned in a parent company. Those shares are now frozen.

So were did Saddam put the money?

Forbes said he used much of it to build palaces across the desert country. Other investigators said he spent heavily on spare parts and weapons.

"Most of that money has been spent on giving support to the Special Republican Guard and his presidential guard and his relatives and friends," said Forrest of Indict.

© 2003 CBS. All rights reserved.

https://www.cbsnews.com/news/where-are-saddams-billions/

[tennesseem]

ppl will never see it!!! 

[blueskyline]

Thanks Buti, Yota.  I remember some time ago an article that said Iraq's assets or frozen assets  around the world were Incalculable . Back then I took that to mean they could not find them or they were in world banks gaining interest so fast it was hard to calculate .Anyhow. It's good to see more frozen funds return to Iraq at this time . It's good to see A lot of things happening at this time ...

[blueskyline]

2 hours ago, newbieDA said:

 

Saddam was in power still, there was a No Fly Zone that France was a part of. Hope that helps.

Thanks NewbieDA

[newbieDA]

24 minutes ago, blueskyline said:

Thanks NewbieDA

 

your welcome 😃

[Butifldrm]

Where did Saddam Hussein's money go?

 Last Updated

41  Print  Favorites Participate 

Rasheed News / Follow - up 
 

newspaper " The Telegraph" published a critique of the book Professor of Political Science at Stanford University and Lisa Blades in which it interprets former President Saddam Hussein 's money disappeared in the last years of his reign. 
The book, "State of Repression," in which the professor relied on archival material of the dissolved Baath Party, that Saddam was actually intimidating opponents, but can not deny the existence of true supporters of his rule, especially after the discovery of oil and turning Iraq into a major economic engine. 
The book concluded that, in an effort to avoid ethnic and sectarian conflicts in the country, Saddam was attracting new supporters through social spending, bribes, gifts, money, television and cars, in exchange for allegiance. 
The book said that this strategy would have borne fruit if it had not exhausted the money of the process, adding that Saddam committed a series of fatal mistakes, which lost a large part of his money.
"The war with Iran, which broke out in 1980, cost the Saddam regime a lot of money," he said, adding that the Iraqi government was offering families of victims money and cars, as well as spending huge sums on the reconstruction of Shiite sanctuaries, with 80-85% The early 1980s were Shiites. 
As a result, Iraq faced significant economic problems, forcing Saddam in 1988 to accept the terms of a ceasefire with Iran. 
The invasion of Kuwait in 1990 was an attempt by Iraq to compensate for some of its losses, but it made a grave mistake in assessing the West's attitude towards the invasion. Western intervention in the crisis destroyed most of Iraq's infrastructure, costing the country 126 billion dollars, . 
The United States has also exhausted Iraq with harsh sanctions, which, according to some observers, have killed more than half a million children.
The book concluded that the economic collapse of Iraq led to two political obstacles reflected on the future of Saddam. The first was that the late leader had to reduce his expenses to his supporters. He focused his support on his family and supporters in Tikrit. The second obstacle was the start of the ruling party based on Saddam's most loyal social components. 
Iraq has been involved in a number of crises as a result of this discrimination. The regime has committed serious violations against Shiites and Kurds in addition to the assassinations and assassinations of dissidents and clerics, including Muhammad Mohammad Sadiq al-Sadr in 1999. 
This has led to an escalation of sectarian and ethnic tension in Iraq Sectarianism witnessed by the country after the fall of Saddam's regime.

http://www.alrasheednews.com/25391/

[Butifldrm]

Raise the custody of the assets of Rafidain and Rasheed abroad, which exceeds the value of 11 million dollars

  

 Banks

Economy News _ Baghdad

The Ministry of Justice announced on Thursday the issue of lifting the seizure of the assets of Rafidain and Rashid banks with foreign banks worth more than 11 million dollars. 
The director of the legal department of the ministry, Raad Khalil, said in a statement received by "Economy News" a copy, that "the department of foreign lawsuits in the department succeeded in lifting the seizure of Iraqi funds belonging to Rafidain and Rashid banks in France (BNP Paribas and Natixis) Dutch for City Bank, "explaining that" the value of $ 11 million. "
The Director General of the Department said that "the lawyer appointed by the Ministry to plead for the case received a decision from the French Supreme Court (Court of Cassation) to overturn the decision of the Court of Appeal issued on 4/2/2014, which requires that the bank Rafidain and Rashid pay money to Citi Bank ) And return the case to the Court of Appeal and authorize the Rafidain Bank and Rashid to file an appeal against the decision before the Supreme Court. 
Khalil said that "a decision was issued to lift the seizure of funds in the (BNP Paribas), belonging to Rafidain and Rashid," pointing to "the continuation of the Department to follow up with the lawyer and the parties concerned."

 

Views 21   Date Added 08/02/2018

Add rating  

http://economy-news.net/content.php?id=13121

[Butifldrm]

 

2018/08/02 11:25

• Number of readings 28
• Section: Iraq
•  

Justice: Lift the seizure of bank accounts Rafidain and Rashid abroad

 

 

The Ministry of Justice announced on Thursday, August 2, 2018, the issue of lifting the seizure of the assets of the Rafidain and Rashid banks in foreign banks, which exceeds the value of "11" million dollars.

"The Department of Foreign Affairs in the Department succeeded in lifting the seizure of Iraqi funds belonging to BNP Paribas and Natixis, which was issued by the Dutch courts in favor of Citibank," the director general of the legal department, Raad Khalil, said in a statement.

"The lawyer appointed by the ministry to plead for the case received a decision from the French Supreme Court, the Court of Cassation, to overturn the decision of the Court of Appeal issued on 4/2/2014, which obligates the Rafidain and Al-Rashid bank to pay money to Citi Bank, And return the case to the Court of Appeal and authorize the Rafidain Bank and Rashid to file an appeal against the decision before the Supreme Court.

Khalil said that "a decision was issued to lift the seizure of funds in the BNP Paribas, which belongs to Rafidain and Rashid, confirming the continuation of the Department to follow up the matter with the lawyer and the concerned parties.

Follow the obelisk

http://almasalah.com/ar/news/145911/العدل-رفع-الحجز-عن-ارصدة-مصرفي-الرافدين-والرشيد-بالخارج

[Butifldrm]

Justice raises the arrest of the assets of Rafidain and Rashid abroad and confirms: exceed 11 million dollars

 

19 views

02/08/2018

Baghdad

The Ministry of Justice announced on Thursday the issue of lifting the seizure of the assets of Rafidain and Rashid banks in foreign banks, worth more than (11) million dollars.

The general director of the Legal Department Raad Khalil said in a statement "trend" has received a copy of it, that "foreign suits circuit division succeeded in raising the custody of Iraqi funds of the Rafidain Bank and Rasheed in France when ( is the BNP Paribas as And the Natixis)  , which issued a decision to the Dutch courts for the benefit of the company City Bank.

"The lawyer appointed by the ministry to plead the case received a decision by the French Supreme Court (Court of Cassation) to overturn the decision of the Court of Appeal issued on 4/2/2014, which obligates the Rafidain and Rashid Bank to pay money to Citibank, And return the case to the Court of Appeal and authorize the Rafidain Bank and Rashid to file an appeal against the decision before the Supreme Court.

Khalil said that "a decision was issued to lift the seizure of the funds in BNP Paribasbelonging to the Rafidain and Rashid banks, confirming the continuation of the department to follow up the matter with the lawyer and the concerned parties.

The Minister of Justice Haider Zamili, has written a letter of thanks and appreciation to the members of the department of foreign suits in the legal department for their extraordinary efforts in lifting the detention of Iraqi funds abroad.

zm 

http://aletejahtv.com/archives/243882