Recover 20 million dollars of Iraqi money in Kuwait

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Recover 20 million dollars of Iraqi money in Kuwait

• Time: 05/24/2023 15:17:07
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{Local: Al Furat News} The Iraq Money Recovery Fund announced the recovery of more than (20) million US dollars of Iraqi funds in the State of Kuwait.

 

 A statement by the Integrity Commission, of which {Euphrates News} received a copy, quotes the Chairman of the Board of Directors of the Fund (Haider Hanoun) as confirming that “the Fund, in the framework of its follow-up of Iraqi funds abroad and working to recover them through diplomatic and legal means, succeeded in recovering an amount of (20,437,157) million US dollars From the money that was deposited in the secretariat account of the Iraqi embassy in Kuwait at the National Bank of Kuwait, after reactivating the account and financing the balances.  

 

Hanoun explained that "the money had been withheld since 1990, and was subject to confiscation and closing the account, and after proving it and returning it, it was deposited [as trusts] to the account of the Iraqi embassy in Kuwait, appreciating the role of the Ministry of Foreign Affairs in exerting efforts and cooperation in recovering the money, noting that the Central Bank of Iraq reported Deposit the amount to the "Iraq 2" account in the US Federal Reserve Bank.
 
It should be noted that the Iraq Money Recovery Fund announced in mid-May the recovery of the amount of liquidation of a company, and the follow-up of the settlement of the amount of (80) million US dollars in the (Credit Suisse) bank.

[yota691]

Recover 20 million dollars of Iraqi money in Kuwait

2023-05-24 08:19

 

Shafaq News/ The Iraq Money Recovery Fund announced, on Wednesday, the recovery of more than (20) million US dollars of Iraqi funds in the State of Kuwait.

 

 

 

The Chairman of the Board of Directors of the Fund, Judge Haider Hanoun, stated in a statement today that the Fund, and within the framework of its follow-up of Iraqi funds abroad and working to recover them through diplomatic and legal means, succeeded in recovering an amount of (20,437,157) US dollars from the funds that were deposited in the secretariat account of the Embassy of Iraq in Kuwait at the National Bank of Kuwait, after reactivating the account and financing the balances.

 

He explained that the funds had been withheld since 1990, and were subject to confiscation and account closure, and after proving and returning them, they were deposited "as trusts" to the account of the Iraqi embassy in Kuwait, appreciating the role of the Ministry of Foreign Affairs in exerting efforts and cooperation in recovering the funds, noting that the Central Bank of Iraq reported that the amount had been deposited. To the "Iraq 2" account in the US Federal Reserve Bank.

 

It is noteworthy that the Iraq Money Recovery Fund announced in mid-May the recovery of the amount of the liquidation of a company, and the follow-up of the settlement of the amount of (80) million US dollars in the (Credit Suisse) bank.

[yota691]

Iraq recovers $20 million seized in Kuwait 32 years ago

money and business
   

Economy News / Baghdad
Today, Wednesday, the head of the Integrity Commission, Haider Hanoun, announced the recovery of more than $20 million from Kuwait.

Hanoun said in a statement to state television that "the authority recovered an amount of 20 million and 437 thousand and 157 US dollars," noting that "this amount was withheld in the National Bank of the State of Kuwait, and it is from the funds of the Iraqi embassy in Kuwait for the year 1990 after the severance of relations."

He added, "This came through news received by the Iraq Money Recovery Fund, where the funds were searched for, the full amount was recovered, and it was duly returned to the state treasury through the Central Bank of Iraq."

He stressed, "We are currently in the process of discussions with a Swiss legal law firm, as an understanding has been reached with it and the procedures for contracting with it have been completed due to the importance of having such a legal entity representing us in Switzerland with the aim of knowing the amount of funds, whether they are financial, gold fickles, or gold bars in Switzerland, which belong to Iraq to work on recover it".

 

 

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Added 05/24/2023 - 3:21 PM