The Iraq Money Recovery Fund Announces The Recovery Of $20 Million From Kuwait

The Iraq Money Recovery Fund announced today, Wednesday, the recovery of 20 million dollars of Iraqi funds in the State of Kuwait.

The Chairman of the Board of Directors of the Iraq Money Recovery Fund, Judge Haider Hanoun, confirmed in a statement, “The Iraq Money Recovery 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) million 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.

Judge Hanoun explained that “the money had been seized since 1990, and was subject to confiscation and account closure, and after proving and returning it, it was deposited (as trusts) to the account of the Iraqi embassy in Kuwait.”

Judge Hanoun appreciated “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 that the amount was deposited in the “Iraq 2” account at the US Federal Reserve Bank.

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

Source: National Iraqi News Agency