Iraqi assets in Syria to return back to Iraqi government
Syria-Iraq, Politics, 10/15/2004

"Frozen Iraqi assets amounted to $ 261 million would return back to the Iraqi government," Director General of the Syrian Commercial Bank, Duried Dergham on Thursday told the press.

He refuted existence of any other assets related to the former officials of the Iraqi regime.

Dergham refuted the US allegations pertaining to the existence of problems in this regard.

"There are contracts and demands by the public and private sectors in Syria in return for implementing contracts in Iraq before the war and all of these are documented in the Finance Ministry and the Federation of Syrian Chambers of Commerce," he said.

Dergham hoped the US side would take practical steps to reconsider the US charges and enable Syria's Commercial Bank to complete its process of reshaping and building its developed banking group.

He emphasized that the commercial bank talks with the US officials which were made in Damascus and Washington cause relief and help to remove the US accusations that have no justifications on the banking level.

He expressed the Syrian Commercial Bank full readiness to resort for arbitration to al-Ghafi institution which is in charge of monitoring money laundering as well as to implement Basel 2 criteria.

Previous Stories:
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  Allawi describes relations with Syria as excellent   (9/21/2004)
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