Iraqi financial experts work to settle blocked assets with Syria
Syria-Iraq, Economics, 11/10/2004

Syria's Minister of Finance Mohammed al-Hussein on Tuesday announced an Iraqi financial experts team has recently visited The Syrian-Lebanese Commercial Bank to discuss the issue of blocked Iraqi assets and the two sectors merits in Syria.

In a statement to Al-Thawra newspaper, the Minister said that Syria has always been welcoming the Iraqi delegations visits and this delegation was treated in full transparency where all needed information was presented.

"Syria's intended sides are waiting for the Iraqi delegation to make the deserved funds identification for each side in light of available documents and data," the minister said.

Minister of Finance noted each side has a money obligations to the other, clarifying that the Iraqi side owns assets at the Commercial Bank of Syria and the Syrian side possesses demands from both the public and private sector which we want to verify and settle in light of the present documents.

The Syrian public sector owes currency to the Iraqi side estimated at $300 million while the private sector is owed from the Iraqi side one billion and 300 million dollars, informed sources at the Syrian Chambers of Commerce Union said.

Director General of the Commercial Bank of Syria Douried Dergham earlier announced that Iraqi blocked assets to the Syrian banks total $ 261 million.

Previous Stories:
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  Iraq assets in Syria are not 3 billion, Syrian- American cooperation confirmed   (10/22/2003)

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