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On Wednesday, a government committee directed legal measures to seize funds and issue travel bans against those who hesitate to deal with the Trade Bank of Iraq.
“A committee from the Prime Minister’s Office visited the Iraqi Trade Bank to discuss the files of the delayers and directed legal measures to be taken to seize the funds and issue a travel ban,” the committee said in a statement.
She added that “in the coming days there will be travel bans and seizure of funds for those who lie low,” noting that she “will be monitoring this issue very closely.”
An economic expert previously proposed what he considered an “effective” approach for the Trade Bank of Iraq (TBI) to recover $215 million lost from reluctant creditors, explaining that the approach would be to review the loan contracts and form a neutral Foreign committees specialize in resolving disputes and studying loan contracts.
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