Monday, February 02, 2004

Lebanon to give 500 million back

Lebanon is set to give back almost 500 million dollars that Saddam deposited in Lebanese banks:

Lebanon has agreed to return an estimated nearly $500 million deposited in local banks by the regime of toppled Iraqi president Saddam Hussein, according to a member of Baghdad's interim Governing Council.

"We examined the issue of Iraqi funds deposited in Lebanese banks and there is a definite figure concerning the amount," Mowaffaq Al-Roubaie said after a meeting on Saturday night with Prime Minister Rafiq Al Hariri.

Roubaie did not reveal the exact amount of stashed funds, but Lebanese officials have said some $495 million of Iraqi money is in the country's banking system.

The official said an Iraqi technical team including interim finance minister Kamal Al Kilani and the central bank governor would soon travel to Beirut "to take possession of this money and assure its transfer to Iraqi power."


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