The CBI receives the remaining amount from the Kuwait Compensation Fund

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The CBI announced that it had received the remaining amount in the Compensation Fund, amounting to (7,946,316) dollars (seven million, nine hundred and forty-six thousand, three hundred and sixteen dollars), after paying the full compensation for Kuwait. An authorized source in the CBI stated that the amount was returned after auditing the accounts according to Security Council Resolution no. (2621) for (2022) concerned with ending the compensation file resulting from the invasion of the former Iraqi regime into Kuwait. Iraq revealed in 2021 that it had terminated all necessary banking arrangements with the US Federal Reserve Bank to stop the automatic deduction of Kuwait's compensation from Iraqi crude oil export revenues, after paying the full remaining amount of compensation.

 

Central Bank of Iraq

     Media Office

     12. Dec. 2022