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According to a banking expert Mohsen Ali, to remove Iraq from under Chapter VII has become necessary, especially after the return of Iraq to its regional and international levels, because it would give freedom to the Iraqi banks in dealing with international banks.
Ali (of the Agency news) said on Tuesday: Iraq is still shackled item VII by the UN, thus affecting the work of Iraqi banks being given a bad reputation in its external and international levels, which led to the rejection of international banks to deal with Iraq in their transactions through foreign remittances. He added that the withdrawal of Iraq from Chapter VII has become an urgent necessity in the time present, especially after the return of Iraqi relations with foreign countries with reservations about Iraq as a result of the policy of the former regime as a state of Kuwait, Iraq in order to give full freedom to act and his money dealings with international banks in Iraq.
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