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Iraq opens bank account to deposit KAC recompense

04 Dec 2012
The Government of Iraq opened a bank account in one of the big commercial banks and USD 500 million got credited to the account, which is to compensate the Kuwaiti Airways Corporation (KAC). The Iraqi government agreed the minutes of the meeting between the Iraqi and Kuwaiti delegations over the compensations to be rewarded for KAC, the secretariat of the cabinet said in a statement. The government had asked the Iraqi bank of trade to initiate an account to deposit the USD 500 million. The governments of Iraq and Kuwait sanctioned the USD 500 million defrayal for the KAC compensation case. Source: [Kuna]
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