Iraqi Cabinet Approves Doubling of Trade Bank's Capital
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Iraq’s Cabinet agreed to double the capital of state-owned Trade Bank of Iraq to one trillion dinars ($858 million), State Minister Ali al-Dabbagh, the official government spokesman, said in an e-mailed statement today.
Baghdad-based Trade Bank is under investigation for alleged irregularities and its former president and chairman, Hussein al-Uzri, is facing an arrest warrant issued by the Iraqi authorities, Ali al-Allaq, secretary general of the Council of Ministers, said in June 2011. He has since been replaced by Hamida al-Jaf.