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WTO – World Trade Organisation
Iraq is in the process of becoming a full member of the World Trade Organisation.To become a member of the WTO article 6 of the WTO Terms & Conditions of joining, stipulate that a country must have a fully convertable currency.
Latest news (March 2008) has stated that Iraq is close to completing all requirements for membership.
Iraq is virtually debt free.Thanks to the Paris club agreements.Iraq has written off apx 80% of all its debts owed under Saddam Hussian.
FIL – Foreign Investment Law
August 2007 the Iraqi Government passed the Foriegn Investment Law.
This law allows foriegners to own businesses, shares ,etc and to be able to freely transfers funds in and out of Iraq.
HCL – Hydro Carbon Law (Oil Law)
This is probably the most important legislation that the Iraqi Government will have to pass in there term of office.This law covers the revenue sharing agreements between the different groups and regions of Iraq.
CBI – Central Bank of Iraq
The Central Bank of Iraq is an independent agency, not affected by the political parties of the many factions in Iraq.
CENTRAL BANK OF IRAQ
US DEPARTMENT OF STATE