US embassy cable - 04MADRID1842

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Identifier:	04MADRID1842
Wikileaks:	View 04MADRID1842 at Wikileaks.org
Origin:	Embassy Madrid
Created:	2004-05-20 11:13:00
Classification:	CONFIDENTIAL
Tags:	EFIN PREL IZ SP UNSC Counterterrorism
Redacted:	This cable was not redacted by Wikileaks.

C O N F I D E N T I A L MADRID 001842 
 
SIPDIS 
 
STATE FOR EB/ESC/TFS FOR GLASS/SALOOM; IO/PHO; L/EB 
TREASURY FOR ZARATE, ROSS AND WALLWORTH 
 
E.O. 12958: DECL: 05/22/2014 
TAGS: EFIN, PREL, IZ, SP, UNSC, Counterterrorism 
SUBJECT: IRAQI ASSETS: RASHEED BANK ASSETS LOCATED IN SPAIN 
 
REF: A. STATE 19363 
 
     B. MADRID 856 
 
Classified By: ECONOMIC COUNSELOR JUDITH GARBER FOR REASONS 1.4 (B) AND 
 (D) 
 
1. (C) Working level contacts at SEPBLAC, Spain's financial 
intelligence unit, informed us that they located the 
suspected Rasheed Bank (REF A) assets during a recent 
unannounced (REF B) investigation of Banco Arab Espanol.  The 
numbered account contained USD 25,863.79 and has been dormant 
since the account was frozen after the first Gulf War.  A 
second dormant account containing a deposit of USD 10,356.14 
from the Central Bank of Iraq was also uncovered.  No account 
activity was recorded in either account since 1993 save 
regular interest accumulation. 
 
2. (C) This information is unofficial.  The Directorate 
General of the Treasury in the Ministry of Economy will make 
the official notification, after which the GOS should begin 
the process of transferring the funds to the Development Fund 
for Iraq. 
 
3. (U) We will keep the Department updated as appropriate. 
ARGYROS