Word: rafidain
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Iraq's coffers may technically be burgeoning with billions of petrodollars, but over the summer, the vaults of some branches of the country's two main state-owned commercial banks, the Rafidain and Rasheed, were empty. A kink in the supply chain owing to miscommunication among several financial bodies meant that the flow of physical bank notes to some provinces like Diyala was reduced to a trickle. There was no shortage of cash on the streets of the province, but government pensions and salaries were delayed, as were payments to contractors, who in turn didn't have the cold hard...
...Iraqi experts into Syria to investigate Saddam's finances. Meanwhile, some of the accounts in Lebanese banks remain open. "We're trying to get [those] banks to give us information on the accounts, but they refuse," complains Dawud Hassan, director of the international division of Iraq's Rafidain Bank, which Saddam used for foreign transactions. Hassan says the Iraqi secret police--the only people Saddam trusted with the money--controlled the accounts, and he suspects the money could today be helping underwrite Iraq's Baathist resistance...
...dozen other Iranian cities. While Iranian artillery zeroed in on the Iraqi port city of Basra and ground forces launched an offensive in the vast Huwaiza marshes of southern Iraq, aircraft raided Baghdad. When a huge explosion shattered part of the 13-story Baghdad headquarters of Iraq's Rafidain Bank, Tehran claimed that one of its surface- to-surface missiles had hit the building; the Iraqis insisted that the bombing had been an act of sabotage. Later in the week, another enormous blast sent earthquake-style tremors through Baghdad. The Iraqis said a car bomb was involved...
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