INC Press Statement
Response to press reports about the resolution of Petra bank case

With reference to the stories in the press about the resolution of the Petra bank case. Dr Chalabi will not accept a royal pardon. Such a pardon was offered to Dr. Chalabi by His Majesty King Hussein of Jordan in March 1998 but he declined to accept.  He maintains that his management of Petra bank, which he founded, was sound and the results speak for themselves. He made the bank the second largest commercial bank in Jordan, and the bank was at the cutting edge of banking technology in the Middle East.

No Iraqi official has requested a pardon for Dr Chalabi in any meeting with King Abdullah II. They asked the king to resolve the issue in the interest of relations between Jordan and Iraq. Dr Chalabi maintains that the shareholders of Petra Bank and its clients must be compensated by the Jordanian authorities for the wrong done to them by martial law committee that took over the bank and squandered its assets.

Dr Chalabi's lawyers have sued Jordan in Federal court in Washington DC under The Racketeer Influenced and Corrupt Organization Act (“RICO”) over the Petra Bank case, please see

Jordan and Dr Chalabi's emissary have been engaged in talks at the highest levels of the Jordanian governmental, legal and financial bodies with a view to resolving this issue on the basis of legally clearing Dr Chalabi's name by vacating the sentence of the military court against him and agreeing on financial compensation and arbitration arrangements for the injured parties as a result of the military decree taking over the bank in August of 1989.

Dr Chalabi is ready for a reconciliation with Jordan that will reverse the injustice and infamy that he has been subjected to in the past 16 years of struggle against the regime of Saddam Hussein.
For further information, please contact:

Entifadh K. Qanbar
Iraqi National Congress
+1914 360 3875 Baghdad, Iraq
+964 7901 502 497 Baghdad, Iraq
+44 7969 840 547 UK
+971 50 255 1902 Dubai
+1202 460 4109 Worldwide
+1360 933 6879 Fax

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