Financial and Banking News
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Italian Bank Scandal Focuses Attention on Iraqi Export Credits
A scandal at the Italian state-controlled Banca Nazionale del Lavoro (BNL)has focused attention on Iraq's access to officially backed export credits.BNL's Atlanta branch in the US has been discovered to have extended a total of$2.64bn worth of unauthorized and undocumented credits covering US and Europeanexporters to Iraq. Of the total amount, $920mn is...