Court Rules Ba'athist Ban on Foreign Ownership Unconstitutional

By John Lee.

Iraq's Federal Supreme Court has ruled unconstitutional a decree issued by the dissolved Revolutionary Command Council that had blocked foreign nationals from owning assets or investing in companies inside Iraq.

The court, sitting under the presidency of Judge Munther Ibrahim Hussein with all member judges present, found that Revolutionary Command Council Decision No. 23 of 1994, as amended by Decision No. 33 of 1997, violated Articles 23, 25, and 26 of Iraq's 2005 constitution. The case was brought by the Prime Minister in his official capacity against the Speaker of the Council of Representatives.

The original decree had suspended all laws and decisions permitting foreign ownership or investment in Iraqi companies, and prescribed prison sentences of between one and three years for violations, with Iraqi nationals facing a minimum of two years, alongside confiscation of any assets acquired or invested in contravention of the decree.

The ruling was issued unanimously and is binding on all authorities under Article 94 of the constitution.

(Source: Iraq Federal Supreme Court)

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