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Real Estate

The dark side of Iraq’s economic boom | Sam Butler


Iraq’s economy is in the midst of a paradox. On the one hand, Baghdad and other major cities across Iraq are witnessing a surge of ambitious real estate projects, glittering shopping malls and luxury towers meant to project stability and modernity. On the other hand, revelations about how the country’s financial system has been abused by Iranian backed militia-linked networks and corrupt banks raise urgent questions: how much of this new skyline is really fuelled by legitimate capital, and how much is simply dirty money dressed in…



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