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Article: Money to burn for City trader who signed up for a banking role in Iraq.
- Article from:
- The Evening Standard (London, England)
- Article date:
- December 12, 2003
CopyrightCOPYRIGHT 2003 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: COLIN FREEMAN
AFTER SEVERAL years working in the Square Mile, Tim Irwin-Parker, now serving as a captain in the Territorial Army, has just clinched the toughest deal of his life - bringing in a new currency for Iraq.
Irwin-Parker, a share trader in civilian life, has been overseeing the introduction of new cash to replace the old banknotes that carried pictures of Saddam Hussein. While most Iraqis cannot wait to get rid of the last images of the dictator, it meant plunging into one of the most volatile financial markets in the world.
"The exchange of the new money for old has been very popular but there was a risk that, if we got it ...