Kaperoni Update -- North Bank for Finance & Investment

by **Ponee** Wed Jan 22, 2014 12:06 pm

1-22-2014 Newshound Guru Kaperoni Article: "North Bank for Finance & Investment" Looks like this bank is gearing up for Article VIII... [...how soon would we know when they go into article 8?] hard to tell. The CBI (Turki) has to write a letter to the IMF, and hopefully that would be published under IMF Press Releases. The actual website on the IMF updates a month behind or so, so it could be a few weeks unless the media publishes something. At this time, they are not in compliance so I would not be looking for it. Once the CBI lowers the spread (within 2%) as required, then I will start to get excited.

Article VIII will come soon with a limited number of banks that will be approved by the CBI for global transactions...Article VIII would make the dinar internationally recognized and if the value is truely undervalued (as so many say), it would rise in value as a result of the new exchange regime under Article VIII.

READ THE ARTICLE HERE -- https://www.dinardaily.net/t30854-north-bank-for-finance-investment#201158

by **Kevind53** Wed Jan 22, 2014 12:27 pm

NOT ARTICLE VIII! Grrr .... Mad

SWIFT has nothing to do with the IMF, WB or any other multi letter agency. It is a private company that provides secure financial communications to banks and multinational companies.

SWIFT wrote: SWIFT is a member-owned cooperative through which the financial world conducts its business operations with speed, certainty and confidence. More than 10,000 financial institutions and corporations in 212 countries trust us every day to exchange millions of standardised financial messages. This activity involves the secure exchange of proprietary data while ensuring its confidentiality and integrity.

Our role is two-fold. We provide the proprietary communications platform, products and services that allow our customers to connect and exchange financial information securely and reliably. We also act as the catalyst that brings the financial community together to work collaboratively to shape market practice, define standards and consider solutions to issues of mutual interest.

SWIFT enables its customers to automate and standardise financial transactions, thereby lowering costs, reducing operational risk and eliminating inefficiencies from their operations. By using SWIFT customers can also create new business opportunities and revenue streams.

SWIFT has its headquarters in Belgium and has offices in the world's major financial centres and developing markets. SWIFT provides additional products and associated services through Arkelis N.V., a wholly owned subsidiary of SWIFT, the assets of which were acquired from SunGard in 2010.

SWIFT does not hold funds nor does it manage accounts on behalf of customers, nor does it store financial information on an on-going basis. http://www.swift.com/about_swift/company_information/company_information

Most of you know that I have a lot of respect for Kap as a whole, but he is flat wrong, IMO, on all this Article VIII stuff.

Kaperoni Update -- North Bank for Finance & Investment

Kaperoni Update -- North Bank for Finance & Investment

Re: Kaperoni Update -- North Bank for Finance & Investment