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ISIL Controlling over 90 Bank branches in Iraq
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Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
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ISIL Controlling over 90 Bank branches in Iraq
(Courtesy of American Contractor)
I want to give you an update on the conditions in Mosul, Iraq. In Mosul, the Islamic State in Iraq and the Levant (ISIL) are continuing to build up defenses for the upcoming assault by Iraqi forces.
The ISIL militants have continued to increase their wealth by controlling the bank branches in Iraq in the areas the terrorist organization currently controls.
As ISIL controls and acts as a governing body in Northern Iraq, it treats state-owned and private banks very differently. The money inside state-owned banks is the property of ISIL while the cash at private banks remains in the vaults.
Inside the private banks, the Iraqi dinar largely held in the vaults, making it difficult for ISIL militants to use the local currency outside of Iraq. When a bank customer makes a withdrawal, ISIL makes sure it taxes the transaction.
The U.S Treasury reported ISIL has taken control of at least half a billion US dollars in cash alone. The terrorist organization has taken control of state-owned bank branches located in the Ninevah, Al-Anbar, Salah-Din, and Kirkuk provinces. The estimated number of Iraqi banks that the ISIL militants control is over 90 bank branches.
You can see that ISIL has complete control of the banking industry in northern Iraq.
Source
I want to give you an update on the conditions in Mosul, Iraq. In Mosul, the Islamic State in Iraq and the Levant (ISIL) are continuing to build up defenses for the upcoming assault by Iraqi forces.
The ISIL militants have continued to increase their wealth by controlling the bank branches in Iraq in the areas the terrorist organization currently controls.
As ISIL controls and acts as a governing body in Northern Iraq, it treats state-owned and private banks very differently. The money inside state-owned banks is the property of ISIL while the cash at private banks remains in the vaults.
Inside the private banks, the Iraqi dinar largely held in the vaults, making it difficult for ISIL militants to use the local currency outside of Iraq. When a bank customer makes a withdrawal, ISIL makes sure it taxes the transaction.
The U.S Treasury reported ISIL has taken control of at least half a billion US dollars in cash alone. The terrorist organization has taken control of state-owned bank branches located in the Ninevah, Al-Anbar, Salah-Din, and Kirkuk provinces. The estimated number of Iraqi banks that the ISIL militants control is over 90 bank branches.
You can see that ISIL has complete control of the banking industry in northern Iraq.
Source
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silkysand- VIP NewsHound
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Re: ISIL Controlling over 90 Bank branches in Iraq
Normally I would move this to the guru side just because of the source, but he makes a very good point. While I can not verify the accuracy of any of his numbers, the situation is general is obviously what he has stated. In light of that does anyone seriously think that we will see a significant increase in value while ISIL is controlling the banks, and thus huge quantities of dinar? No, I didn't think so ...
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Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
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