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Clare » December 11th, 2018
EXCELLENT CC!! GREAT INFORMATION & GREAT ARTICLES TODAY...
THANKS SO MUCH FOR EVERYTHING... FRANK, WALKINGSTICK, DELTA, ANGEL-1 & TEAMS!
Frank said, A Change is Coming!!!
-There is a legitimate reason to invest in Iraq now...because they meet International standards!
Delta- the lifting of the 3 zeros, looks on target for the end of the year!
Walkingstick - Post #23 ... 2 Articles from 2017....What they reference has begun, cannot disclose names...
Frank- Please allow time to reveal to you the revelation of your destiny in this investment...
We truly have learned from the Best of the Best... so grateful for you all!
This CC was in Frank's opinion & this post is in my opinion.
Monday Night KTFA CC 12-10-18
PLAYBACK # : 641.715.3639 PIN: 156996#
Iobey777 » December 11th, 2018
Thank you ,SIR!! So this tells me that Iraqi currency is already recognised in some banks in the US..IF I am reading this right!? Praying the laws are passed soon!
Walkingstick » December 11th, 2018
Post #23 NOTE
Iraqi Banks Are Looking With The US Treasury To Open Relations With Foreign Banks
Jul 19, 2017
Government, private and foreign banks operating in Iraq have discussed with US Treasury officials at the headquarters of the Association of Iraqi Private Banks to open relations with foreign banks, specifically US banks.
The Association of Iraqi Private Banks said in a press statement, “We organized a dialogue session in the presence of Central Bank representative Mazen Sabah, representative of the Union of Arab Banks Khawla al-Asadi, member of the parliamentary economy committee Mahdi al-Hafiz, directors of private and government banks and heads of branches of Arab and foreign banks operating in Iraq with the Minister of Economic Affairs at the US Embassy Larry Mimot and representative of the US Treasury in Iraq. ”
She added that “the dialogue session aims to open a new page of relations with foreign banks and specifically with the US banks,” indicating that “a committee formed by the Central Bank Mazen Sabah and agreed to form a delegation including government and private banks to visit the United States and establish strong relationships with correspondent banks Specifically the US. ”
She noted that “the Arab-American banking conference will be held in New York on the sixteenth of October next and Iraq will participate with a large banking delegation,” noting that “there is great confidence between the Association of Iraqi private banks and the US Treasury.”
On the other hand, the Minister for Economic Affairs at the US Embassy, Larry Mimot, said during the meeting, “I have seen the activities carried out by the Association of Iraqi Private Banks, including philanthropy and the development of human capacities working in the banking sector through training, specifically in the file of combating money laundering and financing terrorism.”
He pointed out that “the banking sector is one of the main reasons for the development of the Iraqi economy and we will work with the developers to develop it, and encourage Iraqi banks to open relations with the Association of American private banks.”
He called Memot private banks to “the need to find new ways to lend to small projects because they contribute to the development of the relationship between banks and foreign companies that will lead to the development of relations with foreign banks,” pointing out that “the US government can not impose anything on private banks.”
Meanwhile, the representative of the Central Bank at the meeting, Mazen Sabah, that “Iraq is committed to international standards, specifically in the areas of combating money laundering, risk management, insurance and international accounting and there is a tightening of the central bank on the need to adhere to banks operating in Iraq these standards, , Indicating that “Iraq’s direction during the current stage to open relations with foreign banks and Arab and began to form a committee on this matter.”
On the other hand, the representative of the Union of Arab Banks, the head of Rafidain Bank, Khawla Asadi, said that “the classification of the new Iraq is in the follow-up area after leaving the gray area,” noting that “Iraq is very much in the fight against money laundering.”
She stressed that “the Arab financial reports indicate that Iraq has an advanced classification of Arab, and we are working to develop relations with foreign correspondent banks.”
In turn, the Chairman of the Board of Directors of the International Development Bank, Ziad Khalaf, in an intervention during the meeting, “There are many Iraqi private banks are ready and comply with international standards and is ready to open accounts with foreign correspondent banks for the ownership of a cadre of excellence and policies and procedures are subject to international standards In addition to integrated services. ”
While, asked the Chairman of the Board of Directors of the Bank of the South Ali Zaidi, is the problem of opening bank accounts in global banks lies with Iraqi banks or foreign banks, specifically the US.
In the meantime, the director of the Bank of Baghdad, “Basem Dahi”, said that “government banks are taking over the banking business in Iraq because of government policies that support at the expense of the banking sector.”
The largest US banks… Praise the performance of Iraqi banks
October 23, 2017
Based on the invitation received by the Governor of the Central Bank of Iraq Ali Mohsen Ismail al-Alak from the UN Security Council to attend a meeting in New York Tuesday, October 17, 2017 with members of the Council in the United Nations building, in a gesture that is the first of its kind where the Ali al-Alak is the first governor of the central bank in the world to attend such meetings.
The meeting dealt with the management of the Central Bank of Iraq in a studied scientific manner and its experience in combating money laundering, terrorism financing and economic development. Members of the UN Security Council commended the work of the Bank in the difficult circumstances of the country.
The US Center for Strategic Studies pointed out that the global media, has played a negative role in the transfer of unclear picture of the Iraqi market during the past years, stressing that there are many positive aspects and opportunities for investors.
The Middle East official in the bank “Citibank”, which is one of the largest banks in the world , noted to the reassurance of US banks to Iraqi banks after the reform steps by the Central Bank of Iraq to combat money laundering and punish offenders and pursue them , and support development.
The Association of Iraqi private banks, said that “an Iraqi bank delegation discussed with a number of banks and financial institutions operating in the United States of America opportunities for cooperation between the two parties,” indicating that “the delegation included 17 private banks and Rafidain and industrial banks and the Executive Director of the Association of Private Banks Ali Tarek and a number of advisers the Association “.
The Iraqi delegation at the American Strategic Studies Center held a meeting with the American side, which included the US Treasury, US banks, the OPEC Foundation and American financial institutions to discuss the Iraqi economy and the challenges facing it. The meeting issued a statement that the global media reflects a negative image of investment in Iraq during the past years where it has significantly affected the entry of foreign companies in the Iraqi market, “noting that it contains a large positive and a great opportunity for investors to work in it.
The Executive Director of the Association of Private Banks Ali Tariq explained the achievements of the Iraqi banking sector, despite the challenges faced during the current period, “and the difficult conditions experienced by the country from the war against terrorism and the decline in world oil prices and the destruction of infrastructure in the provinces that were under the control of ISIS, The reconstruction campaign and the displaced.
He stressed that the work of banks in a continuous development and seeks to reduce the use of cash in life transactions through projects operated by the Association of Iraqi private banks in cooperation with the Central Bank, such as the project of financial inclusion and the settlement of salaries, which is an important projects that the Central Bank to implement in the transfer of cash transactions to the electronic age, and this project is implemented on the basis of a decision of the Council of Ministers at the end of 2016, to be integrated with a set of measures that the Central Bank has succeeded in the past two years to achieve, and includes the project to open accounts for all employees of ministries and government institutions In the banks and the bank will be the guarantor of these salaries, in the framework of enhancing the financial coverage and the dissemination of banking services to all segments of society, which eliminates the risk of theft, loss, fraud and damage upon receipt of salaries.
Tariq said that the first phase has been successfully implemented by settling the salaries of the Central Bank employees through a number of banks selected according to a set of criteria for technical and financial evaluation and services to be provided to the employees and with high transparency. The contract was signed between the Central Bank and the selected banks to take adequate guarantee for the settlement, and issuing bank cards linked to employee accounts.
There are a number of important economic dimensions that will be defined by this project, including the enhancement of financial inclusion and the expansion of financial services, and strengthen the confidence between banks and citizens, which increases the dealings with banks as the proportion of those who have bank accounts in Iraq currently does not exceed 12% of the population.
The project contributes to facilitating the process of paying salaries through banks, which lead to increase the speed of the circulation of money and thus reduce the sharpness of deflation occurring currently due to the financial crisis, and the collection of large amounts for the banks that can be benefited through the strengthening of liquidity, and part of it are put in the channels of credit for productive projects, Business and exit from what is known in economic terms by liquidity trap area.
And Tariq added that “private banks are working hard that its share to be balanced with government banks through deposits, and the enactment of decisions to stimulate government departments to deal with private banks,” stressing that “Iraqi banks implement the law on combating money laundering and terrorism and instructions on compliance and risk management.
The Middle east official in the Citibank Dennis Flannery pointed out “now that the US banks have greater confidence in the Iraqi banks, especially after the positive steps of the Central Bank of Iraq to combat money laundering and punish violators,” and added . “US banks are considering mechanisms of working and cooperation with Iraqi banks and projects which provides a smooth flow of work.”
According to the statement issued, the Association of Iraqi private banks decided “the continuation of regular meetings with the US Treasury and foreign banks, specifically the US with the establishment of an annual forum between Iraqi and US banks.”
Citibank, which is founded in 1812, is one of the largest banks in the world and is the banking arm of Citigroup and operates in more than 100 countries in the world. It is considered with Citigroup the largest bank in terms of deposits in the United States followed by Bank of America, and JPMorgan Chase.
Rommy » December 11th, 2018
In My Opinion
Dec 2018 Iraqi citizens ready for LDs and smaller notes and fils.
HotRod21 » December 11th, 2018
IMO, UST is encouraging dialog and an open relationship with US Banks. They could learn more about how they do business from “Big Bro.” They also plan on doing business internationally with American businesses. These banks will be providing loans to these businesses for projects, etc. IMO
ChrisC » December 11th, 2018
I hope all of y'all are nestled all snug in your beds, While visions of sugar-plums dance in your heads, and after we've dreamed I hope we all see what's been taking so long..our precious RV. So, let's trust in Trump and know he's planned right and a Merry Future to all and to all a good night.
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