Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."


Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

Topics tagged under 1550 on Dinar Daily DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Current date/time is Fri Dec 06, 2019 11:54 am

Search found 4 matches for 1550

CBI Announcement 3 of 4: 2/14/2017 - Revocation of License due to Funding of Daesh

Original Document Link: [url=http://www.cbi.iq/documents/Announcem.b 14-2-2017.pdf]http://www.cbi.iq/documents/Announcem.d%2014-2-2017.pdf[/url]

Begin My Translation:

Monitoring Banking Department
Department of non-bank institutions
 
Issue: 09/09/2396
Date: 02/14/2017
 
To: The Proximal Co., mediators in the sale and purchase of foreign currencies
M: License Revocation
 
Based upon the Board of Directors of the Bank's decision #17 of its session numbered #1550 held on 29.01.2017, and in light of the commission of your company’s grave offenses regarding the sending of money orders to outside Iraq and the receiving of them from abroad as well as conducting them with citizens living in areas under Daesh control, it has been decided to revoke the license granted to your company and inform the Registrar of Companies to remove you from the commercial register.
 
Respectfully,
Kizmat Saleh Ali


P: General Manager

02/12/2017

: End My Translation
by CarniLvr79
on Thu Feb 16, 2017 11:38 pm
 
Search in: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Topic: CBI Announcement 3 of 4: 2/14/2017 - Revocation of License due to Funding of Daesh
Replies: 0
Views: 524

CBI Announcement 2 of 4: 2/14/2017 - Revocation of License due to Funding of Daesh

Original Document Link: http://www.cbi.iq/documents/Announcem.b%2014-2-2017.pdf

Begin My Translation:

Monitoring Banking Department
Department of non-bank institutions
 
Issue: 09/09/2395
Date: 02/14/2017
 
To: Baba Gurgur Co., mediators in the sale and purchase of foreign currencies
M: License Revocation
 
Based upon the Board of Directors of the Bank's decision #17 of its session numbered #1550 held on 29.01.2017, and in light of the commission of your company’s grave offenses regarding the sending of money orders to outside Iraq and the receiving of them from abroad as well as conducting them with citizens living in areas under Daesh control, it has been decided to revoke the license granted to your company and inform the Registrar of Companies to remove you from the commercial register.
 
Respectfully,
Kizmat Saleh Ali


P: General Manager

02/13/2017

: End My Translation
by CarniLvr79
on Thu Feb 16, 2017 7:57 pm
 
Search in: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Topic: CBI Announcement 2 of 4: 2/14/2017 - Revocation of License due to Funding of Daesh
Replies: 0
Views: 544

CBI Announcement 1 of 4: 2/14/2017 - Revocation of License due to Blacklisting

Original Document Link: http://www.cbi.iq/documents/Announcem.s%2014-2-2017.pdf

Begin my Translation:

Monitoring Banking Department
Department of non-bank Institutions
 
Number: 09/09/2394
Date: 02/14/2017
 
To: The Gold Chain Financial Transfer [or conversion] Co.
M: License revocation
 
Greetings...
          According to the Board of Directors of the Bank's decision #18 for the year 2017, adopted in its session numbered #1550, held on 29.01.2017, given that your company has been blacklisted according to US law, which was executed by the Office of Foreign Assets Control in/at the US Treasury Department (OFAC) under the administrative order #13224 EO for the targeting of those who fund or facilitate the funding of terrorism or acts thereof. 
          It has been decided to revoke the license granted to your company and to inform the Registrar of Companies to remove you from the commercial register.

 
Respectfully,
Qizmat Saleh Ali


P: General Manager

02/13/2017

:End my Translation
by CarniLvr79
on Thu Feb 16, 2017 4:52 pm
 
Search in: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Topic: CBI Announcement 1 of 4: 2/14/2017 - Revocation of License due to Blacklisting
Replies: 0
Views: 546

CBI Announcement - 2/13/2017 - License, Bank Officer Appointees, and other adjustment activities...

Original Document Link: http://www.cbi.iq/documents/Announcem%2013-2-2017.pdf

Begin my Translation:


M / To grant license and other adjustment/modification activity

Greetings...
Due to your many comments you made most recently in your letter No. 432, dated 26.12.2016; during the meeting held on January 29, 2017, it was agreed upon by the Board of Directors of this bank #24 for the year 2017, to adopt the session minutes #1550 to decide…
Approval of the following:

1. The final license for the practice of Islamic banking is granted. An amendment (attached hereto) for the activity curriculum of money transfer to an Islamic bank to be a bank subject to the control and supervision of the Bank in accordance with taking the following laws into consideration: the CBI Law No. Co. 56 from 2004, and the Islamic bank’s #43 from 2015, and the Law on Combating Money Laundering and the Financing of Terrorism #39 from 2015; and (taking into consideration) the regulations issued thereunder, it is upon the condition of a capital increase of $250 billion is reached no later than three years after you start handing out the license which is of course in accordance with what is enforced by the Islamic banking law.

2. The selection of Mr. Kazim Haider Ghulam Hussain to the Office of Director of the bank [is] as a result to the applicability of his qualifications (in accordance) with articles (18/17) enforced by (the) banks, our instructions issued in accordance with the law, and as a result to passing the testing (interview) panel of experts from this bank.

3. The selection of Ms. Susan David Namdar to the Office of Assistant Commissioner Director, [is] as a result to the applicability of her qualifications (in accordance) with banks (articles), (our) instructions issued in accordance with the law, and as a result to passing the testing (interview) panel of experts - and (of course upon her) resignation from the Middle East Bank.

4. The nomination for management position of your bank are as follows:
·         Tariq Ismail Ibrahim Hussein,
·         Russell??? [Literally: the messengers of] Amer Yahya Abdul-Jabbar al-Samarrai,
·         Ghulam Haider Hussain Ansari Kazem,
·         Fathi Mahmoud Qassem Ali al-Asadi,
·         Hussain Abbas Hussain Younis al-Janabi,
·         Alaa Salah Hussein Mohammed Saleh Atraqchi,
·         Abdul Noor conciliator Rahman Ibrahim al-Janabi,
·         Ali thanked the Crown Abbas al-Bayati,
·         the Prince of Yasser Fadel Hussein Atraqchi,
·         Qusay Ali Hussein Kadhim al-Jubouri,
·         Noor Sabah Nouri Abdul Rahman Al-Rashidi,
·         Alaa Basil Hussein Habib Abbas
[is] (as a result) to the applicability of their qualifications with the conditions set forth as a result to Article 17 of the banking law; whom does not hold any of the positions of: The Presidency, a membership of the board of another bank management, and/or a transfer or financial investment company; and after passing the interview by a panel of experts at this bank, the bank's current officers will be informed of the reservists after selection in the General Assembly meeting to be held for this purpose.

5. Appointment of members of the Sharia Board for your bank and they include:
·         Adi Numan Thabt Shalal Qaisi,
·         Anas Mohammed Mohiuddin Mohsen Saidi,
·         Bassam Essam Hussein Alwan Almchae,
·         Fayrouz Timor Ali Aboud Alwakil,
·         Nebras Khalil Ibrahim Ghani Obeidi
[is] (as a result) to the applicability of their qualifications with the enforced Islamic banking law and international legitimacy standards and Islamic accounting on the condition we are provided with the approval of the General Authority of the bank for them and after passing an interview by a panel of experts from this bank.

6. Coordination with Erbil Bank for Investment and Financing regarding the cancellation of the letter of guarantee No. 2015/30 issued in 12/08/2015 in favor of the bank did not misappropriate the authorization of money transfer companies {Laundering?} upon the orders of your company so as to there was now no longer a need for him to give you the license above.

7. (to be able to) provide a lawful commitment to the shareholders that an increase has been from their own funds and not from the company's funds as well as their pledge to the integrity of those funds were obtained from legitimate sources.

8. The launch-release for the amount of deposited money in the care of the Department head of Accounting for an increase, amounting to 55 billion dinars and deposited in the bank account above which will open/unlock the cited department.

9. The bank bears full responsibility for any irregularities or problems discovered during the work curriculum (of a) company's financial transfer until its transformation into the bank and the signing off of the undertaking is submitted by Commissioner Salah Hassan Mustafa - Director of Financial Transfer Curriculum through the legal department, which says there have been no repeat violations cited by the Department of Compliance.

With appreciation ...
 
Ihsan Shomran Yasiri
General Director

02/08/2017

:End my translation
by CarniLvr79
on Tue Feb 14, 2017 2:18 am
 
Search in: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Topic: CBI Announcement - 2/13/2017 - License, Bank Officer Appointees, and other adjustment activities...
Replies: 0
Views: 633

Back to top

Jump to: