Tuesday, January 30, 2024

The Bank of Jordan links Iraq through an electronic system with four Arab countries, 30 JAN

The Bank of Jordan links Iraq through an electronic system with four Arab countries

The Bank of Jordan announced, today, Tuesday, the opening of its branch in Iraq, confirming that Iraq is linked to an electronic system with four Arab countries, while indicating that the Central Bank is making great efforts to develop the banking sector in Iraq.

The General Manager of the Bank of Jordan Group, Saleh Hammad, told the Iraqi News Agency (INA): “Iraq includes a strategic investment market that has all the elements of a successful investment, so we are keen to be present in this market that leads to joint investments between Iraq and Jordan.” .

He explained, "Joint investments need financial products and services that meet all the requirements of various segments of businessmen, investors, and companies. Therefore, the value that any external institution will add to Iraq is the new technology that it can introduce on the basis of providing financial services.

He continued, "Financial services are not limited to technological luxury, but have become one of the basics of financial institutions, to improve their services and digital transformation, to meet customers' needs around the clock."

He pointed out that "the Bank of Jordan seeks, through its presence in Iraq, to meet the needs of its customers, whether Iraqis or Jordanians, by exploiting its network and electronic systems in the region of the Arab countries in which it is located."

He stated, “The Bank of Jordan is present in many Arab countries, including Iraq, Palestine, Bahrain, and Syria, and now we are in the process of opening a branch in the Kingdom of Saudi Arabia. Therefore, we see that there is integration and trade exchange between these countries in an electronic system, where the customer or investor can view... This system and the exchange of his money very easily,” stressing that “there are continuous efforts to improve the system existing at the Bank of Jordan.” 

Hammad stressed that "the Bank of Jordan can implement the electronic system in Iraq."
He pointed out that "there is joint cooperation with the Iraqi banking sector and the Governor of the Central Bank, and previous conferences were held between the Jordanian banking sector and the Iraqi banking sector, in order to improve the infrastructure and electronic services in Iraq."
He continued: "There were great joint efforts to provide support through existing expertise in Jordan, such as (Kalak) services, paying electronic bills, providing all requirements, and other services."

He pointed out that "the Central Bank of Iraq is making great efforts to develop the banking sector in Iraq, as it has taken a serious and strong approach to modify the system, and I believe that they are moving at a very good speed to shorten the time gap, to reach the ranks of developed countries with these services."

He believes that “one of the large, promising markets is the trade exchange between Iraq and Jordan, due to the geographical proximity between the two countries, so shipping and transportation operations are very easy, and this is what we seek in economic integration, which could generate a nucleus for investments that can compete in the Arab region.” link

 

"RV UPDATE" BY WOLVERINE, 30 JAN

 Bearded PatriotUSA

Telegram post
1/30/24

Forwarded from Wolverine:

I know I’ve been told to be quiet but I’m allowed to share things are have already been discussed before and allow me to refresh your memory.

The paymasters have received the money days ago.

1% will be paid out this week (please stay grounded).

This was confirmed.

Bonds will be paid out first which then triggers the 4B to go.

All this needs to go before the end of this month.

Just stay grounded and have faith that this is coming.

God bless,


Wolverine

https://t.me/Bearded_PatriotsUSA/14311

I’m back I was suspended for a week BY NADER FROM MID EAST

Senior US sanctions official in Baghdad to curb dollar smuggling to Iran, 30 JAN

 Senior US sanctions official in Baghdad to curb dollar smuggling to Iran

Washington seeks to dry up the sources of Iran’s funding for the militias

 Nelson discussed ways to protect Iraqi and international financial systems from criminal, corrupt and terrorist bodies.

 Nelson meets with senior officials led by Mohammed Shia Al-Sudani

WASHINGTON – A senior official in the US Treasury Department in Iraq discussed the file of Iran’s evasion of sanctions and held the financial sector in the country to be compatible with international standards, referring to efforts to curb the smuggling of the dollar to Tehran, as this comes amid great tension in the region, especially the killing of American soldiers near the Jordanian-Syrian border as a result of attacks believed to be from militias loyal to Tehran.
A Treasury Undersecretary for Terrorism and Financial Intelligence Brian Nelson, the ministry’s top sanctions official, traveled to Iraq on a visit that began on Sunday and lasted until Monday, where he met with senior Iraqi officials, including Prime Minister Mohammed Shia al-Sudani, as part of ongoing work to combat illicit financing, a U.S. State Department spokesman said.
He added that during the visit, Nelson discussed with his counterparts ways to protect Iraqi and international financial systems from criminal, corrupt and terrorist actors, noting that Washington will cooperate to protect the Iraqi financial sector “from (any) abuse by Iran or any other evil party.”
The Iraqi government came to power with the support of powerful Iran-backed parties and armed factions with interests in Iraq’s largely informal economy as the United States revealed that Tehran sought to evade sanctions by smuggling the dollar from Iraq through a complex financial system controlled by political forces and militias loyal to the Iranian regime.
“From the perspective of the Treasury Department, I think we are really satisfied with the transparency tools put in place by the Central Bank of Iraq to identify illicit financial flows that pass through the Iraqi financial system,” Nelson said Monday. But he warned that Iraq should always put the risks of sanctions into its eyes.

Iraq must always put the risks of sanctions to its eyes

“We will continue to monitor Iraqi individuals, companies and banks that operate for or on behalf of groups designated by the United States as terrorist,” he added.
The United States on Monday designated Al-Huda Bank Iraq as a foreign financial institution of major concern regarding money laundering and accused it of acting as a conduit to finance terrorism.
The Treasury Department’s Financial Crime Service also proposed a decision to separate the bank from the U.S. financial system. Washington has also imposed sanctions on the bank’s owner.
“Bank Al-Huda and its foreign sponsors, including Iran and its agents, are diverting funds that could have supported the legitimate business and economic aspirations of the Iraqi people,” the Treasury said in a statement. These bad actors fuel violence that threatens Iraq’s stability and the lives of Americans and Iraqis alike.”
Nelson’s visit to Iraq comes as the United States seeks to crack down on a group of Iranian-backed proxies at a time when there are attacks on Israeli and U.S. targets and other interests, given the situation in Gaza, Iraq, Lebanon, Syria and Yemen.
Washington asked Iraq to address the ongoing risks of the misuse of the US currency in Iraqi commercial banks, and in July it banned 14 Iraqi banks from conducting dollar transactions in a major campaign targeting the illegal use of the dollar.


With reserves of more than $100 billion in the United States, Iraq relies heavily on Washington’s goodwill to ensure that oil revenues and money are not subject to U.S. sanctions.
Iraq’s central bank governor said Iraq is committed to implementing stricter financial regulations and combating dollar smuggling. Nelson is set to travel from Iraq to the UAE where Washington has also expressed concerns about sanctions evasion.

https://middle-east-online

ZIM BOND NOTES: Walkaway Rate vs. Humanitarian Rate BY BONNIE, 30 JAN

Walkaway Rate vs.Humanitarian Rate 


Walkaway Rate vs. Humanitarian Rate

$30-50M

  • Little to no oversight without a project
  • Spend/bless your share as you please

$30-50M + Project Funding (Potentially Unlimited)

  • Some help/oversight with a project
  • Spend/bless your share as you please
  • Oversight on the remaining funds

~ Submitted by Bonnie via email

Iraq Dinar - Banking Sector - International - Sustainability - Developme...BY MILITAMAN

The Central Bank of Iraq reveals the reason for America imposing sanctions on Al-Huda Bank, 30 JAN

 The Central Bank of Iraq reveals the reason for America imposing sanctions on Al-Huda Bank

Shafaq News/ The Central Bank of Iraq revealed, on Tuesday, that the US Treasury Department had imposed sanctions on the Iraqi “Al-Huda” Bank, attributing the reason to its activities in 2022.

The Central Bank of Iraq stated in a statement today that the bank did not participate in the foreign currency buying and selling window during the year 2023, stressing that it continues to provide its banking services without dealing in the US dollar and is allowed to deal in other foreign currencies.

Yesterday, Monday, the US Treasury Department included the Iraqi Al-Huda Bank on the sanctions list, as it is a source of major concern regarding money laundering because it “acts as a channel for financing terrorism by Iran.”

A US Treasury statement, viewed by Shafaq News Agency, said, “Al-Huda Bank, an Iraqi bank that acts as a channel for financing terrorism, as a foreign financial institution raises a major concern about money laundering,” noting that “the Financial Crimes Enforcement Network (FinCEN) proposed a rule… It would separate the bank from the US financial system by prohibiting local financial institutions and agencies from opening or maintaining a correspondent account for or on behalf of Al Huda Bank, in addition to imposing sanctions on the bank’s owner by the Office of Foreign Assets Control (OFAC).

According to Treasury, Al-Huda Bank, and its foreign sponsors, including Iran and its proxy groups, are diverting funds that could support the legitimate businesses and economic aspirations of the Iraqi people, and these bad actors are fueling violence that threatens the stability of Iraq and the lives of American and Iraqi citizens alike.

According to the US Treasury statement, Al-Huda Bank has for years exploited its access to US dollars to support designated foreign terrorist organizations including the Iranian Revolutionary Guard, as well as Iraqi militia groups allied with Iran including Kataib Hezbollah and Asaib Ahl al-Haq.

The statement indicated, “The Chairman of the Board of Directors of Al-Huda Bank is complicit in Al-Huda Bank’s illicit financial activities, including money laundering through front companies that hide the true nature of the parties involved in the illicit transactions, which ultimately enables the financing of terrorism.”

shafaq.com

TIDBIT FROM NADER FROM MID EAST, 23 NOV

   Nader From The Mid East    We will not go more than $4 so don't waste your time and ask question about $16, $8, $11 and $12.    Don&#...