BACKDOC: ITS AMAZING WHAT HAS BEEN KEPT FROM THE WESTERN WORLD! IF IRAN WAS RIGHT ABOUT ITS TRADING PARTNER WE SHOULD BE APPROACHING THE 18TH GREEN SOON!
ALL GLORY BE TO GOD! DOC IMO
Strongcbm: YO DOC... I WAS SAYIN THE SAME THING... EVEN THOUGH AT FIRST I THOUGHT THE OTHER ARTICLE ABOUT THE S-CODES WAS ABOUT IRAQ... I CAME BACK TO SAY IRAN AND IRAQ ARE THE WONDER TWINS...IT'S ALL GOODER THAN GOOD ! ! !...
Thunderhawk: Iranian banking cards now connected to int'l financial system
An Istanbul-based payments startup said on Tuesday that it signed a deal that smooths the way for companies seeking to follow it into Iran’s dlrs 400 billion economy.
Iyzico’s agreement with Tehran-based electronic payments platform PECCO lets its customers process transactions from some 230 million payment cards that until recently weren’t connected to any financial system outside Iran, according to Barbaros Ozbugutu, Iyzico’s German-Turkish chief executive. The deal is the first of its kind, he said in an interview in Istanbul.
Since visiting Tehran last year, the founders of the World Bank-backed company have been working on expanding in Iran, Ozbugutu said. That gives them a foothold in a country that’s been so far untapped by U.S.-based competitors Paypal Holdings Inc. and Stripe Inc.
'We’re fulfilling the role Paypal was providing in places like Germany, where they were the preferred provider during that country’s digitalization phase,' Ozbugutu said of Iyzico’s home market. It made sense to expand to Iran because there are 'two major markets in the region with high card penetration, and they’re Iran and Turkey. Both have populations of 80 million, a very young population and quite high Internet penetration.'
Iyzico signed the deal to enter Iran after restrictions excluding the country from the SWIFT banking system began to be dismantled as part of an agreement over its nuclear program. In Iran, all banks are integrated into one unitary clearance system, called Shetab, which means Iyzico’s clients can sell to any card holder in the nation without establishing relationships with individual Iranian banks, Ozbugutu said.
Iyzico last year raised $6.2 million in a round led by the International Finance Corporation, or IFC, the investing arm of the World Bank. Its customers in Turkey include BMW, Allianz and online marketplace Sahibinden.com.
Scarlet: OMG THUNDERHAWK. After reading all you and Bacdoc's post last night and now this one, it seems to me that Iran just might rv their currency first. They are not playing by anyone else's rules but theirs. Amazing
BACKDOC: NO IMO! THEY WILL BE REVEALED TOGETHER, THATS WHY WE STUDY THEM!
Mountainman: "NOW" that SWIFT IS IN PLACE IRAN/ =INTERNATIONAL Status W/ the "BIG BOYS".......IFC/WORLD BANK......as an Investing ARM.....Well PUMP those "NEW VALUED" Weights......I Say........IMO......DONE Just "NOT" Served UP for EVERY ONES Eyes to SEE.......YET!!!!!!!!......IMO
BACKDOC: THE U.S. MAY HAVE LIMITED ENGAGEMENT WITH IRAN BUT THE REST OF THE WORLD WILL BE LOOKING FOR FINANCIAL OPPORTUNITIES! DOC IMO
Thunderhawk: German banks ready to inaugurate branch offices in Iran
German Bavaria's Minister for Economic Affairs Ilse Aigner said on Tuesday that German banks are ready to open branch offices in Iran.
Aigner told Chairman of Tehran Chamber of Commerce Masood Khansari , who is visiting Germany at the head of a commercial delegation, that in her upcoming visit to Iran she will carry good messages to Iran on part of his country for opening banking and insurance offices in Iran.
Khansari, for his part, noted that inter-banking issues, insurance of contracts and commercial exchanges are among obstacles to expansion of mutual relations.
The Iranian official said he had informed the German party of ongoing problems in related sectors.
Khansari said that over the past months, economic facilities have been provided by Iran and certain European countries, including Italy and France. 'One of the factors that can give an impetus to mutual economic cooperation is establishment of banking and insurance relations and in this connection, French and Italian industries have been able to take appropriate and serious steps.
He also highlighted the responsibility of Iranian and German private sectors for removing problems facing the small- and medium-sized institutions of Iran and Germany. He said for the time being, exchanges between Iranian and German banking systems is the requisite for expansion of mutual cooperation.
He suggested that German companies contribute to renewable industries, water and sewage treatment, auto manufacturing, steel, mining, pharmaceuticals, chemical industries, electronics and tourism and embark on joint investment with Iranian institutions.
Thunderhawk: BINGO - BANGO - BONGO!!!!!!
Refah Kargaran Bank re-connects to SWIFT
Tehran, Feb 16, IRNA - Public Relations Department of Refah Kargaran Bank said in a statement on Tuesday that the bank has been re-connected to Society for Worldwide Interbank Financial Telecommunication (SWIFT).
The reconnection occurs after four years of halt, said the statement.
Bank Refah was among first Iranian banks which filed application to reconnect to SWIFT, it said.
Central Bank of Iran (CBI) allocated special code and password to reconnect Refah Kargaran Bank to SWIFT on Monday.
Some 190 messages calling for transactions through SWIFT were conducted with success on the same day, it said.
SWIFT is used by nearly every bank around the world to send payment messages that lead to the transfer of money across international borders.
It provides a wide range of service including transmitting letters of credit, payments and securities transactions among 9,700 banks in 209 countries.
A central theme of the sanctions was putting restrictions on Iran’s banking transactions with the international financial institutions through various mechanisms including shutting SWIFT services to the country.
However, it became off limits to Iranian banks in 2012 after the implementation of the US-led sanctions against the country.
Accordingly, around 30 Iranian banks were blocked from using SWIFT services, literally cutting off Iran from the global banking system.
BACKDOC: THIS IS WHY BACKDOC TOLD YOU MONTHS AGO TO WATCH WHAT IRAN DOES! "THE DEAL"
ASSUMING THEY BOTH HAVE LAUNCHED ON THE 8TH WE WAIT FOR "THE LESS THAN A MONTH", FOR THEM BOTH TO GO TOGETHER! HEE HEE DOC IMO
Mountainman: NICE.......HAWKEYE.........VERY NICE.....IMO!!!!!!!!.......Can You say "T I M I N G".........MONEY $$$$$$$$ …… So DOC........SINCE IRAN is READY.......That Means Since they HAVE A "DOUBLE DATE" w/IRAQ.....IMO......IRAQ is About to "SHOW" Herself W/HER Partner/"FIGURATIVELY SPEAKING"...that is!!!!!!!!........Here Comes The BRIDE.....What A "Wedding".......Things that MAKE You go Hmmm!!!!!!!!
Dnari131: Wow Doc.. some powerful articles last night and this morning! The Old Opec Versus the up and coming new Opec imo trying to take the championship belt away. This should be interesting. Heck if Iran floors the gas pedal threatening coming out with a rate first and it causes Iraq to go even faster then I give it a thumbs up...these folks will be debating,arguing and fighting way after the RV is over and done with as they've done so for over 2,000 years. It's their way of life and the last thing they gonna do is listen to who they don't trust to begin at this stage being released from out of the cage with but jmo
Thunderhawk: GE's Oil & Gas chief explores opportunities in Iran
Lorenzo Simonelli, CEO of General Electric’s oil and gas business, visited Iran to explore business opportunities in the country.
Simonelli ended his Tehran visit on Monday (February 15), according to a report by Wall Street Journal.
“In line with the easing of sanctions, we have begun looking at potential business opportunities in Iran, while fully complying with the rules laid out by the U.S. government,” a GE spokeswoman said.
In spite of removal of anti-Iran sanctions in January, Washington still does not allow US companies to trade with Iran, unless it is through a foreign subsidiary.
London based GE Oil & Gas, which manufactures oil drilling and processing equipment, is a subsidiary of its American parent company.
Announcement of 'Implementation Day' of the July deal known as the Joint Comprehensive Plan of Action (JCPOA) has been on January 16 as the anti-Iran sanctions were lifted.
Mountainman: Now WHY??? USA is That???......IMO.....IRAN/IRAQ...As FRANK said Go to The "WEDDING"......TOGETHER!!!!!!!!.......My Guys You Both LOOK like a PAIR of (8)'s......IMO......
Thunderhawk: CBI governor calls for boosting economic cooperation with Japan
Governor of Central Bank of Iran Valiollah Seif on Tuesday called for expansion of economic and financial cooperation with Japan.
Seif made the remarks in a meeting with visiting Japanese trade and banking delegation.
He expressed pleasure with allocation of $10 billion by Japan to facilitate trade cooperation with Iran.
The CBI governor said that the move made by Japan would reinforce economic relations.
'The Islamic Republic of Iran considered Japan as an East Asian economic partner,' Seif added.
Touching upon the Iran-Japan ancient-old relations, he added the ground is properly prepared for expansion of economic cooperation.
'There is huge untapped economic capacities in Iran.
Seif said that Iran welcomes the Japanese businessmen to utilize the opportunities available in Iran for joint venture investment.
Mountainman: In "DUE" TIME/ing..........JAPAN you Too can EXCHANGE NEGATIVE Interest for POSITIVE......Real Soon.....IMO
BACKDOC: SINCE WE CAN'T ALWAYS SEE EVERY IRON SHOT ON THE FINANCIAL FAIRWAY WE WATCH WHERE THEY HIT THE BALL!
ACTIONS MEAN THINGS! DOC IMO
Thunderhawk: IRAN & IRAQ WONDER TWIN POWERS ACTIVATE