Elmerf123456: Iran To Launch Offshore Bank To Process International Payments … Iran is to launch an offshore bank on one of its Gulf islands “within a month”, according to a report by the official IRNA news agency, as it continues to seeks ways around restrictions on international payments..… LINK
Elmerf123456: If you go back last two weeks and assemble all the information has been shared both on open mike dinar recaps several Iraqi media posts and of course what Okie had to share….. You should be able to see a clear picture now
Elmerf123456: The defeat of ISIS. The whole grand theater is unfolding right before our very eyes
Elmerf123456 : Buckle up it's about to get real
Fireball92: Just a point of more 'confirmation' F26 commented Fri IHO that Mosul was done, they wait to announce TIMING
RVAlready: This does feel like it is over. Iraq has accepted the loans, now they have to RV the currency and increase production, so that they can start paying them back. Therefore, I expect us to be at the bank fairly soon.
Ecubucs: Continue to keep the faith.... I've been in this a LONG time and first found out from the son of a US Congressman... I KNOW this is real!!! It Will Happen!!! Just has been pushed off WAY Longer than what was intended... I STILL believe we are on the Very Cusp of this happening! Chin Up!
Ecubucs: We are Still in a Great position.... I'm personally waiting for one certain person to sign the paperwork needed of this to happen for the US Banking System and then We're ALL ON like Donkey Kong!!!
Linnieg: edubucs I thought everybody had signed and there were NO reasons for hold up, according to Ray. That's the problem. It changes all the time and just continues to push it out.
Ecubucs: lynnieg, there's one more that MUST be signed... That's why I'm concerned about this weekend news concerning the base info... I know that signature hasn't occurred and it makes me question how anyone can exchange yet?
BStine: Ecubucs..What is that signature that is needed?
Ecubucs: bstine, it's the signature needed to activate the funds for the US Banking System... More specific WF. Although, the bases may not be considered part of the US Banking System and therefore may have some latitude!
SteveI Will this be our month is anyone's guess but the pressure is mounting daily for Iraq to get their act together and start complying with global standards. Doing this Iraq's way can only go on for so long.
Now you have the IMF breathing down their backs and the citizens continued pressure.
Readyfor Riches: Hi folks. does anyone remember hearing on one of the calls a while back that rather than exchanging at a bank we might be going to offsite locations like military bases or other known secured site? Seems it might have been yoseph who said that. Just remembered it and seems rather strange that now we are hearing retired or active military can exchange at certain bases.
Wyzurd69: I remember Airports as well Ready..
ReadyforRiches: guess it doesn't really matter, just thought it kinda interesting we are hearing about military exchanges now.
CuitiePie: GM well if were ALL waiting for Iraq to capture Mosul well check out this video the only thing I can say is were going to the bank..lol
KLS : Mosul was taken weeks ago, done....media moved onto Fallujah, we had weeks there to clear and flag went up. My theory agree with Elmer, perimeter clearing....announce flag goes up (rabbit out of the hat). "Illusionist" look over here, ahhhhhh, but it is already done...
LarryH: We need to look at the logic and info. Iraq will be the first to RV.
1. The country has more natural resources than all the countries combined. Minerals, soil, gold, oil, gas, coal, ect.
2. No other county that has RV has never never has been given so much help by other government institutions. BIS, IMF, WB. ect.
3. No other countries have been forgiven for debts has much has Iraq has.
So due to so much info, news, proof and U.S. Involvement in my IMO and due to contacts i have meet over the years. I've been in this investment since 2003. This will happen for sure very soon so lets relax and enjoy your great forethought. Thank for your time and thanks for everyone that has put time in this great journey.
Frank26: Well done. IMO ........... There is no doubt the RV is coming just don't know when............. TY for Your post.
Aloha Friend \m/ KTFA Frank
RVDoc: Please forgive me for asking Frank, but in your humble opinion, do you have any thoughts on if Mosul will take about the same time to plant the flag as Fallujah?
Frank26: Understand ............... YOU seek MOSUL because we taught You this.
We do not…. for it was over TWO MONTHS ago that ............. It was over. KTFA Frank:
Monday, June 6, 2016 - 02:00
Banking Reform Bill Tightens Oversight
Discussing the direction of the new legislature, which will replace a former controversial bill sent to the pervious parliament, Qazavi said that lenders' shareholder structure will be subject to strict scrutiny in terms of individual ownership.
"This means that if a shareholder wants to own 10-50% of a bank's shares, regulations have been put in place so they know what conditions must be met in order to be part-owners of an institution," he told Fars News Agency.
Furthermore "penalties have been set for those who provide false information when forming a credit institution. To select CEOs and board members for banks and credit institutions, professional criteria has been defined."
The deputy economy minister for banking, insurance and state-owned companies added that the bill will be ready during his upcoming meetings with the deputy governor of the CBI so that it could be finalized during a meeting between the economy minister and the CBI governor.
The bill also determines the platform for banking activities and services and how branches of foreign banks can be established.
A New Feature
According to the current laws, clients keep their deposits in banks, giving lenders control over how their money could be lent or spent. But according to the new provisions, banks will spend the deposits only with the customer's consent.
On creating and bolstering new institutions within the banking reform bill, the official said: "Plans call for the formation of ranking and rating of the firms. Moreover, the authority and responsibility of the Deposit Guarantee Fund and the Association of Banking and Credit Investment Consultants have been reinforced and Iran Private Banks' Association has been given legal status."
The CBI last year established a 'Deposit Guarantee Fund' to beef up its regulatory oversight of monetary and banking operations.
The deputy economy minister referred to the reform bill sent to the previous parliament. "That plan focused on the allocation of resources and because it had many points in common with the new reform bill, close to 90% of the views of the previous chamber is considered in the amended bill," which makes the early approval of the bill more likely by the new lawmakers.
Among other things, the previous draft bill called for the founding a body at the CBI to supervise the banks’ compliance with Sharia-based regulations. The body would comprise the CBI governor, his deputy for supervisory affairs, five Muslim clerics with expertise in banking and monetary issues and a legal expert.
The government and the CBI then insisted that the provisions would further complicate the already beleaguered banking system.