BACKDOC: RECENTLY WE SAW OUR OWN GOVT. USE ONE OF IRANS TWO PAYMENT SYSTEMS DIDN'T WE? RIGHT! WELL THIS ARTICLE CONFIRMS EXACTLY THE SAME. CASH!
LOOK FOR BROKERAGE HOUSES TO BE USED AS AN ALTERNATIVE TO DIRECT BANK TIES. GOING DIGITAL WILL SIMPLIFY THEIR TRANSACTIONS, THATS FOR SURE! OTHER COUNTRIES SHOULD ALL COME ON LINE AT THE SAME TIME! MARCH IS GOING TO BE A BUSY MONTH!
U.S DEBT RESTRUCTURING WILL BE AMONG THE MIX ALONG WITH ARTICLE 50 BEING INVOKED. LET'S NOT FORGET THE FREXIT WILL OCCUR AROUND THAT TIME TOO.
WHEN IT COMES TO BLACK GOLD, CHANGES OF SETTLEMENT ARE IN THE AIR! REMEMBER SAUDI ARABIA NOW HAS CURRENCY RECIPROCITY WITH CHINA.
THEY CAN NOW SETTLE ALL OF THEIR OIL SALES IN CHINESE YUAN IF THEY WANT TOO.
SINCE CHINA IS THEIR LARGEST CUSTOMER IT SEEMS PROBABLE THIS IS ON THE WAY!
WITH IRAN SETTLING IN EUROS AND JAPANESE YEN A SHIFT IS ABOUT TO TAKE PLACE GLOBALLY! ALL OF RUSSIA'S OIL WILL BE SETTLED IN YUAN AS WE KNOW AND THEY ARE THE LARGEST PRODUCER NOW!
ONCE THE DIGITAL WORLD GOES ONLINE THE SETTLEMENT SHIFT WILL BEGIN TO RESHAPE THE GLOBAL BLACK GOLD CURRENCY VELOCITY!
LESS PETRO DOLLARS WILL BE NEEDED WHICH COULD BE DISRUPTIVE TO THE DOLLAR FOR A SHORT WHILE UNTIL GLOBAL BALANCE IS RE-ACHIEVED!
WILL THIS BE THE TIME THE GLOBAL 152 TRILLION DEBT WILL GET RE-STRUCTURED? MMMMM TIME WILL SHOW US MORE! BLESSINGS! DOC IMO
Thunderhawk: Afghan central bank governor calls for banking ties to develop trade
Governor of the Central Bank of Afghanistan Khalil Sediq on Monday called for regulating banking ties to develop trade with the Islamic Republic of Iran.
Afghan central bank governor calls for banking ties to develop trade
Sediq made the remarks in a meeting with Governor of Central Bank of Iran Valiollah Seif.
He said that Iran and Afghanistan enjoy extensive trade relations, but, unfortunately, major portion of transactions are carried outside the banking system causing risk for Iranian and Afghan businessmen.
'Through practical measures, we try to channel trade to the banking course so as to prevent likely risks.'
He noted that Iranian and Afghan central banks share common experience and both sides move towards better regulation of the financial system.
Sediq underlined that Afghan central bank has adopted appropriate and comprehensive regulations to fight terrorism financing and money laundering as well as corporate sovereignty.
Seif said for his part that Iran and Afghanistan have entered a stage in history of their trade that marks highest volume of exchanges but the method of trade they use is in cash and through traditional money exchangers.
Such methods can be improved through the banking system, he added.
'Extensive trade between Iran and Afghanistan should be further promoted through banking ties and we seek expansion of the brokerage ties between banks of the two sides so as to minimize the trade risk.'
He made clear that Iranian and Afghan officials are now discussing appropriate brokerage ties and volume of exchanges will be upgraded through the banking system and opening up Letters of Credit.
'Central Bank of Afghanistan follows highly advanced laws and has managed to have positive record in terms of inflation control and forex stabilization. This has easily made great deal of help to future planning and we can exchange experience with the bank.'
According to statistics released by the Islamic Republic Customs Administration, Iran's exports to Afghanistan stood at $1.16 billion in value in the first half (March 20-September 20) of the current Iranian year of 1395 (started on March 20), while importing $10.66 million worth goods.
BACKDOC: NOW THE PICTURE IS BECOMING CLEARER ISN'T IT? THE REASON THE BANKING CHANNELS ARE OPENING UP SLOWLY IS BECAUSE THE EU BANKS DON'T HAVE THE DIGITAL BUILD OUT ARCHITECTURE THAT THE U.K. HAS!
AN EARLIER ARTICLE WE JUST SHARED WITH YOU CLEARLY SHOWS THAT GERMANY IS NOT THERE YET! THEY ARE ONLY NOW EXPERIMENTING WITH BLOCKCHAIN! THE DIGITAL REALITY IS GOING TO BE THE SAVIOR TO THE FINANCIAL CRISIS COMING IMO!
IRAN AND ITS SHIA BROTHER ARE DIGITAL AND THAT REQUIRES A DIFFERENT ARCHITECTURE DOESN'T IT? COULD THIS BE WHY THE PLAN IS TO BE READY SOME TIME AFTER THEIR MARCH 20TH NEW YEAR? MMMMM DOC IMO
Thunderhawk: Banking relation with Iran is moving, says British law expert
Sue Millar of Stephenson Harwood Law firm says British banks are generally very interested to re-establish connections with Iran and claim that there is a real movement happening in this area.
Banking relation with Iran is moving, says British law expert
In an interview with IRNA in London, and commenting on her opinion about the current banking situation, Millar said, 'We act for the British Iranian banks and have been heavily involved in discussions with industries, the regulatory authority and the government about how to break the banking impasse.
The good news is that there is a real movement and it is well intended, but it is frustratingly slow.'
On the reason why things are moving slow, she said, 'It is a combination of the architecture of the banking system in the UK which is different to the architecture to the banking system in Europe.
Each bank has a direct clearing relationship in Europe, but here in the UK you clear through another bank and those are the banks tend to be large banks who have found themselves on the wrong side of very large penalties from the US.
So they are naturally far more cautious than as warranted.'
Q. To a question if there is a prospect of normalization of banking system between Britain and Iran, the British expert said,' I think there is and it will happen. I am a long term optimist. I have said this and would say just wait another six months.
The banking industry in the UK are generally always very interested in Iran, but they want to be second or third in. They like to see what the other banks do first.
I think there are relatively simple steps that could be put in place to resolve this and I think that there is a political will to do so, but previously the UK government was looking for the commercial sector to fill the gap and now I think there is a grown realization that there might need to be some intervention.'
On the the impact of Brexit on trade with Iran, she said, 'It is a difficult question, but if the reality is that we are not going to have any deals with the EU and we are just going to be a trading partner like anyone else, it certainly is the case that the UK needs to find additional market.
Brexit should act as an accelerator real trade with Iran.'
Asked if Donald Trump retreats from JCPOA, would Britain preserve its position, the British sepert said, 'I think so far as the JCPOA is concerned, the next president is irrelevant to JCPOA. By that, I mean that in order to tear up the JCPOA it has to be on the basis that Iran has breached the fundamentals of its obligation.
What the US or any other signatories cannot do is just to say I am walking away from their international obligation. I do not think that is going to happen. I think the JCPOA will hold and I do think that the next president is irrelevant to the question of the future of the JCPOA.
*Sue Millar is a finance litigation specialist. She focuses on investment banking disputes, involving highly complex products and structures. Her expertise extends to commercial and private banking and trade finance disputes.
BACKDOC: YOU SEE THIS IS THE KEY FOR IRAN HAVING A BACKDOOR TO PETRO DOLLARS AND SINCE SWIFT IS NOW IN THE PROCESS OF UPGRADING TO DIGITAL IN PARTNERSHIP WITH THE CIPS,
BY MARCH 2OTH IT WILL BE GAME ON WITH A SINGLE PAYMENT SYSTEM FOR IRAN THAT IS DIGITAL! BINGO! DOC IMO
Thunderhawk: EDB has brokerage ties with 105 foreign banks
Export Development Bank (EDB) of Iran, expanding its relations with other countries, has established brokerage ties with 105 foreign banks from 42 countries.
EDB has brokerage ties with 105 foreign banks
EDB of Iran established brokerage ties with some 64 banks from 20 European countries, 36 banks from 17 Asian countries, 4 banks from Africa and 1 bank from Latin America.
In foreign exchange, Asian countries, namely China, South Korea, India, Oman, Qatar, Turkey can exchange currencies by euro, yuan, won, rupee, Omani rial, yen and Turkish lira.
European countries, namely Germany, Austria, Italy, Belgium, Switzerland and France also would be able to exchange euro and franc.
Export Development Bank of Iran has re-established Society for Worldwide Interbank Financial Telecommunication (SWIFT) relations with some target banks in the world and is exchanging brokerage documents with some other banks.