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Central Bank calls his "JP Morgan" the U.S. to open a branch in Iraq

SocalDinar

By SocalDinar,
in Iraq & Dinar Related News

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SocalDinar Proficient

SocalDinar

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Tomorrow's Press / BAGHDAD: The governor of the Iraqi Central Bank and the Agency Abdel Basset Turki, on Tuesday, that the bank had invited his counterpart, "JP Morgan" the U.S. to open a branch in the country, while noting that the opening of the banks will facilitate transfers of financial and opens credit banking reliable global by the citizens.

He said Turkish for "tomorrow's Press," that "there are major banks opened offices in Baghdad and there are requests to open new branches inevitably to the Department of Central Bank of Iraq," noting that "Citigroup Bank of America is the first banking group to open an office in Baghdad."

He added that "the central bank extended an invitation to JPMorgan the U.S. presence in Iraq by opening branches in Baghdad and the provinces," stressing that "the opening of such major banks branches in the country will facilitate transfers of financial and opens credits global banking reliable by the citizens." .

The United States of American States, which has good relations with Iraq, which has a joint cooperation in the agricultural and commercial sectors.

 

 

 

 

http://alghadpress.com/ar/NewsDetails.aspx?NewsID=12843

 

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k98nights Newbie

k98nights

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Central Bank calls his "JP Morgan" the U.S. to open a branch in Iraq

 

 

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محافظ البنك المركزي وكالة عبد الباسط تركي Governor of the Central Bank and the Agency Abdel Basset Turki
 

 

 
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الكاتب: ab المحرر: al المراسل: ar Author: ab Editor: al Correspondent: ar
عدد القراءات: 121 Number of readings: 121
 
2014/04/22 12:35 04/22/2014 12:35

 

الغد برس/ بغداد: اكد محافظ البنك المركزي العراقي وكالة عبد الباسط تركي، الثلاثاء، أن البنك وجه دعوة الى نظيره "جي بي مورجان" الامريكي لفتح فرع له في البلاد، فيما اشار الى أن افتتاح المصارف سيسهل عمليات التحويل المالي ويفتح اعتمادات مصرفية عالمية موثوقة من قبل المواطنين. Tomorrow's Press / BAGHDAD: The governor of the Iraqi Central Bank and the Agency Abdel Basset Turki, on Tuesday, that the bank had invited his counterpart, "JP Morgan" the U.S. to open a branch in the country, while noting that the opening of the banks will facilitate transfers of financial and opens credit banking reliable global by the citizens.

وقال تركي لـ"الغد برس"، إن "هناك مصارف كبرى فتحت مكاتب لها في بغداد وهناك طلبات لفتح فروع جديدة محالة الى ادارة البنك المركزي العراقي"، مبيناً أن "مجموعة سيتي غروب المصرفية الأمريكية تعد اول مجموعة مصرفية تفتتح مكتباً لها في بغداد". He said Turkish for "tomorrow's Press," that "there are major banks opened offices in Baghdad and there are requests to open new branches inevitably to the Department of Central Bank of Iraq," noting that "Citigroup Bank of America is the first banking group to open an office in Baghdad."

واضاف أن "البنك المركزي وجه دعوة الى بنك جي بي مورجان الامريكي للتواجد في العراق عبر فتح فروع له في بغداد والمحافظات"، مؤكداً أن "فتح مثل هذه المصارف الكبرى فروعا لها في البلاد سيسهل عمليات التحويل المالي ويفتح اعتمادات مصرفية عالمية موثوقة من قبل المواطنين". He added that "the central bank extended an invitation to JPMorgan the U.S. presence in Iraq by opening branches in Baghdad and the provinces," stressing that "the opening of such major banks branches in the country will facilitate transfers of financial and opens credits global banking reliable by the citizens." .

وتعتبر الولايات المتحدة الامريكية من الدول التي ترتبط بعلاقات جيدة مع العراق، والتي لديها تعاونا مشتركا في القطاعات الزراعية والتجارية. The United States of American States, which has good relations with Iraq, which has a joint cooperation in the agricultural and commercial sectors.

 

http://alghadpress.com/ar/news/12843/البنك-المركزي-يدعو-نظيره-جي-بي-مورج

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Dinarian64 Newbie

Dinarian64

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JP Morgan responded...?

As I understand it they are not sold on Iraq due to violence. Likely Iraq would need to pay them. If they say yes this would be VERY good news as JP Morgan Will only do so if they see a stable situation with the investment

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Indraman Newbie

Indraman

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I have been in this almost 5 yrs...this last year has been amazing in terms of the forward progress that Iraq has made...I don't think we will have much longer before we know the outcome of this extreme and bumpy roller coaster ride.

 

Indy

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zul Newbie

zul

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Tomorrow's Press / BAGHDAD: The governor of the Iraqi Central Bank and the Agency Abdel Basset Turki, on Tuesday, that the bank had invited his counterpart, "JP Morgan" the U.S. to open a branch in the country, while noting that the opening of the banks will facilitate transfers of financial and opens credit banking reliable global by the citizens.

He said Turkish for "tomorrow's Press," that "there are major banks opened offices in Baghdad and there are requests to open new branches inevitably to the Department of Central Bank of Iraq," noting that "Citigroup Bank of America is the first banking group to open an office in Baghdad."

He added that "the central bank extended an invitation to JPMorgan the U.S. presence in Iraq by opening branches in Baghdad and the provinces," stressing that "the opening of such major banks branches in the country will facilitate transfers of financial and opens credits global banking reliable by the citizens." .

The United States of American States, which has good relations with Iraq, which has a joint cooperation in the agricultural and commercial sectors.

 

 

 

 

http://alghadpress.com/ar/NewsDetails.aspx?NewsID=12843

 

 

Perhaps it is just coincidence, but as soon as CBI announced money transfer company could now participate in auctions, Turki invited JP Morgan (a company involves in international wire transfers) .to open branches in Iraq, 

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Butifldrm Apprentice

Butifldrm

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The Keywords here are Article VIII.  These banks can do nothing with our Dinar without that designation, except send it back to the CBI at face value at this time. The mere fact that Iraq is one of the richest countries in the world with the least amount of debt is a huge plus.  The fact that after 21 years, Iraq no longer needs the protection of funds abroad, amounting between 70 to 170 Billion USD.  All this means nothing until they move into article VIII.   Yes, there are countries that are member of the WTO who are still under article XIV, but they have limitations on trade, and do not have the potential that Iraq has.  They must convert to an article VIII currency to enable trade.  Iraq is all about building their infrastructure.  They would profit more in the process by having an internationally recognizably traded currency.  They would profit even more by increasing their buying power.  WE all know what that means. Let the FREE MARKET REIGN!  :)

Edited by Butifldrm
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SocalDinar Proficient

SocalDinar

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The Keywords here are Article VIII.  These banks can do nothing with our Dinar without that designation, except send it back to the CBI at face value at this time. The mere fact that Iraq is one of the richest countries in the world with the least amount of debt is a huge plus.  The fact that after 21 years, Iraq no longer needs the protection of funds abroad, amounting between 70 to 170 Billion USD.  All this means nothing until they move into article VIII.   Yes, there are countries that are member of the WTO who are still under article XIV, but they have limitations on trade, and do not have the potential that Iraq has.  They must convert to an article VIII currency to enable trade.  Iraq is all about building their infrastructure.  They would profit more in the process by having an internationally recognizably traded currency.  They would profit even more by increasing their buying power.  WE all know what that means. Let the FREE MARKET REIGN!  :)

I think Iraq is  getting close to being ready to accept the obligations of article VIII Butifldrm.

 

Here is the link to the IMFs articles of agreement for those that may not understand what Butifldrm is talking about.  Thanks for your insight!

 

https://docs.google.com/viewer?a=v&pid=sites&srcid=ZWFzeWVuZ2xpc2g0dS5jb218d3d3fGd4OjdhOGJjMWYzZDMzM2U2ODI

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waterman13 Newbie

waterman13

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The Keywords here are Article VIII.  These banks can do nothing with our Dinar without that designation, except send it back to the CBI at face value at this time. The mere fact that Iraq is one of the richest countries in the world with the least amount of debt is a huge plus.  The fact that after 21 years, Iraq no longer needs the protection of funds abroad, amounting between 70 to 170 Billion USD.  All this means nothing until they move into article VIII.   Yes, there are countries that are member of the WTO who are still under article XIV, but they have limitations on trade, and do not have the potential that Iraq has.  They must convert to an article VIII currency to enable trade.  Iraq is all about building their infrastructure.  They would profit more in the process by having an internationally recognizably traded currency.  They would profit even more by increasing their buying power.  WE all know what that means. Let the FREE MARKET REIGN!  :)

Agreed, thanks Butifld

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Tirebiter Newbie

Tirebiter

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The Keywords here are Article VIII.  These banks can do nothing with our Dinar without that designation, except send it back to the CBI at face value at this time. The mere fact that Iraq is one of the richest countries in the world with the least amount of debt is a huge plus.  The fact that after 21 years, Iraq no longer needs the protection of funds abroad, amounting between 70 to 170 Billion USD.  All this means nothing until they move into article VIII.   Yes, there are countries that are member of the WTO who are still under article XIV, but they have limitations on trade, and do not have the potential that Iraq has.  They must convert to an article VIII currency to enable trade.  Iraq is all about building their infrastructure.  They would profit more in the process by having an internationally recognizably traded currency.  They would profit even more by increasing their buying power.  WE all know what that means. Let the FREE MARKET REIGN!  :)

I like the way you think.  Especially the concept of low debt.  Interestingly, I hope the U.S. recognizes this before we have to hit rock bottom like Iraq before we figure it out.

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TennesseeCherokee Newbie

TennesseeCherokee

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I don't want anyone to think that I'm complaining but I pray it's soon.....and not Iraq's version of soon.

I've been in this a very long time, as most of you have been.

I've been sick,terminally sick, and trying to hold on to the end of this,not for me,but for my family and friends benefit.

I made several promises to my God that I'm praying that I can keep.

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boosterbglee Grand Master

boosterbglee

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I don't want anyone to think that I'm complaining but I pray it's soon.....and not Iraq's version of soon.

I've been in this a very long time, as most of you have been.

I've been sick,terminally sick, and trying to hold on to the end of this,not for me,but for my family and friends benefit.

I made several promises to my God that I'm praying that I can keep.

 

My prayers are with you...my friend!    :praying:

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