**Governor of CBI statement**

[easyrider]

Governor of the Central Bank of Iraq's (statement): the opening of branches of banks of U.S., French and Lebanese in Baghdad
Author: Al Bayan wrote: May 5, 2014 
Statement / Jassim al-Tai

Bey revealed the governor of the Iraqi Central Abdel Basset Turki from near the opening of branches of U.S. banks and the French and Lebanese in Iraq. 

Turki said in a special statement (the statement), it will soon be opening branches of U.S. banks, including Pocket Morkn and Citibank, noting that the investment opportunities that would be granted to these banks will not be available in the same way for other banks in Baghdad. 

He said the number of Lebanese banks submitted their requests to work in Iraq as the work permit has been granted to three of them as well as requests for French banks. 

He said the Central Bank of Iraq has a bill to regulate the work of banks and anti-money laundering as well as the draft of the new law of the Iraqi Central Bank. 

He said that Iraq will provide more opportunities for investment 

For these banks to exercise its role, noting that the Central Bank of Iraq is a sponsor and an observer of the banks operating in Iraq. 

And the project to delete the zeros of the central bank governor said that the new measures will be there by the middle of this year, the bank raised about the new currency and the deletion of zeros, indicating that the bank has a very large mass of cash. He added that the Central Bank of Iraq in connection with a credit rating of private banks in Iraq during the next term for the nomination of the first tranche developed for these banks to exercise receive deposits from the government of Iraq and the provision of services to the government, adding that he will then move on to all the Iraqi banking system concerning the acceptance of deposits and credit organization. 

He stressed that the bank is keen to be Iraq's banking system during the first half of the year 2015 completely unprepared to receive all modern services and advanced applications in the banking world.

http://translate.google.com/translate?hl=en&sl=ar&u=http://albayaniq.com/%3Fp%3D18658&prev=/search%3Fq%3D%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%2

 

Edited May 5, 2014 by easyrider

[Tubbs]

B   M !!

[easyrider]

heres some commentary i got from a member partytime revolving around the date July 1:

 

Hmmm....Middle of the year, Iraq to release the LD's

Kuwait to issue new currency July 1, 2014

And here in the U.S. FATCA starts July 1, 2014

In 2010, the U.S. Congress passed House of Representatives bill H.R. 2847.

Hidden within this bill is a provision known as "FATCA," which stands for the Foreign Account Tax Compliance Act.

This bill does several important things, as of July 1st, 2014:

1. It forces all worldwide banks to comply with the IRS if they have any transactions in U.S. dollars.

2. Because the U.S. dollar is still the world's reserve currency, it essentially means ALL WORLDWIDE BANKS, except for the smallest community institutions, must comply.

3. To comply, banks can either spend a fortune segmenting, tracking, and potentially "taxing" their U.S. dollar transactions by as much as 30%... or they can simply get rid of all of their U.S. customers.

In other words, the U.S. government is saying to all banks around the world: If you deal in U.S. dollars in any way, you have to give us full, unfettered access to all of these transactions... or you have to get rid of all of your U.S. customers.

The repercussions here are enormous:

For one, it means more and more institutions will move AWAY from the U.S. dollar, accelerating the already rapid worldwide move away from the dollar as reserve currency.

For another, it essentially makes it extremely difficult, if not impossible, for the average American to get some of his money out of U.S. dollars, and into more stable currencies via foreign banks.

Already, we've seen two of the largest banks in the world, JP Morgan Chase and HSBC, basically eliminate international wire transfers. Many small banks have reportedly followed suit.

And we expect many, many more banks to basically outlaw international wire transfers, the run up to this new July 1st law.

This is a clear example of Capital Controls. This is what a broke and desperate government does when they know the value of their currency is about to collapse.

We've seen governments around the globe pull these stunts over and over again... right before a currency devaluation or collapse.

And now it's happenings right here, in the United States of America.

[caz1104]

Regardless of outcome I like many here just want to see this come to a definite conclusion. Hopefully to the positive I might add.

[easyrider]

It increases the number of countries that have intergovernmental agreements with the U.S. to 48. That is up from the 26 agreements that are actually signed. Here are the 26 nations so far, with links to their agreements:

 

   1. Bermuda

   2. Canada

   3. Cayman Islands

   4. Chile

   5. Costa Rica

   6. Denmark

   7. Finland

   8. France

   9. Germany

  10. Guernsey

  11. Hungary

  12. Honduras

  13. Ireland

  14. Isle of Man

  15. Italy

  16. Japan

  17. Jersey

  18. Luxembourg

  19. Malta

  20. Mauritius

  21. Mexico

  22. Netherlands

  23. Norway

  24. Spain

  25. Switzerland

  26. United Kingdom

 

Going from 26 to 48 is huge, and a smart move by the U.S. The announcement allows a country’s financial institutions to comply with FATCA via their domestic regulators. Overnight, which nations got added to the prior list of 26?

 

   1. Australia

   2. Austria

   3. Belgium

   4. Brazil

   5. British Virgin Islands

   6. Croatia

   7. Czech Republic

   8. Estonia

   9. Gibraltar

  10. Jamaica

  11. Kosovo

  12. Latvia

  13. Liechtenstein

  14. Lithuania

  15. New Zealand

  16. Poland

  17. Portugal

  18. Qatar

  19. Slovenia

  20. South Africa

  21. South Korea

  22. Romania

 

Before the announcement, many foreign businesses were unsure how to comply with FATCA by July 1 if their home countries had not yet signed IGA deals with the United States. Now, there is more certainty. And plainly, the list of countries with IGAs is likely to grow further.

 

Hey, what about China, Hong Kong, Russia and Singapore? The jury is still out. http://www.forbes.com/sites/robertwood/2014/04/07/incredibly-48-nations-embrace-fatca-to-reveal-u-s-depositors/

[staunch]

I wonder what middle of the year means???? This is already the 5th month with Ramadan right around the corner!

[easyrider]

I wonder what middle of the year means???? This is already the 5th month with Ramadan right around the corner!

july 1 is middle of year, like i said it all points to something happening by july 1 if these statements are accurate IMHO

Edited May 5, 2014 by easyrider

[SnowGlobe7]

I do not see Panama...yet

july 1 is middle of year

 

Even on the Iraqi calendar?

[dinarbeleiver]

Easyrider you ROCK!!!! Thanks pal

[moneysoon]

_{I have called Q3 for this thing. The ESX and ISX have something happening big at the end of June!}

[staunch]

Will make for a good 4th!!!

[easyrider]

I do not see Panama...yet

 

Even on the Iraqi calendar?

 

I do not see Panama...yet

 

Even on the Iraqi calendar?

if we take "the middle of the year" in a literal sense, 365 (days) / 2 = 182.5. If we go tohttp://www.fs.fed.us/fire/partners/fepp/julian-calendar.pdf, we can see that the 182nd day is July 1.

Edited May 5, 2014 by easyrider

[SnowGlobe7]

   I think it would be funny easy...if this is meant literally after all the news and research we have done....to me nothing from Iraq is literal!!!!

Edited May 5, 2014 by SnowGlobe7

[easyrider]

   I think it would be funny easy...if this is meant literally after all the news and research we have done....to me nothing from Iraq is literal!!!!

haha yea very true.. a BIG "IF" they are telling the truth.

[ASUMama]

July 1 is their fiscal year start. Shabibi said they would never reform the currency in the middle of the year so July 1,seems possible. However, is this article saying middle of the calendar year (meaning July 1) or middle of the fiscal year (meaning Jan 1, 2015)? Here's hoping July 1 is our time!

[Badrabbit]

I wonder if the BRICS nations are going to be part of this or if they will intentionally not sign this agreement to attract investors? and WE will be investors...I can say that I am NOT going to deposit bunches of cash in banks to have it confiscated (for the betterment of society;) and or have the value of our dollar drop, I will cash in enough to pay off my belongings and fix or repair everything on my Property and cash in as needed, as the US Dollar drops each IQD note should increase in value.  

[SnowGlobe7]

good point ASUMama

[RAGARCIA62]

Sounds like good news to me. Happy Cinco de Mayo, D V. Be safe.

[easyrider]

July 1 is their fiscal year start. Shabibi said they would never reform the currency in the middle of the year so July 1,seems possible. However, is this article saying middle of the calendar year (meaning July 1) or middle of the fiscal year (meaning Jan 1, 2015)? Here's hoping July 1 is our time!

The middle of the year is the equivalent to the beginning of a year.

Accounting wise.

BUT ........ An MR can occur like a volcano erupting. At .......... Any time it choose. 

[Badrabbit]

I just checked to be sure, Iraq calendar and fiscal year are the same-Jan 1 to Dec 31.

[calkid11]

Thank you

[ckriebs]

Ed and I are cashing in enough to payoff our bills. Then we will take the rest still in foreign denominations aboard and exchange it for stable foreign currency. If it is not in us dollars as we read the new law then we can do an exchange without getting hit. Yes we would need to pay taxes on interest but at least our money is safe unlike here.

 

I pulled some funding from my savings account and got a letter from my bank saying the federal government is restricting what we can pull. That is p*ssed me off. So we will find other alternatives. I did not invest my time and money for DC to control my future.

[Francie26]

That looks fairly accurate to me. lol

That looks fairly accurate to me. lol

[tankdude]

July 1 is their fiscal year start. Shabibi said they would never reform the currency in the middle of the year so July 1,seems possible. However, is this article saying middle of the calendar year (meaning July 1) or middle of the fiscal year (meaning Jan 1, 2015)? Here's hoping July 1 is our time!

Hate to be a spoil sport, but the Iraq government runs on the calendar year. They do not have a fiscal year.

[R Veyron]

Telling the world what cards you hold and what you intend to do is mighty bold.  If I were playing cards with them I'd fold.