SWIFT and BIC Code of Iraq, All banks, All cities

[Wiljor]

Thanks Yota, now we're talkin.  

[Freedomwish]

1 hour ago, chris2028 said:

Wow. Just WOW! Thanks Yota! 

 

Please correct me if I am wrong, but does this mean if I had money I wanted to transfer from my Fifth Third account to say, Rasheed Bank I just give them this code and its electronically transferred correct? Was this something that was possible a few months ago or is this all new? Thanks!

 

Hey buddy, just wishing to chime in per my previous experience working at a private bank years ago - yes, swift codes are like "banking addresses" per say, when making any international wire/funds transfer anywhere in the world, with options to include any instructions you have for your transfer and to the beneficiary. 

 

So yup, this is freaking awesome and I say this sober!! 

[Synopsis]

1 hour ago, yota691 said:

Mosul Bank

Location	Swift Code
Mosul	MOUUIQBA

Kurdistan International Bank

Location	Swift Code
Arbil	KIBIIQBA
Arbil Peshwa Erbil	KIBIIQBAERB
Baghdad Baghdad	KIBIIQBABGH
Duhok Duhok	KIBIIQBADHK
Sulayminya Sulayminya	KIBIIQBASUL

 

Byblos Bank Sal Iraq

Location	Swift Code
Arbil	BYBAIQBA
Baghdad Byblos Bank Sal	BYBAIQBABAG
Basrah	BYBAIQBABAS

 

The CBI main branch is in Baghdad. The four CBI branches are located in Basra, Solayminya, Arbil, and MOSUL. All these locations have a bank with a Swift Code.

 

Maybe gaining some velocity in the Banking Sector in Iraq for "something" or "nothing"???!!!

 

Looks like we'll see!!!

 

Go Moola Nova!

[chris2028]

9 minutes ago, Freedomwish said:

Hey buddy, just wishing to chime in per my previous experience working at a private bank years ago - yes, swift codes are like "banking addresses" per say, when making any international wire/funds transfer anywhere in the world, with options to include any instructions you have for your transfer and to the beneficiary. 

 

So yup, this is freaking awesome and I say this sober!! 

Awesome! Thanks Freedomwish for the info. From one Jack Daniels drinker to another, CHEERS my friend!

[Spider]

Looks like std charted also have swift code...hm 

[presence]

Good morning Yota - thank you very much for your spectacular organization and timeline regarding this post and other topics. It's easy to see how progress is made. The Swift codes are definitely a great development - public disclosure of a bank's ID doesn't get any better. I look forward to waking up the next few days to view the latest developments- that is, unless I am awaken by a text in the middle of the night. 

[Officiallytook]

Wwwwhhhhaaaaaaaaaatt

[ChuckFinley]

Great stuff. 

[6ly410]

GO GO GO RVVV 

[MyLadiesDaddy]

1 hour ago, Freedomwish said:

and I say this sober!! 

NOOOOOOOOOO! Say it ain't so. 

[Laid Back]

Iraq banking system is ready for INTERNATIONAL BUSINESS.!

 

Go new monetary policy 

Go $1:1

[blueskyline]

Thank You Yota . Onward !...................................................................................................

[Half Crazy Runner]

I know absolutely nothing about banking, and even less about international banking. My question is, are these swift codes something Iraq has never had before (even years ago when their currency was traded internationally)? And are they something that is an absolute requirement for an internationally traded currency?

 

 

[brob]

16 minutes ago, Half Crazy Runner said:

I know absolutely nothing about banking, and even less about international banking. My question is, are these swift codes something Iraq has never had before (even years ago when their currency was traded internationally)? And are they something that is an absolute requirement for an internationally traded currency?

 

 

Hey Half Crazy Runner, I don't know a whole lot about it either so I wenna looken.  I know the IBAN numbers popped up in my Warka account around last October (more or less) and now Master Yota brings us this. Here's what Investopedia says:

What's the difference between an IBAN and a swift code?

By Investopedia.com

Share

 

 

A:

The main difference between an International Bank Account Number (IBAN) and a Society for Worldwide Interbank Financial Telecommunication (SWIFT) code lies in what they identify. A SWIFT code is used to identify a specific bank during international transaction, whereas IBAN is used to identify an individual account involved in the international transaction. Both play an essential role in ensuring the smooth running of the international financial market.

Prior to the introduction of these identification methods, there were no internationally-recognized, standardized methods of identifying bank accounts. The information that one country used to identify the bank and individual account was not necessarily recognized by the receiving country. Lack of standard practice meant there was no way to ensure that the information entered was correct. As a result, payments could theoretically be made to the wrong people or organizations. Similarly, payments could be delayed while the identifying details were confirmed. Missed, delayed and mistaken payments caused additional costs to both sending and receiving banks.

According to the European Payments Council, standardization was first introduced in 1997 with the publication of ISO 136:1997. However, concerns were raised, mainly by the European Committee for Banking Standards, that there was too much flexibility within the proposed standards. The reworked version of the standard included a ruling that required the IBAN for each country to be a fixed length. It also stipulated that only upper case letters could be used within the IBAN.

An IBAN allows for easy identification of the country the bank is situated in and the account number that is the recipient of the money transfer. The IBAN also acts as a method of checking that the transaction details are correct. This method of checking and identification is used within all European Union countries and the majority of other European countries. Exceptions to this, as of 2014, are Russia, Belarus, Ukraine and Armenia. Canada and the United States of America are two major countries that do not use the IBAN system. However, they recognize the system and process payments according to the system.

The SWIFT system predates attempts to standardize international banking transactions through IBAN. It remains the method by which the majority of international fund transfers are made. One of the main reasons for this is because the SWIFT messaging system allows banks to share a significant amount of financial data. This data includes the status of the account, debit and credit amounts, and details related to the money transfer. Banks often use the Bank Identifier Code, more commonly recognized as BIC, instead of the SWIFT code. However, the two are easily interchangeable; both contain a mix of letters and numbers and are generally between eight and 11 characters in length.

Being able to access both of these identifiers is essential to ensuring a quick and successful international transfer. The identifier required by the bank depends on the bank being used, the recipient's bank and the countries in which the transfer is originated and received. However, without either, the chances of the transfer being completed successfully diminish considerably.

Read more: What's the difference between an IBAN and a swift code? | Investopedia http://www.investopedia.com/ask/answers/100214/whats-difference-between-iban-and-swift-code.asp#ixzz4oFDuqgqu
 

[DinarThug]

On 1/10/2017 at 3:48 PM, SnowGlobe7 said:

Gals I am not a veteran...but Hubby is...do we qualify?

I do love me some fishing

 

 

We're All Dinar Vets - Does That Count ?  

 

     

 

[Synopsis]

32 minutes ago, Half Crazy Runner said:

I know absolutely nothing about banking, and even less about international banking. My question is, are these swift codes something Iraq has never had before (even years ago when their currency was traded internationally)? And are they something that is an absolute requirement for an internationally traded currency?

 

 

 

Excellent question Half Crazy Runner!

 

My opinion only, all the way through the Saddam era, Iraq had a Stone Age/Prehistoric national banking system with very limited international connectivity and only for those things absolutely necessary to accomplish Saddam's intentions. If I understand correctly, this was a physical paper trail only and, hence, was prime ground for promoting the corruption and money laundering of those inside Iraq. So I suspect the Iraqi SWIFT Codes were very, very limited up through the Saddam era.. Post Saddam era, it looks like an ultra modern banking system was put in place in Iraq that would rocket Iraq to the forefront of banking on an international scale and simultaneously drastically reduce the corruption and money laundering that existed with the physical paper trail only. Any news on modernizing these banking systems down to the Iraqi citizen is, in my opinion, extremely good news. In this case, the dissemination of these bank specific SWIFT codes to the noted banks is astronomically good news to allow for a volume on demand banking transactions to facilitate the rebuilding and economic growth of Iraq.

 

Maybe I'm overly optimistic but this, to me, is a huge step in the right direction and something we want/need to see about now!

 

The Best Of Your Weekend To You, Half Crazy Runner! 

 

Go Moola Nova!

[George Hayduke]

On 1/9/2017 at 3:50 AM, ladyGrace'sDaddy said:

The last time I was this excited was the day I married a woman half my age

 

Georgia or Alabama? 

[nannab]

Yeah our Yota! Your the fella 

[nannab]

Thanks a million brob 

[nannab]

10 minutes ago, DinarThug said:

 

We're All Dinar Vets - Does That Count ?  

 

     

 

 

 Absolutely! We have the mental scare's to prove it !!! We are a little bit crazier than before, and we are proud of it !!!! 

[yota691]

3 hours ago, Synopsis said:

The CBI main branch is in Baghdad. The four CBI branches are located in Basra, Solayminya, Arbil, and MOSUL. All these locations have a bank with a Swift Code.

Thanks Synopisi for pointing out the above...especially Arbil

[Wiljor]

40 minutes ago, Synopsis said:

 

Excellent question Half Crazy Runner!

 

My opinion only, all the way through the Saddam era, Iraq had a Stone Age/Prehistoric national banking system with very limited international connectivity and only for those things absolutely necessary to accomplish Saddam's intentions. If I understand correctly, this was a physical paper trail only and, hence, was prime ground for promoting the corruption and money laundering of those inside Iraq. So I suspect the Iraqi SWIFT Codes were very, very limited up through the Saddam era.. Post Saddam era, it looks like an ultra modern banking system was put in place in Iraq that would rocket Iraq to the forefront of banking on an international scale and simultaneously drastically reduce the corruption and money laundering that existed with the physical paper trail only. Any news on modernizing these banking systems down to the Iraqi citizen is, in my opinion, extremely good news. In this case, the dissemination of these bank specific SWIFT codes to the noted banks is astronomically good news to allow for a volume on demand banking transactions to facilitate the rebuilding and economic growth of Iraq.

 

Maybe I'm overly optimistic but this, to me, is a huge step in the right direction and something we want/need to see about now!

 

The Best Of Your Weekend To You, Half Crazy Runner! 

 

Go Moola Nova!

 

Yep, well articulated as always bro 

[Synopsis]

19 minutes ago, yota691 said:

Thanks Synopisi for pointing out the above...especially Arbil

 

 Yota! Thank You for all You do to keep us informed and Engaged!

 

2 minutes ago, Wiljor said:

 

Yep, well articulated as always bro 

 

Thank You, Bro! Thank You as well for all the articles You bring over and sharing your perspectives as well! 

 

!Que tenga un buen fin de semana mi hermano! (Have A Good Weekend My Brother!)

[MyLadiesDaddy]

1 hour ago, George Hayduke said:

 

Georgia or Alabama? 

Kansas,  who'd a thunk it ? 

[Half Crazy Runner]

1 hour ago, Synopsis said:

 

Excellent question Half Crazy Runner!

 

My opinion only, all the way through the Saddam era, Iraq had a Stone Age/Prehistoric national banking system with very limited international connectivity and only for those things absolutely necessary to accomplish Saddam's intentions. If I understand correctly, this was a physical paper trail only and, hence, was prime ground for promoting the corruption and money laundering of those inside Iraq. So I suspect the Iraqi SWIFT Codes were very, very limited up through the Saddam era.. Post Saddam era, it looks like an ultra modern banking system was put in place in Iraq that would rocket Iraq to the forefront of banking on an international scale and simultaneously drastically reduce the corruption and money laundering that existed with the physical paper trail only. Any news on modernizing these banking systems down to the Iraqi citizen is, in my opinion, extremely good news. In this case, the dissemination of these bank specific SWIFT codes to the noted banks is astronomically good news to allow for a volume on demand banking transactions to facilitate the rebuilding and economic growth of Iraq.

 

Maybe I'm overly optimistic but this, to me, is a huge step in the right direction and something we want/need to see about now!

 

The Best Of Your Weekend To You, Half Crazy Runner! 

 

Go Moola Nova!

 

Thank you so much for the detailed information!!  Most helpful indeed!  

 

I'm probably over optimistic too, but it's more fun than being a pessimist 😄

This dinar adventure has been like a trip to a Vegas casino, the hopes & dreams of striking it rich are worth the entertainment value!

 

So, here's to big dreams!  🥂 

 

Have a great weekend yourself!!  And, Go Moola Nova!