United Bank investment stop dealing with a number of his customers and closing their accounts

[SocalDinar]

United Bank investment stop dealing with a number of his customers and closing their accounts

Editor: HL | AA

Thursday 14 February 2013 05: 30 GMT

Alsumaria news/Baghdad

The Iraqi Central Bank, disclosed Thursday, shutting down United Bank for investment deal with a number of his clients and close their accounts, the Bloc's due to suspicions of money laundering.

The Bank said in a statement received "alsumaria news", "United Bank investment stopped dealing with a number of his clients and close their accounts," the Bloc's due to suspicions on money laundering ".

The Bank said that "the Bank amounted to the money laundering reporting Office at the Central Bank of Iraq of this resolution".

Money laundering is the process of recycling of funds from illegal actions in the areas of investment channels to hide the real source and look as if they had been generated from a legitimate source. Examples of such unlawful acts of funds from drug trafficking, slave, prostitution, weapons, robbery and theft.

Economic observers underlines the growing phenomenon of money laundering in Iraq encouraged by political and security conditions in the country and in recent years.

The number of private banks in Iraq reached more than 30 banks, but did not play a central role in the economic development process in Iraq because of a lack of capital, and that most government departments not dealing with private banks due to a lack of confidence in the private sector generally and the private banks in particular.

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.alsumarianews.com%2Far%2F3%2F56080%2Fnews-details-.html

Edited February 14, 2013 by SocalDinar

[Goldiegirl]

Is this one of the banks that some of you all have invested with in the ISX??? Just wondering.

[TrinityeXchange]

Is this one of the banks that some of you all have invested with in the ISX??? Just wondering.

yes the ticker symbol is BUND. i owned this stock for a couple of months turning approximately 3% profit.

[Bristin]

yes the ticker symbol is BUND. i owned this stock for a couple of months turning approximately 3% profit.

I have this stock in my banking portfolio as well and am slightly down at the moment. I don’t have much so the damage is minimal. Its not the only pony I’m riding.

[TrinityeXchange]

I have this stock in my banking portfolio as well and am slightly down at the moment. I don’t have much so the damage is minimal. Its not the only pony I’m riding.

blessings to you my friend on turning a profit on it.

i remember buying it @ 1.77 points and got too greedy. it went to something like 1.99 and i violated my policy of taking 10% and getting out. i thought it would keep going and it fell and teetered around 1.8 ever since.

hopefully it will surge again and you can take good profits.