Swift Codes

[Tankwalker]

I have seen several posts from different "gurus" on other sites regarding the swift codes and have to the more trusted DV site to see if anything is being mentioned here and haven't seen anything on it.  I may have missed it...sorry if I did.  Admittedly, I don't fully understand the swift codes and how they apply to the RV but thought I would bring over a few rumors and see if there are any thoughts.

 

 

 

From 4-9-14....

[millionday] today the information was brought in by GRRR about the swift codes -- all of those that dont remember or were not invested at that time know that it has been a while since the announcement of the swift code placement going on were very exciting ans we will discuss why

    [millionday] the thing is this for those of you that have not been following this from before

    [millionday] each bank that does international banking or in a summary and kind of shortened way -- can do any kind of electronic banking are given these identification numbers

    [millionday] when the report came out concerning the beginning of the swift codes -- we danced in the streets
~~~

 

       [millionday] so lets look at what we have now

    [millionday] also they have meaning in those codes -- each digit represents one meaning or the other --we have an explanation we will look at but know this - when we looked at them before -- representative of a portion of the code was "xxx" - not anymore - brb with some of this info

    [imperator] The SWIFT network is a messaging infrastructure, not a payments system, which provides users with a private international communications link among themselves. The actual funds movements (payments) are completed through correspondent bank relationships, Fedwire, or CHIPS. 

Movement of payments denominated in different currencies occurs through correspondent bank relationships or over funds transfer systems in the relevant country. 

In addition to customer and bank funds transfers, SWIFT is used to transmit foreign exchange confirmations, debit and credit entry confirmations, statements, collections, and documentary credits.

    [millionday] we are not going to fly through this so those of us that are not familiar with banking the point is made to us all  - international banking can be tricky so this will help

    [millionday] SWIFT code is a standard format of Bank Identifier Codes (BIC) and it is unique identification code for a particular bank. 

These codes are used when transferring money between banks, particularly for international wire transfers. Banks also used the codes for exchanging other messages between them. The SWIFT code consists of 8 or 11 characters. When 8-digits code is given, it refers to the primary office.

    [millionday] note -- this is simply stating that each digit means something

    [millionday] the reason that we as a researching group are excited is that these codes are complete for Iraq - here comes more - this is the explanation of the code

    [millionday] First 4 characters - bank code (only letters) Next 2 characters - ISO 3166-1 alpha-2 country code (only letters) Next 2 characters - location code (letters and digits) (passive participant will have "1" in the second character) Last 3 characters - branch code, optional ('XXX' for primary office) (letters and digits)

    [millionday] now when the beginning happened and they only had he three XXX

    [millionday] so lets look at this

    [millionday] Currently, there are over 7,500 “live” SWIFT codes. The "live" codes are for the partners who are actively connected to the SWIFT network. On top of that, there are more than 10,000 additional codes, which are used for manual transactions. 

These additional codes are for the passive participants. The registrations of SWIFT Codes are handled by Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) and their headquarters is located in La Hulpe, Belgium.

 SWIFT is the registered trademarks of S.W.I.F.T. SCRL with a registered address at Avenue Adèle 1, B-1310 La Hulpe, Belgium.

    [millionday] welcome to all that have just come in

    [millionday] The registrations of SWIFT Codes are handled by Society for Worldwide Interbank Financial Telecommunication (“SWIFT”)

    [millionday] now that the info is over and the exciting part is coming up  --  get ready

    [millionday] here is the example of the first list on the formal

    [millionday] 1 ABU DHABI ISLAMIC BANK BAGHDAD ABDIIQBA 2 AL BARAKA TURK KATILIM BANKASI A.S. ERBIL BRANCH ARBIL BTFHIQBA 3 AL RAFIDAIN BANK BAGHDAD RAFBIQBA 4 AL-BILAD ISLAMIC BANK FOR INVESTMENT AND FINANCE BAGHDAD AIIFIQBA 5 AL-HUDA BANK BAGHDAD BHDAIQBA 6 AL-IRAQIA FOR MONEY TRANSFER CO. BAGHDAD IRAQIQBA 7

    [millionday] the name of the bank and the code - there ar 57 that are able to have a code due to standards but -  do you see this code for iraqi bank codes ?  smile -- here is what it is

    [millionday] Send money within the US with Western Union Family and friends are especially important during this time of year. Wherever you need to send money in the world, from the convenience of your couch or on the go, you can count on Western Union with special pricing starting at $1 fee.

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    [millionday] whoooopow    - now it has been a while since the beginning of this project and now they have an Iraqi swift code implying business and that is huge huge woooopow

    [millionday] i have to say the investment bank is also outside of Iraq by base ] this is absolutely huge news 

    [millionday] The United States hosted a top level Iraqi interagency delegation to participate in the March 3-7 Iraq Business Week activities in Washington D.C. Iraqi Deputy Prime Minister Rowsch Shaways led a 30+ member public and private sector delegation to network with scores of major U.S. firms and explore expanding business opportunities in Iraq, now the United States' 27th largest goods trading partner. 

The delegation – which included Iraq’s Minister of Trade and the Chairman of Iraq’s National Investment Commission – addressed trade and investment challenges in Iraq, and discussed external financing options and their potential to assist in Iraq’s development. 

The trip culminated with a Ministry of Trade delegation visit to Houston, TX to explore establishing a trade facilitation office, and travel by the Deputy Prime Minister to New York City where he met with a number of additional U.S. firms.

    [millionday] development bank swift cones to this >>>> http://totalannuityrates ··· 04&gid=1

    [millionday] so this is great great news fo this to be done and prepared

 

This one is from today....

Newshound Guru Millionday  all swift codes are established for international banking...it appears that western union is set up -- the lower denoms and coins are distributed into the banks...they have passed many many foreign investment laws and they are in washington about the economic policies having some very important meetings -- hmmm -- dont hold your breath because it is unhealthy but oh boy cross everything!!

And on 4-10-14....

Sager:   Swift Codes For Iraq. I believe this is new, but would need confirmation:

http://www.theswiftcodes.com/iraq/

Zeke : Greetings .......... whats shaken !!!! 

No "Passive" code on any bank in Iraq. A passive code indicates manual transaction. Do not know if that is good or bad. Maybe Nova could help out on this.

SWIFT Code or BIC code are part of ISO 9362 standards. It is a standard format of Business Identifier Codes (“BIC”). BIC sometimes also refers to “Bank Identifier Code”SWIFT Code or BIC Code is a unique code to identify financial and non-financial institutions. 

These codes are mostly used when transferring money between banks, especially for international wire transfers or telegraphic transfer (“TT”). The codes are also used in exchanging messages between banks.
....

 

The code consists of 8 or 11 characters. If only eight characters code is given, it is assumed that it refers to the primary office. The characters are made up of,

•First 4 letters :- bank or institution code

•Next 2 letters :- ISO 3166-1 alpha-2 country code

•Next 2 letters or digits :- location code ◦if the second character is “0″, then it is typically a test code instead of the code used on the live network.

◦if the second character is “1″, then it indicates a passive participant in the SWIFT network. The code used for manual transaction.

◦if the second character is “2″, then it indicates a reverse billing code. It means that, the recipient pays for the message instead of usual mode whereby the sender pays for the message.

•3 letters or digits :- branch code, optional (‘XXX’ for primary office)

http://swiftcodes.net/

  ************

Sager » April 10th, 2014, IMO, I take this as EXCELLENT news (not being passive is very telling imo

*************

Zeke:  Sager .......... I totally agree !!!! If no manual transaction(s), on any bank, would that not indicate "Electronic" Transaction(s) ???

If that be the case .......... wouldn't it stand to reason that an "International Status" is viable NOW ????

************

NOVA » April 10th, 2014, 

It's Both Good & Bad..The Swift Codes Have Been In Place For A Few Years. 
But You Have Been Unable To Use The Codes With The IQD

It Does Look Like They Have Been Updated A Little, So This Might Speak To The IQD Going International Quite Soon. 

BAD Because We All Want To Know The Date!!!!!!

Nova

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Stage3Alpha:

[sandfly]

THANKS

[calkid11]

Thank you

[dontlop]

I want to see Iraqs official credit rating

I've seen this before I've even been on that link before http://www.theswiftcodes.com/iraq/

I don't remember what it looked like a couple years ago

18 CENTRAL BANK OF IRAQ BAGHDAD CBIRIQBA <<< cbi swift code

[rockfl9]

I am sure that Iraq(MOF) has some sort of a credit rating as it already has borrowed some funds.

[SnowGlobe7]

if changing the swift codes in any way changes the currency code...it is bad

[GasCan]

if changing the swift codes in any way changes the currency code...it is bad

it does not change the currency code. 

[rulesforrebels]

I don't hav the time to read all that nonsense in the transcript but you guys do realize a swift code is nothing secret or new to the Dinar. ANytime you want to send a wire internationally you need the other parties swift code which is basicallly like what they call a routing number outside of the US. It's normally like two letter country code and 16 numbers so to a wire to poland for example it would be like PL18462946293828238. There are websites where you can type ina  swiftcode and find out the bank name and address its associated with.

[Hawaii 50]

I don't hav the time to read all that nonsense in the transcript but you guys do realize a swift code is nothing secret or new to the Dinar. ANytime you want to send a wire internationally you need the other parties swift code which is basicallly like what they call a routing number outside of the US. It's normally like two letter country code and 16 numbers so to a wire to poland for example it would be like PL18462946293828238. There are websites where you can type ina  swiftcode and find out the bank name and address its associated with.

True it's a simple procedure that's been in place at banking institutions for a long time. The guru garbage they feed each other is funny swift code changes are not a normal thing some people even keep them on file in there domestic and international wires books, for most banks it's the part of there audit requirements. Gurus are in the I don't know instead of the know. Sometimes they tell so many lies they actually start to believe them.

[SnowGlobe7]

thanks ya'all

[ReinMan]

That long-haired intro post is just to confuse.

 

Swift codes are operations that are always in play as a matter of function and not some OH CRAP MY TRAIN TICKET FELL OUT OF MY POCKET FARKING WHOOPSIE.

 

The issue is just a teased term from the process; it is another semantic seed to nurture a panic plant in the garden of RV.