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Iraqi Banks 100% ready for the RV!

Phoenix

By Phoenix,
in Iraq & Dinar Related News

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Phoenix
Phoenix

Check this out. We are 100% ready to go. SWIFT codes for Iraqi Banks are up...and 100% functional! http://swiftcodes.org/country/iraq/

Phoenix
Phoenix

This means that the Iraqi Banks are "Live" and ready for all international transactions. The system is up...running....and "hot" The Iraqi Banking system is now connected and active internationally

Phoenix
Phoenix

Not correct. Warka funding had to be done through a third party bank in Germany. Citi linked up with Warka last year and in the beginning they also routed through Germany but then linked inter bank

djgabrielie Newbie

djgabrielie

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Definitions of Swift Codes on the Web:

* ISO 9362 (also known as SWIFT-BIC, BIC code, SWIFT ID or SWIFT code) is a standard format of Bank Identifier Codes approved by the International Organization for Standardization (ISO). It is the unique identification code of a particular bank. ...

en.wikipedia.org/wiki/Swift_Codes

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bear Newbie

bear

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Thanks Phoenix, Does this mean they are ready to do international transfers? With my little knowledge in the banking field this is what I am assuming.

I see this is huge. You guys are quick on the draw. Many post came while I was typing :rolleyes:

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kittycat Newbie

kittycat

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Definitions of Swift Codes on the Web:

* ISO 9362 (also known as SWIFT-BIC, BIC code, SWIFT ID or SWIFT code) is a standard format of Bank Identifier Codes approved by the International Organization for Standardization (ISO). It is the unique identification code of a particular bank. ...

en.wikipedia.org/wiki/Swift_Codes

Forgive my ignorance on the subject of banking.......but what significance does this mean. Does it mean that the Iraqi banks are new to this ISO and is this status an indicator that the RV is another step closer?

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MrRich Newbie

MrRich

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I have absolutely no idea what a Swift(international trading code?) code is, but this looks as good as anything I have seen lately.Thanks for the post! GO RV!! B)

ISO 9362 (also known as SWIFT-BIC, BIC code, SWIFT ID or SWIFT code) is a standard format of Business Identifier Codes approved by the International Organization for Standardization (ISO). It is a unique identification code for both financial and non-financial institutions[1]. These codes are used when transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks. The codes can sometimes be found on account statements.

Swift Codes

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CAJUNCADD Newbie

CAJUNCADD

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http://en.wikipedia.org/wiki/ISO_9362

ISO 9362 (also known as SWIFT-BIC, BIC code, SWIFT ID or SWIFT code) is a standard format of Business Identifier Codes approved by the International Organization for Standardization (ISO). It is a unique identification code for both financial and non-financial institutions[1]. These codes are used when transferring money between banks, particularly for international wire transfers, and also for the exchange of other messages between banks. The codes can sometimes be found on account statements.

The overlapping issue between ISO 9362 and ISO 13616 is discussed in the article International Bank Account Number (also called IBAN).

The latest edition is ISO 9362:2009 (dated 2009-10-01). The SWIFT code is 8 or 11 characters, made up of:

4 letters: Institution Code or bank code.

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

2 letters or digits: location code

if the second character is "0", then it is typically a test BIC as opposed to a BIC used on the live network.

if the second character is "1", then it denotes a passive participant in the SWIFT network

if the second character is "2", then it typically indicates a reverse billing BIC, where the recipient pays for the message

as opposed to the more usual mode whereby the sender pays for the message.

3 letters or digits: branch code, optional ('XXX' for primary office)

Where an 8-digit code is given, it may be assumed that it refers to the primary office.

SWIFT Standards, a division of The Society for Worldwide Interbank Financial Telecommunication (SWIFT), handles the registration of these codes. For this reason, Business Identifier Codes (BICs) are often called SWIFT addresses or codes.

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Phoenix Newbie

Phoenix

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This means that the Iraqi Banks are "Live" and ready for all international transactions.

The system is up...running....and "hot"

The Iraqi Banking system is now connected and active internationally and all systems are GO!~

I had heard rumors that the system went "hot" but this is the first evidence

that indeed it is not a rumor but 100% factual and true.

Best of luck to all!

Phoenix

Edited by Phoenix
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Phoenix Newbie

Phoenix

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Thanks for the post Phoenix

I am not sure what all this means but can only assume we are getting closer to the RV - else I am sure you would not have posted it.

GoRV.gif

This means that the Iraqi Banks are "Live" and ready for all international transactions.

The system is up...running....and "hot"

The Iraqi Banking system is now connected and active internationally and all systems are GO!~

I had heard rumors that the system went "hot" but this is the first evidence

that indeed it is not a rumor but 100% factual and true.

Best of luck to all!

Phoenix

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Phoenix Newbie

Phoenix

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Was this a required step for the RV to happen? I am only asking because I have never heard it mentioned in any post - ever.

Yes it was one of the major technical aspects that had to happen.

It has not been covered much as it is almost a given that this would happen (had to happen in fact)

I would call this a major "marker" of the approaching RV.

What is good about this "marker" is that it is one everyone can see with their own eyes.

No rumor...no speculation...no "boots on the ground" but your very own eyes.

Phoenix

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BIRDDOG Newbie

BIRDDOG

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This means that the Iraqi Banks are "Live" and ready for all international transactions.

The system is up...running....and "hot"

The Iraqi Banking system is now connected and active internationally and all systems are GO!~

I had heard rumors that the system went "hot" but this is the first evidence

that indeed it is not a rumor but 100% factual and true.

Best of luck to all!

Phoenix

You are the man!!!!

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