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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


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    Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars

    Rocky
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    • Post n°1

    Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars Empty Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars

    Post by Rocky Mon 25 Jun 2018, 11:48 am

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    2018/06/25 14:48

    (Encyclopedia of this Day News | [You must be registered and logged in to see this link.] ) - Alsumaria News / Bgdadokd Central Bank of Iraq, on Monday, that the granting ofleave for foreign banks to be anyone who has a capital equivalent to $ 50 million, indicating that it may not be granted licenses only to foreign banks that are subject to the control of the authority "The other conditions for granting licenses are that the balance of any bank with another bank does not exceed 5% of its capital. In any case, its balances with other banks should not exceed 20%," the bank said. If this percentage is raised for more reasonable reasons, it requires the approval of a permanent Director General Monitoring of banking. "


    Note: The content entitled (Central: grant a license to foreign banks to those with capital of 50 million dollars) was published first on the site (Alsumaria News) and does not bear the encyclopedia of this day news content in any way. 
    You can find out the details of this address (central: granting a license to foreign banks to those with capital of 50 million dollars) through its original source (Alsumaria News).




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    • Post n°2

    Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars Empty Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars M

    Post by Rocky Mon 25 Jun 2018, 11:54 am

    Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars

    Monday 25 June


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    confirmed the Iraqi Central Bank , on Monday, that the granting of leave for foreign banks to be anyone who has a capital equivalent to $ 50 million, indicating that it may not be granted licenses only to foreign banks that are subject to the supervision of the supervisory authority in the country where its headquarters is located . 

    The bank said in a statement received Alsumaria News, "The foreign banks that seek to leave for the exercise of one of its branches in Iraq must have a capital equivalent to 50 million dollars, regardless of the number of branches, including the main branch."
    The bank added that "another condition for granting licenses is that the balance of any bank with another bank does not exceed 5% of its capital and in any case should not increase its balance with other banks of 20%, and if the increase of that percentage for more reasonable reasons It needs the approval of the Director General of the Banking Control Department. " 

    He explained that "to establish an entity belonging to a foreign bank or to open a branch of a foreign bank in Iraq must obtain a license from the Central Bank and may only grant licenses to foreign banks that are subject to unified and comprehensive control of the supervisory authority in the country where the headquarters of the foreign bank" . 

    The Central Bank noted that "within six months of submitting the application for incorporation of the bank to meet the conditions are notified by the bank to approve the establishment or rejection of the bank and if approved is published in the Official Gazette."


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    • Post n°3

    Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars Empty The Central Bank sets the rules for establishing a branch of a foreign bank in Iraq

    Post by Rocky Mon 25 Jun 2018, 11:58 am

    The Central Bank sets the rules for establishing a branch of a foreign bank in Iraq
    June 25 2018 02:56 PM
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    [rtl][rtl]Central Bank of Iraq[/rtl]
    [/rtl]
    Follow-Up



    The Central Bank of Iraq said on Monday that foreign banks seeking to obtain a leave to work for one of its branches in Iraq must have a capital of 50 million dollars regardless of the number of branches, including the main branch.


    The bank said in a statement that "another condition for granting licenses is that the balance of any bank with another bank does not exceed 5% of its capital and in any case should not increase its assets with other banks of 20%, and if the increase of that percentage for more than For reasonable reasons, it needs the approval of the Director General of the Banking Control Department. "


    The statement pointed out that "the establishment of an entity belonging to a foreign bank or the opening of a branch of a foreign bank in Iraq must obtain a license from the Central Bank and may only grant licenses to foreign banks that are subject to unified and comprehensive control of the supervisory authority in the country where the headquarters of the bank Foreign ".


    The Central Bank pointed out that "within six months of submitting the application for incorporation of the bank to meet the conditions are notified by the bank to approve the establishment or rejection of the bank and if approved is published in the Official Gazette." 



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    Lobo
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    • Post n°4

    Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars Empty Re: Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars

    Post by Lobo Mon 25 Jun 2018, 12:10 pm

    Thanks Rocky, they ARE ON THEIR WAY, just wish they would hurry UP

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    • Post n°5

    Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars Empty Re: Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars

    Post by weslin3 Mon 25 Jun 2018, 12:39 pm

    The Central Bank pointed out that "within six months of submitting the application for incorporation of the bank to meet the conditions are notified by the bank to approve the establishment or rejection of the bank and if approved is published in the Official Gazette."



    Hope they have already applied and have been notified and we are not on a 6 month wait.
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    • Post n°6

    Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars Empty Re: Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars

    Post by Lobo Mon 25 Jun 2018, 12:52 pm

    The wait period is for the banks not the RV - the CBI can do it whenever they feel the time is right.
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    • Post n°7

    Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars Empty The Central Bank requires a capital equivalent to 50 million dollars for the foreign bank's leave

    Post by Rocky Tue 26 Jun 2018, 3:03 am

    The Central Bank requires a capital equivalent to 50 million dollars for the foreign bank's leave




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    The Central Bank of Iraq, to ​​give leave to foreign banks to have a capital equivalent to 50 million dollars, indicating that it is permissible to give licenses only to foreign banks that are subject to the control of the supervisory authority in the country where the headquarters is located.
    The Central Bank said in a statement, read by "Economy News", that "foreign banks that seek leave to work for one of its branches in Iraq must have a capital of 50 million dollars, regardless of the number of branches, including the main branch."
    He added that "another condition for granting licenses is that the balance of any bank with another bank does not exceed 5% of its capital and in any case should not increase its assets with other banks of 20%, and if the increase of that percentage for more reasonable reasons, you need To the approval of the Director General of the Department of Banking Supervision. "
    He explained that "to establish an entity belonging to a foreign bank or to open a branch of a foreign bank in Iraq must obtain a license from the Central Bank and may only grant licenses to foreign banks that are subject to unified and comprehensive control of the supervisory authority in the country where the headquarters of the foreign bank."
    The central bank noted that "within six months of submitting an application for incorporation to the bank to meet the conditions, the bank is notified of the approval of the establishment or rejection of the bank and if approved, it is published in the official gazette."

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    • Post n°8

    Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars Empty Re: Central: Granting leave to foreign banks to those with a capital equivalent to 50 million dollars

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