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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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    Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve

    Rocky
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    • Post n°1

    Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve Empty Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve

    Post by Rocky Sat 04 Aug 2018, 7:27 am

    [size=50]Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve
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    After the Lebanese General Directorate of Public Security and the Iraqi National Intelligence Service, the Association of Banks in Lebanon entered the line in the case of the alleged Iraqi deposits in some Lebanese banks, while the Iraqi Central Bank, Abroad and restored after the fall of the former regime in 2003, with reference to the emergence of a direct role for the «Federal Reserve Bank». 
    The president of the Association of Banks, Dr. Joseph Tarbey, stressed that the campaigns of some banks fall within the definition of "organized crime" after a criminal network exploited the fall of the former regime falsely by the presence of financial deposits without relying on any legal documents. "The goal of blackmail, which was accompanied by rumors on social networking sites, was to obtain financial satisfaction rather than alleged rights."
    According to informed banking sources and follow-up that the Iraqi authorities, especially the Ministry of Finance and the Central Bank, after the regime of Saddam Hussein, holds all the financial files among the files handled by the beginning of the US military governor Paul Bremer. These files include the external financial deposits of the former regime, which were official in nature, mainly to the central bank, as well as to the Rafidain and al-Rashid governments.
    In fact, some Lebanese banks, between 5 and 7 (large and medium), have already received some Iraqi foreign deposits with the knowledge and supervision of the Lebanese Central Bank, especially in terms of determining the right holder and restricting it to official bodies to ensure strict compliance with laws and regulations that protect against any suspicion or Doubts about money laundering. The banks, with the knowledge and guidance of the Central Bank, also responded to the US-Iraqi joint request to disclose these deposits and return them to the Iraqi state institutions by transferring them to the Federal Reserve Bank, on behalf of the moral right holder, the Central Bank of Iraq. "The operations were carried out without hesitation and transparency."
    He pointed to the fact that the full refund of money to the Central Bank of Iraq via the channel «US Federal Reserve», as the right holder, saying that «if the Authority and deposits of students, is transferred immediately, because the right holder alone has the right to claim». He praised the "efforts of the Director General of the Lebanese General Security Abbas Ibrahim and the Iraqi intelligence service to end the blackmail and defamation of Lebanese banks," and noted "the importance of continuing investigations and prosecutions to reveal the planners and drivers of this criminal network, after the arrest of some of its members.
    "Although the campaign was not based on facts or facts, the spread of rumors in the world of rapid communication and virtual space has its deceptive effects," he said, referring to the "serious targeting" of the Lebanese banking sector in recent years in order to harm its reputation. On large segments of customers of our banks; residents and non-residents, and creates an atmosphere of confusion and confusion reflected negatively on the movements of savings and investment in the country ». 
    However, the joint efforts of the competent security services in Lebanon and Iraq "led to the detection of a network of fraudsters and false and fabricated newsmakers to extort and undermine the reputation of our banking sector, which has proven and continues to demonstrate full compliance with the fundamentals and requirements of sound banking and its full commitment And the absolute rules and standards of transparency and good governance and combating money laundering and acts of terrorism and various types of financial crimes ».


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    Rocky
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    • Post n°2

    Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve Empty Saddam-era Iraq deposits were repatriated: Torbey (U.S. Federal Reserve.)

    Post by Rocky Sat 04 Aug 2018, 7:30 am

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    [You must be registered and logged in to see this link.]| The Daily Star[/size]
     
     
     
    BEIRUT: The President of the Association of Banks in Lebanon Joseph Torbey said Thursday that the money deposited in Lebanese banks during the era of former President Saddam Hussein had been repatriated. “Naturally there are financial ties between Lebanon and Iraq [from a] long time ago. There was money deposited in Lebanese banks by the Iraqi central bank before the fall of Saddam Hussein.
    “After the fall of the old regime and the emergence of a new government, these deposits were transferred to the account of the Iraqi central bank at the U.S. Federal Reserve.
    “Banking secrecy does not apply on these deposits and hence this money eventually went to the Iraqi authorities,” Torbey told reporters during a news conference at the headquarters of ABL in Beirut.
    The banker was responding to media reports on the foiled attempts to extort money by some Iraqi and Lebanese nationals, who claimed that Iraqi money deposited in Lebanese banks belonged to them.
    Lebanon’s General Security, headed by Maj. Gen. Abbas Ibrahim, and Iraqi intelligence jointly uncovered a network that tried to extort several Lebanese banks, including Bank Audi.
    The suspects presented fake documents and accounts to the banks and tried to persuade the lenders that the deposits belonged to them.
    But the banks rejected the claims and called on the Lebanese and Iraqi authorities to investigate and apprehend those behind the scam.
    Abbas earlier estimated that the would-be extortionists tried to claim over $1 billion.
    The Lebanese and Iraqi authorities managed to apprehend some of the suspects and are investigating who is behind the criminal network.
    Torbey emphasized that the main goal of those claiming money in Lebanese banks was extortion.
    “These people were willing to settle for money from the banks in return for their silence. But we did not fall for this scam and went straight to the Lebanese and Iraqi authorities,” he added.
    Torbey also stated that the Lebanese banks did not lose any money as a result of the scam.
    “After the banks confronted these individuals legally, no one will try from now on to extort the Lebanese banks,” he added.
    “We would like to extend our sincere thanks and appreciation to the competent security services in Iraq and Lebanon, especially to [Maj.] Gen. Abbas Ibrahim.
    Our banks have demonstrated over the past decades a strong immunity in the face of all local, regional and international challenges,” Torbey said.
    He added that the Lebanese banking sector would not be shaken by rumors.
    Torbey also touched on the subsidized housing loan crisis in Lebanon and the efforts to find a solution for it.
    He added that the new government would find a mechanism to activate housing lending.
    “The governor of Banque du Liban recently confirmed that the coming days will carry more financial packages to [You must be registered and logged in to see this link.]loans, especially residential ones, but the size of this [You must be registered and logged in to see this link.] and allocated funds remain under the ceiling set by the monetary authority,” Torbey said.
    The ABL president also gave details about the loans provided by the Lebanese banks for the productive sectors and real estate.
    “Bank lending is not limited to housing loans and social loans. Banks play an important role in financing the economy, including the real estate sector, where prosperity in Lebanon has often been associated with the boom in real estate and construction projects of all sizes and types.
    “About 131,000 citizens benefited from these housing loans,” Torbey said.
    He added that despite weak economic growth, the banking sector recorded 5.7 percent in total asset growth during the first five months of the current year, while deposits grew by 2 percent or close to 2.4 percent in the same period of 2017.
    “This means that the volume of deposits will increase by about $3.4 billion in the first five months of the current year, which is sufficient to cover the financing needs of the national economy in the public and private sectors,” Torbey said.


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    Rocky
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    • Post n°3

    Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve Empty Lebanon: Saddam's money was handed over to Washington. The dictator fled the money through camoufl

    Post by Rocky Sat 04 Aug 2018, 7:33 am

    [size=28]Lebanon: Saddam's money was handed over to Washington. The dictator fled the money through camouflage

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    [/size]
    A senior financial official in Lebanon revealed on Friday, August 3, 2018, that the authorities transferred to the United States after the US invasion of Iraq in 2003 all the funds that were deposited in Beirut banks in the name of Saddam Hussein and his regime.
    [size]
    "The financial relations between Lebanon and Iraq are old, there were deposits in the Lebanese banking system, especially from the Central Bank of Iraq. After the fall of Saddam Hussein's regime, these deposits were transferred to the Federal Reserve Bank," said Joseph Tarbi, president of the Association of Banks in Lebanon. In the account of the Central Bank of Iraq, under the supervision of the military and legal authorities and the Central Bank of Lebanon.
    The Lebanese lawyer Mohammed Qubaisi, who commissioned his office to follow the fate of Saddam Hussein's money and his regime: the latest episode of the review of Lebanese banks to demand balances of hundreds of millions of dollars, which were said to be Iraqi names since the days of Saddam Hussein, ended earlier this week.
    He added: Iraqi people, some of whom have been in the banks for several months, have this week commissioned law firms to claim Bank Audi and other banks for up to $ 800 million, allegedly deposited in their names since 1999, to disguise Saddam Hussein's wealth.
    Some of these written documents appear to be very serious for law firms, even if they are not fully documented, but constitute a presumption or semi-written evidence.
    While linking some of the Iraqi deposits that existed in the Lebanese banks before the overthrow of the Saddam Hussein regime with the blackmail of the Lebanese banks operating in Iraq now, Tarbih said: These campaigns "have caused some confusion in the hearts of citizens, but the joint efforts by the security services The competent authorities in Lebanon and Iraq, led to the detection of a network of perpetrators of fraud and promoters of false news and fabricated in order to extortion and undermine the reputation of our banking sector.
    International pursuit of Saddam Hussein's wealth has led to the discovery of hundreds of millions of dollars in Iraqi funds in European and Middle Eastern banks, none of which bears his personal name.
    "It is not reasonable for Saddam Hussein to open a bank account in his own name," says James Nason of the Swiss Bankers Association, whose members are asked to report any suspicious accounts to the Swiss government.
    In Lebanon, Britain and Switzerland, the authorities have found about half a billion dollars in Iraqi assets, but it is not clear who the money goes from outside Iraqi government accounts.
    The United States, which began searching for Saddam's wealth the day after the invasion in March 2003, admits that finding hidden assets and funds is extremely difficult and complicated, because Saddam Hussein and his regime had hidden arms, camouflage, and crazy ideas.
    The biggest challenge is to identify and track the flow of money that Saddam Hussein has appropriated for himself and his entourage and introduced into the international financial system.
    Estimates of Saddam's wealth range from $ 2 billion to $ 40 billion. The US-funded International Campaign to Prosecute Iraqi War Criminals says much of the money has been brought out of Iraq through a network of people who have been given the money to invest or keep until needed.
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    Rocky
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    • Post n°4

    Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve Empty Officially ... Lebanon After the 2003 invasion of Iraq, the United States handed over all the money

    Post by Rocky Sat 04 Aug 2018, 7:35 am

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    04-08-2018 03:15 PM
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    Baghdad News -
     
     
    A senior finance official in Lebanon said Saturday that the authorities transferred to the United States after the US invasion of Iraq in 2003 all the funds that were deposited in Beirut banks in the name of Saddam Hussein and his regime.
     
    "The financial relations between Lebanon and Iraq are old, there were deposits in the Lebanese banking system, especially from the Central Bank of Iraq. After the fall of Saddam Hussein's regime, these deposits were transferred to the Federal Reserve Bank," said Joseph Tarbi, president of the Association of Banks in Lebanon. In the account of the Central Bank of Iraq, under the supervision of the military and legal authorities and the Central Bank of Lebanon.
     
    While linking some of the Iraqi deposits that existed in the Lebanese banks before the overthrow of the Saddam Hussein regime with the blackmail of the Lebanese banks operating in Iraq now, Tarbih said: These campaigns "have caused some confusion in the hearts of citizens, but the joint efforts by the security services The competent authorities in Lebanon and Iraq, led to the detection of a network of perpetrators of fraud and promoters of false news and fabricated in order to extortion and undermine the reputation of our banking sector.
     
    The international prosecution of Saddam Hussein's wealth has exposed hundreds of millions of dollars in Iraqi funds in European and Middle Eastern banks, but none of them bears his personal name.
     
    "It is not reasonable for Saddam Hussein to open a bank account in his own name," says James Nason of the Swiss Bankers Association, whose members are asked to report any suspicious accounts to the Swiss government. In Lebanon, Britain and Switzerland, the authorities have found about half a billion dollars in Iraqi assets, but it is not clear who the money goes from outside Iraqi government accounts.

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    ron-man
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    • Post n°5

    Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve Empty Re: Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve

    Post by ron-man Sat 04 Aug 2018, 12:32 pm

    Thanks Rocky, very good read.
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    Lobo
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    • Post n°6

    Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve Empty Re: Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve

    Post by Lobo Sat 04 Aug 2018, 2:31 pm

    Thanks Rocky, this is good news - the CBI getting money back - hope we don't have to wait too long to see the blessing.  BUT, you Rocky are also a blessing to us for all you do.

    flower flower flower bighug bighug bighug yes yes yes
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    w8tin
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    • Post n°7

    Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve Empty Re: Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve

    Post by w8tin Sat 04 Aug 2018, 4:52 pm

    Ditto on Lobo's post!
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    ahill
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    • Post n°8

    Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve Empty Re: Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve

    Post by ahill Sat 04 Aug 2018, 6:06 pm

    Yes - what she said. bighug
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    Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve Empty Re: Middle East: Iraq's deposits returned to its central bank via the US Federal Reserve

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