How to Start an Account in Dinar @ NBK

[highrollr19]

:confused:

I have heard all about the ideas of starting an account at NBK, or one in Iraq, but has anyone done it yet? Does anyone know detalis on how I could do it? THis would allow us to avoid Article 36, and would allow us to gain interest in the time we are waiting for the dinar to appreciate.

Also, how confident are you in starting an account in Iraq? Kuwait?
Reason I ask is that under martial law (current state) the government can go into any bank and declare foreign investments null.

Any advice would be appreciated

[Henry]

Also, if we are here in the US, how do we get the paper money in large quanties to NBK?

[heather]

Imagine turning your money over to an Iraq bank and then they say all foregin investment is null, especially with all the problems with insergents...

[danpeg]

Also, if we are here in the US, how do we get the paper money in large quanties to NBK? How about here:

National Bank of Kuwait SAK
New York Branch
299 Park Avenue New York, NY 10171 USA
Tel : (+1212) 3039800
Fax : (+1212) 3198269
Tlx : 421486 NBK NY
Email: info@nbkny.com

http://www.nbk.com/NBK/TopBar/Branch+Locator/International+Network/default.htm#ny

[heather]

Has anyone tried talking to them? I just e-mailed them( National Bank of Kuwait SAK New York Branch )
about possibly them handeling my money ? I will let you know when I hear back from them what they say

[fsm75]

Someone already contact NBK, NY and was told that the branch only handles commerical accounts.

[Henry]

Many posts before have said NBK in New York only handles commercial accounts.

[heather]

oh well.. no harm no foul

[Psycho for Dinar]

Yes, I called NBK in New York and that is true. They do only handle commercial accounts. Likewise another foriegn bank I talked to that was Approved by CBI, I believe it was HSBC, also dealt only in commercial accounts.

I accidently started a new thread called Warko Bank in which I recieved a response regarding setting up an account for Dinar. How I managed that one, I don't know. :confused:

[highrollr19]

Any loop holes around how we could start a commercial account? I am not that familiar with banking procedures. Anybody know?

[DogBone]

Good Morning all. I am in Kuwait now and have a Kuwaiti Dinar account as well as a U.S dollar account with NBK..


1. I have some bad news NBK at this time will not open accounts in IQD the only foreign currency accounts they have are in Japanese Yen, British Pound, U.S Dollar, and the Euro. If this changes I will post the detail.

2. Those of you that are in the U.S. It is my understanding that NBK New York only handles commercial accounts in foreign currencies listed above only.

3.I have been told the NBK will start opening accounts in IQD only after it opens on the International Market…

4. To open an account with NBK in Kuwait you need to have a residence card or visa in country only.

5. If you have an account with NBK they can wire transfer directly to banks in Iraq with no problem

I am still looking into if NBK can deal directly with the ISX because they are one of the banks authorized to conduct business in Iraq. And I believe own controlling interest in Warko Bank. I have no information on opening a commercial account with NBK in New York but will try and find out.

[Marilyn]

I called NBK a few weeks ago and was told the same thing. They do not offer any retail services, they are strictly corporate banking in NY.

[highrollr19]

Marylin-
I just wanted to say thanks for all the research you have been helping with on these forums. It is great people like that who will help us all to start our own Iraqi Dinar Yacht Club in a few years. Thanks also to all the ones from Truck and Barter. Jared and M&M especially

[jules]

standard chartered has been helpful also, if you haven't tried contacting them
Stuart.Horsewood@ae.standardchartered.com
if you contact him, he will put you on a list to recieve notice as soon as they are inside iraq and their other branches can begin to open dinar accounts

[Marilyn]

:o

Thanks, highrollr19 !

It's truly been a blessing. I find it a miracle that all these wonderful people came together spontaneously and formed this amazing team of professionals.
We have a Doctor, a Lawyer, an Accountant, a businessman, KBR workers, Military folks, and working Joe's all working towards a common goal. Each one brings something special to the table. We've had a few growing pains but always worked through it. I love having this forum and can't thank Dan enough for providing it. It looks like a huge success for him.
Remember the key to marketing success is; "Find a Need and Fill it".

Power in Numbers ! :D

[BRYAN]

standard chartered has been helpful also, if you haven't tried contacting them
Stuart.Horsewood@ae.standardchartered.com
if you contact him, he will put you on a list to recieve notice as soon as they are inside iraq and their other branches can begin to open dinar accounts
THANKS JULES ARE YOU ON HIS LIST ? ARE THEY BASED IN US ?

[jules]

hey bryan,

yes he does have me on his list. there are US branches but i'm waiting to here back on personal accounts vs. commercial only as is the issue with nbk US branches.
he has been very helpful and patient. he sent an auto responder email letting me know he'll be out of the office and unable to access his email until early next week. i'll keep you posted.
did you find the email marilyn gave to contact warka? its in one of these threads. i'm going to contact them and see about setting up an account. marilyn is sending paper work by email which sounds straight forward enough.
i want to have the account set in place before foriegn traders are allowed in, don't want to waste any time with this scenario.
even if i have US dollars changed to iqd and left in the account until the value increases it would be worth having set up the account, even if i wasn't able to buy stock

[grim_0d]

Is there any more news on NBK doing an iraq dinar account? im in Kuwait with a room full of cash. :no: Would feel better if it was just numbers and not notes lying about.