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Thread: CBI Money Laundering with 29 of 33 Iraq Banks

  1. #1
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    CBI Money Laundering with 29 of 33 Iraq Banks

    They're all in on it together folks - wait for it ..... (SE quote to follow)............."But that would be Illegal" ... BWHAHAHAHAHAHAHAHA - Doesn't matter who we hire to investigate Warka and our missing funds / shares - it's a tail chase when even the gatekeeper is in on it. The camels back just broke.





    Iraq investigates private banks for money laundering

    Author: Amina al-DahabiPosted December 4, 2014
    A prominent economic official in the Iraqi government, who preferred to remain anonymous, said in an interview with Al-Monitor that out of the 33 private Iraqi banks operating in the country, 29 were under investigation on charges of corruption and money laundering.


    Read more: http://www.al-monitor.com/pulse/orig...#ixzz3LDZ92MZ4


    According to an article published Oct. 16 and based on the report issued by Special Inspector General for Iraq Reconstruction Stuart Bowen, money laundering through the Central Bank of Iraq has resulted in the loss of over $100 billion in the past 10 years, most of which was transferred into banks in Dubai and Beirut.
    The economic adviser to the prime minister, Mazhar Mohammad Saleh, told Al-Monitor that he considered this phenomenon to be a major loss in the private financial sector, on which the recovery of Iraq’s economy was based. Saleh said the high number of banks under investigation was due to the government’s absence in private financial administration, and to the weakness of cash credit, pushing banks to look for profit-making operations that are often nonfinancial. He said the audit policy of the Central Bank changed after 2003 from compliance auditing to preventive auditing. This new role is a supervisory task, not a controlling one, as the Central Bank monitors credit and liquidity to ensure their safety in accordance with financial ratios.


    Read more: http://www.al-monitor.com/pulse/orig...#ixzz3LDYFxgMa



    http://www.al-monitor.com/pulse/orig...aundering.html#
    Last edited by ChinaGirl; 12-07-2014 at 01:33 PM.

  2. #2
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    I hear the fat lady warming up

    My favorite part is:
    A prominent economic official in the Iraqi government, who preferred to remain anonymous, said in an interview with Al-Monitor that out of the 33 private Iraqi banks operating in the country, 29 were under investigation on charges of corruption and money laundering.

    Our only hope is the RV that will happen soon. LMAO.


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  3. #3
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    Welcome to the real world. However this is a 2012 report summited to congress in a July 9th, 2013 Subcommittee hearing by Stuart Bowen. and his staff. This was Special Inspector General for Iraq Stuart Bowen's final report as his service in Iraq ended in 2013. From page 41 of the report
    Mr. CICILLINE. Just a follow-up question. Your report reveals that—or references an audit that was done in 2012 that concluded that roughly $1 billion was transferred out of Iraq each week via currency auctions conducted by the Central Bank and up to $800 million was laundered money transferred illegally under false pretenses. And that cumulatively over the course of a year, this presents the possibility that up to $40 billion was leaving the country annually because of corruption. Do you have a sense of what percentage of that is American taxpayer money? Mr. BOWEN. That is all Iraq money. That is oil and gas money flowing from the development fund for Iraq, not U.S. money, and that comes from an audit from the Board of Supreme Audit, Iraq’s oversight entity, that was related to me by Dr. Basit. Mr. CICILLINE. Thank you. I yield back, Madam Chair. Ms. ROS-LEHTINEN. Thank you, Mr. Cicilline. Another wonderful Iraq vet, Mr. Collins, is recognized. Mr. COLLINS. Thank you, Madam Chair.
    Read the full transcript here. http://foreignaffairs.house.gov/hear...r-general-iraq click on Hearing transcript (PDF) at the bottom of the transcript to read Stuart Bowens entire final report and testimony to congress

    This concerns the lack of CBI and foreign audits. I guess you think this somehow reflects on Warka or myself. However, Warka received a full audit from the CBI and a additional foreign audit and a favorable court ruling that you seem to have missed. As for myself I don't care as I have long written off and recouped any lost Warka CD investment. Anything that would happen now would be a windfall but I certainly do not expect it. In the future try to keep up as money being transferred out of Iraq has been discussed many times on this forum and its monotonous to hear from the uninformed who think they have discovered something unknown.
    Get a free first class world education here. http://www.khanacademy.org/

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    Quote Originally Posted by Screaming Eagle View Post
    Welcome to the real world. However this is a 2012 report summited to congress in a July 9th, 2013 Subcommittee hearing by Stuart Bowen. and his staff. This was Special Inspector General for Iraq Stuart Bowen's final report as his service in Iraq ended in 2013. From page 41 of the report
    Mr. CICILLINE. Just a follow-up question. Your report reveals that—or references an audit that was done in 2012 that concluded that roughly $1 billion was transferred out of Iraq each week via currency auctions conducted by the Central Bank and up to $800 million was laundered money transferred illegally under false pretenses. And that cumulatively over the course of a year, this presents the possibility that up to $40 billion was leaving the country annually because of corruption. Do you have a sense of what percentage of that is American taxpayer money? Mr. BOWEN. That is all Iraq money. That is oil and gas money flowing from the development fund for Iraq, not U.S. money, and that comes from an audit from the Board of Supreme Audit, Iraq’s oversight entity, that was related to me by Dr. Basit. Mr. CICILLINE. Thank you. I yield back, Madam Chair. Ms. ROS-LEHTINEN. Thank you, Mr. Cicilline. Another wonderful Iraq vet, Mr. Collins, is recognized. Mr. COLLINS. Thank you, Madam Chair.
    Read the full transcript here. http://foreignaffairs.house.gov/hear...r-general-iraq click on Hearing transcript (PDF) at the bottom of the transcript to read Stuart Bowens entire final report and testimony to congress

    This concerns the lack of CBI and foreign audits. I guess you think this somehow reflects on Warka or myself. However, Warka received a full audit from the CBI and a additional foreign audit and a favorable court ruling that you seem to have missed. As for myself I don't care as I have long written off and recouped any lost Warka CD investment. Anything that would happen now would be a windfall but I certainly do not expect it. In the future try to keep up as money being transferred out of Iraq has been discussed many times on this forum and its monotonous to hear from the uninformed who think they have discovered something unknown.
    Brilliant as always! Nail on the head etc. Thanks S.E.

    Ohhhh CG you are always up to the mark with the dramatic twist on the header -
    CBI Money Laundering with 29 of 33 Iraq Banks

    I think people might infer incorrectly from your heading title that the CBI was in cahoots with the money laundering activities. Whereas the reality is, the CBI provides a legitimate and required service to the country and to the dinar by providing currency auctions which in turn allows the CBI to control the stability of the dinar pursuant to its monetary goals. The unscrupulous individuals and banks who used the system to sell their dinar and buy USD and transfer the USD out of the country are the culprits here not the CBI. Needless to say (but I fear it is) the CBI isn't guilty by association here; alas you ill written heading would seems to allude to something untoward was in the mix. Sadly your editorial is unfounded and poorly presented (ie no concrete facts). You'll understand why some forum members find your comments irritating and lacking credibility. Their statements may seem defensive, if not aggressive, to you, but please keep in mind, the uninformed reader of the forum. To such individuals, posters have a responsibility to provide accurate, informed, logical, and well balanced arguments, not innuendos, loose logic, fallacies of composition/division/cause and effect which would mislead readers to an illogical conclusion. Emotional reasoning is a dangerous thing.

    May I suggest a more accurate and reflective heading for your thread -

    29 out of 33 Private Iraqi Banks money laundered via CBI currency auctions.
    Last edited by eosirl2; 12-07-2014 at 05:11 PM.
    "Neither give cherries to a pig nor advice to a fool"

  5. #5
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    Thats true. Not sure what I was thinking. It has gotten so much better now since 2012.
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    It seems that all were intent in ruining Iraq and all in it !!!

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    Quote Originally Posted by eosirl2 View Post
    Brilliant as always! Nail on the head etc. Thanks S.E.

    Ohhhh CG you are always up to the mark with the dramatic twist on the header -
    CBI Money Laundering with 29 of 33 Iraq Banks

    I think people might infer incorrectly from your heading title that the CBI was in cahoots with the money laundering activities. Whereas the reality is, the CBI provides a legitimate and required service to the country and to the dinar by providing currency auctions which in turn allows the CBI to control the stability of the dinar pursuant to its monetary goals. The unscrupulous individuals and banks who used the system to sell their dinar and buy USD and transfer the USD out of the country are the culprits here not the CBI. Needless to say (but I fear it is) the CBI isn't guilty by association here; alas you ill written heading would seems to allude to something untoward was in the mix. Sadly your editorial is unfounded and poorly presented (ie no concrete facts). You'll understand why some forum members find your comments irritating and lacking credibility. Their statements may seem defensive, if not aggressive, to you, but please keep in mind, the uninformed reader of the forum. To such individuals, posters have a responsibility to provide accurate, informed, logical, and well balanced arguments, not innuendos, loose logic, fallacies of composition/division/cause and effect which would mislead readers to an illogical conclusion. Emotional reasoning is a dangerous thing.

    May I suggest a more accurate and reflective heading for your thread -

    29 out of 33 Private Iraqi Banks money laundered via CBI currency auctions.
    BS .. you're just another sucker reeled in under the guise of the CBI running a legitimate game. Nothing "on the up" with the CBI - they're "on the take" more like it - just another thief in the desert. In the end you will see that this whole charade had an end game - most likely to stop the private banks from competing with the state banks.

    Anyway, go on believing what you wish - all the best.

  8. #8
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    Quote Originally Posted by ChinaGirl View Post
    BS .. you're just another sucker reeled in under the guise of the CBI running a legitimate game. Nothing "on the up" with the CBI - they're "on the take" more like it - just another thief in the desert. In the end you will see that this whole charade had an end game - most likely to stop the private banks from competing with the state banks.

    Anyway, go on believing what you wish - all the best.
    LOL

    My comments were only made in context of the article and your thread heading only. I didn't voice any opinions or assertions on the veracity of the CBI per se. Alas, you've incorrectly inferred from my comments that I voiced some credibility on the CBI's part which I did not. You clearly have an issue with comprehension; you may well take note of this, may be to your benefit in the future.

    As for calling me a 'sucker' I think any reader would vouch that your self-opinionated, fact-less, and unsupported comments are nothing more than hot air. <yawn>
    "Neither give cherries to a pig nor advice to a fool"

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