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Thursday, February 9, 2017

KTFA UPDATE, 9 FEB

KTFA:

BACKDOC:  NOW THAT THE SWIFT IS DIGITAL WE HAVE TRANSFERS IN SECONDS WITH BETTER SECURITY, EFFICIENCY, AS WELL AS SPEED!

THOSE ARE THE THREE ADVANTAGES OF BLOCKCHAIN!  DOC   IMO

What's the difference between an IBAN and a swift code?

Investopedia.com | October 2, 2014 — 5:33 PM EDT

A:The main difference between an International Bank Account Number (IBAN) and a Society for Worldwide Interbank Financial Telecommunication (SWIFT) code lies in what they identify. A SWIFT code is used to identify a specific bank during international transaction, whereas IBAN is used to identify an individual account involved in the international transaction. Both play an essential role in ensuring the smooth running of the international financial market.
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Prior to the introduction of these identification methods, there were no internationally-recognized, standardized methods of identifying bank accounts. The information that one country used to identify the bank and individual account was not necessarily recognized by the receiving country. Lack of standard practice meant there was no way to ensure that the information entered was correct.

As a result, payments could theoretically be made to the wrong people or organizations. Similarly, payments could be delayed while the identifying details were confirmed. Missed, delayed and mistaken payments caused additional costs to both sending and receiving banks.

According to the European Payments Council, standardization was first introduced in 1997 with the publication of ISO 136:1997. However, concerns were raised, mainly by the European Committee for Banking Standards, that there was too much flexibility within the proposed standards. The reworked version of the standard included a ruling that required the IBAN for each country to be a fixed length. It also stipulated that only upper case letters could be used within the IBAN.

An IBAN allows for easy identification of the country the bank is situated in and the account number that is the recipient of the money transfer. The IBAN also acts as a method of checking that the transaction details are correct. This method of checking and identification is used within all European Union countries and the majority of other European countries. Exceptions to this, as of 2014, are Russia, Belarus, Ukraine and Armenia. Canada and the United States of America are two major countries that do not use the IBAN system. However, they recognize the system and process payments according to the system.

The SWIFT system predates attempts to standardize international banking transactions through IBAN. It remains the method by which the majority of international fund transfers are made. One of the main reasons for this is because the SWIFT messaging system allows banks to share a significant amount of financial data. This data includes the status of the account, debit and credit amounts, and details related to the money transfer. Banks often use the Bank Identifier Code, more commonly recognized as BIC, instead of the SWIFT code. However, the two are easily interchangeable; both contain a mix of letters and numbers and are generally between eight and 11 characters in length.

Being able to access both of these identifiers is essential to ensuring a quick and successful international transfer. The identifier required by the bank depends on the bank being used, the recipient's bank and the countries in which the transfer is originated and received. However, without either, the chances of the transfer being completed successfully diminish considerably.

SOURCE: investopedia.com/

So in short ..........

• SWIFT code is for identification of a bank or business while IBAN is International Bank Account Number.

• IBAN is used by customers to send money abroad while SWIFT is used by banks to exchange financial and non financial transactions.

• IBAN allows for easier and faster money transfers worldwide.

Firefly:  BINGO my friend. Aside from the National Reconciliation Law, the IBAN is critical for our investment .... IMO of course. I believe the banks will let the private sector have access to it in parallel to the NRL

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Aggiedad77:  The new buzz words...."NATIONAL RECONCILIATION".....appears strong at work here between Hakim and Kubis (UNSC representative to Iraq)......so is this to be the new show in town....by that I mean Hakim.....is he looking like a favorite in future elections as a PM potential....is this where all his NRL posturing is leading to.....will Abadi get into this in a big way since what has been accomplished since 2014 has been done on his watch......me thinks he needs to kick things into high gear.....and what a good way to start that campaign than with a very positive outcome from his telephone conversation with President Trump.....

Ring-ring.....hello.....is this Abadi

Abadi....yes who is this

Trump.....this is President Trump....I want to congratulate you on what you've done with Mosul so far, and I know my guy Mattis is soon to visit....show him everything, in fact let him help you lead things to wrap up the western side  of Mosul....got that

Abadi....oh you want to let him lead our troops....well I'm not so sure about that Trump.....but if it means quicker victory for our people by all means...take your best shot

Trump.....and all that talk about National Reconciliation....it sounds good, but talk is cheap.....let me see you moving "certain things"......you don't need so many 000's in your currency it makes you look weak.....I know you are a businessman like me, we need to always look strong.....dump that program rate stuff.....that's kids play....like what my predecessor would do.....you are about to enter the big leagues with me....but you need to take action

Abadi.....oh well that would be a small step for me, you know I'm kind of short....but a huge leap for all Iraqis.....yes I know of your astronaut's trips to the moon, we watched .on black and white TV back then......remove the 000's you say....well we've been trying to clean out certain positions first

Trump.....yes we've been watching how well you've followed our suggestions.....you take direction very good Abadi, we are almost pleased with you.....but that was minor league stuff.....we, the US and others want you in the big league so take my queue and follow my example....you will be the fair-haired home boy if you do....I have to go for now....time to watch some Apprentice reruns....don't let me down Abadi, I want to do some things with our deficit and I either need your help or I will come do it myself....understand
Abadi.....yes sir I do understand.....the ball has bounced back across the pond it would seem....do you think you could connect me into one of those Frank26 Conference Calls.......I will do all I can........."click".....to make you most happy.....hello....hello....are you there President Trump

RECORDED VOICE:  Please insert your Qi card for another three minutes.....IMO.  LOL  Aloha  Randy
 

BACKDOC:   NOW THAT WAS FUNNY RANDY, GOOD JOB!  HEE HEE

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Walkingstick:  Trump spoken to al - Abadi and call him to visit America: We are working together to defeat terrorism in Iraq

Trump spoken to al-Abadi and call him to visit America: We are working together to defeat terrorism in Iraq

http://www.shafaaq.com/ar/Ar_N.....8%A7%D9%82

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MilitiaMan:  I don't know about you all but this is telling me that they are fully Sovereign State with Constitutional Institutions, i.e., banks, corporations, etc.. This is telling me they are Fully international.

Tomorrow is now in Iraq. They are closed for business now until our weekend in the States.
I have to say this is huge imo. I'll bet the solution to remove the travel ban could be hinged on raising the rate.

I don't think they are or were discussing the option of leaving Iraq at a program rate. It sure looks like the window from now until the 12th - 15th is wide open and weather is perfect for traveling!

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Walkingstick:  Post 427:  Abadi underlines the importance of Trump review of the decision on Iraqis travel to the United States

said Prime Minister Haider al - Abadi, Thursday, on the importance of a review of the United States of the decision , which was issued on the right of Iraqis to travel to, as US President Donald Trump hailed the victories achieved on "Daesh", reiterated his call for Ebadi to visit the United States.

Ebadi said in a statement received by the Office of the Sumerian News, a copy of the "Prime Minister Haider al - Abadi on Thursday received a phone call from US President Donald Trump , " noting that " the two sides addressed bilateral relations between the two countries and ways of developing them."

Abadi said through a statement that "Daesh terrorist gangs in the final stages, as we are now fighting them in Mosul and freed the bulk of them are determined to end this terrorist organization , " referring to " the importance of continued international support and the US in the war against terrorism."

He said al - Abadi to "Iraq 's desire to strengthen relations with the United States at various levels , " pointing out that "Iraq is a sovereign state with a national constitutional institutions are dealing with countries far away from interference in internal affairs."

Abadi stressed " the importance of a review of the decision that the right of Iraqis to travel to the United States and lift Iraq from the list of countries mentioned in the presidential thing."
For his part, US President Donald Trump said during the statement, " the importance of coordination to find a solution to this issue as soon as , " pointing out that "will direct the US State Department in this regard."

And Trump Park "achieved victories on Daesh gangs", praising the "courage of the Iraqi forces and the high Ebadi to lead the war on terror."

He continued , "We will work together to defeat terrorism because Iraq is an ally of ours," Ebadi reiterated his call for "to visit the United States."

And held Abadi, in ( the eighth of November 2016), a phone call to Trump congratulated him on the victory , headed by the United States and expressed Iraq 's desire to expand the prospects for the relationship between Baghdad and Washington, in the face of Trump then an invitation to Ebadi to visit the United States, and promised to provide a "strong and firm support" for Iraq .

http://www.alsumaria.tv/news/1.....-%D8%A7/ar

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FaithPrevails:  Iraq is a sovereign state with a national constitutional institutions

Is this indicating that Iraq IE: BANKS, CORPORATONS MEET THE CRITERIA ABOVE AT A PROGRAMMED RATE

PLS ANY INPUT IS WELCOME. I DON'T SEE THAT ANYTHING IN THESE ARTICLES THAT INDICATE OTHERWISE.

Aggiedad77:  First just so everyone is clear....what you have bolded here comes out of WalkingStick's post 427, and it is MHO that perhaps it is more about what they are choosing to not tell us yet.....what they want to keep hidden for whatever reason.....for whatever time....but they are in their own way....either intentionally, or unintentionally speaking VOLUMES here it would seem.....put your index finger to the temple....and utter that famous word.....hmmmmm.....

What is coming.....IMO the BEST is coming.....look more for what they aren't telling you.....it seems to me they have a timetable.....but what will trigger it....has it already been triggered and we are witnessing the outfall.....natural mistake....or a teaser of sorts.....who knows....maybe F26 can shed some light.  Aloha  Randy

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