KTFA

Samson: International Monetary Fund: Continue to cooperate with the Central Bank of Iraq

25th May, 2018

The International Monetary Fund (IMF) said Friday it was continuing to cooperate with Iran’s central bank and its governor, Aliullah Saif, despite the US embargo.

The International Monetary Fund (IMF) said Iran was a member of the fund, which would continue to cooperate with it and the governor of Iran’s central bank, Aliullah Saif.

The US Treasury Department announced a ban on Iran’s central bank governor and Crown Prince Aliullah Seif on May 15 after US President Donald Trump decided to withdraw from the nuclear deal and impose a US embargo on Iran within 90 to 180 days.  LINK

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Samson:  Swiss companies are preparing to leave Iran

24th May, 2018

Swiss companies are preparing to withdraw from  Iran , according to Swiss reports  , in response to US decisions to impose economic sanctions on Tehran, especially after Washington threatened to punish companies that ignore these decisions.

According to Swiss media, Swiss companies in Iran stopped two weeks ago from signing any new commercial contracts, and those companies that expose the banking sector to harsh US sanctions and prosecutions over the past years fear secondary sanctions and the denial of trading in US money instruments.

Although trade between Switzerland and Iran is not large, and not much more than half a billion dollars in 2016, Swiss companies were hoping for extensive trade relations and deals with Iranian companies, but this broke down following the withdrawal of President Donald Trump from the agreement Nuclear weapons.

“The Swiss companies are in the process of closing their branches in Iran,” said Sherif Nadhim Mavi, chairman of the Swiss-Iranian Chamber of Commerce, who recently met with representatives of the largest Swiss companies in Tehran.

But it is not clear how Swiss companies, including engineering and pharmaceutical companies, as well as companies in the goods and services sector, will be affected by US policy, according to Swiss reports.

At the same time, observers say that Swiss businessmen are hoping for some protection through the EU’s efforts to mitigate and counteract the impact of these US measures, following Trump’s decision in early May to withdraw from the nuclear deal reached in 2015 with Tehran .

BRUSSELS – Brussels is seeking to stimulate a “disablement law” before August, when the first US sanctions come into force.

In a related context, a Swiss mission is expected to visit Tehran next month to discuss steps to advance bilateral relations as agreed in 2016. A spokesman for the Foreign Ministry said in remarks published last week by the newspaper Handels Zeitung.

Switzerland has invited Iranian President Hassan Rowhani to pay a state visit to the country this year, but no date has been officially announced.

Switzerland’s exports to Iran amounted to 530 million francs, up 40 percent from the year 2015, which saw Iran sign a long-term treaty on its nuclear program with the United States, Britain, France, China, Russia and Germany, the Handels Zeitung newspaper reported.    LINK

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Samson:  Print the first paper currency in longitudinal design in Britain

2018/5/25 8:46

Is preparing the first Irish bank Ulster to put banknotes linear design, in the first time in Britain.

The bank began printing longitudinal notes of £ 5 and £ 10, which will begin trading in Northern Ireland next year.

The four Northern Irish banks have printed their notes according to a tradition that has been going on since the 19th century.

Ulster Bank, a subsidiary of the Royal Bank of Scotland, has offered long-term banknotes that will replace current notes.  The two critical papers show some aspects of nature from birds, flowers and butterflies.

The bank has announced that it will follow the Bank of England’s approach to printing banknotes, but has taken a step further.  One of the few countries that has printed long-term notes so far is Switzerland and Canada.   LINK