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Anjouan banking licenses
Anonymous
Posted: Friday, August 12, 2011

Posted: 2/24/2004 3:17:31 PM

By: Ali

Green Lee ,
I was not solliciting for your newsletterservices!
what a cheap way to advertise.....
Ali


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/24/2004 3:13:55 PM

By: greenlee

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Anonymous
Posted: Friday, August 12, 2011

Posted: 2/24/2004 2:48:46 PM

By: Ali

to find out if they are for real and legit , and not a scam.
Thanks ,
Ali


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/24/2004 11:52:51 AM

By: cyrille emery esq.

Y


Internal Administrator
Posted: Friday, August 12, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 2/24/2004 11:32:38 AM

By: Ali Babba

Hi , is there any negative or positive news on the Anjouan offshore banking licenses? Are they still being issued and if so by who?
Thanks a lot for your information.

Ali Babba


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/25/2004 4:03:10 PM

By: jc - some info on Anjouan Banks

Some links to threads on Diligizer re: Anjouan Banks:

http://pub159.ezboard.com/fdiligizerfrm31.showMessage?topicID=271.topic

http://pub159.ezboard.com/fdiligizerfrm31.showMessage?topicID=350.topic

http://pub159.ezboard.com/fdiligizerfrm31.showMessage?topicID=350.topic&index=2

-jc



Anonymous
Posted: Friday, August 12, 2011

Posted: 2/25/2004 3:47:39 PM

By: renatus

well, ali: you got the answers you deserve

how can you compare things like infrastructure, credibility and professional behaving of the caymans with this self-proclaimed "jurisdiction" NOT OFFICIALLY RECOGNIZED by any other country

anjouan still is part of the comores - no further comments needed!

why on earth do you need an anjouan bank license... do you think you can get ONE correspondent bank (and you would need such institutions to "clear" usd and other currencies) based on any paper issued by an obscure officer there?

just wondering!

ffbkdavid


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/25/2004 2:40:42 PM

By: Ali

The size and population of Anjouan (240.000)is much bigger then for instance Cayman . It is also well known for its long history and excellent cuisine and natural beauty.
So from your criteria Anjouan is more credible then Cayman?

At least there has been no negative news or scandals involving Anjouan offshore banks (sofar)that I am aware off.

It is the bankers that control the bank what in the end really matters , not where the license comes from , don't you agree?

Ali


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/25/2004 1:27:31 PM

By: Ol' Hap

Oh come on, Ali Babba.
Do you really believe that a banking license from an eensy weensy teeny island known primarily for its large population of a certain fruit bat with a wing span of 2 meters is going to win you *any* credibility *anywhere*?
There are wiser paths to take, and *that* advice should be quite useful.
Good luck,
Hap


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/24/2004 6:25:56 PM

By: Ol' Hap

RE: "May I suggest a Quatloosian banking license instead? Our licenses are larger and prettier and on much better than any bank license you will get from Anjouan, and it's every bit as well respected around the world . . ."

Notarized and sealed with the official cloven print of Tony the Wonder Llama?
I'll take a pair.
Anjouan?...Anjou...don't they grow pears there or some other type of fruit that rots??...
-Hap


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/24/2004 5:25:30 PM

By: Soolauq

May I suggest a Quatloosian banking license instead? Our licenses are larger and prettier and on much better than any bank license you will get from Anjouan, and it's every bit as well respected around the world . . .


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/28/2004 11:05:38 AM

By: Sooltauq

The assumption is that a bank formed in a microjurisdiction will be able to obtain a correspondent account with another bank; that is where we are skeptical.

Maybe you can prove us wrong -- let us know how it goes.


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/27/2004 10:59:47 AM

By: Ali

Cyrille,Soolauq
I appreciate your comments but I do not agree in this specific case. You are talking about regular bankoperations that market their services publicy . What if a bank only deals with accredited clients already well known to the bankers and only by referall new clients will come in. The internet is only used for online banking not for marketing. In such a case you could compare to a private fund where regulators are not necessary . There will be a niche in the future for such small private banks that can offer very personal service.
Futher the correspondence bank does not neccessarely have to be the biggest or most established bank in the world. Sometimes small upcoming banks offer better service . Ali


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/26/2004 6:38:43 AM

By: Steven Capstan

Cyrille,

That was a pretty good response. I've read with interest this whole thread. Could you please give me a brief explanation fo what passporting or grandfathering is?. I've just never come accross the terms before (obviosuly because im not a banker).

Anyway Cheers from Australia Guys.
Steven Capstan


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/26/2004 4:33:16 AM

By: Cyrille Emery Esq.

I am amazed by the fact that would be offshore bankers dont do the basic...meaning checking banking regulations in their intended markets....
Assuming that you get one of this worthless offshore banking licence from Anjouan you wont be able, internet or brick and mortars bank, to perform such activities in any other country (UK, EUROPE, USA) because of the lack of supervision.
There are rules known as passporting and grandfathering provisions in the banking industry. Your absence of knowledge of these rules makes me wonder about your credibility..
If you can by-pass (most certainly because it is not possible to police internet) the scrutiny, your bank will not be recognised because of supervision problem. Either it will not be supervised by Comores or the supervision will be deemed of a quality inferior of that performed by say the FSA...

Banks have a duty to clients to chose with whom they deal and this apply with the bank with which they open correspondent bank accounts. I cannot see in the current climate any serious banks taking on such a reputational risk plus liability.


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/25/2004 10:10:35 PM

By: Sooltauq

Sorry, but with anti-terrorism and anti-money laundering concerns, the days of the obscure microbanks in the obscure micronations is rapidly drawing to a close. Basically, no respectable bank that I am aware of will allow correspondent relationships with such a bank these days -- and those that have allowed them in the past are rapidly weeding them out now -- meaning the banking license will be worth yesterday's newspaper. Simply getting a SWIFT code won't bring banking respectability.


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/25/2004 4:43:57 PM

By: Ali

I was told Anjouan banks can succesfully apply for having its own swift code which would make the bank credible and a corresponding bank possible to find. Or the Anjouan bank can open an account with another bank . For example the national bank of Anjouan. Anjouan is still part of the Comores but with its own new constitution and president. The offshore bank will operate solely online and does not need brick and mortar infrastructure. The payment processing and banks website can legally be operated from anywhere. Experienced people in finance with a very conservative management should be able to succesfully operate such a bank serving a small niche of private clientele. Ali


Anonymous
Posted: Friday, August 12, 2011

Posted: 3/1/2004 4:45:46 AM

By: Steven Capstan

Thanks Cyrillem,

That was a really good explanation and response. I'm learning something new every day here .

cheers from Australia
Regards
Steven Capstan


Anonymous
Posted: Friday, August 12, 2011

Posted: 3/1/2004 3:58:01 AM

By: Cyrille Emery Esq.

"Passporting" means that you will be able to offer financial services like banking services/invesment in a country where your company does not have a physical presence nor is registered to any supervisory body.
The passporting rule suppose that the foreign country recognises the soundness of your company and more importantly the supervisory body of the country of origin. This last bit is a bit tricky as the law is generally written in general terms such as "a supervision of equivalent nature"...Meaning may differ from one country to another and is sometime "politically used"...
Granfathering means that you are authorised to deliver financial services in another country under the control and supervision of a regulated company in this country. In case something turns wrong the regulated company will take the blame...
As an exemple a Swiss investment banker, not regulated in the UK visit a client in London under the protection of the licence of the UK subsidiary/branch of his firm...

As for correspondent bank account, there are many ways to shift the laws :
a) A trust company opens account in a bank wherein it segregate sub accounts under clients' names. The whole account's balance is then transfered into the offshore licensed bank account... The offshore license bank claims falsely that the trust account is a "correspondent" bank account. Generally the transfer from "trust bank account" to offshore bank account requires the use of intermediate accounts...
There are some variations of the above theme. They are all very dangerous for depositors (complete loss of control over money)
b) The offshore licensed bank opens an account in a reputable bank, using a name close to hers but without "bank" within. The signatories on the account are officers of the offshore licensed bank and clients are asked to wire money into this account using the reputable bank correspondent accounts. Once the money is arrived in the final account, clients have the option of :
1) Trusting the integrity of the offshore bank officers (!!!!) not to disappear with their money,
2) Cry for the loss of their money
If the money is not segregated into the account you can easily imagine the legal hurddles to solve. Plus which jurisdiction should bear the supervision responsibility...

This is all a question of pretence and deception... I would advise any client to check carefully the relation of correspondent bank account claimed by the offshore licensed banks... In doubt never transfer money!!!


Anonymous
Posted: Friday, August 12, 2011

Posted: 2/29/2004 8:21:35 PM

By: Steven Capstan

Couldnt one use a licensed financial services company such as a FSA in sweden or a financial corporation in Panama to act as a clearing house and psuedo correspondent account for the bank?.

The company could open accounts with different currencys in say HSBC Offshore and use those to clear funds through different countries.

Just a thought anyway.

cheers from australia
steven Capstan


 

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