Partnership enables BB&M International to offer interest-bearing offshore bank credit cards, issued from Warka Bank in Iraq.
Las Vegas, NV (PRWEB) October 13, 2010
BB&M International and its CEO, William Burbank, received the following endorsement from Mohammed Kamal Issa, Managing Director for Foreign Businesses at Warka Bank:
“Mr. William Burbank is a VVIP customer of our Bank and has been for the last three years. BB&M International Corporation has operated its AmIraq Fund LP through our bank and is in compliance with all regulations and licenses needed to operate in Iraq. Mr. Burbank holds a seat on the Iraqi stock exchange and is capable of CDS and stock trading as well as Forex trading through the AmIraq Fund LP. We hold Mr. Burbank and his company in the highest regard.”
Through the partnership, BB&M International is now able to offer offshore institution-branded Visa and MasterCard credit cards. Issued in Iraqi Dinar or USD, the offshore credit cards can be used to convert to most currencies at the exchange rate set by the CBI (Central Bank of Iraq) that day. Interest bearing Visa or MasterCard accounts are available ranging from 5%-9% APR.
“We are very excited to be able to offer our investors this option,” Burbank says. “When it comes to offshore banking, being able to access your funds whenever needed is priceless. BB&M International facilitates this need by now offering interest-bearing offshore bank credit cards. Your card will be issued from Warka Bank in Iraq. These institution-branded high interest offshore credit cards offer payment flexibility and convenience to today's offshore investor.”
These accounts earn up to 9% per annum on the 90-day Certificates of Deposit they offer for sale if you hold a current or savings account. The Central Bank of Iraq offers much more with 180-day Treasury Bills, which yield up to 14%. Why the high rate of return? “The Iraqis have made their currency of no value outside their own country, although the paper money does trade in Dubai,” Burbank says.
Burbank says now is the time to make investments in Iraq. “People don’t realize that despite the war, Iraq is actually a boomtown for interest rates. There is a very large return on investments in Iraqi Bonds and Treasury Bills.”
According to Al Jezerra newswire, there are approximately twelve private banks thriving amid the absence of a government at this time in Iraq. The top four have already sold up to 49% of their stock to western banks in return for modernization like Visa and MasterCard debit cards attached to dinar/dollar accounts. Bank of America owns Trade Bank along with Wells Fargo and four other banks from the U.S. HSBC owns half of Dar Es Sallam Bank. Many banks worldwide are making deals in Iraq. “The only people being left out are the average citizens,” Burbank says.
He explains, “The food and stuff needed to carry on an average day in Iraq must be paid for in dollars, which can be borrowed from Trade Bank of Iraq, a U.S.-owned bank that sells letters of credit in dollars for oil futures. The rest must be borrowed by investors brave enough to open an account in Baghdad and reap the profits, which are unmatched in richness in the western world.”
About BB&M International Corporation
BB&M International (http://www.bbmone.com) is a robust firm focused on international business ventures, primarily in the Middle East. The company’s expertise and tenure in the business law and practices of the Middle East have allowed it to assist many successful investors.
Contact:
William Burbank
BB&M International Corporation
(619) 400-9063
bbm(at)onebox(dot)com
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William Burbank
BB&M International Corporation
619-400-9063
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