Thursday, January 08, 2004

Ready for the first disbursement of funds to Ays

A bank in Baghdad has been found that can accept money being wired to a bank in Jordan. Here are the details:

THE JORDAN KUWAIT BANK
H.O P.O Box 9776 ABDALI 11191 / AMMAN - JORDAN
Swift - JKBAJOAM
Tel + 962 6 562 9400 Ext 1100 - Mr.Milad Faraj
Fax + 962 6 569 5604

FOR A/C NO:- 2058XXXXX
CREDIT BANK OF IRAQ-Baghdad
I am planning on making the first wire transfer today. I'll post more details on the progress of the money transfer as they happen.

Update* A Mr. Wong from the US Treasury department spoke to me today about the wire transfer. He asked a couple questions about what the money was to be used for and besides telling him it was to help Iraqi bloggers, I asked him to read Ays's website. Right now he has the wire on hold, but said things should be cleared up by tomorrow (Tuesday Jan-06). Was a little surprised a $750 transfer tripped a threshold somewhere in the bowls of the US government that caused them to actively investigate what was going on. Have to give them a point for actually being on the ball and hopefully they don't earn a bunch of demerits for delaying the money transfer more than necessary. I'll keep everyone updated as developments happen.

Update** Oops, seems Mr. Wong is not with the US government, but is actually with the compliance department at E*Trade Bank. Mr. Wong has a request into the US Treasury department for approval to send the money. My customer service rep is working the issue and I'll keep people posted on developments.

Update*** Just got a call from my customer service rep at E*Trade and the wire has been approved. Not sure how long it will be before Ays gets access to the money and there are still many things that can delay the transfer, but we are moving again in the right direction. Hopefully I'll have more positive news to report in the coming days.

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