Miskiin-Macruuf-Aqiyaar

Fake 'country' signs fake contract with a fake bank

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No, this is not an article by the satire site The Onion. It is true that a non-existent country signs a non-existent contract with a non-existing bank. Read on.

Somaliland inks deal with pseudo-bank purportedly based in China

The breakaway Somaliland and China-based sham bank inked Memorandum of Understanding on a billion dollar investment in the region.

Somaliland, a regional state in northern Somalia declared independence from the rest of the country, a unilateral proclamation which remains unrecognised the world over.

In an event held by the bank, the state’s Investment Ministry and Maxtor Bank signed the deal seeking to implement vast development projects in Somaliland, according to the signatories of the pact.

Somaliland Investment Minister, Mohamed Ahmed Mohamud who signed the MoU said the bank will handle the foreign largest investment in the region.

Speaking at the event, Mr. Mohamud said Maxtor Bank will invest in the tourism industry.

According to the MoU, the bank will finance in several areas including wildlife centres luxury hotels, supermarkets farms as well as universities.

Pseudo Bank Name

Somaliland authorities previously signed agreements with private companies to invest its areas, a move criticised by the federal government of Somalia.

Among the agreement are, Berbera military base and Berbera port deal signed with the government of United Arab Emirates.

The MoU between Somaliland and the so-called Maxtor was said to be shoddy, according to Hargeisa Based online media.

Somaliland Chronicle, an online media reported that it revealed the Maxtor bank to be non-existent financial institution after the media contacted China Securities Regulatory Commission (CSRC) and the Bank of China.

“Somaliland Chronicle has contacted China Securities Regulatory Commission (CSRC) and the Bank of China to try and find out more about Maxtor Bank and it turns out that they are not aware of the existence of this bank,”  Somaliland Chronicle stated, “They suggested that we double check the name of the bank but assured us that Maxtor Bank is not on their registry.”

It further noted that they researched the authenticity of the institution and its entity but found no genuine name of the bank.

“In our research, the closest thing we are able to find to Maxtor Bank is UN Maxtor Bank, a website with very little information that was last updated in 2012 and few other entities with variations of the name United Nations Maxtor registered with various authorities in the United States and the United Kingdom,” it said.

Somaliland Chronicle has concluded its investigation that It was entirely possible that Maxtor Bank goes by a different name, “And it may be entirely possible that it is sort of a venture capital where they will be raising the funding from private investors.

Xigasho

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cadnaan1   
37 minutes ago, Miskiin-Macruuf-Aqiyaar said:

 

Oh, maan. When will this marqaan-based delirium madadaalo end? Do they think the masses can easily be fooled now? At least try filin soconaayo.

Kkk after watching the video I knew these guys were fake they don't look professional,

Who is responsible for this embarrassment.

  • Haha - That was funny. You made me laugh! 1

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Oodweyne   

Hello Folks,

The sheer illiteracy of the financial kind we have in here in these anti-Somaliland brigade of SOL is a sight to behold. You see, in China, the Private hedge funds outfits actually sometimes calls themselves "banks". Specifically, when they dealing with any "contractual documents" that will be signed with others as in third parties (outside of the country). And this is very much unlike what the hedge funds and portfolio holders of the western's countries do, who in turn are, fiduciary required by their governments, to state their legally registered and known name within their country-of-origin in any contract they signed with third parties.

And here is the reality of this news you just quoted in here, folks, and it says this:

".....It was entirely possible that Maxtor Bank goes by a different name, “And it may be entirely possible that it is sort of a venture capital where they will be raising the funding from private investors....."

What this mean is that the Maxtor bank is venture capital hedge-fund management portfolio holding outfit (I admit it's mouthful in describing it). And it's not in the normal sense a Bank as traditional understood it in western world. This is what you financially illiterate lot, who never had to deal with the freaking idea of raising fund for unrecognized state, will never know.

For in China venture capital that raise funds from hedge funds outfits are actually call Banks (both colloquially and in the Chinese's money-market-world as well). And they are unregulated outfits. Go learn a bit about how the raising capital from hedge-fund or from pension-portfolio holders (from China) actually works. Or at least how those who are financial-fund-raising-vehicle(s) that are based, in jurisdictional sense, in China, actually operates on the ground in China.

However, the bottom-line is to actually raise the freaking venture capital funds you need from these "Privately-held and privately-owned venture capital outfits". And then invest the money into the country. And in China, there are what is is known as a "Private-financial management vehicles" (PFMV) or similar sort of thing. And their job is to raise funds from pension holders or from those who are known as the "shadow banking" of China, or even from the money-market. And do that either through direct investment from them, or through agreed allocated-share-dividends from the proceed of that investment back to the original money-market-investor, when the company strike rich from that original investment.

Hence in china, the name "Bank" itself (unlike the West) has no larger catch of itself. But what matters is the ability to actually raise the venture capital funding you need for your business and investment requirement.

And in China, the "shadow banking" (a very large proportion of the financial institutions of China), which is where most of the private investment into the third world comers from, are far more important of a place to raise the venture capital you need for your investment than the normal and the boring the "big-regulated state's banks" of China. And this regulated banks, are indeed the kind of banking outfit in which the Chinese regulatory agencies actually "authorizes" (or direct) their investment portfolios into any third-world country Beijing wants an investment to go to.

And that will be the case with any "regulated big Chinese's state banks" which in turn means the Chinese government will need to "insure" any investment that is likely to come to your way (as a third county\) from those big banks of State's concern.

Furthermore, this "insurance" is the most important thing for a Bank who wants to do an international investment into the developing world or towards what is known as the "frontier-world-economy" for investment purposes will actually need from the Chinese State, if indeed the bank was a Chinese bank.

And this "frontier-world-economy" is actually the name that is given to post-conflict or fragile states the world over, such as places like (Somaliland). And that means, in a vicious circular sort of way, that once again for a registered big official banks of China to invest anything at all in places like Somaliland, they still need this kind of "governmental's insurance" (or approval) just in case things go south on that investment of theirs. And, of course, this "insurance" was never likely to be forthcoming in the first place form the Chinese state, due to the lack of our State's recognition.

And therefore, since the "insurance" of the kind the officially registered banks will need to invest in Somaliland in not likely to be forthcoming from the central government in Beijing due to the lack of recognition of Somaliland (as I said it), then that actually means our best bet is the "venture capital route" and the direct investment from the institutional money market.

Or from "private-held-venture-capital" with their "high tolerance of risk" (both legal and financial) already in place with them, particularly as a "structured portfolio" ready to go to those places in which major "regulated banks" of China will not touch it, due to the all of the issue I just explained to you such as the lack of recognition of Somaliland.   

Consequently, this brings me back neatly to the point I was trying to say, which is, that you guys actually really need to try not to lose a sight of the forest for the trees in here. And by that I mean, whilst you are hanging your hat on the small matter of whether this is a bank or not (in the Western's sense of what Banks supposed to be or whether its a registered bank with the central bank of China) don't lose the sight of the larger forest that is the ability to raise a private venture capital (i.e., from a private financial vehicles) in which on the back of that then Somaliland could actually not only raise enough money in that way for its purposes. But it could also do, in fact, get for the country into a various further lucrative investment from the "shadow banking of China" down the line, if this particular deal bare fruits in here in the mean-time.

Moreover, yo can do all that sort of investment without actually being recognized as a state (i.e., an official member of the UN), which is what at the moment is legally "hampering" us in Somaliland in actually getting a "direct big investment" (apart from the recent DP World) from all of the international renowned and registered major banks and companies the world over.

And this deal (an essential venture capital deal) actually does by"circumventing" our lack of recognition, whilst at the same time "raising" the venture capital funds we need for others to invest in our country from the liquid-rich shadow banking of China.   

It really is a deep downer to keep educating you miserable ninnies about matters of small and large. And even do it on every freaking day in here of SOL. Learn things of these sort before you open your collective mouths in here and then exposed yourself for the sheer mind-numbing-limitations you lot have about this issue and many others as well, indeed.

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Saalax   
12 minutes ago, Dahireeto said:

:) :)

That Chinese lady looks she's been working the Chow-Lo kitchen for a while. Not a billion dollar investor. Perception is reality.

 

:D :D

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Oodweyne   
2 minutes ago, Dahireeto said:

:) :)

That Chinese lady looks she's been working the Chow-Lo kitchen for a while. Not a billion dollar investor. Perception is reality.

Cheap argument, yea pirate ninny. For perception may be reality to you, But to us the venture capital investment of this kind in which this deal is likely to raise is far more tellingly important to us. 

Furthermore, I will have you know, that, we still have a "standing bet" between us, which is, as you recall, your prognosis that had hold, that, the DP world will not invest a penny in Somaliland. And I, of course, said it, on the contrary, that, you should wait till Late September and early October of this freaking year to see whether it was you or I, who were shooting the breeze with endless waffle on this issue.

And, for good measure, in the mean-time, we can add (if your fancy takes you) this deal into that old "bet" we had to ourselves just to see whether I will get lucky or it will be you who will do a bit of "Pirates'-jig-of-dance" when both of these deal are seen for what they turn-out to be in the fullness of time. :P

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Maymay land is under Ethiopian occupation and our sankadhuudhi from dawarsiland is fixated with Somaliland  no wonder Somalia is Africa most failed state. Ileen dadkeedi baan noolayn.

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5 hours ago, Dahireeto said:

:) :)

That Chinese lady looks she's been working the Chow-Lo kitchen for a while. Not a billion dollar investor. Perception is reality.

Exactly as I thought. See indhaha u taag taageyso ka arkeysaa. She cannot believe they seem to believe she is a representative of a major Shiinees financial company. Well, she doesn't know this is the result of a 27-year of non-stop jaad session. Drug addicts and junkies could be sold to anything and nothing.

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Oodweyne   

Well, I suppose, you can say that one wonders what one should call a 21 years (from 1997) of constant humiliating occupation of one's region?

And what sort of socially degrading and communal disfigurement, not to say nothing about having a "teeming little army bastards" for one's dishonor to contend with, could indeed have resulted in that long of a time?

Anyone with a free mind to ponder things will be hard pressed to truly wonder about the sheer enormity of it all.

But then, again, it's easier for some to worry about others, like Somaliland, who are in turn are trying, however challenging or hard, to uplift themselves by their own freaking bootstrap, even making an "investment deal" with those who may not be (shall we say) a "New-York's quoted financial companies" of this world, instead of worrying about how long such wretched condition of being a colonized people will last going forward for their kin and kith back in Bay and Bakool.

And more to point, if Somalilanders are out of their "collective heads" with sheer intoxication of being dazed with constant "Jaad session," then one wonders what is "mental state" for those who are being colonized for that long of a 21 years of a duration. And who still to boot, gives the impression as if that is not long enough for them to see their "despoiled-social-condition" in so clear of a way as others actually see it.

Hence, the question that begs the audience for an answer is what on earth could their laughable excuses really be in here?

Perhaps,......they have accepted (or sub-consciously have internalized) that they only are sporting to their names a "slave mentality" of the kind that tells them that they are put on this earth to "bossed" about by others. And therefore it makes no blind bit of difference if those who are so doing the "bossing-about" to them are either a mere "two-bit-warlord" by the name of Aided Junior. Or whether it's the Ethiopian's teeming swarthy-army-lads in their regions.

Perhaps,......they think that knowing their old profession of being "teeming beggars" of the Somali peninsula, which in turn didn't "culturally inculcated" them with any sense of "dignity" or "honor". And therefore, they reasoned to themselves that being ruled by others is no more of a "socially unacceptable" or "seriously "undignified" than the mere spectacle of standing around in the "street corners" of old Mogadishu just to chance one's luck for one's daily bread from others who may be inclined to be rather merciful towards them, indeed. 

Perhaps,......

Perhaps,......

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Saalax   
1 hour ago, Miskiin-Macruuf-Aqiyaar said:

Exactly as I thought. See indhaha u taag taageyso ka arkeysaa. She cannot believe they seem to believe she is a representative of a major Shiinees financial company. Well, she doesn't know this is the result of a 27-year of non-stop jaad session. Drug addicts and junkies could be sold to anything and nothing.

kkkk walle wa comedy. This is not the first time though.  Foreigners who are nobody are passed as somebody in that region.  :D

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