PDA

View Full Version : WARKA Iraqi civil banks refrain from delivery and customer deposits



thebest
03-25-2015, 08:38 AM
Iraqi civil banks refrain from delivery and customer deposits

Mustafa al-Obeidi
March 24, 2015

http://www.alquds.co.uk/wp-content/uploads/picdata/2015/03/03-24/24qpt950.jpg (http://www.alquds.co.uk/wp-content/uploads/picdata/2015/03/03-24/24qpt950.jpg)

BAGHDAD - «Quds Al-Arabi» intervention of the Central Bank of Iraq and the Finance Committee in Parliament to resolve the problem of the reluctance of some private banks to hand over their customers and financial deposits.
After news leaked about the reluctance of some private banks to give deposits to its customers, the CBI tried to play dealers concerns with private banks The concern of non-payment of «deposits» owed ​​by those banks, stressing that he can ensure that money through the «legal reserve» available at each bank.
The Iraqi Central Bank announced a series of actions may enhance liquidity, which is one of the causes of the problem. The director of the release and cabinets in the Iraqi Central Bank, Ihsan Yasiri, that «there are several complaints against some private banks lagging in their work, such as Bank of the economy actually under the tutelage of the Central Bank, and the Warka who raised him guardianship, and the North Bank.
He said that the main problem is concentrated in the availability of cash, and tried to reassure depositors that «CBI sponsor re their money through legal reserve which each bank, which is launched in Crisis».
The Finance Committee of the House of Representatives has announced that it filed a complaint to the Ministry of Finance against some banks that suffer Problems administrative caused not give deposits to its clients, and revealed that she put in the budget of 2015 article calling for the enactment of laws to guarantee deposits.
The parliamentary finance committee accused the director of the Commercial Bank of Iraq, Hamdiya dry, lend to the central bank in the Kurdistan Regional Government an amount of two and a half billion dollars by several months without any warranties. Statements as rumors about her escape to Russia after the emergence of many irregularities in the bank's business.
Dr. Hamid Abbas teaching, a professor at the Faculty of Economic Sciences of the reporter Quds Al-Arabi that «private banks controlled by the CBI, which provides a monthly budget to the Central. Central has taken measures to curb the faltering work of some banks, such as putting some under guardianship to protect its customers rights, as happened with the banking economy and Warka ».
He explained Abbas, said that the work of private banks in Iraq, where a lot of gaps, including the lack of a clear law to protect the Customer deposits with banks , as is the case in most countries of the world. Also, some powerful political forces in the government set up a special banks for money laundering and transfers of hard currency abroad is haunted by a lot of suspicions. He said these things is one of the reasons for the lack of liquidity in some banks and thus the inability to repay deposits to customers.
Dr. Abbas to other reasons for the lack of liquidity in some banks, including the delay in approving the budget, and delayed payment of the ministries that the debt to domestic banks Exchange, in addition to the banks Btzlev civil government large sums of money to cover the deficit has to pay employees' salaries.
He also noted that the displaced crisis also affected the liquidity through the displaced to withdraw their savings in the banks to meet the conditions of displacement.
Mustafa al-Obeidi

http://www.alquds.co.uk/?p=315832

oldskiier
03-25-2015, 04:06 PM
"stressing that he can ensure that money through the «legal reserve» available at each bank."

Are they saying we will get our money.,....???

Brazileiro
03-25-2015, 09:30 PM
"stressing that he can ensure that money through the «legal reserve» available at each bank."

Are they saying we will get our money.,....???yes,,,but "when" is another question...

Will-it-happen?
03-26-2015, 12:31 AM
Must be by April , surely !!!

https://www.youtube.com/watch?v=0A5t5_O8hdA

thebest
03-26-2015, 12:53 AM
"stressing that he can ensure that money through the «legal reserve» available at each bank."

Are they saying we will get our money.,....???

Yeah! But remember, that news was leaking and I suppose that we didn't know the news, and I think that one day we wake up and we will receive the information that everything was already done! I'm sure there are much information that even we don't known.

Mo Dinar
03-26-2015, 11:22 AM
Sunn, very Sunn!


yes,,,but "when" is another question...

pirata
03-26-2015, 01:58 PM
Sunn, very Sunn!
Agree due to the main increase in the amount of
shares that been selling in the ISX especially the
banks.Now,I would like to ask what is the relationship
between the index and the share valued?
ThNks

BatmaninIraq
03-26-2015, 08:55 PM
I would like to know the expected share price when every things in good shape or after 5 years....

Will-it-happen?
03-27-2015, 01:23 AM
Lets hope we DONT have to wait another 5 years !!!!!

haggisbasher
03-28-2015, 07:11 AM
My Gut feeling the now is telling me to expect a announcement from Warka Bank from CBI,MOF,ISC and or Al-Warka Bank given a swift return to trading & assets unfrozen maybe damages paid is very close, Confidence is High.
Awaiting the announcement of the 3 new economic laws very soon that will release billions of $$$ into private banks to kick start the economy.

oldskiier
03-28-2015, 06:49 PM
My Gut feeling the now is telling me to expect a announcement from Warka Bank from CBI,MOF,ISC and or Al-Warka Bank given a swift return to trading & assets unfrozen maybe damages paid is very close, Confidence is High.
Awaiting the announcement of the 3 new economic laws very soon that will release billions of $$$ into private banks to kick start the economy.


I Agree !!! :)

mike032588
03-28-2015, 09:44 PM
I Agree !!! :)


my guys sumrized it like this

"it is a condemnation from the private banks association to some of the Iraqi politicians statements about the private banks.they (the private banks association) are blaming those politicians' statements to degrade the trust between the banks and their customers."

lonelyintexas
03-28-2015, 09:51 PM
Sure sounds good, been along time coming. Patience has paid off.
Thanks
LIT
:cool:

dinar shore
03-29-2015, 02:46 AM
Does anyone know if it is the sole responsibility of Al Warka Bank to reconcile our ISX portfolio? Like many of others here, I have speculated 80%+ of my IQD stash into the ISX from day one it was accessible. When camel face, Maliki, almost decimated Warka over the Shiite vs Sunni religious feud, I wasn't sure Warka would survive.

It is good to see the number of 'ole timers' like me posting again! It was the Wild, Wild West back in the day!

tipawin
03-29-2015, 07:34 AM
Hi All
June last year warka sent me an uptodate list of my stock portfolio divided into 2 sections section 1 was proxy shares section 2 was shares in my good name
in 2005 when I purchased most of the shares they had a value of 67,154,942.30 dinar as at today they have a value of 4,434,130.66 dinar I am positive they will go back up to ???????

Can anybody explain why the isx went up 1100% last week when no share prices have increased to that extent

haggisbasher
03-29-2015, 10:30 AM
Maybe they are number crunching again, never really understood how to read the ISX index. but I think the ISX is seizing the ISX60 index for the removal of the zeros from the IQD.

Got 100M IQD ready to ramp up again on bank shares, made massive profits on last big sell,sell,sell.i had just as this was going down with Warka.

Going to go top heavy again with bank shares that CDs,My Portfolio will reflect a( 80% shares)-( 20% Cash.)

I would like to think my cash premiums I am owed will be paid into my Warka account by some bank that is holding it.

haggisbasher
03-29-2015, 01:40 PM
Does anyone here know what the price per/share was at when Warka bank stopped trading.?????
I demand my damages to my accounts from the CBI, the ISC and maybe even the Iraq Government. its time to pay up..

This will happen when the Investment law is enacted soon..

buck74
03-29-2015, 02:11 PM
Seems to me it was about 1.6 dinars, but that is just from my memory which is not always 100% accurate. :)
There is a lot of great news here, I had about 10 million shares of Warka alone. My portfolio is all bank stocks, and was 100% in my good name.



Does anyone here know what the price per/share was at when Warka bank stopped trading.?????
I demand my damages to my accounts from the CBI, the ISC and maybe even the Iraq Government. its time to pay up..

This will happen when the Investment law is enacted soon..

pirata
03-29-2015, 04:17 PM
Seems to me it was about 1.6 dinars, but that is just from my memory which is not always 100% accurate. :)
There is a lot of great news here, I had about 10 million shares of Warka alone. My portfolio is all bank stocks, and was 100% in my good name.
Correct was between 1.6 to 1.7 dinar!!

Will-it-happen?
03-29-2015, 05:34 PM
1.27

http://www.isx-iq.net/isxportal/portal/companyprofilecontainer.html?companyCode=BWAI%20&activeTab=0&search=1

HumbleGenius
03-29-2015, 11:08 PM
Does anyone here know what the price per/share was at when Warka bank stopped trading.?????
I demand my damages to my accounts from the CBI, the ISC and maybe even the Iraq Government. its time to pay up..

This will happen when the Investment law is enacted soon..

I have to chuckle at the number of people that think passing investment laws and deposit insurance laws now will be made retroactive. We got in when we did before any of that was in effect. That's why the big boys did not come in. We rolled the dice and so far we are losing. Hope that changes but please don't bet on retroactive laws to recover our losses so far.

pirata
03-30-2015, 12:10 AM
Maybe they are number crunching again, never really understood how to read the ISX index. but I think the ISX is seizing the ISX60 index for the removal of the zeros from the IQD.
hello ; I would like to know how you relate the isx60 with the removal of zeros?
thanks

thebest
03-30-2015, 08:44 AM
I have to chuckle at the number of people that think passing investment laws and deposit insurance laws now will be made retroactive. We got in when we did before any of that was in effect. That's why the big boys did not come in. We rolled the dice and so far we are losing. Hope that changes but please don't bet on retroactive laws to recover our losses so far.

After news leaked about the reluctance of some private banks to give deposits to its customers, the CBI tried to play dealers concerns with private banks The concern of non-payment of «deposits» owed ​​by those banks, stressing that he can ensure that money through the «legal reserve» available at each bank.

http://www.investorsiraq.com/showthread.php?10140-WARKA (http://www.investorsiraq.com/showthread.php?10140-WARKA)-Iraqi-civil-banks-refrain-from-delivery-and-customer-deposits

the coming days will witness the return of banking activity the economy and the Warka after the completion of raising the central tutelage them measures. He said in a statement the "morning" the banking sector where the future and the trading of exaggerations in the conditions of these banks are exaggerations improper where we hear every now and then there are the banks under guardianship because of hardship or bankruptcy.

http://www.investorsiraq.com/showthread.php?10140-WARKA (http://www.investorsiraq.com/showthread.php?10140-WARKA)-Iraqi-civil-banks-refrain-from-delivery-and-customer-deposits

HumbleGenius
03-30-2015, 12:42 PM
After news leaked about the reluctance of some private banks to give deposits to its customers, the CBI tried to play dealers concerns with private banks The concern of non-payment of «deposits» owed ​​by those banks, stressing that he can ensure that money through the «legal reserve» available at each bank.

http://www.investorsiraq.com/showthread.php?10140-WARKA (http://www.investorsiraq.com/showthread.php?10140-WARKA)-Iraqi-civil-banks-refrain-from-delivery-and-customer-deposits

the coming days will witness the return of banking activity the economy and the Warka after the completion of raising the central tutelage them measures. He said in a statement the "morning" the banking sector where the future and the trading of exaggerations in the conditions of these banks are exaggerations improper where we hear every now and then there are the banks under guardianship because of hardship or bankruptcy.

http://www.investorsiraq.com/showthread.php?10140-WARKA (http://www.investorsiraq.com/showthread.php?10140-WARKA)-Iraqi-civil-banks-refrain-from-delivery-and-customer-deposits



i hope it works out.

manwithnoname
03-30-2015, 09:35 PM
Hi All
June last year warka sent me an uptodate list of my stock portfolio divided into 2 sections section 1 was proxy shares section 2 was shares in my good name
in 2005 when I purchased most of the shares they had a value of 67,154,942.30 dinar as at today they have a value of 4,434,130.66 dinar I am positive they will go back up to ???

Can anybody explain why the isx went up 1100% last week when no share prices have increased to that extent

Jeez.. Sure hope they do go back up for ya otherwise you'll have to change your name!! :-)

anele
03-30-2015, 11:38 PM
Hi All
June last year warka sent me an uptodate list of my stock portfolio divided into 2 sections section 1 was proxy shares section 2 was shares in my good name
in 2005 when I purchased most of the shares they had a value of 67,154,942.30 dinar as at today they have a value of 4,434,130.66 dinar I am positive they will go back up to ???????

Can anybody explain why the isx went up 1100% last week when no share prices have increased to that extent
From Rabee Securities:

ISX adopted the new indexISX stopped calculating index ISX37, which was depending on 37 ISX-listed companies. Now, it is adopted the new index ISX60 which is depending on 60 ISX-listed companies upon approving its method of calculation. The free floated shares of the 60 selected companies will be considered in ISX60 index.
http://www.rs.iq/iraq_news/view/6897



Iraq Stock Exchange announced on Monday that it had suspended index “ISX37″ so as to double the representation of companies for the movement and direction of the market by including accurate data.
The exchange said in a statement posted on its official website, it is currently testing the “ISX60″ index.

The stock market noted that “ISX60″ index used to measure the the trading system X-stream calculated in each session of sample of (60) listed companies as of February 9, 2015.

Mubasher.info (http://www.mubasher.info/ISX/news/2707641/%D8%A8%D9%88%D8%B1%D8%B5%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D8%AA%D9%88%D9%82%D9%81-%D9%85%D8%A4%D8%B4%D8%B1-ISX37-%D9%88%D8%AA%D8%AE%D8%AA%D8%A8%D8%B1-ISX60-#.VPSHpnzF_E0)