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guardian
12-20-2012, 01:11 AM
Central Bank Warka Bank choice between liquidation and payment of 200 billion dinars

19/12/2012 | (Voice of Iraq) - Add a comment -

Alsumaria News / Baghdad

face the Iraqi Central Bank, on Wednesday, warning liquidation of Warka Bank for Investment and Finance, unless repaid $ 200 billion Iraqi dinars before the end of this month. , the bank said in a statement released today, and got "Alsumaria News", a copy of which, "The Warka Bank for Investment and Finance and faced several problems and committed his administration numerous errors which summoned the Iraqi Central Bank to impose trusteeship upon start act Capricorn liquidate him, "noting that" major shareholders in the bank offered several proposals for rehabilitation."

the bank said that "studied options liquidation and rehabilitation With great care the interests of depositors and their rights," adding that he "noted that the liquidation of the bank was equity risk."

and affirmed the bank to "keep the Warka Bank on this case is contrary to trends central bank in building a Iraqi bank Rezin and enhance confidence in him," pointing out that he "decided to issue warnings to the Warka Bank until the 31 of December, the current, to be repaid as agreed to deposit two hundred billion dinars in the light of what has been meeting with him, and Otherwise take the central bank action to liquidate."

The central bank announced, in (26 June 2012), that the Commission guardianship formed to audit the accounts Warka Bank will distribute financial returns they receive from debt bank between owners small deposits, stressing that there are ten thousand small depositors in the bank.

Article 67 of the Banking Act that the Iraqi Central Bank to establish The license of the Bank of progress based on Article 67 and provide capital by the state for all or part of the assets and liabilities of the bank subject to rehabilitation.

announced Executive Director of the Association of Iraqi private banks Abdul Aziz Hassoun, in August 2011, that the Warka Bank needs to about 100 billion dinars Iraqi (90 million dollars) to boost liquidity, while confirming the Iraqi market for securities that the Board of Governors in the Iraqi Stock Exchange has decided to cancel listing of Warka Bank from the market, in accordance with paragraph ninth of Article V of the instructions number three amended for the year 2011, which provides for the cancellation company insertion if the stoppage of trading for six months without taking appropriate action to appeal, pointing out that the Warka Bank Stopped trading since the eighth of February 2010.

and the Warka Bank for Investment and Finance, which was established in 1999.

130 branches and 350 ATMs in throughout Iraq.

noteworthy that Iraq has seven state-owned banks and 23 private banks and eight Islamic banks in particular, according to the website of the Central Bank, the banking sector is dominated by banks, Rafidain and Rasheed Aovernmaan.


http://www.sotaliraq.com/mobile-news.php?id=81205#ixzz2FXZCc56F

Will-it-happen?
01-10-2013, 04:16 PM
Central Bank Warka Bank choice between liquidation and payment of 200 billion dinars

19/12/2012 | (Voice of Iraq) - Add a comment -

Alsumaria News / Baghdad

face the Iraqi Central Bank, on Wednesday, warning liquidation of Warka Bank for Investment and Finance, unless repaid $ 200 billion Iraqi dinars before the end of this month. , the bank said in a statement released today, and got "Alsumaria News", a copy of which, "The Warka Bank for Investment and Finance and faced several problems and committed his administration numerous errors which summoned the Iraqi Central Bank to impose trusteeship upon start act Capricorn liquidate him, "noting that" major shareholders in the bank offered several proposals for rehabilitation."

the bank said that "studied options liquidation and rehabilitation With great care the interests of depositors and their rights," adding that he "noted that the liquidation of the bank was equity risk."

and affirmed the bank to "keep the Warka Bank on this case is contrary to trends central bank in building a Iraqi bank Rezin and enhance confidence in him," pointing out that he "decided to issue warnings to the Warka Bank until the 31 of December, the current, to be repaid as agreed to deposit two hundred billion dinars in the light of what has been meeting with him, and Otherwise take the central bank action to liquidate."

The central bank announced, in (26 June 2012), that the Commission guardianship formed to audit the accounts Warka Bank will distribute financial returns they receive from debt bank between owners small deposits, stressing that there are ten thousand small depositors in the bank.

Article 67 of the Banking Act that the Iraqi Central Bank to establish The license of the Bank of progress based on Article 67 and provide capital by the state for all or part of the assets and liabilities of the bank subject to rehabilitation.

announced Executive Director of the Association of Iraqi private banks Abdul Aziz Hassoun, in August 2011, that the Warka Bank needs to about 100 billion dinars Iraqi (90 million dollars) to boost liquidity, while confirming the Iraqi market for securities that the Board of Governors in the Iraqi Stock Exchange has decided to cancel listing of Warka Bank from the market, in accordance with paragraph ninth of Article V of the instructions number three amended for the year 2011, which provides for the cancellation company insertion if the stoppage of trading for six months without taking appropriate action to appeal, pointing out that the Warka Bank Stopped trading since the eighth of February 2010.

and the Warka Bank for Investment and Finance, which was established in 1999.

130 branches and 350 ATMs in throughout Iraq.

noteworthy that Iraq has seven state-owned banks and 23 private banks and eight Islamic banks in particular, according to the website of the Central Bank, the banking sector is dominated by banks, Rafidain and Rasheed Aovernmaan.


http://www.sotaliraq.com/mobile-news.php?id=81205#ixzz2FXZCc56F


any news ??

cowpoke
01-11-2013, 02:49 AM
"the Commission guardianship formed to audit the accounts Warka Bank will distribute financial returns they receive from debt bank between owners small deposits, stressing that there are ten thousand small depositors in the bank. "

What does that part mean and who/where will the account be held for us owners of small deposits?

Dinar Index
01-11-2013, 08:55 AM
Is this a liquidation notice??
I have read the articles several times and still don't understand what is actually being stated!!!
Any opinions on what they are announcing here...

manwithnoname
01-11-2013, 09:29 AM
Is this a liquidation notice??
I have read the articles several times and still don't understand what is actually being stated!!!
Any opinions on what they are announcing here...

Personally I believe its more of the "either/or" situation. Its dated 19th December and we were aware of the scenarios before that.
Is it clarification of what is to happen if they dont pay, is the question? Worrying times methinks..
MWNN

War Eagle
01-12-2013, 04:35 PM
Why would a bank pay good dividends if they were going "out of business"?

RKING
01-15-2013, 02:44 PM
Why would a bank pay good dividends if they were going "out of business"?

Warka hasn't paid anyone for a long time. The interest paid in Dec is only on paper and they have not distributed any to their clients. I just hope they can pull a rabbit of of their hat.

Las vegas Kid
01-15-2013, 03:34 PM
Dear Sir,


With regards to Warka Bank for Investment and Finance current events and circulating news please note that our CEO and Chairman of the Board of Directors has submitted to the CBI a proposition a get well business plan exceeding the capital requirement set by the CBI covering over IQD 300 billion over a period of 6 months the standard period in accordance with the set business procedures protocols and guidelines where the board of directors hopes that this proposition is taken into consideration and approved for the good benefit of all the fine parties concerned where a notice will be posted on our website regarding the result of this proposal.

Best regards,

Warka Bank for Investment and Finance

baz
01-15-2013, 04:32 PM
Why would a bank pay good dividends if they were going "out of business"?

Have they? Warka bank is just as snakey as all the other banks we have all had dealings with over the years, Mr I seemed nice enough, probably is as a person, and chances are he dont know to much either as to whats going on, of course that is if he still works for them.

A bank is a business that's all it is, and like most business's will take your money right up to the last moment of trading, tell you a thousand times how well it's doing...then bam...gone.

I dont think we need to be told Warka is now in trouble, and if these numbers spoken of on here are anywhere near the truth, well what else can be said.

It might get out of it.....hows that for the half full glass approach then?

lglwzrd
01-16-2013, 12:21 AM
they are paying dividends you cant access....smoke.

Las vegas Kid
01-16-2013, 03:22 AM
Dear Sir,



Please resend your request for your stock portfolio noting that a fee of IQD 2500 will be deducted from your account.



With regards to Warka Bank for Investment and Finance current events and circulating news please note that our CEO and Chairman of the Board of Directors has submitted to the CBI a proposition a get well business plan exceeding the capital requirement set by the CBI covering over IQD 300 billion over a period of 6 months the standard period in accordance with the set business procedures protocols and guidelines where the board of directors hopes that this proposition is taken into consideration and approved for the good benefit of all the fine parties concerned where a notice will be posted on our website regarding the result of this proposal.



Best regards,



Warka Bank for Investment and Finance

Las vegas Kid
01-16-2013, 03:23 AM
Dear Sir,



Please resend your request for your stock portfolio noting that a fee of IQD 2500 will be deducted from your account.



With regards to Warka Bank for Investment and Finance current events and circulating news please note that our CEO and Chairman of the Board of Directors has submitted to the CBI a proposition a get well business plan exceeding the capital requirement set by the CBI covering over IQD 300 billion over a period of 6 months the standard period in accordance with the set business procedures protocols and guidelines where the board of directors hopes that this proposition is taken into consideration and approved for the good benefit of all the fine parties concerned where a notice will be posted on our website regarding the result of this proposal.



Best regards,



Warka Bank for Investment and Finance

lglwzrd
01-16-2013, 04:40 PM
this was sent to me by oldskiier. it is a response from mr i to a question he asked.

Dear Sir,

With regards to Warka Bank for Investment and Finance current events and circulating news please note that our CEO and Chairman of the Board of Directors has submitted to the CBI a proposition a get well business plan exceeding the capital requirement set by the CBI covering over IQD 300 billion over a period of 6 months the standard period in accordance with the set business procedures protocols and guidelines where the board of directors hopes that this proposition is taken into consideration and approved for the good benefit of all the fine parties concerned where a notice will be posted on our website regarding the result of this proposal.

Best regards,

Warka Bank for Investment and Finance

baz
01-16-2013, 08:08 PM
this was sent to me by oldskiier. it is a response from mr i to a question he asked.

Dear Sir,

With regards to Warka Bank for Investment and Finance current events and circulating news please note that our CEO and Chairman of the Board of Directors has submitted to the CBI a proposition a get well business plan exceeding the capital requirement set by the CBI covering over IQD 300 billion over a period of 6 months the standard period in accordance with the set business procedures protocols and guidelines where the board of directors hopes that this proposition is taken into consideration and approved for the good benefit of all the fine parties concerned where a notice will be posted on our website regarding the result of this proposal.

Best regards,

Warka Bank for Investment and Finance

Any idea of the date this was sent out and replied to? i have been sending emails for some time now and to date not one answer back from anyone in Warka, the short contents of the above answer seems to me to be a pretty standard type of answer most companys would use to cover up problems, after all they aint going to admit to being in the s*** house now are they.

300 billion of anything sounds a very far fetched amount to just suddenly come up with, but then i dont understand the banking world one bit and from what i can work out neither do the bastards that run them....unless of course when they want to work a fiddle.

chakkarchee
01-16-2013, 09:44 PM
Indeed this one way e-mailing to Warka is making me very jittery, and I have a very bad feeling, if any hope left with Warka it would be the ISC and what they can do to protect the foreign investers. I have given hope on Warka at this time.

lglwzrd
01-16-2013, 11:26 PM
this was the email that was sent by oldskiier, note the date, 1/11/13 so he received a quick response.


Date: Fri, 11 Jan 2013 19:27:24 +0200
To: <ifrd@warka-bank-iq.com (http://us.mc1106.mail.yahoo.com/mc/compose?to=ifrd@warka-bank-iq.com)>
Subject: Info Request.......



Dear Mr. I

I have been a customer of your fine bank for many years now, and have seen my Master Card canceled ..and have read many articles about the problems of your bank.... couold you please tell us if your bank is still in business, and if your going to stay in business..... and where are stock holdings in your bank stand . and maybe tell me why i do not get an answer from your stock dept. when i request a portfolio update or if i need to transfer my holdings into my name out of proxcy .... Please help me with this info .... and not just a blanket response.



Thank You

24mm exposed grid
01-17-2013, 05:43 AM
this was the email that was sent by oldskiier, note the date, 1/11/13 so he received a quick response.


Date: Fri, 11 Jan 2013 19:27:24 +0200
To: <ifrd@warka-bank-iq.com (http://us.mc1106.mail.yahoo.com/mc/compose?to=ifrd@warka-bank-iq.com)>
Subject: Info Request.......



Dear Mr. I

I have been a customer of your fine bank for many years now, and have seen my Master Card canceled ..and have read many articles about the problems of your bank.... couold you please tell us if your bank is still in business, and if your going to stay in business..... and where are stock holdings in your bank stand . and maybe tell me why i do not get an answer from your stock dept. when i request a portfolio update or if i need to transfer my holdings into my name out of proxcy .... Please help me with this info .... and not just a blanket response.



Thank You











Despite asking not to receive a blanket response........guess what...... he got a blanket response !

Not only that, but one that has already been posted somewhere else on this site already, maybe around Christmas if memory serves me correctly.

Thanks for posting though.

rfcr
01-17-2013, 01:54 PM
Should we consider our Warka accounts history????

lglwzrd
01-17-2013, 06:17 PM
Should we consider our Warka accounts history????

well, i do as well as my warka stock. but i withdrew most of my cash b4 the sanctions were imposed. did i mention my debit card is still not working??

ISX Maniac who uses Warka
01-17-2013, 08:17 PM
this was sent to me by oldskiier. it is a response from mr i to a question he asked.

Dear Sir,

With regards to Warka Bank for Investment and Finance current events and circulating news please note that our CEO and Chairman of the Board of Directors has submitted to the CBI a proposition a get well business plan exceeding the capital requirement set by the CBI covering over IQD 300 billion over a period of 6 months the standard period in accordance with the set business procedures protocols and guidelines where the board of directors hopes that this proposition is taken into consideration and approved for the good benefit of all the fine parties concerned where a notice will be posted on our website regarding the result of this proposal.

Best regards,

Warka Bank for Investment and Finance

The Dec. 31st deadline to come up with 200 billion dinar has passed and Warka is still operating. There must be some truth to this email. What gives?

baz
01-17-2013, 08:29 PM
The Dec. 31st deadline to come up with 200 billion dinar has passed and Warka is still operating. There must be some truth to this email. What gives?

Operating what? wont answer emails, cant use cards, cant get information as to how our accounts are doing, some say cant use internet service's, so if they are operating they must be doing it with their own kind in Iraq, and stuff the likes of us.

ISX Maniac who uses Warka
01-17-2013, 09:51 PM
Operating what? wont answer emails, cant use cards, cant get information as to how our accounts are doing, some say cant use internet service's, so if they are operating they must be doing it with their own kind in Iraq, and stuff the likes of us.

The isx department executes stock orders for me on a weekly basis. However all my emails to obtain a complete stock portfolio summary have been ignored for some time now. Has to make one go hmmmmmm???? I guess when I said "operating" what I really meant was hobbling along on one leg. The next WARKA news article will be interesting to say the least. And YES I do feel foreigners are being stuffed, stuffed like giant Turkeys!!:mad:

chakkarchee
01-17-2013, 10:18 PM
Warka cannot account for investor's portfolio and that goes for every foreign investors account I do not think there is single foreign investors who has a different experience. So if people think all of a sudden Warka will come up with a correct portfolio take my word it will not happen as it is not humanly possible in iraqi terms. so say good bye to your investment with Warka unless ISC has any intentions to provide and address for foreign investors confidence by intervening in Warka's brokerage affairs.

Kickabuck
01-17-2013, 11:50 PM
Is it really that hard to keep up with your portfolio with online access? My orders all have a Warka reference number when viewed online, the ISX transaction number is delivered via email when shares are bought. I know when shares are announced as free, I also know what paid in shares I purchase. Am I the only one who stays on top of their transactions? My spreadsheet is basically accurate, it reflects the shares I own with a slight deviance due to the free shares that have been declared but not distributed.

ISX Maniac who uses Warka
01-18-2013, 12:13 AM
Is it really that hard to keep up with your portfolio with online access? My orders all have a Warka reference number when viewed online, the ISX transaction number is delivered via email when shares are bought. I know when shares are announced as free, I also know what paid in shares I purchase. Am I the only one who stays on top of their transactions? My spreadsheet is basically accurate, it reflects the shares I own with a slight deviance due to the free shares that have been declared but not distributed.


Yes Ditto ^^^^. The only thing I wish would show online is the free and paid up shares. In the past when I received my portfolio the share counts were accurate. The only problem now is I CANNOT even get my portfolio sent to me. That is why I am frustrated. :mad:

24mm exposed grid
01-18-2013, 08:58 AM
Yes Ditto ^^^^. The only thing I wish would show online is the free and paid up shares. In the past when I received my portfolio the share counts were accurate. The only problem now is I CANNOT even get my portfolio sent to me. That is why I am frustrated. :mad:

Hmmm, who is this mystery Maniac. Safe to say he's had an alter ego here before now.

I see he adds a little humour to his posts, so that puts a few posters here out of the equation - Hi SE !

Spellings all good, so that throws a few others out - How ya doing EB.

Prone to using capitals & bold text.... could it be WE or maybe EBJNYC........ nah.

Mailman17 currently sitting at 100-1.

Any other guesses as to who our mystery new guy is ?

HumbleGenius
01-18-2013, 11:08 AM
Is it really that hard to keep up with your portfolio with online access? My orders all have a Warka reference number when viewed online, the ISX transaction number is delivered via email when shares are bought. I know when shares are announced as free, I also know what paid in shares I purchase. Am I the only one who stays on top of their transactions? My spreadsheet is basically accurate, it reflects the shares I own with a slight deviance due to the free shares that have been declared but not distributed.

For me it is. Of my many transactions only 5 show up online. When I requested a list of my portfolio is was so far off I know I am screwed. I was laughed at 3-4 years ago because I was pissed (and repeatedly posted it here) that Warka refused to switch my in proxy over to in my good name. I am open to apologies at this time from some of the old timers with a good view of the sea :)

English Bob
01-18-2013, 11:45 AM
Hmmm, who is this mystery Maniac. Safe to say he's had an alter ego here before now.

I see he adds a little humour to his posts, so that puts a few posters here out of the equation - Hi SE !

Spellings all good, so that throws a few others out - How ya doing EB.

Prone to using capitals & bold text.... could it be WE or maybe EBJNYC........ nah.

Mailman17 currently sitting at 100-1.

Any other guesses as to who our mystery new guy is ?



24mm..............................LOL

Not me .....not just from spelling ................I have no shares!

You have made me smile this morning with this post!


A bigger smile would be if they would send me my dosh!!!!


Hope all is well and a belated "Happy New Year"

EB

English Bob
01-18-2013, 11:49 AM
Hmmm, who is this mystery Maniac. Safe to say he's had an alter ego here before now.

I see he adds a little humour to his posts, so that puts a few posters here out of the equation - Hi SE !

Spellings all good, so that throws a few others out - How ya doing EB.

Prone to using capitals & bold text.... could it be WE or maybe EBJNYC........ nah.

Mailman17 currently sitting at 100-1.

Any other guesses as to who our mystery new guy is ?



PS

Not SE..................JMHO

Not concise enough!

EB

English Bob
01-18-2013, 11:51 AM
Yes Ditto ^^^^. The only thing I wish would show online is the free and paid up shares. In the past when I received my portfolio the share counts were accurate. The only problem now is I CANNOT even get my portfolio sent to me. That is why I am frustrated. :mad:


Crow

Is that you??

EB

Kickabuck
01-18-2013, 02:26 PM
For me it is. Of my many transactions only 5 show up online. When I requested a list of my portfolio is was so far off I know I am screwed. I was laughed at 3-4 years ago because I was pissed (and repeatedly posted it here) that Warka refused to switch my in proxy over to in my good name. I am open to apologies at this time from some of the old timers with a good view of the sea :)

Proxy is a different story HG, I understand why that's harder to track. When I access my account online and go into the left tab for ISX Trading, I then have an option for Order History. That allows me to list my order history for a specific date range. My display has every transaction since Oct, 2009 listed there with the transaction id, quantity, price, commission, and net transaction amount. My shares have always been correct when I purchase paid in shares and they forward a spreadsheet...many times the free shares are listed there too...guess I'm luckier than most.

Kickabuck
01-18-2013, 02:29 PM
Hmmm, who is this mystery Maniac. Safe to say he's had an alter ego here before now.


I'll place odds at 20-1 it's mariocart.

baz
01-18-2013, 04:00 PM
Your all wrong because i know 100% who it is, it's .6cfr3guiomnJKL!shhhhy ....damm it, sorry guys laptops broken.

lglwzrd
01-18-2013, 04:24 PM
my spreadsheet is simple-all 3 stocks left that i own are either delisted or havent traded in 2 years-but the numbers are accurate.

cowpoke
01-19-2013, 12:23 AM
my spreadsheet is simple-all 3 stocks left that i own are either delisted or havent traded in 2 years-but the numbers are accurate.

dang that was just flat out falling on the floor funny............................................. .................................................. ......... Good thing I had swallowed my drink seconds before..

dinar_dude
01-19-2013, 12:43 PM
I understand we're all concerned about the risk to our Warka bank accounts, but what about the stock accounts we hold in proxy and in our good names? Are those safe?

24mm exposed grid
01-19-2013, 02:17 PM
I understand we're all concerned about the risk to our Warka bank accounts, but what about the stock accounts we hold in proxy and in our good names? Are those safe?

All IMVHO. Stock held in name, I view as reasonably safe whatever happens to Warka, they can be transferred to another broker without any real problems other than logistics. Unless there is serious fraud going on at Warka we should be fine.

Warka proxy - who knows. I said a good 3 - 4 years ago, Warka proxy was not secure enough for me. A poxy excel sheet with some figures on it - absolute tosh in my book ! All my previous proxy holdings long since transerred to name or sold off. Is there a banking regulation in Iraq that forces banks such as Warka to 'ring fence' stock held on behalf of clients in proxy schemes ?

The only stock I hold in proxy is a considerable amount of Warka shares unfortunately worth diddly squat.

Good luck to all, we certainly need it.

ISX Maniac who uses Warka
02-25-2013, 12:36 AM
All IMVHO. Stock held in name, I view as reasonably safe whatever happens to Warka, they can be transferred to another broker without any real problems other than logistics. Unless there is serious fraud going on at Warka we should be fine.

Warka proxy - who knows. I said a good 3 - 4 years ago, Warka proxy was not secure enough for me. A poxy excel sheet with some figures on it - absolute tosh in my book ! All my previous proxy holdings long since transerred to name or sold off. Is there a banking regulation in Iraq that forces banks such as Warka to 'ring fence' stock held on behalf of clients in proxy schemes ?

The only stock I hold in proxy is a considerable amount of Warka shares unfortunately worth diddly squat.

Good luck to all, we certainly need it.


I certainly hope you are right. I have submitted my papers to Aljazera for opening a brokerage account with them. I expect to have it ready to go within 1 week. I am am going to try and Transfer my stock (all in my name) over. Has anybody here done this? I shall know soon enough if Warka has been scamming me.

ISX Maniac who uses Warka
02-25-2013, 03:48 PM
I certainly hope you are right. I have submitted my papers to Aljazera for opening a brokerage account with them. I expect to have it ready to go within 1 week. I am am going to try and Transfer my stock (all in my name) over. Has anybody here done this? I shall know soon enough if Warka has been scamming me.


Here is the response I received

Dear Sir,

Please note that it is possible to transfer your stock holdings to another brokerage firm where we need a signed authorization letter and a colored copy of your id as verification.


Best regards,

ISX Department
Warka Bank for Investment and Finance

dinar shore
02-25-2013, 04:55 PM
Maniac, How much does it cost to open an account at the Al Jazera brokerage?


Here is the response I received

Dear Sir,

Please note that it is possible to transfer your stock holdings to another brokerage firm where we need a signed authorization letter and a colored copy of your id as verification.


Best regards,

ISX Department
Warka Bank for Investment and Finance

chakkarchee
02-25-2013, 05:27 PM
Maniac, How much does it cost to open an account at the Al Jazera brokerage?

http://www.investorsiraq.com/forums/images/misc/quote_icon.png Originally Posted by ISX Maniac who uses Warka http://www.investorsiraq.com/forums/images/buttons/viewpost-right.png (http://www.investorsiraq.com/forums/showthread.php?p=2888#post2888)
Here is the response I received

Dear Sir,

Please note that it is possible to transfer your stock holdings to another brokerage firm where we need a signed authorization letter and a colored copy of your id as verification.


Best regards,

ISX Department
Warka Bank for Investment and Financ

I would also ask same question to Aljazera to make sure all's Kosher with them too about accepting transfer of shares from Warka

ISX Maniac who uses Warka
02-25-2013, 05:34 PM
Maniac, How much does it cost to open an account at the Al Jazera brokerage?

$10,000 must be deposited. There is no limit on wiring funds back. The only catch is the funds must come from sold shares. So I plan on buying $10,000 of a good bank, selling quickly then wiring it back.

ISX Maniac who uses Warka
02-25-2013, 05:36 PM
http://www.investorsiraq.com/forums/images/misc/quote_icon.png Originally Posted by ISX Maniac who uses Warka http://www.investorsiraq.com/forums/images/buttons/viewpost-right.png (http://www.investorsiraq.com/forums/showthread.php?p=2888#post2888)
Here is the response I received

Dear Sir,

Please note that it is possible to transfer your stock holdings to another brokerage firm where we need a signed authorization letter and a colored copy of your id as verification.


Best regards,

ISX Department
Warka Bank for Investment and Financ

I would also ask same question to Aljazera to make sure all's Kosher with them too about accepting transfer of shares from Warka

We received your documents and presented your application for an account with Aljazera Brokerage Company today ( Sunday , 24 February 2013 ) . We expect to receive your account by Tuesday . We shall then send you a scan of your account and our Wire Transfer information to send a $10,000USD wire from your bank account abroad to fund your brokerage account with our firm .
When we receive your wire , we shall notify you , send you a scan of it , and provide your account balance in Iraqi dinars . You can then send us a list of the stocks and number of shares for each stock that you wish to transfer from your Warka account to your new account with our firm . We shall complete on your behalf a special Form ( which is in Arabic ) for every stock you wish to be transferred . There is no limit for outgoing wires to the US as long as the amount comes from sold shares in your brokerage account .