View Full Version : *Central Bank Warka Bank choice between liquidation and payment of 200 billion dinar*

12-22-2012, 02:11 AM
The face of the Iraqi Central Bank, on Wednesday, warningliquidation of Warka Bank for Investment and Finance did not pay $ 200 billionIraqi dinars before the end of this month.
The bank said in a statement that the Warka Bank forInvestment and Finance and faced several problems and committed hisadministration numerous errors which summoned the Iraqi Central Bank to imposetrusteeship and start serious act to liquidate him,
Indicating that the major shareholders in the bank haveoffered several proposals for rehabilitation.
The bank said that he studied the options of liquidation andrehabilitation under very careful of depositors 'interests and rights, pointingout that he noted that the liquidation of the bank shareholders' equityexposure to risk.
The bank that keep the Warka Bank on this case is contraryto trends central bank in building a Iraqi bank Rezin and enhance confidence inhim, pointing out that he decided to issue warnings to the Warka Bank until the31 of December, the current, to be repaid as agreed to deposit two hundredbillion dinars in the light of what has been meeting with him, otherwise, thecentral bank takes action to eliminate him.
The central bank announced, (26 June 2012), that thetrusteeship committee formed to audit the accounts of the Warka Bank willdistribute financial returns that you get from bank debt among smalldepositors, stressing that there are ten thousands of small depositors in thebank.
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02-20-2013, 05:33 PM
Hey guys! Where are all the OGs (ISX Veterans)........So what is the word with Warka now? What happens now if we still have stocks in proxy and still under Warka control? And what is going on with Warka stock itself?

It's been awhile since I look at the ISX. I have lost most of my interest in Iraq. The progress/ payout is too slow...

02-20-2013, 08:13 PM
With regards to the CBI press statement 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.