View Full Version : Al-Karmal broker

Scott Gonzales
01-08-2013, 01:24 PM
People frequently ask questions about ISX brokers. I started with Warka many years ago and transitioned to Al-Karmal about 2 or 3 years ago. Today, I received summaries for all of my accounts from Al-Karmal. I received similar summaries last year. It was interesting that the summaries did not include delisted companies like Al-Basrah Bank and Warka Bank. Unfortunately, not listing those companies show my account having a profit rather than a loss. That is a minor issue in documentation though. Bottom line, I am happy with Al-Karmal. He has consistently provided good service to me.

I am a buy and hold ISX investor. So, I cannot comment about the current purchase and sell of shares. In the past, though, I have had no problems with that process at Al-Karmal. I continue to recommend him as a broker.

01-08-2013, 01:50 PM
Thanks Scott

01-09-2013, 04:43 AM
I emailed them twice trying to open an account and never got a response. I was hoping to get some Asiacell shares while waiting to see what happens with Warka. :o(

24mm exposed grid
01-09-2013, 08:47 AM
This forum being what it is, is about sharing your exoeriences on all things Iraq, so thanks Scott for posting your experience with this broker.

My own experience from around 18 months ago, with this guy is a lot different. Extremely poor response to emails, if any. On several occasions, I had to email 3 times before any response was received. Spoken to other clients of Al Karmal through this forum who have confirmed that this is typical 'although he always comes through in the end' has been mentioned. I was advised by a Karmal client who is a member here to resend the same email 3 times and if no response send a 4th one with CAPITAL LETTERS in the title - For a company that one would think would be trying to attract business, all I can say is what a pathetic way to carry on.

Not sure about most people here, but 'always coming through in the end' is simply not good enough for me. This guy knew that I had over $70k in stock I wished to transfer to his (1 man) brokerage, yet offered consistently poor communication and service leaving me with absolutely no confidence in him and left me with no option other than to discontinue dealings with him.

My opinion of Al Karmal brokerage is about as low as it could be.