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thebest
03-16-2018, 07:45 PM
Our News / Warka Capital Increase








To our esteemed and distinguished Warka clients,

Warka Bank for Investment and Finance is delighted to inform its fine clients that the distinguished Central Bank of Iraq has approved that our clients participate in the upcoming capital increase. Warka clients are now permitted to purchase Warka stock from the funds depoisted in their bank accounts participating in the capital increase in accordance with clause 56 no. 4 of the Iraqi Company Registration Law the adjusted law no. 21 for the year 1997 . There are no limitations to the amount of shares purchased where Warka clients are permitted to use their entire deposits to purchase Warka Stock participating in the Capital increase.

Warka clients are kindly requested to submit a signed authorization letter authorizing our bank to withdraw funds from their account to purchase the stock indicating your account number, signature, the funds in IQD to be withdrawn from your account as well as a clear colored copy of your id and passport.

The Warka stock will be purchased at a value of 1 IQD per Warka share and will be registered in the clients 's good name in the ISX depository system where the stock will re-trade regularly back in the Iraqi Stock Market once the general assembly hearing and capital increase procedures have been completed.

Warka clients wishing to participate in the capital increase are kindly requested to send their authorization letter with the full details indicated above to our brokerage office 3044@warka-bank-iq.com within two weeks from posting this notice.

Wishing all our Warka clients prosperity and growth true success and much fortune

Respectfully,

Warka Bank for Investment and Finance

http://www.warka-bank.com/?0d64a1934dcafd4bf6a2baf7b165

thebest
03-16-2018, 07:57 PM
Clause 56 no. 4 of the Iraqi Company Registration Law the adjusted law no. 21 for the year 1997

Article 56:
First: In the joint-stock company, the new shares must beplaced for public subscription within 30 days from the date on which thecompany is notified of the Registrarís approval of the increase in thecapital. The subscription shall remain open for a period of not less than30 days and not more than 60 days, which may be renewable once for asimilar period, provided the value of the shares is paid duringsubscription. The increase in the capital is achieved by the number ofshares subscribed and paid up on the closure of the subscription.Otherwise, and in so far as it does not conflict with the nature of theincrease in the capital, the original provisions on subscription shall beapplied on the new shares, including the provisions of Articles 44 and 47of this law.
Second: In the limited liability company, the value of the new sharesmust be paid within 30 days from the issuance of the general assembly'sdecision to increase the capital. The increase is achieved by the numberof shares whose value is paid up at the end of the period.
Third: Every shareholder has the priority to buy shares at the subscription price proportional to the number of the shares he owns. Share holders shall be allowed to exercise this right within a period of 15 days from the date they are invited to do so. The invitation must state the beginning and end of the subscription period and the nominal value of the shares. If some shares are not subscribed after the period stipulated in paragraph First of this Article, the board of directors may place the shares for sale in the Baghdad Stock Exchange market in the manner it deems suitable.
Fourth. In the case of banks increasing capital by a sale of shares forcash, the company may issue shares without public subscription and/orwithout offering existing shareholders the right to participate, providedthe following conditions are met:
1. The issuance is approved by a majority of the votes of the subscribed shares whose due installments have been paid; and
2. The Central Bank of Iraq concurs that the sale is for fair value,in view of all the circumstances, and is fair to shareholders notentitled to participate, in view of the benefit to the company as whole.

http://www.isx-iq.net/isxportal/files/1997_Law110_4_4_6_27_56.pdf

Will-it-happen?
03-16-2018, 08:43 PM
Clause 56 no. 4 of the Iraqi Company Registration Law the adjusted law no. 21 for the year 1997

Article 56:
First: In the joint-stock company, the new shares must beplaced for public subscription within 30 days from the date on which thecompany is notified of the Registrarís approval of the increase in thecapital. The subscription shall remain open for a period of not less than30 days and not more than 60 days, which may be renewable once for asimilar period, provided the value of the shares is paid duringsubscription. The increase in the capital is achieved by the number ofshares subscribed and paid up on the closure of the subscription.Otherwise, and in so far as it does not conflict with the nature of theincrease in the capital, the original provisions on subscription shall beapplied on the new shares, including the provisions of Articles 44 and 47of this law.
Second: In the limited liability company, the value of the new sharesmust be paid within 30 days from the issuance of the general assembly'sdecision to increase the capital. The increase is achieved by the numberof shares whose value is paid up at the end of the period.
Third: Every shareholder has the priority to buy shares at the subscription price proportional to the number of the shares he owns. Share holders shall be allowed to exercise this right within a period of 15 days from the date they are invited to do so. The invitation must state the beginning and end of the subscription period and the nominal value of the shares. If some shares are not subscribed after the period stipulated in paragraph First of this Article, the board of directors may place the shares for sale in the Baghdad Stock Exchange market in the manner it deems suitable.
Fourth. In the case of banks increasing capital by a sale of shares forcash, the company may issue shares without public subscription and/orwithout offering existing shareholders the right to participate, providedthe following conditions are met:
1. The issuance is approved by a majority of the votes of the subscribed shares whose due installments have been paid; and
2. The Central Bank of Iraq concurs that the sale is for fair value,in view of all the circumstances, and is fair to shareholders notentitled to participate, in view of the benefit to the company as whole.

http://www.isx-iq.net/isxportal/files/1997_Law110_4_4_6_27_56.pdf

Confusing , as it says there is a limit to the extra shares a person can buy ( directly proportional to what they already hold) yet in the warka news bulletin its without limit

calstar
03-16-2018, 09:57 PM
What happens to the shares we have in our possession? :rolleyes:

Brazileiro
03-16-2018, 10:06 PM
I'm asking how many shares are in the subscription and what the total outstanding shares will be after the subscription. That email goes out sunday. I'm thinking off using 1/3 of my balance as I believe it will help get Warka relisted, they need 250 billion dinar total in capital and supposedly have 105 billtion.

I do wonder if the owner Mr Bunnia is going to buy shares this time...

Next news I wanna see on warka website is Mastercard available again :) Will give us access to our cash until they get the corresponding bank thing worked out.

Brazileiro
03-16-2018, 10:09 PM
What happens to the shares we have in our possession? :rolleyes:you should still have them. this is the same thing warka had to do before they were put into guardianship. whatever they sell now gets added to the current number of outstanding shares. At least that's how I believe it works. Someone can correct me if I'm wrong. They need to hit the magic 250 billion iqd in capital

thebest
03-17-2018, 04:05 PM
The increase in the capital is achieved by the number of shares subscribed and paid up on the closure of the subscription.Otherwise, and in so far as it does not conflict with the nature of the increase in the capital, the original provisions on subscription shall be applied on the new shares, including the provisions of Articles 44 and 47 of this law.

Article 44:
First: The bank shall be responsible for the soundness of the subscription process and undertake the following:
1. Close the subscription at the end of its period, announcing the closure in two daily papers, and also notify the Founders Committee.
2. Keep all the money received from the subscribers and not give any to the founders.
3. Return any surplus funds to the subscribers within 15 days from the distribution of the shares among the subscribers in accordance with Paragraph Second of this article.
Second: If it transpires after the closure of the subscription that the shares offered have been over-subscribed, the shares must be distributed among the subscribers according to the percentage of subscription allotted for each subscriber..

Article 47:
First: Once the company has been established and some shares are still not subscribed for, the board of directors may, after six months from the date of the issuance of the establishment certificate,pursue one of two courses:
1. Sell those shares in the Baghdad Stock Exchange market; or
2. place the shares for public subscription in accordance with the procedures followed during the constituent subscription.
Second: If the shares are not sold in the market or subscribed by the public, the company's nominal capital shall be decreased by the value of the unsold shares.
Third: The company shall be liable for materially misleading assertions or omissions in sales or subscriptions as shall be its responsible directors,employees and agents.

http://www.isx-iq.net/isxportal/files/1997_Law110_4_4_6_27_56.pdf

thebest
03-17-2018, 04:12 PM
In Summary Warka Bank for Investment and Finance on November 28th 2013 has won two verdicts both of which have retained full legal stature:
1-The full rehabilitation of Warka Bank for Investment and Finance holding the Central Bank of Iraq fully liable and responsible ordering the Central Bank of Iraq to efficiently implement and execute the rehabilitation task.

2-Declining dismissing refusing and canceling the request of Central Bank of Iraq for the court to reconsider the bankruptcy case closing this matter ordering the Central Bank of Iraq to lift and cancel the Custodianship appointed by the Central Bank of Iraq for this task.

Kindly note that both verdicts have been attached for your fine consideration where Warka Bank for Investment and Finance is currently waiting for the CBI to execute the verdicts and follow the court decisions accordingly.

Respectfully,

Board of Directors
Warka Bank for Investment and Finance

http://www.warka-bank.com/?0d64a1934dcafd4bf6a2bafeb7

thebest
03-17-2018, 04:13 PM
Kind Note:

There are still four cases against the Central Bank of Iraq for reputable and financial damages raised by the below:
1. Depositors
2. Shareholders
3. Staff
4. Managing Director demanding the full rehabilitation of the bank by the Central bank in accordance with the reasons indicated in all the court cases noting that as the four cases share legal similarities and are interconnected the court has decided to unite all of them into one case reference No. 1/ Services/ 2013 which is yet to finalized and hearings are still taking place.
Thank you for your time and cooperation .

Sincerely.

Board of Directors

Warka Bank for Investment and Finance

http://www.warka-bank.com/?0d64a1934dcafd4bf6a2bafeb4

haggisbasher
03-17-2018, 04:24 PM
Thanks The Best for taking us to were we left off all these years ago, the memories are flooding back now,do you have Al Bunnia final statement were he said he will take this to the courts,

Found a small portion of where al Bunnia says that when the country returns to normal and foreigners are allowed to buy shares no one will be able to get even a hand fill of Warka shares.

thebest
03-17-2018, 04:31 PM
Thanks The Best for taking us to were we left off all these years ago, the memories are flooding back now,do you have Al Bunnia final statement were he said he will take this to the courts.

I know. I have it in somere in my files. I will check it.

haggisbasher
03-17-2018, 08:09 PM
Thanks not been able to trace it, i think it is a very important if my memory serves me right, Ŗtatment Al Bunnia made and what to expect after the litigation was finished still looking for some confidance in this bank..

Brazileiro
03-17-2018, 09:49 PM
after so many years with no news or visible progress, it looks like they may be on the edge of returning with all the news lately. Just hope it comes together in next few weeks or at least before june when CD's are supposed to be available again.

crazyfrank
04-05-2018, 07:10 PM
Greetings,

I have been AFK from all this for the past few Dinar Dreams. I am now just catching up here again, and I see this new 1 IQD Warka stock offer news.

The dead line has passed for that I know, but my question would be as Warka was delisted some time ago, and we all may have had existing Warka stock holdings at that point in time.

So are those still on the books in our good names? because I am seeing info that says all stocks not in our good names would be sold off and refunded back to the bank accounts?

I myself have all holdings already in my good name, so unless they have lost track ( not farfetched ) they should all be on record, would that be a reasonable assertion?

haggisbasher
04-05-2018, 07:56 PM
Hey Crazyfrank, I think all shares not in good name without necessary paper work will be sold and the proceeds' into your account and Warka shares and all others in good name will still be valid, because they held electronically in the ISX depository.

Will-it-happen?
04-19-2018, 01:39 AM
Pity warka nevet gave us option to liquidate other shares. Nor pay us outstanding dividends from other companies.

I coulda invested a whole lot more onto their forthcoming capital increase

thebest
04-19-2018, 12:11 PM
Thanks The Best for taking us to were we left off all these years ago, the memories are flooding back now,do you have Al Bunnia final statement were he said he will take this to the courts,

Found a small portion of where al Bunnia says that when the country returns to normal and foreigners are allowed to buy shares no one will be able to get even a hand fill of Warka shares.

AC Question:
Warka Bank has a program that allows someone to invest in the ISX. Did something occur that triggered Warka bank to do this
for their depositors? Can you tell how this come about that Warka is now offering a way to invest in the ISX through a proxy?
The stock that is purchased is it in the name of an individual or a company? Can you tell our readers what the name of the
company or the individual is?
CEO Al-Bunnia:
As you are aware that foreign investment law is actually into operation in Iraq according to the new constitution. There is also
an approval from the prime minister office to start this law. Unfortunately, no one is working on this law as there is no system
being incorporated for this purpose at isx. In order to overcome this hurdle, and moving along with the law, we managed to
establish a company called showneeze which belongs to the bank were we buy the shares in this name according to the laws
and regulations were buy these shares are bought for our foreign customers were each customer has his own share profile in
quantity and price bought or sold according to each trading session. Once the law is implemented, in the isx, then we will
transfer these chares for our customer in his name with a minimum fee. I believe that this is the time for our customers to buy
the shares that they want were we are giving them the opportunity to make good profits sinceonce the country is back to
normal and foreign people can buy shares , believe me no one will be able to grab a handful of shares as this could be seen in
the neighboring countries. The price of shares are now at its lowest that it will ever get. An example of this would you believe
that price of one pepsi cola bottle equates to 100 shares of pepsi colla Baghdad. No one believes this but this the opportunity

thebest
04-19-2018, 12:21 PM
Thanks The Best for taking us to were we left off all these years ago, the memories are flooding back now,do you have Al Bunnia final statement were he said he will take this to the courts,

Found a small portion of where al Bunnia says that when the country returns to normal and foreigners are allowed to buy shares no one will be able to get even a hand fill of Warka shares.

198

Im looking for the other interview

Will-it-happen?
04-24-2018, 08:04 AM
i just got an email from warka asking me to send in my auth letter with id and passport to buy the shares.

this is despite my already sending in such a request (however id was saved as .pdf file)

so i have resent my stuff again (and asked for an additional 500k too)

reckon will happen v soon , like this month

Brazileiro
04-24-2018, 09:50 AM
i just got an email from warka asking me to send in my auth letter with id and passport to buy the shares.

this is despite my already sending in such a request (however id was saved as .pdf file)

so i have resent my stuff again (and asked for an additional 500k too)

reckon will happen v soon , like this monthThanks for the info! I'm hoping things happen soon (before Ramadan) and we get access to our cash :)

haggisbasher
04-24-2018, 10:45 AM
Thanks for that,i hope Al Bunnia steps up and goes all out for Warka,good read.

Will-it-happen?
04-25-2018, 12:06 AM
anyone tried liquidating other shares and cashing out ?

Brazileiro
04-25-2018, 12:32 AM
Thanks for that,i hope Al Bunnia steps up and goes all out for Warka,good read.I read a Bunnia family member ponied up 45 billion IQD towards capital, and that Warka is using property Warka owns valued around 300 billion iqd as collateral to the CBI. If true then things will be looking good at the GA meeting. I am anxiously waiting for that to happen :)

Will-it-happen?
04-28-2018, 06:31 AM
when is the general meeting and capital increase ? May ? , June ?

haggisbasher
04-28-2018, 08:03 AM
That's what am waiting on,thought we would of heard something by now, couple of weeks and we are into Ramadan and that takes us through to mid June the end of 2Q in the financial calendar and interest pays out into accounts, this would be a good time for Warka to commence trading, whats another 6 weeks after the wait we have had.

Brazileiro
04-28-2018, 10:16 AM
when is the general meeting and capital increase ? May ? , June ?yep we're all waiting for that General Assembly meeting. My thoughts are it will take place just before Ramadan which would make it 8 weeks from the original announcement date of the capital increase. How long after that will we be able to access our money is anyone's guess.

I had hoped Warka would have the Mastercard and/or Corresponding Banks setup before that. I know I could use some of my cash in Warka before the end of May.

Will-it-happen?
05-03-2018, 01:28 PM
my balance still the same, is the general assembly meeting first then the capital increase ?

Brazileiro
05-03-2018, 01:54 PM
my balance still the same, is the general assembly meeting first then the capital increase ?Mine too. I think they will be happening at about the same time. I'd imagine the raising of capital will be part of the General Assembly meeting along with getting the financial satements from 2012 - 2016 certified.

Actual trading of Warka shares on the ISX won't happen until after the meeting and when Warka gets re-listed more than likely.

James
05-03-2018, 02:15 PM
Mine too. I think they will be happening at about the same time. I'd imagine the raising of capital will be part of the General Assembly meeting along with getting the financial satements from 2012 - 2016 certified.

Actual trading of Warka shares on the ISX won't happen until after the meeting and when Warka gets re-listed more than likely.



"Soon" One of the most misused words on all Iraqi Dinar sites.

What is a few more months? Been waiting for years to see their stock trade again. At least Warka is going to be trading again. When that happens if you choose, sell your shares and cut your losses or ride the wave again.

Brazileiro
05-03-2018, 10:08 PM
lol yeah "Soon" has the same meaning here in South America.

Virenque
05-04-2018, 01:13 PM
AC Question:
Warka Bank has a program that allows someone to invest in the ISX. Did something occur that triggered Warka bank to do this
for their depositors? Can you tell how this come about that Warka is now offering a way to invest in the ISX through a proxy?
The stock that is purchased is it in the name of an individual or a company? Can you tell our readers what the name of the
company or the individual is?
CEO Al-Bunnia:
As you are aware that foreign investment law is actually into operation in Iraq according to the new constitution. There is also
an approval from the prime minister office to start this law. Unfortunately, no one is working on this law as there is no system
being incorporated for this purpose at isx. In order to overcome this hurdle, and moving along with the law, we managed to
establish a company called showneeze which belongs to the bank were we buy the shares in this name according to the laws
and regulations were buy these shares are bought for our foreign customers were each customer has his own share profile in
quantity and price bought or sold according to each trading session. Once the law is implemented, in the isx, then we will
transfer these chares for our customer in his name with a minimum fee. I believe that this is the time for our customers to buy
the shares that they want were we are giving them the opportunity to make good profits sinceonce the country is back to
normal and foreign people can buy shares , believe me no one will be able to grab a handful of shares as this could be seen in
the neighboring countries. The price of shares are now at its lowest that it will ever get. An example of this would you believe
that price of one pepsi cola bottle equates to 100 shares of pepsi colla Baghdad. No one believes this but this the opportunity

All fine, only the following kind of sentences bother me since ages: "The price of shares are now at its lowest that it will ever get. An example of this would you believe that price of one pepsi cola bottle equates to 100 shares of pepsi colla Baghdad."

Shares can be split into as small portions as desired. Only the fact that one share costs 1 cent or whatever is by far not an indication whether that share is cheap or not. For that you need a book value of companies equity and divide it by number of all issued shared. However this kind of information we usually lack. And even if we would have such info, the question is whether is that audited and according to what account principles etc. On the other hand, I have no reason to believe the shares of Iraqi companies are on average currently not a bargain.

James
05-24-2018, 12:02 PM
Got an email from Warka today. It was a reply to an email I had sent on April 8th. I had sent a letter in March as well. Guess they still need to sell shares.

Dear Sir,

You are kindly requested to send your authorization letter indicating your signature as well as a clear colored copy of your id or passport preferably both to process your request accordingly.


You are required to submit:

A signed authorization letter indicating your signature clearly as well as a clear colored copy of your id or passport preferably both.

We thank for your fine cooperation.


Respectfully,

Warka Brokerage Office

Warka Bank for Investment and Finance

Will-it-happen?
05-24-2018, 02:37 PM
Got an email from Warka today. It was a reply to an email I had sent on April 8th. I had sent a letter in March as well. Guess they still need to sell shares.

Dear Sir,

You are kindly requested to send your authorization letter indicating your signature as well as a clear colored copy of your id or passport preferably both to process your request accordingly.


You are required to submit:

A signed authorization letter indicating your signature clearly as well as a clear colored copy of your id or passport preferably both.

We thank for your fine cooperation.


Respectfully,

Warka Brokerage Office

Warka Bank for Investment and Finance

I asked for the shares ages ago still no acknowledgement

James
05-24-2018, 07:32 PM
Copy and paste this email into yours and send them the information, what do you have to lose?

crazyfrank
05-24-2018, 10:00 PM
I might agree, if they are just now asking James for this follow up, there is a chance they will yet still honor any back dated requests, can't hurt to try aye?


Got an email from Warka today

James, was this message received from the 3044 address?

James
05-25-2018, 10:38 AM
Yes it was.


3044 <3044@warka-bank-iq.com>
Yesterday, 5:08 AM

crazyfrank
05-25-2018, 01:57 PM
ok thanks James, we can see something between the lines with that then. As its either there is a horrific lag delay between the time peeps send off mail to the bank and get a return reply from the bank, inherent the e-mail servers themselves ( not completely out of the question ), or......... its apparent they are indeed working this week? Even though the Ramadan hootenanny is in full swing this week.

If that is the case, its something in itself to take notice of, as its highly unusual. I have always assumed all the banks, not just Warka, and the ISX shut down all such operations during this shindig of Ramadan aye?

Brazileiro
05-25-2018, 02:44 PM
If that is the case, its something in itself to take notice of, as its highly unusual. I have always assumed all the banks, not just Warka, and the ISX shut down all such operations during this shindig of Ramadan aye?Ramadan is 1 month long so everyone still works,,,just not as much gets done :) . That was my experience when in Iraq lol

haggisbasher
05-25-2018, 02:54 PM
Got a email yesterday from 3044 with a attachment of my existing shares i hold in my good name, did not ask for update,they just sent it,thought it was my Warka share offer confirmation,oh wellstill waiting.lol

crazyfrank
05-25-2018, 03:56 PM
Haggis,

approximately how long ago did you submit the request for your holdings in your good name confirmation? and did it look fairly correct to your knowledge?

haggisbasher
05-25-2018, 04:55 PM
Thats the thing Frank i did not request they just sent the update, as for them being correct tithe totsls are the same as previous totals,

crazyfrank
05-25-2018, 07:20 PM
Very odd response there........... so to be clear you did not specifically request a holdings report? and it arrived anyway, that's odd but in a way its a very good concept.

It would appear they are reviewing a great many such requests and a decision was made to just issue a statement out to all whom make any such current queries. I have to say that's a good move on their end to give confidence the holdings remain intact.

I must say your totals should not be the same today as from long ago, depending on when you last saw their report versions. There have been a few paid up and "free" shares awarded over time, you may not have asked for the paid up type shares, but there have been "free" shares that have not required a formal request be submitted. I have seen the numbers have doubled in Baghdad soft drinks holdings. Most others have shown a minor increase, but none lowered, with a very few stagnant numbers, and that has been found to be 1 or 2 of those holdings have either dissolved or de-listed.

haggisbasher
05-27-2018, 01:28 PM
Warka Bank account compound interest is due this coming week,could never work out why we never get the correct percentage as quoted on their web site fir interest rates,maybe different this time round.????????

Brazileiro
05-27-2018, 02:07 PM
Warka Bank account compound interest is due this coming week,could never work out why we never get the correct percentage as quoted on their web site fir interest rates,maybe different this time round.????????Interest isn't paid until the end of June correct?

The last couple of years I've only received around 2.5% on my IQD cash account for the year. Never did get any answer from anyone at Warka as to why that rate and not the advertised rate.

I'm interested in seeing if CD's will be available again in June as I was told, and what interest rate they will have. But no idea if anything can or will happen before the Genreal Assembly meeting, whenever that will take place.

crazyfrank
05-27-2018, 02:43 PM
this is the current interest rates, as posted on Warkas web site......it has changed over time, as for example they no longer offer CD's at 20%, when this all first began an option.

Interest Paid Annually on Savings Accounts

IQD savings accounts 5% per year
USD savings accounts 2% per year


Certificate of Deposits (IQD)


6 months CD 5.5%
1 year CD 7%


http://www.warka-bank.com/?427dacca3edd8203f5aceefbb96c6d2efc545ea6


They post interest deposits into IQD accounts every six months, first half 2.75% at the end of June, ( plus or minus a day or so ), then 2nd half another 2.75% at the end of the year.

Its difficult to track this beyond 6 months ago, because at the moment you can only retrieve a bank statement for the last 40 days. it would require you to log in every 3 months or so, to capture a statement that encompasses those time frames.

Brazileiro
05-27-2018, 02:51 PM
this is the current interest rates, as posted on Warkas web site......it has changed over time, as for example they no longer offer CD's at 20%, when this all first began an option.

Interest Paid Annually on Savings Accounts

IQD savings accounts 5% per year
USD savings accounts 2% per year


Certificate of Deposits (IQD)


6 months CD 5.5%
1 year CD 7%


http://www.warka-bank.com/?427dacca3edd8203f5aceefbb96c6d2efc545ea6

They post interest deposits into accounts every six months, first half at the end of June, ( plus or minus a day or so ), then 2nd half at the end of the year.yeah those are the rates from their website but not the rates I actually got on my savings the last couple of years.

crazyfrank
05-27-2018, 02:59 PM
They post interest deposits into IQD accounts every six months, first half 2.75% at the end of June, ( plus or minus a day or so ), then 2nd half another 2.75% at the end of the year.

Its difficult to track this beyond 6 months ago, because at the moment you can only retrieve a bank statement for the last 40 days. it would require you to log in every 3 months or so, to capture a statement that encompasses those time frames.

crazyfrank
05-27-2018, 03:26 PM
Additionally it has just occurred to me, that after looking over their schedule of fees, I no longer see any fees for a pass word re-newel? I vaguely recall long ago having to formally request a password reset or re-newel, and there was a fee involved? it was a minor amount, but there was a fee of some sort, yes?

I don't see that anymore, so that's a good thing aye?

Brazileiro
05-27-2018, 03:27 PM
CF, I have print screens of my account balances for end june and end dec of every year I have had my accounts. In 2016 and 2017 I got 1.25% at end june and end dec. Not the 2.5% the Warka advertised rate of 5% year should have given. Prior to 2016 almost all my cash was in the Warka CD's

Brazileiro
05-27-2018, 03:28 PM
Additionally it has just occurred to me, that after looking over their schedule of fees, I no longer see any fees for a pass word re-newel? I vaguely recall long ago having to formally request a password reset or re-newel, and there was a fee involved? it was a minor amount, but there was a fee of some sort, yes?

I don't see that anymore, so that's a good thing aye?the renewal fee used to be $15,000 iqd if I remember right. I haven't been charged a renewal fee in a long time.

crazyfrank
05-27-2018, 03:43 PM
I got 1.25% at end june and end dec.

If that is correct, then yes, something is wrong. I might offer that the math on that 1.25% times two, equals 5.5%, which indicates what one might see in the US Dollar account side, so unless you are looking at the US Dollar account data, then yes there is something wrong.

crazyfrank
05-27-2018, 03:48 PM
I might offer that the math on that 1.25% times two, equals 5.5%.

my math is bad 1.25% times 2 is not 5.5%, its 2.5%, so yes again something is wrong hee hee

Brazileiro
05-27-2018, 03:54 PM
2.5% per year on IQD and 1% on USD in 2016 and 2017. Half of the Warka advertised rates. I remember reading here that others got around the same %'s but I don't remember anyone saying they got the advertised rates.

I emailed many times asking about the rate and never got a response from Mr Issa or anyone at Warka.

Brazileiro
05-27-2018, 03:58 PM
my math is bad 1.25% times 2 is not 5.5%, its 2.5%, so yes again something is wrong hee heelol thought you might want to check your calculator :)

crazyfrank
05-27-2018, 04:00 PM
sure ok, sorry about my math before here. The next step then is to wait now, as in 4 weeks, something is due to post. Not all may be willing, or even able to share or see what happens, but no doubt we shall be watching to see what those numbers are and go from there.

Will-it-happen?
05-31-2018, 11:18 AM
Got my online access renewed in 72 hours. But no response about capital increase

crazyfrank
05-31-2018, 11:56 AM
renewed in 72 hours

ok so you have gotten a response 3 days after you made your request, that's quite good. So again we see Warka is alive and responding.

to follow up on all this now, in your case......... can you expand a bit on how this occurred?

1. did you recently change your e-mail provider/server, to then send in your most recent request 3 days ago?

2. did the response come from the 3044 address?

Will-it-happen?
05-31-2018, 01:14 PM
ok so you have gotten a response 3 days after you made your request, that's quite good. So again we see Warka is alive and responding.

to follow up on all this now, in your case......... can you expand a bit on how this occurred?

1. did you recently change your e-mail provider/server, to then send in your most recent request 3 days ago?

2. did the response come from the 3044 address?


Used same email as from day one

Came trom e-bank.ms

Brazileiro
05-31-2018, 01:30 PM
Got my online access renewed in 72 hours. But no response about capital increaseLast I heard was the capital increase/share subscription would happen 8-12 weeks AFTER the General Assembly meeting. No word yet when that meeting will take place.

crazyfrank
05-31-2018, 03:25 PM
Used same email as from day one

Ok so from this info, without prying for more personal data, we assume your heritage e-mail server is recognized by their server, but this is a case by case situation


Came trom e-bank.ms

but this shows a fairly new e-mail identity is in play, as there is a similar older address e-bank@warka-bank-iq.com.

The difference being the ".ms" in the prefix, I am going to go out on a limb and say its "member services" or could be someone's initials added in to redirect such mail to the current employee overseeing this function aye?

Will-it-happen?
05-31-2018, 05:56 PM
Ok so from this info, without prying for more personal data, we assume your heritage e-mail server is recognized by their server, but this is a case by case situation



but this shows a fairly new e-mail identity is in play, as there is a similar older address e-bank@warka-bank-iq.com.

The difference being the ".ms" in the prefix, I am going to go out on a limb and say its "member services" or could be someone's initials added in to redirect such mail to the current employee overseeing this function aye?



Not much of a techie

All i can i say is that they cherry pick what emails to respond to

crazyfrank
06-28-2018, 12:38 PM
ok so its been a slow week for news, more so than usual but we watch and wait still.

Now we do have something firm to watch for here, among all the guru predictions and obscure speculation, we finally have something firm to watch for this weekend, as Warka is due to post interest at the end of this month, which will be in 3 days from now. The banks are closed on Fridays and Saturdays, so on, or about, Sunday July 1st we should see things post.

This is on the Warka Web site, posted schedule of fees as............


Interest Paid Annually on Savings Accounts

IQD savings accounts 5% per year
USD savings accounts 2% per year



So at the end of June they should post semi annual interest (50%) added in all accounts, we should be seeing a 2.5% increase in IQD, and 1% increase in USD.

bultn
06-29-2018, 04:29 AM
Warka interest received: 1.25% on IQD, 0.51% on USD.

Will-it-happen?
06-29-2018, 12:55 PM
Warka interest received: 1.25% on IQD, 0.51% on USD.


i got mine too

Will-it-happen?
08-26-2018, 02:20 PM
What ever happened to the capital increase ?

crazyfrank
08-26-2018, 05:06 PM
what we discovered through some correspondence with Mr I was that yes a capitol increase was posted to our accounts, but.............. he confirmed it was not the percentages as advertised off the web site.

Interest Paid Annually on Savings Accounts


IQD savings accounts 5% per year
USD savings accounts 2% per year

He acknowledged the web site data posted was obsolete, and reported it would be corrected in the upcoming updated web site ( never happened yet ).

bottom line..... Warka semi annual interest actually found received: 1.25% on IQD, 0.51% on USD.

calstar
08-27-2018, 12:44 AM
crazyfrank


Can you help me out. I been trying and trying to get my password for almost one year. Who is the contact at Warka Bank.

Calstar

mcdan
08-27-2018, 04:47 AM
My interest was reduced .37 % This looks like possible FATC reduction. I have asked but no response to my question.

Brazileiro
08-27-2018, 10:25 AM
crazyfrank


Can you help me out. I been trying and trying to get my password for almost one year. Who is the contact at Warka Bank.

CalstarCalstar, I use this email addy for Mr I - ifrd@warka-bank-iq.com - I also send only sunday - thursday around 9:30-10 am baghdad time,,,friday/saturdays warka is closed,,,

Brazileiro
08-27-2018, 10:32 AM
What ever happened to the capital increase ?no news about the capital increase to 250b iqd or the general assembly meeting,,,about normal communications from iraq lol

crazyfrank
08-27-2018, 02:08 PM
crazyfrank


Can you help me out. I been trying and trying to get my password for almost one year. Who is the contact at Warka Bank

Calstar buddie,

I have seen your posts on this before, and hopefully you have seen Warka is responding to other people here. That path is indeed open, and without knowing your particular e-mail proficiency/skills you should step back and look again at what you are dealing with.



there are e-mail servers/domains that are not recognized by their system at Warka, possibly because being either obsolete or unsecure protocols in todays environments. So you need to evaluate what you are using to send mail to them.
There is a chance that you unknowingly have them "blocked" in your e-mail settings
If you suspect your particular e-mail provider is in that obsolete category, then I would suggest you create a new e-mail identity using "G-mail" or something as current. As Warka has been seen to respond to G-mail
You may have seen reports here from a few peeps that they were like you and had reported Warka was not responding, until they finally discovered that Warka mail had been going into their "spam" or "junk" mail folders all the time. Hopefully you are familiar with that set of folders in your current e-mail desktop format, and look to see if indeed you have mail from them there all this time.


That's my best suggestion, and it all depends on your own proficiency at e-mail management and creation.

calstar
08-27-2018, 06:15 PM
Calstar, I use this email addy for Mr I - ifrd@warka-bank-iq.com - I also send only sunday - thursday around 9:30-10 am baghdad time,,,friday/saturdays warka is closed,,,
Thank you I will try again.

calstar
08-27-2018, 06:18 PM
Calstar buddie,

I have seen your posts on this before, and hopefully you have seen Warka is responding to other people here. That path is indeed open, and without knowing your particular e-mail proficiency/skills you should step back and look again at what you are dealing with.



there are e-mail servers/domains that are not recognized by their system at Warka, possibly because being either obsolete or unsecure protocols in todays environments. So you need to evaluate what you are using to send mail to them.
There is a chance that you unknowingly have them "blocked" in your e-mail settings
If you suspect your particular e-mail provider is in that obsolete category, then I would suggest you create a new e-mail identity using "G-mail" or something as current. As Warka has been seen to respond to G-mail
You may have seen reports here from a few peeps that they were like you and had reported Warka was not responding, until they finally discovered that Warka mail had been going into their "spam" or "junk" mail folders all the time. Hopefully you are familiar with that set of folders in your current e-mail desktop format, and look to see if indeed you have mail from them there all this time.


That's my best suggestion, and it all depends on your own proficiency at e-mail management and creation.

Thank you, I have a gmail account I will try them.

calstar
08-27-2018, 06:23 PM
Guys by the way I have transferred all my stock to Al Kamal Securities. Since Going with them I had no problems with communication.

crazyfrank
08-27-2018, 10:17 PM
Thank you, I have a gmail account I will try them.

ok good luck, and please do let us know how it works out for you here

What If....
08-30-2018, 09:01 PM
Has anyone heard about the GA meeting.

haggisbasher
09-11-2018, 10:10 AM
I don't see any movement in Warka bank until there is a Iraqi gov. installed & seated to get from CBI & what rehab is given, they will want to know where Milki is in the gov.

Also...I hope they reached the minimum trading bond with the IPO share option.

Will-it-happen?
11-15-2018, 05:07 PM
That's 8 months since they posted that and still nothing

James
02-24-2019, 05:15 PM
Crickets....... approaching 1 year from their last webpage post...

James
02-24-2019, 05:32 PM
Did anyone send their information to Warka to purchase shares and did you get a reply back or not? Thanks,

Will-it-happen?
02-24-2019, 05:53 PM
I got a reply in March 2018.sa8d they was working on it

James
02-26-2019, 09:51 PM
The reason I asked was a friend sent their info (USPS) to Iraq and just now got it returned. An 11 month journey to Iraq and back and unopened. I told them it probably made it to Iraq and sat on a shelf until someone stamped "return to sender". At least they got back all their documents. I know I told them to send it UPS or Fed Ex. Oh well...

BusterBrown
02-27-2019, 02:56 AM
Yo! Can anybody tell me if Al Warka is still open? Just sent an email to put more funds in my account, can't even get into my account right now. Been a while since I have been on this forum.

James
02-27-2019, 08:15 AM
Try "Mohammad Issa" <ifrd@warka-bank-iq.com>

What If....
02-27-2019, 06:41 PM
I sent mine about this time last year. They said they got it but was over the time limit. They also said they would be able to purchase shares 3 months after the meeting.

Haven't heard a word since. They get my emails but don't reply. Oh well. Luckily I dont have over 10k there.