Al-Warkaa Bank buys Iraqi bonds with U.S. investor support

[Jen39503]

Al-Warkaa Bank offers US customers a bank account that they can open with US dollars and then buy the currency at the very attractive Baghdad exchange rate of 1460 dinar to the dollar. The exchange rate at the National bank of Kuwait is 1330 dinar to the dollar www.nbk.com/NBK/TopBar/Rates/rates.htm and it is a lot more expensive at other dinar dealers due to shipping cost of the paper currency. The currency itself is expected to start trading after the Iraqi elections in January. The Central Bank of Iraq will be eager to see investment in the currency which was worth 33 cents US before the war and is now at less that a tenth of a penny.


http://www.emediawire.com/releases/2004/10/emw166778.htm

What cha think?

[mb55tech]

but i wish it were sooner ya know!! that's cool though, very good news to wake up to!! :D

[neptune]

Al-Warkaa Bank offers US customers a bank account that they can open with US dollars and then buy the currency at the very attractive Baghdad exchange rate of 1460 dinar to the dollar. The exchange rate at the National bank of Kuwait is 1330 dinar to the dollar www.nbk.com/NBK/TopBar/Rates/rates.htm and it is a lot more expensive at other dinar dealers due to shipping cost of the paper currency. The currency itself is expected to start trading after the Iraqi elections in January. The Central Bank of Iraq will be eager to see investment in the currency which was worth 33 cents US before the war and is now at less that a tenth of a penny.


http://www.emediawire.com/releases/2004/10/emw166778.htm

What cha think?

However, it does stand to reason that the ID should open PRIOR to the elections in Iraq, not after.

[Jerry]

Al-Warkaa Bank offers US customers a bank account that they can open with US dollars and then buy the currency at the very attractive Baghdad exchange rate of 1460 dinar to the dollar. The exchange rate at the National bank of Kuwait is 1330 dinar to the dollar www.nbk.com/NBK/TopBar/Rates/rates.htm and it is a lot more expensive at other dinar dealers due to shipping cost of the paper currency. The currency itself is expected to start trading after the Iraqi elections in January. The Central Bank of Iraq will be eager to see investment in the currency which was worth 33 cents US before the war and is now at less that a tenth of a penny.


http://www.emediawire.com/releases/2004/10/emw166778.htm

What cha think?

What I think is that this news comes from Day Star Trading. A company which releases this kind of news and be in the business of selling something that DIRECTLY affects the sales of that buisness has to account for credibility. Theres no links in the article to other news sources that report this. The article says "We are now able to purchase stocks" which anyone who is in contact with Warka knows this is not so. As far as Warka purchasing the most bonds... we'll have to ask R that.

My guess is that Someone from that company read our little forum and decided to come out with this press release based on what they see on this forum. The past few days people have talked about NBK vs Warka currency wise, they also talked about speculation of a January time frame for release on the world market, We have provided links to "LEGITIMATE" press releases concerning the ISX, and most recently covered "Time Line Exchange Rates".

All and all the article is a pretty good assesment.... thanks to ALL OF US WHO POST HERE. It's infact, a summary of what WE all came up with.

Just my 2 cents

Jerry

[Dinar Bull]

Correct Assesment Jerry.
This is a service of PRMEDIA or PRWEB.
Anyone can write a "press release" and have it posted on the web. Other Dinar dealers have done the same in the past.

It would be interesting to see what Warka Bank reps have to say about the info attributed to them.

Maybe Bill got a scoop? Maybe just his opinion.

[Jen39503]

well durn, and here i found myself getting all excited.

[Jerry]

Still just goes to show that WE are as close as it gets to knowing whats REALLY going on. We should be flattered... :drunk:

[krachon]

Telling it like it is. Good job jerry, keep it up. :wave:

[neptune]

Still just goes to show that WE are as close as it gets to knowing whats REALLY going on. We should be flattered... :drunk:
Thanks Jerry!
As usual, you make a good point! :rolleyes:

[JJLL]

GO RANADDA!!!

"Al-Warkaa Bank this weekend purchased the largest amount of the new Iraqi bonds yet on 10 October at an auction held by the Central Bank of Iraq.

The relatively small bank has been surpassing even the largest banks, such as Dar Es Salaam and Credit Bank of Iraq, due to US investor support, it was reported.

New equipment needed to upgrade the Iraqi stock market was delivered in late September. The market has climbed nearly 400 per cent since opening and now has over 30 stocks trading two days a week, according to a statement from the company.

Interested investors can watch bond trading at the Central Bank of Iraq"



http://www.iraqprocurement.com/docs/new499.htm :happy64:

[THANOS]

ALSO F.Y.I . :D HSBC bank here in the state IS accepting the Iraqi Dinar at the current exchange rate I thought you all would like to know that

[THANOS]

ALSO F.Y.I . :D HSBC bank here in the state IS accepting the Iraqi Dinar at the current exchange rate I thought you all would like to know that

Check with the HSBC bank branches here in florida
Pinecrest
and Miami beach :shhh: :happy64:

[Aloha Traders]

All those funds from "US" are fueling the purchase power. "The relatively small bank has been surpassing even the largest banks"

Perhaps the other larger banks will take notice of the foreign demand and in return apply presure to the politicians to get the markets/IQD "OPEN"

What about putting that NEW stock ex equipment to work for GLOBAL TRADING.....? :D

Aloha...

[PennStateMtnMan]

Check with the HSBC bank branches here in florida
Pinecrest
and Miami beach :shhh: :happy64:

Oh Thanos, that is really good news. By any chance, would you be able to find out how much they are willing to exchange? Every bank I have contacted said they would only be able to exchange ten thousand or under. When I talk to them, I always talk generally and not specifically about the Dinar.

[fms]

ALSO F.Y.I . :D HSBC bank here in the state IS accepting the Iraqi Dinar at the current exchange rate I thought you all would like to know that
Do they buy only or sell as well?

[fms]

Check with the HSBC bank branches here in florida
Pinecrest
and Miami beach :shhh: :happy64:
Could you please provide the contact numbers for the HSBC bank in Florida?

[logan]

ALSO F.Y.I . :D HSBC bank here in the state IS accepting the Iraqi Dinar at the current exchange rate I thought you all would like to know that

well my friend i think that the person that you talked to at the bank was new or just had to many people ask that so they thought they would f-ck with you because i just called up two times and talked to 2 people and they said they are not taking the dinars or selling them right now and do not know as of right now when they would so sorry bro. :no:

[mb55tech]

well my friend i think that the person that you talked to at the bank was new or just had to many people ask that so they thought they would f-ck with you because i just called up two times and talked to 2 people and they said they are not taking the dinars or selling them right now and do not know as of right now when they would so sorry bro. :no:


i think i'm going to have to agree with what THANOS said earlier about the HSBC taking in the dinars because they have a spot on this web site that sells dinars. ATTENTION: i'm not promoting this site, i just don't think that a site would reference a bank for locations on their web site unless the bank did have a reason to.

http://www.iraqi-dinar.com/news.php


just a thought people. :wave:

[usajmg93f]

Nice Find .....looks similiar to the Article posted earlier, but it is a different source that produced it. :D

[THANOS]

well my friend i think that the person that you talked to at the bank was new or just had to many people ask that so they thought they would f-ck with you because i just called up two times and talked to 2 people and they said they are not taking the dinars or selling them right now and do not know as of right now when they would so sorry bro. :no:
you might be right but i have other cops telling me that HSBC pinecrest branch accepts , did you call there?

[Marilyn]

Great Article... ABOUT ALL OF US!

Shows we're right on track and few steps ahead of the pack! :happy64:

Interesting note* It's the US Investors buying the BONDS and leading the way !

[lasagnabro]

"Al-Warkaa Bank bought the largest amount of the new Iraqi bonds yet on October 10 at the Central Bank of Iraq auction. The relatively small bank is surpassing even the largest banks, such as Dar Es Salaam and Credit Bank of Iraq, due to U.S. investor support, the Bank says.

New equipment needed to upgrade the Iraqi stock market was delivered in late September. The market has climbed nearly 400 percent since opening and now has over thirty stocks trading two days a week, according to a statement from the company."


http://www.portaliraq.com/shownews.php?id=558

[usajmg93f]

It is amazing to think that this website and it's supporters are the biggest reason why one of the smallest Private Banks in Iraq are doing more business than it's larger State Counterparts......I wonder if 20 years down the road Al Warkaa will remember those of us who started them off in the direction to being one of the most powerful banks in the Middle East???Maybe some sort of Elite Club for early Account Members???Wishful Thinking I guess?? :D

[Marilyn]

That's US ! :happy64:

[logan]

the # that i called was the 1800 # and the 2 people said that they are not taking it right now. soo i dont know why every one else is having people tell them that they are taking it. butt who knows the two people i talked to mite have been jack-ss's. :confused:

[Marilyn]

Go IIF Members! You Rock ! :happy64:

[BRYAN]

That would be interesting ... I think that We picked Warka because they were the quickest and the first few to respond to our requests .. This is amazing information and very encouraging to hear this has occured . We assisted in the growth and showed confidence in this bank and R that they will be able to meet our needs .... they are now implementing the means to do this ...
We knew Warka is a bank as well as a stock broker in one location . This I like ..
The more funds deposited in this bank the better it gets .. :lmao:

[Marilyn]

I merged three threads on this article into one...
The posts appear in the order they were entered.
Thanks everyone!