Warka Bank Discussion

[bkewl]

THIS WEBSITE HAS NO RELATIONSHIP WHATSOEVER WITH "WARKA BANK". You assume all risk of harm should you do business with "Warka Bank".

WE ADVISE YOU NOT TO SHARE YOUR ACCOUNT NUMBER WITH ANYONE OVER THIS SYSTEM - SOMEONE COULD USE YOUR INFO TO GET YOUR MONEY!

To open an account at Warka Bank you need:

1) Copy of Passport or Drivers License
2) A letter, as follows, authorizing Warka Bank to exchange USD to IQD on your behalf

I (insert your name) authorize Al-Warka Investment Bank to draw from my Dollar account ( current or saving ) in the above Bank and exchange the Dollar into Iraqi Dinar according to price fixed by the Central Bank of Iraq at that day , and then deposit it in my Iraqi Dinar account at the said bank

(Your Name)
(Your Address)
(Your Signature)

Here's how I sent the above to Warka Bank.

1) Scanned my Drivers Licence and saved as a jpg
2) Typed the above letter, printed it, signed it, scanned and saved as a jpg
3) Created and sent an email to: check bank's new website for new account contact person. http://www.warkainvestmentbank.com/contact_us.htm

Insert File - Drivers License jpg
Insert File - Autorization Letter jpg
Body of email contained the following:
Dear XXXXXX (Account Representative's name),

Please open a USD and IQD Savings Account with Warka Bank on my behalf. Attached are my Drivers License and Authorization Letter.

Thank You,



Note: There are many alternate methods for creating, scanning, and attaching documents to an email. The most popular are jpg and pdf.

If you follow the above you will not have any problems opening an account. Be patient as Warka Bank is swamped with requests. It took 4 calendar days for my account to be opened.

Current Account - no interest is applied to account
Savings Account - interest is applied

Both accounts can be used to purchase Iraqi Stocks when opened to foreign investors.

[Part-timer]

I (insert your name) authorize Al-Warka Investment Bank to draw from my Dollar account ( current or saving ) in the above Bank and exchange the Dollar into Iraqi Dinar according to price fixed by the Central Bank of Iraq at that day , and then deposit it in my Iraqi Dinar account at the said bank

bkewl,

did you specify in the authorization letter above, current or savings as you did in your email to her?

[bkewl]

Nope - did it exactly as I posted.

[Part-timer]

Thanks bkewl,

I appreciate you posting this info...really great. going to try and send mine today. got to go buy a scanner this morning though, my old one not compatible with updated computer. congrats by the way on getting accounts set up. looking forward to posting when my is opened.

[Marilyn]

Got my Warka Account numbers today !!!!

[Part-timer]

Congratulations to you too Marilyn. :happy26: :) :happy64: :lmao:
let us know how the wire transfer goes...

[BRYAN]

I'm glad to report that the account from Warka Bank is now active . I was told that R was tied up and her E-mail was giving her some problems . I m glad it's open and I have to wire from my bank ( Commerce Bank) Proir to 1:30 est To the U.S dollar account now with Warka ! This I'm told could take up to 4 days to complete . I will start another account in "savings" next week . :happy64: :huge: :huge: :happy64:

[BRYAN]

Got my Warka Account numbers today !!!!
Got mine today too!!!!!!

[ROB5891]

this is the first time i've heard of this warka bank. what are the adantages? how does it help to sign up? how many dinars do they give you to the dollar?

[toemaas]

Good job Bryan :)

[Marilyn]

They exchange at the cbi rate of 1460.

[Marilyn]

Sent a wire transfer to Warka today, via Jordan.
Easy as 1,2,3...

[quattro]

Hi Marilyn,

how did you wire it through jordan?

[BRYAN]

Sent a wire transfer to Warka today, via Jordan.
Easy as 1,2,3...
Hey Marilyn , Were you able to look at your account on line to verify it arrived into the account that was given to you ? And where did you see this ?? Did it go thru in 1 day ??? How did they confirmed that it was recieved , like some type of deposit slip or something ???? Please let me know before I wire any funds . Thanks Marilyn :wave:

[Marilyn]

I wired 500 usd to my usd account, via one of their intermediary banks located in Jordan. There were several listed in the first email. Some are in unfriendly countries, I chose Jordan from the list. It will take a few days.

I received confirmation from my sending bank that the data was good, and the funds were sent. Sent an email to R, letting her know it's coming and giving her instructions on what I want done with it; conversion to dinar and deposited into the dinar account.

Just waiting to hear back from R with a confirmation of receipt and the balance, once converted, in my dinar account. (Should be about 3/4 mil)

[BRYAN]

there closed now its 8:23 pm hopfully tonite around 10 pm your time you should get some reply i think they would open at 8am
Tony do you have family in Jorden also ???

[MMH]

Hi Guys

Thank you Tony for welcome me on board


FYI

Thank you for your e-mail dated July 27, 2004.
Any foreign investor from anywhere in the world can open these type of
accounts and deal with ISX through our bank .
I can transfer all the amount to Dinar if like or you can choose how much
to transfer.
The current and saving accounts have the same facilities, and you can open
any type of account ,just choose and let me know .
Please be informed that we will credit your deposit saving account an
interest rate of 3% per year for the dollar account and 5% per year for the
Iraqi Dinar account the interest will calculated on the lowest balance of
the said month .
Best regards .


R B.
:wave:

[minigirl]

Please be informed that we will credit your deposit saving account an
interest rate of 3% per year for the dollar account and 5% per year for the
Iraqi Dinar account the interest will calculated on the lowest balance of
the said month .
Best regards .

R B
:wave:
Sooo you earn interest in IQD AND USD? I don't get it.... help. You're not actually maintaining any real balance in the USD account right? I'm a little confuzzled. :confused:

[bkewl]

You open 2 accounts with Warka. One is in USD and the other is in IQD. You then wire transfer from your bank account in the States (USD) to the Warka USD account you opened.

Let's say you wired $1,000 USD. Your Warka USD account now has $1,000 USD in it.

You then advise Warka bank to transfer $500USD to your IQD account. Assuming $1USD = 1460IQD, Your Warka USD account now has $500USD and your Warka IQD has 730,000IQD (less expenses)

Hope that helps

[Copedawg]

does this place havea web site?

[minigirl]

You open 2 accounts with Warka. One is in USD and the other is in IQD. You then wire transfer from your bank account in the States (USD) to the Warka USD account you opened.

Let's say you wired $1,000 USD. Your Warka USD account now has $1,000 USD in it.

You then advise Warka bank to transfer $500USD to your IQD account. Assuming $1USD = 1460IQD, Your Warka USD account now has $500USD and your Warka IQD has 730,000IQD (less expenses)

Hope that helps

Yes, thanks B - I wonder if there is a minimum that has to be kept in the USD account?

[BRYAN]

does this place havea web site?
www.ALWARKABANK.COM

[raptor78]

Yet another success in setting up the accout with Al-Warka... I received my two account numbers today, total wait time was about 36 hours... :happy64:

I have spoken with Miss R several times, as I am in the same time zone as she is... Recommendation to those trying to send and having problems sending, make sure you send your email around 1a-2am Central time in the states... That will be roughly 9am-10am in Iraq and she should have cleared her email from the night before...

For those still concerned about the hotmail.com address... I have spoken with several individuals at the bank and all have pointed me back to this same hotmail.com address...

So, first half is done, now time to fund it... For those who might be in the region, I am also checking with NBK and a couple other banks and the possibility of wiring physical dinar to the Iraqi Dinar account... Have not been able to get a solid, confirmed answer on this subject...

[Monty]

I have spoken with Miss R several times, as I am in the same time zone as she is... Recommendation to those trying to send and having problems sending, make sure you send your email around 1a-2am Central time in the states... That will be roughly 9am-10am in Iraq and she should have cleared her email from the night before...

Hey raptor, which number you tried to call her. Thanks.

[malika]

Hi Minigirl,

I wrote Miss R so I could get the answer to a few of my qestions. I wanted to know the min to open accounts, as I want to risk the least amount of money to get my foot in the door. When things are more operational, transferring money into an account already set up should not be a problem. On the other hand, if this falls through, I would have only invested about $150 to start with. I think the goal right now is to simply get an account and have enough in them to sustain it until you feel safer to invest more. My biggest concern is not having access to the accounts. Perhaps this info will help you as well:

"The minimum amount of Dollars is 100$ and the minimum amount of Iraqi Dinar
is 1000 ID .The only why to access your account is through e-mail ( through me ) .
We don’t have ATM / bank machine cards , but we are working to .
Once your goodself send the informations I need , the accounts will be open"

[raptor78]

All, I received notice from Al Warka today with more specific instructions on the bank wire... See below...

Dear
Thank you for your e-mail dated August 1, 2004.

The form of the transaction will be like this :
Beneficiary name : Warka Investment Bank
Beneficiary account no : 0019583140201 ( our account no in Housing Bank
).
To be paid for : your name
A/C No. : your Dollar account no .
Warka Investment Bank-main branch

The Swift Code of Warka Investment Bank is : WAIVIQBA

I’m sorry you can’t send your Iraqi Dinars via electronic form
because we don’t use this technique now maybe in future we will . Actually I
don’t know in which way you can, maybe mail but I like to inform you if you
mail it I’ want be responsible for any thing happen to the money my
responsibility starts when I receive the money and I would like to inform
you any forged currency will be destroy .

Best regards .


Miss R

For those interested, just thought this info would help clarify the wire process... Also, I have had the SWIFT code validated by my bank as correct... They are researching how old the SWIFT code is.. In other words, did this pop up a month ago, or is it 10+ years old...

Keep you all posted... :wave:

[BRYAN]

All, I received notice from Al Warka today with more specific instructions on the bank wire... See below...

Dear
Thank you for your e-mail dated August 1, 2004.

The form of the transaction will be like this :
Beneficiary name : Warka Investment Bank
Beneficiary account no : 0019583140201 ( our account no in Housing Bank
).
To be paid for : your name
A/C No. : your Dollar account no .
Warka Investment Bank-main branch

The Swift Code of Warka Investment Bank is : WAIVIQBA

I’m sorry you can’t send your Iraqi Dinars via electronic form
because we don’t use this technique now maybe in future we will . Actually I
don’t know in which way you can, maybe mail but I like to inform you if you
mail it I’ want be responsible for any thing happen to the money my
responsibility starts when I receive the money and I would like to inform
you any forged currency will be destroy .

Best regards .


Miss R

For those interested, just thought this info would help clarify the wire process... Also, I have had the SWIFT code validated by my bank as correct... They are researching how old the SWIFT code is.. In other words, did this pop up a month ago, or is it 10+ years old...

Keep you all posted... :wave:Is your account # for warka have 4 digits ???

[BRYAN]

Raptor are you able to go to Warka in person ? Do you speak arabic ???

[Monty]

Just waiting to hear back from R with a confirmation of receipt and the balance, once converted, in my dinar account. (Should be about 3/4 mil)

Did she send you any confirmation? How did it go?

[joec]

Hi Minigirl,

I wrote Miss R so I could get the answer to a few of my qestions. I wanted to know the min to open accounts, as I want to risk the least amount of money to get my foot in the door. When things are more operational, transferring money into an account already set up should not be a problem. On the other hand, if this falls through, I would have only invested about $150 to start with. I think the goal right now is to simply get an account and have enough in them to sustain it until you feel safer to invest more. My biggest concern is not having access to the accounts. Perhaps this info will help you as well:

"The minimum amount of Dollars is 100$ and the minimum amount of Iraqi Dinar
is 1000 ID .The only why to access your account is through e-mail ( through me ) .
We don’t have ATM / bank machine cards , but we are working to .
Once your goodself send the informations I need , the accounts will be open"
So we need to transfer that immediately? Or can the accounts sit open and empty for a bit? I am confused. :confused:

[BRYAN]

I sent Warka an message today asking her the proper procedure to wire the funds and what SWIFT code to use to allow 100% transfer to the accounts she provided to me . I hope that the accounts will be ok for a while until they have the min balance .

[IQDFiend]

Hi Folks...

I wired my money last week to Warka, and as we speak it sits idle in my Warka account. When oh when will we be able to buy on the ISX?!?!?!

My Warka US$ acount has 3 digits, my Warka Dinar account has 4.

[raptor78]

Is your account # for warka have 4 digits ???

BRYAN, my account numbers are 6 digits each... Did your's come back as 4?

[raptor78]

Raptor are you able to go to Warka in person ? Do you speak arabic ???
No, I did not go in person... I am in the Al Nasiriya region and I have spoken with them 3 times via telephone here in Iraq... I wish I spoke Arabic, but truth is, they do have english speakers in the bank, might be a little tough getting to them, but they are there :) And the ones who speak english, speak fairly well...

Let me know if you need any more info... I will be performing a wire at the first of the week on my way back to states, so we will see how that goes...

[BRYAN]

No, I did not go in person... I am in the Al Nasiriya region and I have spoken with them 3 times via telephone here in Iraq... I wish I spoke Arabic, but truth is, they do have english speakers in the bank, might be a little tough getting to them, but they are there :) And the ones who speak english, speak fairly well...

Let me know if you need any more info... I will be performing a wire at the first of the week on my way back to states, so we will see how that goes...
Thanks Raptor . I have 4 digits for the Iraq account and 3 for the US account .I had a phone call about 4 weeks ago and some one had an accent aan thay wanted to know if I wanted to buy gold ??? I called traced it and will check this months phone bill ( they used my toll freee # ) to see where it originated from . I Thought it was the bank but it was in the afternoon . I wanted to be sure someone else had sent Warka money and confirmed it arrived into said accounts ! :rolleye03

[Marilyn]

I received the wire confirmation today from R...


Dear Marilyn,
Thank you for your e-mail .
I receive your wire transfer yesterday ( 440 $ ), please be informed that i'll draw the commission of opening the acount 2 $ and the commission Of recevinf the transaction 1 $ only from your account .
Best regards .


Randa

[joec]

I received the wire confirmation today from R....


Dear Marilyn,
Thank you for your e-mail .
I receive your wire transfer yesterday ( 440 $ ), please be informed that i'll draw the commission of opening the acount 2 $ and the commission Of recevinf the transaction 1 $ only from your account .
Best regards .


R
Awesome! Congrats, Marilyn! Just out of curiousity, what is the cost of wiring the funds? Not the Warka fees, but fees on the sending end of things?

[Marilyn]

My bank charges 30usd, and I think because the funds had to go through an intermediary bank in Jordan, that's another 30, so the final amount received in Iraq was 440 of the 500.

[Marilyn]

That's right, you wouldn't hold any funds in the USD account. It's just to use for the conversions. That is until the dinar hits a dollar. Then you may want to move it back to the usd account and wire it back to yourself. :D

[Ehden]

I saw on the Al-Warka Bank website that they also have CD's available. Has anyone received any info from Miss R about how much interest these cd's pay? Thanks and I just joined the forum after reading for several days. You guys are great. Ehden :huge:

[joec]

Any news on anything banking related would be wonderful. Any new experiences to share? Anything? Anyone?

[BRYAN]

I saw on the Al-Warka Bank website that they also have CD's available. Has anyone received any info from Miss R about how much interest these cd's pay? Thanks and I just joined the forum after reading for several days. You guys are great. Ehden :huge:
Hi Ehden , I have currently an account with Warka bank . Ill send a message to R and ask . She has been responding pretty fast lately. The bank is close till sunday evening for us . I'll ask the terms and interest rates . Thanks for asking and hope to get a reply for your question . :wave:

[Aunt Gwennie]

That's right, you wouldn't hold any funds in the USD account. It's just to use for the conversions. That is until the dinar hits a dollar. Then you may want to move it back to the usd account and wire it back to yourself. :D

Hi Marilyn!!

Since you are one of the veteran Warka account holders, any recommendations on how to get a response from Miss R? I sent all the necessary documents on August 1 and have even emailed her agan stating I had received no response from my request to set up accounts. If there was a problem in setting up the accounts jointly in both mine and my husband's names, you would think she would have contacted me.....but no word! :(

What should I do?? :confused:

Thanks for your help! Aunt G

[Marilyn]

With all the email she's been receiving since we posted the bank info has her overwhelmed. The turnaround time has gone from 3 days to 7. I think they are off on Fridays but work on Sundays. You'll probably have an answer on Mon or Tues. Some folks have spoken with her on the phone, if you can call during their operating hours. :wave:

[BRYAN]

Someone had posted that between 1am -2am central standard time would be the best time to e-mail her . That is when she has cleared her e-mails from the weekend .

[Aunt Gwennie]

Someone had posted that between 1am -2am central standard time would be the best time to e-mail her . That is when she has cleared her e-mails from the weekend .

Thanks Bryan!! I did do that when I sent all my documents attached to my email. I also had to save my jpegs in the smallest dpi I could so the file size was smaller. If the file size it too big....it won't go through either. Will be returned. Should I have said in my email letter, instructing the accounts to be set up, that we planned on investing in the ISX when it opened for world trading? Just wondering if that would have made a difference. Plus...I asked for the accounts to be set up jointly in both mine and my husband's names. Wonder if that is what is holding everything up?

Thanks everyone for you input on this. Aunt G

[iraqidinar2005]

Can they wire you back? Has anyone spent the money to ensure they have the process in place?

[Aunt Gwennie]

Can they wire you back? Has anyone spent the money to ensure they have the process in place?

Haven't heard of anyone answering that one. I am still just trying to get my accounts set up. :(

[Ehden]

Just curious if anyone has actually wired funds to Warka Bank yet and how to proceed with the process? Im convinced for myself they are legit as the CPA has them listed on their site and also lists the hotmail email address. :wave:

[fsm75]

Just curious if anyone has actually wired funds to Warka Bank yet and how to proceed with the process? Im convinced for myself they are legit as the CPA has them listed on their site and also lists the hotmail email address. :wave:
There are a few people on the formum who have wired. I think Marilyn the Moderator is one of them.

[Ehden]

Marilyn please forgive the ignorance of my question but i noticed you have already wired funds to Warka through a bank in jordan and said it was very easy process. I have my Warka account numbers and would like to wire funds. Can you give me a step by step process to get this done? I understand the risks and I am confident in Warka Bank after doing my own due dilligence. Thanks in advance. I dont think ive ever wired funds anywhere before let alone to an account in Jordan and then to Iraq so please forgive my ignorance of the process. I have some trouble following Miss Shakirs instructions :)

[BRYAN]

Thanks Bryan!! I did do that when I sent all my documents attached to my email. I also had to save my jpegs in the smallest dpi I could so the file size was smaller. If the file size it too big....it won't go through either. Will be returned. Should I have said in my email letter, instructing the accounts to be set up, that we planned on investing in the ISX when it opened for world trading? Just wondering if that would have made a difference. Plus...I asked for the accounts to be set up jointly in both mine and my husband's names. Wonder if that is what is holding everything up?

Thanks everyone for you input on this. Aunt G
Hi Aunt G ,
I sent three emails with a document that was large enough to read on each . My Brother MTC 5100c color scaner worked well for my drivers license .
I don't know if the joint account will be the delay or maby the mass amount of new accounts ??? Just make sure the D.L. is readable .

[Aunt Gwennie]

Hi Aunt G ,
I sent three emails with a document that was large enough to read on each . My Brother MTC 5100c color scaner worked well for my drivers license .
I don't know if the joint account will be the delay or maby the mass amount of new accounts ??? Just make sure the D.L. is readable .

Hi Bryan!

Finally got a reply to one of my emails. She said she never received my info. So I resent it around 1:30 AM CST on 8/11. But I sent it via reply to her email. It also took me several attempts before if finally went through. Kept getting the return mail thing that the mail box was full or my file was too big. If I don't hear something back from her by Friday...I will send again but I will send the files separately like you did. Thanks for the info. Aunt G

[Ehden]

I have my account numbers with Warka Bank. Can anyone at all tell me how to go about wiring the funds to the account??? Thanks :huge:

[Aunt Gwennie]

I have my account numbers with Warka Bank. Can anyone at all tell me how to go about wiring the funds to the account??? Thanks :huge:


There is a thread under this topic labeled FAQ about Warka Bank started by Monty. He has taken great pains to consolidate all the info reagarding setting up an account, transfering funds, ects. Look at the very first post. You'll probably find everything you need there.

Aunt G :wave:

[Monty]

There is a thread under this topic labeled FAQ about Warka Bank started by Monty. He has taken great pains to consolidate all the info reagarding setting up an account, transfering funds, ects. Look at the very first post. You'll probably find everything you need there.

Aunt G :wave:
Thank you Aunt G.

I did mainly for newbies and also helpful for R.

I did receive confirmation today that my Dollars were sold for Dinars at rate of 1465. Yahoo!!! :huge:

Monty

[Aunt Gwennie]

Hey Monty!!

No problem. I know that all the info was a group effort but you took the time to take all the info and put it together in one area...which made it much easier to digest.

Thanks to everyone who contribute so much to this forum!! Without everyone's efforts, many of us would just be treading water!!! There is so much information out there...it would be impossible for each of us to find everything on our own!!

Aunt G :wave:

[BRYAN]

Hi everyone , I have some information about the current situation for this Foreign exchange trading company . This company get's the clients-investors to one of the listed 26 banks that they deal with . The bank gives you a credit line type account and then you buy and sell currency thru the bank . The bank lay's out their money under your account . I had asked what he felt about the Iraq dinar and he Told me they will not trade this currency at this time . The violence and unstable situation is keeping most banks out of the picture . I asked him about they requirements that would make this currency tradeable , ( world banks would reconize the goverment as stable and have real control over the people . ) Then when it get's around the 200 to 1 that's when these big cats get involved . They have clients that wager a min. of 50k to millions . Must be nice. He also said that if I wanted to deal with a personal account he recommended 2 sites that would be able to trade for me with as little as 250.00 to start . They are * " www.gaincapital.com" & " www.refco.com " ) However when I contacted Gain capital . I had asked him if the IQD is traded or accessable to be hedged or speculated against . NO was his response . He told me that you cannot get an account or accesss into the Iraq banks . I told him I was reading on a forum and that there were people that have opened accounts in Warrka bank . He said to be careful ! . The martial law thing came up , the bank could be blown up was another comment , and the security was a big concern due to the enviroment at hand . :( All valid concern's to have for their clients , they will not allow too much risk , so they will only trade & recommend for trade the major currencies ). I will set up the mini account for 250.00 + to get my foot in the door .You can do this at their site . there is a form that needed to be signed and faxed back - than account number & password given , then wire transfer the money . Then your able to start trading .All done over the internet secuerd site !!!
My account in Warka , to me , will be a ace in the hole or up your sleave , as far as i'm concerned . The risk is high and he said if and when it pay's off than the rewards will be great , but it can go the other way also .
As for the Refco company , I briefly looked at their site and will try to speak to someone on the phone on monday to ask them their requirements . I'm sure they will have the same type of answer .?? I really wanted something positive , but I figured that this would be the response . So what we are waiting for is a couple of good weeks - no kidnappings / killings are reduced - I don't think it will be eliminated , and to have their goverment respected and laws followed by all the people of Iraq . I hope this information is helpful with making any descion for investment purposes . I felt that this company trades currency as a business , that they would be in the fold to get the IQD , but they are waiting just like the rest of us !!!
Saxo bank also contacted me about a request I sent 2.5 months earlier .
10,000 usd or equivilant to start trading with them . I didn't even call .I felt that they would have a similar response about the IQD .

[Blake]

Okay, I just want to point out for everyone who has typed it 100 times this way, that "martial law" is not spelled "marshall".

Cheers

[cashin]

Tihis may be a dunb question, but I am throwing it out there for any one to answer. WHY OPEN A FOREIGN BANK ACCOUNT? If I just have possesion of my dinars and say in a year they are valued as we are all hoping them to be. do I need a foreign account top cash them in ? Does it all have to do with if it hits the World Market? Thank you for your replies.

[Potogold]

Tihis may be a dunb question, but I am throwing it out there for any one to answer. WHY OPEN A FOREIGN BANK ACCOUNT? If I just have possesion of my dinars and say in a year they are valued as we are all hoping them to be. do I need a foreign account top cash them in ? Does it all have to do with if it hits the World Market? Thank you for your replies.


It's not a dumb question, but you have to have an exit strategy until the Dinar is traded on the currency exchange markets. At this time, the Dinar is not traded and if the value should suddenly increase you could not sell.
Ihave applied for an account with Warbank via e mail as was suggested on this board. However, I have also applied via U. S. Mail lto HSBC, one of the three banks authorized to do banking inIraw, and they have an office inthe U.S. and you can talk to them via Telephone.

[BRYAN]

Cashin -in As for me I got the account for a few reasons . :rolleye03
1> to get a really great exchange rate for the dinars / dollar 1460 to 1 .
2> I wanted to get in the first wave of foreign investors to be able to purchase stock on the ISX when it opens to foreign investors . Warka is a bank as well as a stock trader . They will be able to handle my needs .
3 > The security for this bank as for any other bank should be considered before investing any money !!!! Be sure the money you lay out is considered as funds that are willing to be lost 100% , that way for me I 'm taking a controlled risk / loss approach to this investment . The money that I risked , I can afford to lose . So if this investment dosen't pays off than I won't be as sad as some of the others ??? I don't know how they would feel but not good . On the other hand , If the dinar goes the way that most of us here want it to go ,than we are all reaping the rewards.
A foreign account is not necessary or required , it is just some of us here like to reach a little farther into the Iraq investment sitiuation :wave:

[MMOFLO3]

I Have Sent Miss All My Info More Than A Week Ago And Still No Response.has Anyone Spoken Or Recieved Any Emails Recently From Al Warks Bank.

[Blake]

I received my account numbers in an email Saturday morning after sending the required documentation in an email on Wednesday or Thursday.

Ms. Ralso responded to a few questions in a Sunday email I had emailed her separately about on Friday.

[Aunt Gwennie]

I Have Sent Miss R All My Info More Than A Week Ago And Still No Response.has Anyone Spoken Or Recieved Any Emails Recently From Al Warks Bank.
I originally sent all my docs and letters on 8/1. After 2 more follow up emails, I finally heard from her on 8/10 and she said she never received info. Resent my docs on 8/11 and then a follow up email of 8/12 to let here know I resent the info and still nothing!!! It took several attempts because the file kept coming back saying the mailbox was full or the file was too big. I reduced my docs down to the smallest file I could so that they were still legible.

It finally went through about 1:30 in the morning CST.

MY QUESTION TO THE ONES WHO ARE GETTING THEIR ACCOUNTS SET UP SO FAST IS: What day of the week are you sending your request and docs?

AND: How are you handling your file attachments?

AND: What time of the day are you sending your emails?

Thanks for you responses!!! Aunt G

[Blake]

MY QUESTION TO THE ONES WHO ARE GETTING THEIR ACCOUNTS SET UP SO FAST IS: What day of the week are you sending your request and docs?

AND: How are you handling your file attachments?

AND: What time of the day are you sending your emails?

Thanks for you responses!!! Aunt GI sent my scanned documents as jpeg images.

I sent the email late at night....around midnight ET last Wednesday i believe. Received my account numbers Saturday Morning(friday is their weekend).

[Aunt Gwennie]

Thanks Blake! I will try again tonight since it will be in the middle of their week. I was sending mine on late Saturday night early Sunday mornings CST. Maybe it is getting lost in the barrage of everyone emailing requests thinking that is their Monday over there.

Hopefully, it will get processed this time.

Aunt G

[dinardude]

MY QUESTION TO THE ONES WHO ARE GETTING THEIR ACCOUNTS SET UP SO FAST IS: What day of the week are you sending your request and docs?

AND: How are you handling your file attachments?

AND: What time of the day are you sending your emails?

Thanks for you responses!!! Aunt G


I sent my email to Miss R to set up my account on Wed 8/11/2004 2:58 PM Central and she sent back a reply on Sat 8/14/2004 2:10 AM with my account numbers. Very quick response time I thought. I sent my attachments as low-res gifs but big enough to read my D.L. I believe making sure your D.L is readable is key.

[Potogold]

To open an account at Warka Bank you need:

1) Copy of Passport or Drivers License
2) A letter, as follows, authorizing Warka Bank to exchange USD to IQD on your behalf

I (insert your name) authorize Al-Warka Investment Bank to draw from my Dollar account ( current or saving ) in the above Bank and exchange the Dollar into Iraqi Dinar according to price fixed by the Central Bank of Iraq at that day , and then deposit it in my Iraqi Dinar account at the said bank

(Your Name)
(Your Address)
(Your Signature)

Here's how I sent the above to Warka Bank.

1) Scanned my Drivers Licence and saved as a jpg
2) Typed the above letter, printed it, signed it, scanned and saved as a jpg
3) Created and sent an email to: warkabank@hotmail.com

Insert File - Drivers License jpg
Insert File - Autorization Letter jpg
Body of email contained the following:
Dear Miss R B.,

Please open a USD and IQD Savings Account with Warka Bank on my behalf. Attached are my Drivers License and Authorization Letter.

Thank You,



Note: There are many alternate methods for creating, scanning, and attaching documents to an email. The most popular are jpg and pdf.

If you follow the above you will not have any problems opening an account. Be patient as Warka Bank is swamped with requests. It took 4 calendar days for my account to be opened.

Current Account - no interest is applied to account
Savings Account - interest is applied

Both accounts can be used to purchase Iraqi Stocks when opened to foreign investors.
:happy64:
I followed your instructions to a "T" and this morning I received an email and my account has been opened. Account numbers were in the e mail I received this morning. This took 3 days. Thanks for the information.

[Aunt Gwennie]

Finally got my account numbers today. Don't know what the problem was but Miss R said she emailed my account info on August 12 but I never received. I resent everything yesterday afternoon to the alwarka email and then to the hotmail address early this morning.

Her email was dated August 19 @ 9:40 am. So she must have gotten the one I sent to the alwarka email address when she came in on the 19th.

Any way.....I am glad to finally have that done!! Now to wire the money. Thanks to everyone for sharing your info on getting this done. And it would appear that sending info on Wednesdays to Miss R gets through to her with much more ease. I was sending my emails on early Sunday AMs CST. Obsiously not a good time to send stuff. That is like their Monday over there.

Good Luck to all!!! Aunt G :wave:

[Jahed]

It seems pretty much everyone is getting accounts with Alwarka. I was wondering if any of you have set up an account with Credit Bank of Iraq, and if you have, who did you send the email and information to? Also, would you have access to the stock market if you set up an account through CBI?

[IraqiFreedom]

Is the warkabank@hotmail.com address still the one to use? I see another email address, warkabank@alwarkabank.com, on their we site.

[peterz]

Is the warkabank@hotmail.com address still the one to use? I see another email address, warkabank@alwarkabank.com, on their we site.I sent an email question via the warkabank@alwarkabank.com address yesterday (no response yet), but I think Miss R uses the hotmail account for her correspondence with clients, and she appears to be the only Warka employee dealing with us.

[BRYAN]

Miss R must have her own customer list and corrisponds thru the hot-mail account . I have not used the other e-mail address .. I hope to see a responce from this site if some here get's one ....warkabank@alWARKABANK.com
I believe if you sent the message yesterday they are closed till sunday ... maybe you will get a response later today ???

[Aunt Gwennie]

I have used both addresses. When I first tried to correspond with Warka Bank to get my accounts set up....I was just using the hotmail address but for some reason, my emails weren't getting through. Also...she finally responded to my request for verification that she had received my sensitive documents and I cc'd to both emails. In other words, I sent the same letter to both addresses and did get a response. Now when I email her, I just reply off the correspondence she has sent me and by the way....her address comes through as Warka Bank Warka Bank <warkabank@hotmail.com>

My accounts are now set up and just got confirmation from R yesterday that she got my first wire transfer. Even told me that by the time the money got to her...somewhere down the line someone left one of the zeros out of my account number and she brought that to my attention. She wanted to assure me that it was credited to my account.

Just for clarification purposes.....You will pay a local wire transfer fee at your bank and then another wire fee is deducted from the amount you are sending for transfer fees from the Jordan Bank to Alwarka.

Aunt Gwennie :wave:

[ISX_TIME]

I have used both addresses. When I first tried to correspond with Warka Bank to get my accounts set up....I was just using the hotmail address but for some reason, my emails weren't getting through. Also...she finally responded to my request for verification that she had received my sensitive documents and I cc'd to both emails. In other words, I sent the same letter to both addresses and did get a response. Now when I email her, I just reply off the correspondence she has sent me and by the way....her address comes through as Warka Bank Warka Bank <warkabank@hotmail.com>

My accounts are now set up and just got confirmation from R yesterday that she got my first wire transfer. Even told me that by the time the money got to her...somewhere down the line someone left one of the zeros out of my account number and she brought that to my attention. She wanted to assure me that it was credited to my account.

Just for clarification purposes.....You will pay a local wire transfer fee at your bank and then another wire fee is deducted from the amount you are sending for transfer fees from the Jordan Bank to Alwarka.

Aunt Gwennie :wave:

I too , have had the same email from R when I cc'd both addresses, it seems that the hotmail address went unanswered and whenn I cc'd both, I immediately got a response.
My initial reasons for openeing with Warka was to also have the opening day advantage for the ISX. But after contemplateing I wish I could put more dinars in their bank.

1) It seems that Warka pays 5% interest on the IQD account. therefore we could immediately earn an interest on the dinar without having to cash them in and transfer the interest back to the US$ account then back to the states.

2) a chance of a currency recall, (HIGHLY unlikely, but still a chance) your dinar is already in Iraq and will be exchanged automatically.

3) In a dream I had last night, Iraq's money increased to .31 but was not on the world market ( Is this possible ?) and everyone outside iraq could not take their dinar to any bank because it was not recognized on the world market. (at least this way , If that dream did come true , my dinar is already their and coulbe drawn upon) HEY ! Starnger things have happened !!

DOES anyone KNOW how I can get some of my USA dinars back to Iraq ?
I'd like to set up other Iraqi Bank accounts.

[Aunt Gwennie]

DOES anyone KNOW how I can get some of my USA dinars back to Iraq ? I'd like to set up other Iraqi Bank accounts.

Don't know how you would get that done other than packaging them up and sending them to R or making a trip there personally and depositing the money into your Dinar account. I think someone already ask her about sending Dinars from the US and she was not keen on the idea of us doing that. She could not accept responsibility if they were to get lost or stolen.

I guess you could do a small test run of 100,000 Dinars and see what happens. Your stash is so BIG :shhh: ....you wouldn't miss that little amount!! hehehe :D

Aunt Gwennie :wave:

[ISX_TIME]

Don't know how you would get that done other than packaging them up and sending them to R or making a trip there personally and depositing the money into your Dinar account. I think someone already ask her about sending Dinars from the US and she was not keen on the idea of us doing that. She could not accept responsibility if they were to get lost or stolen.

I guess you could do a small test run of 100,000 Dinars and see what happens. Your stash is so BIG :shhh: ....you wouldn't miss that little amount!! hehehe :D

Aunt Gwennie :wave:

You're absolutely right, this is the only, and definate way anyone will ever know.
The rewards are greater then the risk.

Thanks

[IraqiFreedom]

Thanks for all of your quick responses. This is a great forum. :happy64:

[BRYAN]

I sent my info off Saturday got my account numbers Today, So far it has been an awesome Labor Day!! Thanks for everyones help!! :happy64:
That's great :happy64:
You are off and running ..
It looks like Ris setting up accounts faster ....That is a good sign ..

[datsafact]

Quick response also...sent email Sunday at 3pm and received numbers Monday at 9am.I owe it All to this wonderful forum.Thanks.

[kelleyB]

Your stash is so BIG :shhh:
AUNT GWENNIE THERE ARE CHILDREN HERE....LOL OK MAYBE NOT, BUT I AM STILL SHOCKED ;) :lmao:

Oh I will be on later to start getting information on getting that bank account. Hubby and I agreed to start doing the stocks
;) look out banks.

[JeffEdmo]

It seems pretty much everyone is getting accounts with Alwarka. I was wondering if any of you have set up an account with Credit Bank of Iraq, and if you have, who did you send the email and information to? Also, would you have access to the stock market if you set up an account through CBI?
Did anyone ever respond to this question? If so, I missed it - but I have the same question...

[Aunt Gwennie]

Did anyone ever respond to this question? If so, I missed it - but I have the same question...

To my knowledge....everyone on this forum has been using Warka Investment Bank. I, myself, sent an email to Credit Bank and never got a reply back.

Aunt Gwennie :wave:

[kelleyB]

I did it, I did it :happy64: I opened an account. OOOh that was scary. ;)


Ok I scanned everything, saved it as JPEG then put them on a word doc. Is that ok? They are still jpeg. hmm Maybe I will send again but seperate scans

ok, now that I think about it. I will just encase they don't have word document.

[THANOS]

how did the wire transfer go?

[kelleyB]

Did n't do that part yet

[IraqiFreedom]

I emailed Miss R at 1:16am pst on the 5th and had my account numbers by 2:18 pm pst on the 6th.

I used the @yahoo address. I also sent all of the information in a single pdf document that I created using OpenOffice (http://www.openoffice.org/).

Now for the wire...

[kelleyB]

What yahoo address?

[IraqiFreedom]

What yahoo address?
Space Out... warkabank@hotmail.com :drunk:

[bkewl]

mine was about 5 days

[kelleyB]

Space Out... warkabank@hotmail.com :drunk:
Yeah she wrote me back yesterday or today and told me to email it again but use the yahoo address. She never got my emails at the hotmail.com. I know the alwarkabank.com address worked, but the hotmail.com kept coming back. Hopefully this will work this time ;)

[BRYAN]

I always use her hot mail address and she does respond to me there ... Is there any other sites that she responds to also ???
Please list them if you can ....The sites that R has responded so all can use .I have used : warka@hotmail.com

[dinardude]

I've always used warka@hotmail.com and have received responses from R. Good suggestion Bryan on posting other email addresses used by R.

[kelleyB]

R told me to use the warkabank@yahoo.com if I am having problems with the hotmail.com account.

[BRYAN]

I sent a message to R thru her Yahoo address .. Hope she is getting our messages ???

[Jerry]

R just got back from a short vacation. I called her earlier this morning. Shes a little backed up with requests and needs a few days to catch up. I'm sure she will answer your e-mails however if you sent to the "hotmail" address most likely her box filled up (mainly due to new accounts with jpg files) So resend to yahoo if you dont get a response in 3 days or so.

Jerry

[BRYAN]

I recieved message from r that she did recieve my authorization order to buy stocks when the time is allowed

She is also busy after work helping with her brother's wedding ..
I guess when things gets busy the work is done during work hours .. with the influx of new accounts and other tasks I'm sure she has alot to do .
R will reply just be calm and wait ...

[BRYAN]

Sent the Notice Sept 29th via hotmail
Sent another notice message Oct 1 via hotmail and yahoo adddress
Sent final Oct.4 hot mail - yahoo
and seperate message in this forum to the Warka member which is R
She did respond to those via this forum's IM..
Hope this helps ..

I try not to repeat my self , but I wanted to make sure she recieved the information and I wasn't going to stop sending her messages to her until I recieved a response ....That's just me ....

[JeffEdmo]

Been trying to get an email response from R re: my account balances since my wire xfer was sent on 9/28. Sent to the Hotmail address to no avail. Anyone else having luck?

I'm trying to reach her too. I sent an email to the hotmail account on Sept 27th telling her I had wired money and to transfer it to my Dinar account when it arrived and send me account statements showing balances. I sent some follow up emails to both the hotmail and yahoo account. I finally got word from her on Oct 4th confirming that she had received the wire. However, she did not tell me whether or not the money had gotten transferred to the Dinar account and did not send a statement. I have been emailing both accounts since then trying to get confirmation on the transfer and account statements. I also sent her a PM on this forum. Still have not heard back.

[toryangski]

Hi! I'm new to this investing in Iraq thing and I would like to ask for your guidance. I also want to open an account at Warka Bank. I'm a working student and I dont have much money. Do I need to send money to open an account or can I just open an account first and then send money later? What are the office hours of Warka bank? Thanks.

[BRYAN]

That's the way EMD !!!!
He has gone thru the forrest and is helping others .. a team player indeed !!!! :huge:

[Shah of Dinar]

You can open the account first and it will stay open for up to 6 months without funds. Go to Warka website for info. about hours, you need to account for the time differences, which can be confusing. There are better days/times to email than others. :wave:
Is there a Warka website? Can you give the link?

[usajmg93f]

http://www.alwarkabank.com/

[patrice]

Wow! It opened yesterday, is that right? (I hit Properties and it showed 21 Oct 04) How did you know? Do you know if they have a plan for on line secure banking? This is great progress and I'm happy for Al Warka. :lmao:

[Aunt Gwennie]

Hi! I'm new to this investing in Iraq thing and I would like to ask for your guidance. I also want to open an account at Warka Bank. I'm a working student and I dont have much money. Do I need to send money to open an account or can I just open an account first and then send money later? What are the office hours of Warka bank? Thanks.

This will give you all the info you need to set up your account

http://www.investorsiraq.com/showthread.php?t=244

Hope this helps.

Aunt Gwennie

[Aunt Gwennie]

for all the info you need to send your wire transfer into your account.

http://www.investorsiraq.com/showthread.php?t=803

Good luck!! Aunt Gwennie :happy26:

[toryangski]

:huge: Thanks for the reply, Aunt Gwennie and Even Mo Dinar. Just sent warka an email. I hope to get a reply soon :lmao:

[Aunt Gwennie]

:huge: Thanks for the reply, Aunt Gwennie and Even Mo Dinar. Just sent warka an email. I hope to get a reply soon :lmao:Just know, R gets pretty overwhelmed sometimes....then there are some things that are totally out of her control (EMD can relate to this one really well!!). If you do not hear back from her within 4-5 days, just follow up with another email with a subject line that expresses your concern about whether she received your info.

Good Luck!!

Aunt Gwennie

[toryangski]

Just know, R gets pretty overwhelmed sometimes....then there are some things that are totally out of her control (EMD can relate to this one really well!!). If you do not hear back from her within 4-5 days, just follow up with another email with a subject line that expresses your concern about whether she received your info.

Good Luck!!

Aunt Gwennie

Thanks for reminding me. Emails could be pouring into her mailbox even as we speak.

[Aunt Gwennie]

Thanks for reminding me. Emails could be pouring into her mailbox even as we speak.
And yes....we have been keeping her rather busy here lately.

Aunt Gwennie

[ChicoInIraq]

I'm pretty new at this and I just sent out my information for an account with Warka. Now, once I get my account numbers how do I transfer money from my bank to the new accounts?

[ChicoInIraq]

When the money becomes available to the open market, and let's assume it opens at .41, there will be many people trying to transfer thier Dinars to Dollars right? What will happen if that number crashes at the end of the day, will people be able to transfer their money to a US account without any serious repercussions?

[fomoco dinarco]

she must be working overtime becayse i submitted application at 11:00 pm friday night and just checked email at 7:30 am monday and account already open :happy64: pretty fast

[Mucho Dinaro]

she must be working overtime becayse i submitted application at 11:00 pm friday night and just checked email at 7:30 am monday and account already open :happy64: pretty fast


Well, interesting, I did the EXACT same thing with the exact same results!! :happy64:

[fomoco dinarco]

Well, interesting, I did the EXACT same thing with the exact same results!! :happy64:

you only had a 50/50 chance of that happening.

[srougeau]

Hello, everyone, I'm new to the forum. I have a question? Has anyone with a Warka Bank account received a monthly statement? Does Warka do this?

Thanks,
SR

[bkewl]

The WarkaBank Statements are in English now. And are emailed upon request.

[JeffEdmo]

I've sent her several requests for a statement over the last 2 weeks with absolutely no response. I'm still using the warkabank@hotmail.com address. Is this the same one you guys are using to start your accounts and getting a fast response? I would feel alot more at ease if I could see an actual account statement. Starting to get worried, especially after seeing post after post saying they got a fast response from her. Any suggestions?

[bkewl]

R was on vacation for 1 week. I'm sure she is extremely behind. I waited a lil over 2 weeks for my statement. She hasn't let us down yet...

[Chaka]

just mailed info to open acct 11 pm cst 12/4.

curious to see how fast i get numbers for accts sent to me.

[BRYAN]

Just in case someone didn't read previous messages by others.

I think the full mailing address is;

Warka Investment Bank
Head Office
Baghdad – Iraq
Hay Alwihda – Sec. 902 – 14th St.
P.O. Box : 3559 Elwiya

ATTN: Miss R B

Tel. : 00964 1 7170271


If someone knows better, please share information.

I was thinking of sending Miss R a Hershey assortment of Chocolates ..
I wonder if I sent it Fed-Ex International Priority with a return reciept or delivery confirmation will it get there or get eaten ...??

I will let everyone know when I ship it and hopefully Miss R will recieve it.. and she will respond .. Then we can see if Fed-ex is the way to ship ... :huge:

DHL & Skynet also delivers to Iraq ...

[heyvern]

How long does it usually take for Rhondda to send account numbers after emailing information to her? A week? Two weeks?

[stan fox]

Have we dicussed how to deposit the currency, that many of us already have in hand, with R? Will they accept FedEx or USPS shippments?

[RET]

How long does it usually take for R to send account numbers after emailing information to her? A week? Two weeks?

From what I've read, I think the time frame has varied greatly for several members. Some in a matter of days, for others a long time (2 wks.?).

In the "Relaying Message from Warka Bank 12/25/04" thread, Jerry states that he talked to R. She asks that we wait until after Jan. 1 to request information, etc. as they are ammending their system and conducting end of year balances.

So, it'll take longer to hear from her. Patience.

Good Luck! :wave:

[Shakyamunni24]

Anyone know if R's email is working? I've tried sending my info several times but i keep getting it back saying that her email might be full...You guys have any info on that?

thanks,

jose

[sogrgirl]

I have sent three emails to Rover the past couple of days and haven't heard anything from her, but haven't rec'd anything that says her email box is full or not working. Just waiting...:rolleye03

[RET]

Consider the following:
* Internet problems
* Change over to new email address - making contacts
* Wrapping up end-of-year statements, etc.
* Overwhelmed with requests for opening an account

I bet they are extremely busy and are just trying to get caught up. IMO

R requested that we wait until after Jan.1 to make requests, etc. (if I'm not mistaken). It's only a few days into the new year. Who knows what all they are having to deal with!?! Give her (and the bank) a couple more days. Patience. :wave: :)

[sumdinar]

same problem...no response but nothing saying it is not going through.....at least we are not alone

[Chaka]

those of us still waiting(myself included) - just because you don't know anything is being done does not mean they are not receiving and converting funds

example dated 12/31/04
Dear Mr. **Tyred***
I’m sorry for the delay in my response I actually finished
it since more
than week ago but my computer was facing some problems (
not working )
and the internet was very slow and not very efficient. I’m
sorry again.
I confirm the receiving of your wire transfer $ 3450.29
I draw $ 3443.00 from your account and purchase Iraqi
Dinar with the
price 1462.5 , after I take our commissions out , I credit
you Dinar
account with the amount : 5026780.00 Iraqi Dinar.
Best regards.

WIB
R


also try to remember you are not the only one trying to open an acct or send funds- forum is 1200 members strong and growing.

[dinar_buyer]

Below are two emails re: sending documentation via FedEx.

I also asked USPS and they do mail to Iraq ( Priority International? )


November 23, 2004

Dear Miss R,

I wish to open both an Iraqi Dinar savings account and a USD savings
account with Al-Warka Investment Bank.

I need to transmit my authorization letters and copy of my driver’s
license to you.

1. Will you accept delivery via FedEx?
May I mail my authorization letters and a copy of my driver’s license
to you via FedEx?

I prefer mailing documentation to you rather than using email.

3. What mailing address goes directly to you?
Do I mail to:

Warka Investment Bank
Head Office
Baghdad - Iraq
Hay Alwihda - Sec. 902 - 14th St.

I am waiting for your response via email.

After receiving your response I will apply for IQD and USD accounts with
your bank.

I hope this request finds you and your loved ones safe.

While I have not met you personally, I know many folks appreciate you and your efforts.

Thank You
c.o. jones

Subject: Dear Mr. C.O. Jones,
Date: Wed, 01 Dec 2004 18:38:47 +0000

Dear Mr. C.O. Jones,
I’m so sorry for the delay .
We accept mails from FedEx you can send your documents to our bank
address ( just write Attn Miss R) :

Head Office
Baghdad – Iraq
Hay Alwihda – Sec. 902 – 14th St.
P.O. Box : 3559 Elwiya

Tel: : 00964 1 7170271


Best regards and have a nice day .
R
WIB
C.O.,
I'm unable to find an update on your post. Did sending your documents via Fed-Ex work for you? Was the turnaround quicker? How much did it cost?
Thanks.

[dinar_buyer]

Thanks for the update. Please keep me informed, as I will you. Thanks again!

[dinar_buyer]

Both DHL and UPS have automated online quotes of approx. $45 for document delivery. Their estimated delivery times are about 7-10 days depending on when shipped and business hours/days of the recipient. I'm unsure if these timeframes already take into account the local Iraq hazards, so it would be necessary to call to be certain. Fed-Ex didn't offer an online quote so a phone call is required but I doubt it would be much different from the others.

[patrick39]

Date: Wed, 01 Dec 2004 18:38:47 +0000

Dear Mr. C.O. Jones,
I’m so sorry for the delay .
We accept mails from FedEx you can send your documents to our bank
address ( just write Attn Miss R ) :

Head Office
Baghdad – Iraq
Hay Alwihda – Sec. 902 – 14th St.
P.O. Box : 3559 Elwiya

Tel: : 00964 1 7170271

Best regards and have a nice day .
R
WIB[/QUOTE]I was just wondering has anyone asked if we can send her a certified bank check for deposit? If they accept fedex delivery why wouldn't take a certified check? That way you would be able to follow the tracking all the way there and know that she received it.

just wondering
patrick

[Seaobin]

I have tried numerous times, but do not get a response. This am I received a reply from Hotmail saying there is no member with warkabank@hotmail.com

Can someone please let me know a good email for Al Warka

[ryandillon_04]

I have just received my account numbers. WOW, this feels good. I know it works. Our rep was just hving some trouble with the internet and been busy with the elections and things. Great Job Miss R! I am transferring money today to my account.

[DinarMan]

I received my account numbers today also. This is 45 days after sending my information. I am going to wire some money today as a test wire. I hope it doesn't take that long again to receive my wire confirmation. Thanks Miss R. :happy26:

[ryandillon_04]

Mine was only about 2 1/2 weeks. Let me know how your wire transfer goes. Are you going to use Western Union or Your bank?

[Seaobin]

what email did ms r use to send your numbers?

[MoJo]

Hello everyone. I am new to the forum and have really enjoyed reading all of the interesting info. on the dinar. I have scanned my D.L. and authorization letter and am ready to email it to Rhaanda @ Warka. I'll ask the same question as others: What is the new email address? I think it's something like c.accounts@.... can't remember the rest. Any help on this would be deeply appreciated as I am anxious to join all of you in this venture. Thanks to all for all the research.

[BRYAN]

Hello everyone. I am new to the forum and have really enjoyed reading all of the interesting info. on the dinar. I have scanned my D.L. and authorization letter and am ready to email it to Rhaanda @ Warka. I'll ask the same question as others: What is the new email address? I think it's something like c.accounts@.... can't remember the rest. Any help on this would be deeply appreciated as I am anxious to join all of you in this venture. Thanks to all for all the research.


I would like to give you the new e-mail boxes that I’ll use in future .
For any question or informations any one need to ask about , send your e-mails to :
Info@warkainvestmentbank.com

For any documents need to send to open an account , send your e-mails to :
c.accounts@warkainvestmentbank.com

For any requests for services like exchanging , bank statement , stocks , … , send your e-mails to :
c.services@warkainvestmentbank.com


wishing you all the best .

http://www.investorsiraq.com/showthread.php?p=33729#post33729

[dinar_buyer]

Date: Wed, 01 Dec 2004 18:38:47 +0000

Dear Mr. C.O. Jones,
I’m so sorry for the delay .
We accept mails from FedEx you can send your documents to our bank
address ( just write Attn Miss R) :

Head Office
Baghdad – Iraq
Hay Alwihda – Sec. 902 – 14th St.
P.O. Box : 3559 Elwiya

Tel: : 00964 1 7170271

Best regards and have a nice day .
R
WIBI was just wondering has anyone asked if we can send her a certified bank check for deposit? If they accept fedex delivery why wouldn't take a certified check? That way you would be able to follow the tracking all the way there and know that she received it.

just wondering
patrick[/QUOTE]
**************

Has anyone heard anything further on this?

[ReneeMG]

If this question is behind the times, my apologies. This is my first time reading about getting Iraqi bank accounts. Please tell me that I do not have to give them my US bank account information so the funds can be transferred from my account at home to the new Iraqi bank account. I'm not comfortable with that idea at all. :no: Beside, I rather deal with mailing the information via USPS (at an APO address). Let me know asap! If it's as good as I think, then I'm so ready to get on board.

Renee

[Lux]

You do not have to give your US bank acct info to anyone.
If you have been solicited this, please let us know.

After you set up your account, you can wire money from your bank to Iraq from your bank in the US. There are other ways as well.

Feel free to post any questions. That's what we are here for and that's how we all learned.

Hope this helps
:huge:

[ReneeMG]

Thanks Sportlux for your quick reply. That put me at ease a bit. I looked at their website & saw that they had more than just current & saving's accounts. They also had CD's & Term Deposits with competitive interest rates. I e-mailed them asking for more information. I know my money would be tied up with them for a certain amount of time, but if the interest rates are higher than their savings account it might be worth it. With Term Deposits the minimum is one month. I'll be stuck in Afgh. for 12-18 months so what the hey.

Renee

[DoctorDinar]

It feels so good to actually talk to Ms R at the bank. I have heard so much about her and finally got a chance to speak with her tonight.
I kept calling and finally got through. Ms R sounds so sweet. I found out after talking with her that my information that I had sent earlier did not make it so I had to resend it again. I am so glad I called. I am well on my way.


I also want to Thank "Chaka" for helping me out with contact information and the courage to call half way around the world. I am very greatful for your assistance. It feels so good to be a member of this forum.

Thanks again

:lmao:

[jeronamo]

Newbie looking for opinions. Does anyone have the same feeling that there is the potential of loss to these accounts due to fraud or polilitical uprisings that may occur. I see the benefit, but how can your confirm the money will remain safe?

[ryandillon_04]

Has anyone tried to wire money through WEstern Union to their bank account. I know it can b e done, but the form is kinda weird in filling it out.

[towerstm]

I am interested in opening an account but my drivers license does not have my picture on it. Does anyone know if they will accept it to open my account? Thanks in advance.

[farquar]

You can also use your passport.

[gato]

Hey guys, I was wondering if anyone would do a test withdrawal. I am willing to Paypal $20 to someone who already has an account with Warka if they will do the test withdrawal.

If 2 more people sacrafice $20 it will cover the wiring fee and we can know that we can atleast get our money back.

[ryandillon_04]

If you do more searching you will find in one of the FAQ or opening a Warka account that they have already tested that. Aunt Gwennie can probably find it fast.

[DarkRing]

Aunt Gwennie is out of pocket at this time....she will be on later tonight. You can go back to pass information that has been posted to get what you need. Takes a little time. It may be faster then waiting On Aunt Gwennie :)

[gato]

If you do more searching you will find in one of the FAQ or opening a Warka account that they have already tested that. Aunt Gwennie can probably find it fast.


I read the whole thread and did not see any info on that. Is the test withdrawal in another thread?

[ryandillon_04]

Here is the link:

http://investorsiraq.com/showthread.php?t=2296

It will take you directly to the place that tells about the one that successsfully wired money back to the US.

[gato]

Thanks for the link.

I was just wonering if there are any pictures of the outside of the bank. Has anyone seen pictures?

[matteroffact]

I was wondering how long it took, those who FEDEX'd their account application to Warka, to receive their account information in a return FEDEX envelope?
Actually, how long did it take to get your account setup if you did the whole process electronically?
Warka received my application on 2-22-05..
I'll give them 2-3 weeks, then I'll call Miss R. I know they
are very busy, and have life threatening issues to deal with on a daily basis too...

[twodogs]

Matteroffact.... Same thing here. Mine arrived 3-20-05, and still no email confirmation nor any tracking infromation on my return fed ex letter. I sent her an email this morning to see what the status is. I know they are busy, but was hoping the fedex thing would speed things up.Will have to wait it out i guess.

[looking to retire at 28]

Im sure this ques is some where but cant find some please help. do you need to send warka $$ when you first open your account, kinda like a start up fee. or do you just wire them money after you receive your numbers. you can also use western union to send them $ right?

[sogrgirl]

Im sure this ques is some where but cant find some please help. do you need to send warka $$ when you first open your account, kinda like a start up fee. or do you just wire them money after you receive your numbers. you can also use western union to send them $ right?

No, you don't send money to open an account, yes you can western union it to them after you get your acct. numbers back...

[looking to retire at 28]

No, you don't send money to open an account, yes you can western union it to them after you get your acct. numbers back...





Thank you.

[sogrgirl]

no problem :D

by the way, cool avatars :happy64:

[looking to retire at 28]

Thanks ..............

[looking to retire at 28]

no problem :D

by the way, cool avatars :happy64:



ONE MORE THING WHATS THE BEST,SAFEST WAY TO GET YOUR INFO OVER THERE.

[sogrgirl]

over the internet is one way, I did that and I know others did, but then if you think that may not be the best way, there is always FEDEX.

In retrospect I would go with FEDEX... JMHO

anybody else?????

[PapaPark]

Does anyone actually know Miss R? Please excuse my ignorance but what if this bank funds terrorists. I know.. sounds dumb or may be a long shot but does any one know who this bank really is? I'm just weeding out all possibilities before I feel comfortable doing this. It took me long enough to just purchase the dinars. Now reading I probably should have opened a bank account to do so.

[Jerry]

PapaParkDoes anyone actually know Miss R?

Yes several of us know Ms R. Shes on of the nicest most helpful person I know in the region.

Please excuse my ignorance but what if this bank funds terrorists.
Perhaps the CPA or the millions of other intel analysts would have caught them by now? They were in business before and after the war.

I know.. sounds dumb or may be a long shot but does any one know who this bank really is?

This has been covered time and again. The bank is owned and operated by Mr. Saad Buenia. The Buenia family is a wealthy family that owns a good protion of the industy in Iraq. Try doing a search on Yahoo if you want to know more.

I'm just weeding out all possibilities before I feel comfortable doing this. It took me long enough to just purchase the dinars.

If you dont feel comfortable then dont do it. It is YOUR decision, and yours alone.
Now reading I probably should have opened a bank account to do so.

Eaither way your still o.k. It is the belief of this forum that the currency will not change for a while and all the bank account does is get you earned intrest and more options for investment such as the ISX. If your going to lose sleep over it or expect banking practices similar to that which you receive where you live.... dont do it, unless you want to joing the whiney masses who expect every thing RIGHT NOW.
I hope this was of help to you.

Jerry

[PapaPark]

PapaParkDoes anyone actually know Miss R?

Yes several of us know Ms R. Shes on of the nicest most helpful person I know in the region.
I meant as know formally and not just spoken to her over the phone.



Please excuse my ignorance but what if this bank funds terrorists.
Perhaps the CPA or the millions of other intel analysts would have caught them by now? They were in business before and after the war.
I wasn't aware they were in business before the war. While reading through this thread or another thread about the Warka bank I thought I saw something mentioned about the bank being only a year old. Mis-read on my part.


I know.. sounds dumb or may be a long shot but does any one know who this bank really is?

This has been covered time and again. The bank is owned and operated by Mr. Saad Buenia. The Buenia family is a wealthy family that owns a good protion of the industy in Iraq. Try doing a search on Yahoo if you want to know more.
Thanks.. I'll google it. :D



I'm just weeding out all possibilities before I feel comfortable doing this. It took me long enough to just purchase the dinars.

If you dont feel comfortable then dont do it. It is YOUR decision, and yours alone.
I'm fully aware of that.



Now reading I probably should have opened a bank account to do so.

Eaither way your still o.k. It is the belief of this forum that the currency will not change for a while and all the bank account does is get you earned intrest and more options for investment such as the ISX. If your going to lose sleep over it or expect banking practices similar to that which you receive where you live.... dont do it, unless you want to joing the whiney masses who expect every thing RIGHT NOW.
I honestly don't know what to expect yet and I'm really not losing sleep over it. All I want is to be able to do something with the dinars I hold. Baghdad is pretty far from here... :p



I hope this was of help to you.

Jerry
It was... Thank You

[tazish]

[B]



If your going to lose sleep over it or expect banking practices similar to that which you receive where you live.... dont do it, unless you want to join the whiney masses who expect every thing RIGHT NOW.


Jerry


Beautifully stated!! :lmao: :lmao: :lmao:

[Lux]

If your going to lose sleep over it or expect banking practices similar to that which you receive where you live.... dont do it, unless you want to joing the whiney masses who expect every thing RIGHT NOW.
I hope this was of help to you.

Jerry

You mean to tell me I WONT get a new toaster for opening up a Christmas Club account either!

What kind of BANK is this?!

:lmao: :lmao:

[EyeGuy]

Should I pick wether I want (current or savings) or do I send the letter with both of them. Obviously I would want to earn interest via the "savings" as opposed to not earning any with the "current".

thanks

[Lux]

Should I pick wether I want (current or savings) or do I send the letter with both of them. Obviously I would want to earn interest via the "savings" as opposed to not earning any with the "current".

thanks You should inform them that you would like your money exchanged to your Dinar Savings account if they haven't done so already.

[Maxwell]

I am about to set up my account. Eyeguy are you going to Fedex or email your information? Is there any concern with ident. theft by email? Thanks for your insight.

[Slippery Pete]

Just a couple questions:

I searched for 'Saad Buenia' and 'Buenia family Iraq' on Google, Yahoo!, and Ask Jeeves. None of them returned any results. Is that the correct spelling? Can someone direct me to any sites that give a biography of Mr. Buenia?

Also, if I was to open accounts with Al Warka I would of course want my NID to be in an interest-bearing savings account. But what exactly is a "current account?" Do I have to transfer my USD from the States to a current account, or can I just open two savings accounts (one USD and the other NID)?

Thanks so much.

[bkewl]

Current Account - no interest is applied to account

You need to open 2 accounts (Savings or Current) one account is in USD, the other in ID. You xfer your $ into the USD account then from the USD account into the ID account.

There's much info on this - at the top of the window is a "Search" link <- give it a try :)

[gato]

Anyone have a link to a webite on the Buenia family?

[marathondon]

Has the information that is needed to open an account changed from the very first post in this thread or is it still current? Particularly the verbiage in the authorization letter.

1) Copy of Passport or Drivers License.
2) A letter authorizing Warka Bank to open 2 accounts then exchange USD to IQD.

Is this all I need to send them to open accounts or is there more?

I want to fed Ex my info. Is this still the correct address?

Head Office
Baghdad – Iraq
Hay Alwihda – Sec. 902 – 14th St.
P.O. Box : 3559 Elwiya
Attention Miss R.

How am I notified of my account numbers? US mail or do I need to provide an email address?
How do I get a Visa card once they are issued?

Surely this has been asked hundreds of times but I just want to make sure I use current information.

Also, has anyone identified the U.S. tax code ramifications regarding intrest bearing accounts and having an interest in a foreign bank account?

Thanks and I apologize for any repetitiveness of my inquiry.

MD

[monkeybill]

To open an account at Warka Bank you need:

1) Copy of Passport or Drivers License
2) A letter, as follows, authorizing Warka Bank to exchange USD to IQD on your behalf

I (insert your name) authorize Al-Warka Investment Bank to draw from my Dollar account ( current or saving ) in the above Bank and exchange the Dollar into Iraqi Dinar according to price fixed by the Central Bank of Iraq at that day , and then deposit it in my Iraqi Dinar account at the said bank

(Your Name)
(Your Address)
(Your Signature)

Here's how I sent the above to Warka Bank.

1) Scanned my Drivers Licence and saved as a jpg
2) Typed the above letter, printed it, signed it, scanned and saved as a jpg
3) Created and sent an email to: warkabank@hotmail.com

Insert File - Drivers License jpg
Insert File - Autorization Letter jpg
Body of email contained the following:
Dear Miss R,

Please open a USD and IQD Savings Account with Warka Bank on my behalf. Attached are my Drivers License and Authorization Letter.

Thank You,



Note: There are many alternate methods for creating, scanning, and attaching documents to an email. The most popular are jpg and pdf.

If you follow the above you will not have any problems opening an account. Be patient as Warka Bank is swamped with requests. It took 4 calendar days for my account to be opened.

Current Account - no interest is applied to account
Savings Account - interest is applied

Both accounts can be used to purchase Iraqi Stocks when opened to foreign investors.

Are the above instructions still valid for opening an account. I have followed the directions and sent an e-mail with the required attachments 12 days ago and have not heard anything yet. Is this a normal amount of time to pass without hearing anything? Are there alternate methods to open an account?

[twodogs]

monkeybill....i dont know if the hotmail addy is still valid or not others might have that info. But lately a better email address is c.services@warkainvestmentbank.com
You can go to the banks website http://www.warkainvestmentbank.com/contact_us.htm to verifiy the addy. I have used the c.services addy and had a response in 5 days.
Good luck

[gato]

Can someone give me a link to the post on this forum that had instructions about which stocks to buy on the ISX when Al Warka allows it.


Thanks,
Geoff

[MT Spirit]

http://investorsiraq.com/showthread.php?t=3848&highlight=stock+picks

Start here... or use the "search" link above on every page... and put in "ISX picks" or something like that.... that's all I did! :wave:

PS: is Gato for cat?

[gato]

^Thanks for the info, gato is from omologato

My credit union says they need the Swift Code for the corresponding U.S. housing bank to do the wire transfer. I thought all of the information needed to do this was provided in Mr. T.'s email; which the bank has a copy of. Can someone please help me?


Thanks,
Geoff

[Templecityboy]

^Thanks for the info, gato is from omologato

My credit union says they need the Swift Code for the corresponding U.S. housing bank to do the wire transfer. I thought all of the information needed to do this was provided in Raanda's email; which the bank has a copy of. Can someone please help me?


Thanks,
Geoff
E-mail me and I'll forward all the info. you need to get up and running. Also thank Chaka, it is his info. I'll be forwarding you.

[MT Spirit]

It looks like TCB has already taken care of things for you to be steered in the right direction! Good deal...

I was just going to mention that you do not need the Swift code until you are ready to wire the money to Warka... and my understanding is that... you can't wire the money to Warka until you have your bank account numbers from them... which could take a good while :(

So start with getting your basic info to them to open the account, then they will email or mail you the account numbers.... then.... you can wire the money to your Warka account(s)....

It really isn't as confusing as it may sound... but try to gather all the information you can. These threads go back to last summer..............and that is ALOT of information.

One more thing.... I believe that most members of this forum have decided that it is best not to refer to any persons by their actual name that may jeopordize their safety in Iraq (one never knows????). Some people refer to "Miss R" and I prefer "Miss Warka". Hope we've been of some help to you! Good Luck... and Be very very patient! :D

[gato]

It looks like TCB has already taken care of things for you to be steered in the right direction! Good deal...

I was just going to mention that you do not need the Swift code until you are ready to wire the money to Warka... and my understanding is that... you can't wire the money to Warka until you have your bank account numbers from them... which could take a good while :(

So start with getting your basic info to them to open the account, then they will email or mail you the account numbers.... then.... you can wire the money to your Warka account(s)....

It really isn't as confusing as it may sound... but try to gather all the information you can. These threads go back to last summer..............and that is ALOT of information.

One more thing.... I believe that most members of this forum have decided that it is best not to refer to any persons by their actual name that may jeopordize their safety in Iraq (one never knows????). Some people refer to "Miss R" and I prefer "Miss Warka". Hope we've been of some help to you! Good Luck... and Be very very patient! :D

I already received my bank account numbers from Mr. T. at Alwarka. I gave our friend a code name. :D I thought that my credit union was supposed to pass on my Iraqi account number to the bank in Jordan so they could than wire it to Al Warka. I will hopefully get this sorted out tomorrow with the credit union. :)

[MT Spirit]

I'm sure it will all go well............... I didn't realize you already had your account numbers... when did you send your information in to Warka and how long tdid it take to get an answer back? Good Luck!!!!

[tmay]

I emailed a credit card warka address last night (just to see if they would reply) and got a reply this morning to contact our person at the Bank for new accounts at a different email address than what I had for new accounts :huge: I dont know if I can post it so PM me and I will give it to you, or a Moderator can let me know if I can post it. It is on there web site.

[gato]

I'm sure it will all go well............... I didn't realize you already had your account numbers... when did you send your information in to Warka and how long tdid it take to get an answer back? Good Luck!!!!

I sent the wire transfer today at 1:00 pm. I chose to go through US Bank instead of the credit union. I had to have a big long talk with the branch manager before she would send the transfer. Apparently, the big banks have been under investigation because of the Patriot Act in regards to international money laundering. The national US Bank Money Laundering department had my banker check my account history to make sure there wasn't any shady activity going on.

Anyway, after an hour and a half she finally made the wire transfer. I think I was hassled more because I'm younger, but I do feel better knowing that my bank knows what is going on and that I am not shady.

BTW: It took 2-3 weeks to receive my account numbers from Al Warka.

[gato]

Hey guys, I haven't heard back from Miss R about receiving my wire transfer. Has anyone heard from her recently?

[Spinach Muncher]

Hey guys, I haven't heard back from Miss R about receiving my wire transfer. Has anyone heard from her recently?

After reading previous posts, seems like the process takes a week or so, if not more.

Good Luck!!!!! :huge:

[jking402]

I just sent my request to open an account. We'll see.

[Aunt Gwennie]

TO all seasoned and new IIF members!!!

Many of you are new to the forum and are researching how to open bank accounts with Warka. Please note that the Yahoo and Hotmail email addresses are no longer valid contact information for the bank. Please click onto the new bank website for the latest and up to date contact information for setting up your new accounts. Please note: our previous contact Miss R is no longer the person you contact to set up your new accounts....she is now in charge of the ISX accounts.

http://www.warkainvestmentbank.com/contact_us.htm

Good Luck to all and Happy Investing!!

Aunt Gwennie

[Dinaress]

good job Aunt Gwennie!

[ISX_TIME]

TO all seasoned and new IIF members!!!

Many of you are new to the forum and are researching how to open bank accounts with Warka. Please note that the Yahoo and Hotmail email addresses are no longer valid contact information for the bank. Please click onto the new bank website for the latest and up to date contact information for setting up your new accounts. Please note: our previous contact Miss R is no longer the person you contact to set up your new accounts....she is now in charge of the ISX accounts.

http://www.warkainvestmentbank.com/contact_us.htm

Good Luck to all and Happy Investing!!

Aunt Gwennie

Is Miss R. still the one who will verify our deposits sent to Warka ?

If not do you have an email address for the perosn who does ?

Thank You

[Templecityboy]

Is Miss R. still the one who will verify our deposits sent to Warka ?

If not do you have an email address for the perosn who does ?

Thank You
No, check the website and you will see they have updated their information. This is a good sign that they are adjusting their approach to the large influx of account holders and prospective account holders. :happy26:

[gato]

Hey guys I sent my wire transfer April 5th and I just got this response from Al Warka.

"Dear Mr.Geoff,
your wire transfer till now didn't receive.

B.R
Lamees"

What do I do? I have a letter from my bank saying that they sent the money to the housing bank. (Note I will pull this number off here pretty soon, but I just wanted to show where it was sent to).

BTW: My bank spelled my last name wrong on the wire transfer, but I think it would still be fairly easy for Al Warka to recognize that it was me.

[Aunt Gwennie]

good job Aunt Gwennie!
Thank Chaka as well...he's the one who brought it to my attention and suggested it needed to be posted. The info was also posted as a "sticky" on a new thread link under Bank Accounts so that this updated info will stay at the top of the Bank Account list.

Aunt Gwennie

[Lux]

Looks like Warka is re-organizing their service end. Hopefully we see immediate results.

[Drew]

I sent my request by e-mail on 4/27 and I recieved my account numbers by return e-mail in less than 24 hours.

Is that a record or what?

[MEALTICKET]

Drew that sounds good but did you send the bank wire or western union to the Jordan Bank for a Al Warka account first? Or did you send the them a letter requesting a account w/ your signing and photo ID?
I can't just up and money across the water with out a account numbers. Although I have sent the letter requesting my account and photo ID!

[Drew]

I got my account numbers first after sending my info. I wired money last week, waiting to hear back from them.

[Spinach Muncher]

Warkaa account numbers for my brother in less than 1 day!!!!!!! They are HOT!!!!!!! :happy64: :happy64:

[YakYak]

Not clear on how to wire transfer? I have my account numbers .Can someone explain best method and how its done? Thanks in advance. Ronnie

[mikexx]

Hi,
Is it better to open a current od Savings account.

Thanks

[mikexx]

Hi,
Sorry guys I meant (or)
Is it better to open a current or Savings account.

Thanks

[BlueLake]

Did someone say HSBC Bank ?
Anyone know which banks or their websites, for banks in Iraq.
Is it now legal for us to have a account with them?
Thanks

[Spinach Muncher]

Hi,
Sorry guys I meant (or)
Is it better to open a current or Savings account.

Thanks

A current account is another name for checking. No interest for a current account vs. 6% interest for a savings...you decide. ;)

[CatSuga]

Is there a minimum deposit? :rolleye03

*Recap: so i open 2 accounts, 1 in USD and the other in IQD, wire $$$ to the USD account then transfer $$$ to the IQD account right? :o

[BRYAN]

Is there a minimum deposit? :rolleye03

*Recap: so i open 2 accounts, 1 in USD and the other in IQD, wire $$$ to the USD account then transfer $$$ to the IQD account right? :o


you can have an unfunded account for 6 months Then it will be closed ..

I believe there is a $50 min deposit for the US dollar account & $1,000 nid for the IQD accounts ..

The current account does not give an intrest payment ..

The Savings account does.

You can fund your ISX purchases from either account... when we are permitted to trade ....


hope this helps ... :huge:

[CatSuga]

Excellent!
I'm so overjoyed I want to cry. :crying:

[Spetsnaz op]

you can have an unfunded account for 6 months Then it will be closed ..

I believe there is a $50 min deposit for the US dollar account & $1,000 nid for the IQD accounts ..

The current account does not give an intrest payment ..

The Savings account does.

You can fund your ISX purchases from either account... when we are permitted to trade ....


hope this helps ... :huge:

Please clarify - Min Balance is 1000 dinar for IQD accounts??? or 1000 dollars?

[Kim]

At Warka,

You need only 100 US dollars to open an account.

[tmay]

I sent $235 USD (W.U. online) and when she recieved it she put all of it in my IDQ account, I emailed and asked her to deposit the minimum in my USD account to keep it open and she said she would transferred $1 dollar to keep it open. I thought it was $100 min. but Miss R handled it so I trust she knows. (that made me happy) Also made me happy to see the transfer from IQD to USD, the rate was lower but only buy a few IDQ.

tmay

[leggs]

I'm not sure for the reason to have a account in Iraq ? Do you get a ATM card to withdraw the interest you earn in the U.S.A.? Or is it to be able to buy the ICQ at a lower rate or what?Every day on E-bay there are hundreds of people are selling it here. That's alot to do for 5% interest when you can get 15%-30 % offshore around here. Please tell me what im missing or what im in the dark ? thanks Leggs

[grimly]

Hi,

Been watching the list for a year. This my first posting.

In the first week of this month (June 2005) I opened both USD and IQD accounts with Warka Investment Bank. I wired money from Commerce Bank to Warka, through Jordan on June 8, 2005. I've sent a couple of emails to Warka to find out if they have received the wire. Neither of them were replied to!

I'm getting nervous. Any ideas on what to do?

Regards,
grimly

[bottlebush]

Hi,

Been watching the list for a year. This my first posting.

In the first week of this month (June 2005) I opened both USD and IQD accounts with Warka Investment Bank. I wired money from Commerce Bank to Warka, through Jordan on June 8, 2005. I've sent a couple of emails to Warka to find out if they have received the wire. Neither of them were replied to!

I'm getting nervous. Any ideas on what to do?

Regards,
grimly
Be sure to check your Bulk mail. It usually ends up there.
Ya know. where you get all that Junk mail

[grimly]

Be sure to check your Bulk mail. It usually ends up there.
Ya know. where you get all that Junk mail

I've been checking the bulk/junk folder everyday. --No luck there either.

[IraqiFreedom]

I've been checking the bulk/junk folder everyday. --No luck there either.
I already have a warka account but have had no luck contacting warka for several months. I'm beginning to wonder if my isp is filtering mail from Iraq. I'm using charter as my isp. I have another mail system that does not rely on charter... I'm going to give it a shot.

[trusteDINARisk]

Hi,

Been watching the list for a year. This my first posting.

In the first week of this month (June 2005) I opened both USD and IQD accounts with Warka Investment Bank. I wired money from Commerce Bank to Warka, through Jordan on June 8, 2005. I've sent a couple of emails to Warka to find out if they have received the wire. Neither of them were replied to!

I'm getting nervous. Any ideas on what to do?

Regards,
grimly

Patience. I went through the same situation last month. It took almost exactly 4 weeks for them to receive it & confirm with me. I sent them 6 emails during that time, but only had 2 replies. The first one was a week after & they stated they hadn't received it yet. The second was the confirmation of receipt. I, too, submitted a post & received a reply from one member who stated she had the same experience. So, rest assured, there is nothing out of the ordinary about this. In the future, however, I probably will do WU rather than wire xfr, since they receive that much quicker. Hope this help. :D

[grimly]

Patience. I went through the same situation last month. It took almost exactly 4 weeks for them to receive it & confirm with me. I sent them 6 emails during that time, but only had 2 replies. The first one was a week after & they stated they hadn't received it yet. The second was the confirmation of receipt. I, too, submitted a post & received a reply from one member who stated she had the same experience. So, rest assured, there is nothing out of the ordinary about this. In the future, however, I probably will do WU rather than wire xfr, since they receive that much quicker. Hope this help. :D

Thanks for the reassurance. I don't think Warka would have half of the U.S. accounts without this forum. In these internet instant times I'm used to being able to see my accounts online and transfer money instantly from account to account. Guess I'll have put those expectations on ice for this venture. :cool:

[grimly]

Hi,

Been watching the list for a year. This my first posting.

In the first week of this month (June 2005) I opened both USD and IQD accounts with Warka Investment Bank. I wired money from Commerce Bank to Warka, through Jordan on June 8, 2005. I've sent a couple of emails to Warka to find out if they have received the wire. Neither of them were replied to!

I'm getting nervous. Any ideas on what to do?

Regards,
grimly


:happy64: I'm happy to report I received a reply TODAY! The wire was a success. Also, I decided to do a conversion at: http://www.oanda.com/convert/classic ....and if you convert the Dinars in my account back to dollars, I have $85.71 more than I sent over (today's conversion). I may have less tomorrow. I'm not going to check it to often because I'm in it for the long haul. :happy64:

[jleigh]

Ok. I've been reading all the posts and I've checked out Warkaa's website. From all my research, I think this seems like the safest way to invest I've found. I read that some of you have received transfers back to your US accounts, but they all seemed to be in small amounts. Has anyone tried to convert IQD back to USD and wire back to US accounts in larger, more significant amounts? If this is not, by some chance, legitimate, it seems it would be easy to wire back $10 to keep you convinced. I'm ready to go today if I get an answer to this question. Also, I'm really happy I found this site and all the great info. Thanks to all those that did the hard work.

[sogrgirl]

I don't know if anyone has had large amounts sent back, and the few small transfers were test runs, it costs $$ for each transfer, that's why I haven't done it. I am trusting that this is going to work, gambling would probably be a better word!

In september they will have online access and ATM cards. wish I had better answers, I just came in to take a peek before trying to get some sleep. I have been having dinar/forum dreams all week. be prepared!

:wave:

[TimP]

jleigh

Welcome aboard the dinar train :wave:

I believe that a member had $2500 converted and then wired back to him/her some months ago.....remember seeing a post but haven't located it yet...

[TimP]

Post was made 05-25-2005 by atwnsw:

For those investors who are nervous about sending money to Warka, I had invested more than my comfort level a couple of months ago.

For this reason, I took some of the money out of my account and received a wire transfer today in my U.S. Bank from my Warka account in the amount of $2,300.

It took about 2 Weeks from beginning to end but it worked.

I will sleep better !

--------------------------------------------------------------------------------
Last edited by atwnsw : 05-25-2005 at 03:16 PM. Reason: improper wording

[buck74]

I am wondering when you notified Warka that you wanted to wire money back to the US did you e-mail your request or did you send them a written request like with FedEx. I was actually hoping for security reasons they will require a signature that could be verified against the original signature when the account was opened. I was also wondering if an agreement could be made with them to only wire funds to original account that the funds were wired from. This would help prevent any kind of identity theft. We seem to be having a huge problem with identity theft here now, and all of the Warka stuff has happened over unsecure e-mail. I know this has been discussed before, and the signature is the big thing, and additional security is supposedly coming by Sept 1, but with all the bad news about identity theft it is worrysome. Thank you.

[Triem1]

Hey Y'all,

I am new to this forum , very good info here.

I was just wondering why we should open an account in Al-Warkaa Bank?

I have a few IQD and am looking for the best way to "cash-in"

Thank you

[buck74]

Really to big a question to reply to. Please just click on the bank thread topic, lots of great reading!

[jleigh]

Buck74, I haven't opened an account with Warka. I wanted to know if anyone had actually done everything and that it all worked before I went ahead. Do you have an account? It looks like all the people that were opening these accounts did so a year ago. Is there anyone that has opened an account very, very recently, like this month? I just sent an email to Warka yesterday and of course I won't hear anything until tomorrow. If I have luck, I'll of course post all the details here. The concern about the bank requiring a signature could be solved when they have online access available. I don't have to do anything in person or on paper with my bank in the states anymore. I do everything online.

[buck74]

I have had my account for about six months, I have wired money five times. Many people have opened accounts recently, as far as I know everything has gone fine. To my knowledge no one has ever lost a cent with Warka. The biggest knock against them is they are sometimes slow in responding, especially to e-mails. They are hopefully going to be completely on-line by Sept 1.

[jleigh]

How did you hear they're going online in September. I've been all over their website and I can't find a date - just a list of services they plan to offer. Also, I heard from a coworker that one of our employees saw HSBC going up inside the Baghdad airport. Anyone know anything about this?

[buck74]

The new services on Sept 1 has been discussed here on the forum a lot, you should be able to find threads about this if you click on Warka Bank threads. I used to be on the web site, because I saw it, but the web site underwent a big change recently so maybe it did not get put back on it.

I was reading after my last post and it there is one thread about people not hearing back from Warka about opening accounts, and they are worried they may have missed the opportunity, you should read this. I was not aware of this when I made my previous post. Good luck.

[Tinydancer]

Region |

Published: 25/6/2005, 06:52 (UAE)

Arab banks put squeeze on terror funds

Reuters

Frankfurt: A US official urged Arab bankers yesterday to step up the fight against terrorist financing, but some insisted they were already taking adequate steps or played down the existence of the problem. "Simply put, if we stop the money from getting to terrorist organisations and operations, we can stop terrorism from happening," Chip Poncy, senior adviser at the US Treasury, told a conference of Arab and European bankers in Frankfurt.

"I know it's naive to think that we're going to be successful 100 per cent of the time, but we can and we are making a difference," he said.

Poncy praised efforts by Egypt, Lebanon and Gulf states to tackle money laundering and terrorist finance and called for further steps across the region to improve record-keeping and checks on customers, as well as investigation and prosecution.





http://www.gulf-news.com/Articles/RegionNF.asp?ArticleID=170296

************************************************** ********

I am sure Warkaa fits under "banks".....


I wonder if they are done investigating me...can I have my accounts now?

[aldavis12]

It is self explanatory regarding the transmission of the driver's license and authorization letter. But when and how do you send/wire them the dollars to deposit?

[pchav]

I sent a Western Union money transfer on 7/2/05 and have confirmed that the money was picked up on 7/4/05. However, I have not received a confirmation that it has been deposited in my Iraqi Dinar account yet. I have sent an email to Farah at Warak each day asking that she confirm that the money has been deposited, but she has not responded. Can someone tell me if this is normal? Has anyone had trouble with this bank misapplying the funds into another account? Do you have any suggestions for me?

Thanks,

pchav

[Tinydancer]

send it to...R and N and F again.....

all three at the same time with the same letter...keep us posted..

[pchav]

Thank you for your replies. I have already followed all of these steps a few times. I do not understand why they haven't responded to me. This was a new account and is the first time that I am attempting to fund it.

Has anyone tried to call Warka Bank in the past? Is there anyone there that speaks good English that would be able to help me determine if this has been deposited? Please let me know. Thanks for the help.

pchav

[nomeoj]

Hello everyone,

Seems Dinars is the buzzing word of this forum. :)

Im very happy to be a part of this group.

I am interested in investing in IQD. I am from India.

Can anyone with your contacts let me know how to open an account & invest.

Hope everyone would help this new comer.

Thanks - Joe

[buck74]

Welcome - you just need to read this thread, also other threads in the bank section. We do have people on the forum in Iraq, but we have all pretty much opened our accounts through the internet. Just follow the directions on this thread. I pays to do lots of reading, there is tons of information on this forum. Good Luck! :lmao:

[nomeoj]

Buck,

Had a question. Can I open an account from India?

If its an yes, than great. If yes how do I go about this.

I saw the application formats etc.

Do I email the passport copy & letter format to the bank?

Which would be a good bank to open an account? Your suggestions!

Do I have to talk to someone there since its an account from India?

Do I have to pay anything to open 2 accounts in the banks?

Sorry for troubling everyone in the forum. Hope everyone can help me open an account.

Pls feel free to email me : nomeoj@gmail.com in case you have any suggestions.

I can purchase it from Amer. Will he deposit it to the new Bank Account I open?

Awaiting the forums response either here or in my inbox : nomeoj@gmail.com

Thanks - Joe

[boostd4]

Is anyone here at all concerned about identity theft?

What's to keep any of these bank employees from selling our identification info (a lot of DL's have SS#'s on them), to bad people?

It's not like it's a secure server.. .It's hotmail for pete's sake... my 9 year old nephew can intercept hotmail...

[TimP]

It's all a risk....no more than the teller at your local bank doing the same thing...when ya think about it... :wave:

[pchav]

I am confused. I have not used a hotmail address to communicate with the bank. The email address is c.services@warkainvestmentbank.com. I certainly hope this is the correct address, because this is how I have been communicating with them. If not, I have been giving all of my information to a stranger.



Is anyone here at all concerned about identity theft?

What's to keep any of these bank employees from selling our identification info (a lot of DL's have SS#'s on them), to bad people?

It's not like it's a secure server.. .It's hotmail for pete's sake... my 9 year old nephew can intercept hotmail...

[baz]

i have just applied for a warka bank account, my address to return e-mails wasent a HOT MAIL address! dont all HOT MAIL address have HOT MAIL in the line? if they dont we are all in trouble.. as bad as all the internet fraud is, somehow we have to trust someone.. how the hell we going to do any business other wise?.. any ideas some one must know? help!

[Wildbill]

I went to

http://www.warkainvestmentbank.com/contact_us.htm

And have sent an inquiring email to a Mrs. A @

c.accounts@warkainvestmentbank.com

As the Warka website states Mrs A is incharge of setting up new acounts. We will see.
Since we can no longer buy Dinars from the dealers I guess we now have to trust a Bank.

To be honest I am less hesitant wiring funds between banks as opposed to giving our CC info, sending out Cashiers checks and waiting for packages to arrive via mail in brown unmarked envelopes from some place in the Middle East

[baz]

the only real problem it seems with warka bank, in the short amount i have had to do with them you allways seem to get a different person every time, how many work here? all of baghdad it seems. must be down to amount of accounts they are opening!.

[BAMABOY]

i have just applied for a warka bank account, my address to return e-mails wasent a HOT MAIL address! dont all HOT MAIL address have HOT MAIL in the line? if they dont we are all in trouble.. as bad as all the internet fraud is, somehow we have to trust someone.. how the hell we going to do any business other wise?.. any ideas some one must know? help!

What a previous poster said was confusing to some of you. Back when many of us were first opening accounts at Warka they did indeed have a hotmail address as one of their e-mail addresses. This has long since changed with Warka's update of their website. The contacts page on their website has all the current addresses to use. :happy26:

[phillip]

Got my Warka Account numbers today !!!!
Marilyn,

Could you send me information that you have telling me how to open an account and deposit the dinar that I currently have into it. I am currently in Baghdad if you could send information on how that could help the process. Thank you.

Phillip

[Gorski]

And what about take over, in the near future when i will have wanted my dinars exchanged in dollars and have it send back to me.?

Igor

[Tinydancer]

Marilyn,

Could you send me information that you have telling me how to open an account and deposit the dinar that I currently have into it. I am currently in Baghdad if you could send information on how that could help the process. Thank you.

Phillip

http://www.warkainvestmentbank.com/

Welcome to IIF Phillip.... :p