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View Full Version : 14-month appointment of stabbing Warka Bank against the decision of the tutelage of t



Hue Mi
04-02-2013, 03:54 PM
13:02 2013-04-02

14-month appointment of stabbing Warka Bank against the decision of the tutelage of the Central Bank (http://www.alrayy.com/78401.htm)

http://s2.alrayy.com/alrayy/images/78401.jpg

BAGHDAD - babysit - said President of the Trusteeship Committee on the Warka Bank in CBI Salem chopsticks "identify the fourteenth of this month as the date to consider the appeal made by the bank against the guardianship decision taken by the central bank against him."

He said in a press statement that "the Financial Services Tribunal acknowledged that the tutelage of the Central Bank of the Warka Bank is correct, but that the list of the appeal made by the bank to the Court of Cassation overturned the decision of the Court of financial services because he claimed that the central bank did not provide the necessary facilities to him as the Ministry of Finance withdrew deposits him and therefore a distinction taking this regulation."

He stressed that "the central bank is better earlier in the bank to pay 200 billion dinars at the end of last year, or that he would be subjected to liquidation, but the Warka Bank said he could not pay that amount but will pay 150 billion in the form of payments, did not take the central bank thus introduced a request to the court the basis of the declaration of bankruptcy of the bank, adding that the matter now in the court of financial services to look again because the issue of bankruptcy pending in this case" ... p / i

manwithnoname
04-02-2013, 04:12 PM
So it looks like the saga continues but still not looking totally in our favour if my reading is correct. Perhaps 'Babs' could help out and translate if he's out there somewhere. It would be much appreciated if he could.
MWNN

Will-it-happen?
04-02-2013, 04:18 PM
is it not the case that warka offered 200billion over 6 months instead of 150billion all at once ?

HumbleGenius
04-02-2013, 07:07 PM
So it looks like the saga continues but still not looking totally in our favour if my reading is correct. Perhaps 'Babs' could help out and translate if he's out there somewhere. It would be much appreciated if he could.
MWNN

Lets put it this way. Not looking good in any way shape or form in regard to stockholders.

"declaration of bankruptcy of the bank, adding that the matter now in the court of financial services to look again because the issue of bankruptcy pending in this case"

ISX Junkie using Aljazera
04-02-2013, 07:39 PM
Bunnia is a crook

Kickabuck
04-02-2013, 11:52 PM
I gave up on Warka shares long ago...there is no bad news for me. I do like the translation...chopsticks...anyone hungry? :)

Kickabuck
04-02-2013, 11:57 PM
And you have to love the title of this...STABBING WARKA BANK...eeek eeek eeek... right out of Psycho.

p.s. Iraq needs foreign investors, please send money...we have to feed grandma upstairs! eeek eeek eeek :)

chakkarchee
04-03-2013, 12:09 AM
Bankrupting a bank is a financial curse and on top of a bank where mostly foreign investor's money is sitting and country is dying for foreign investment, most likely warka will come out of it just a matter of time, not that I recommend this bank to any one.

seadesk
04-03-2013, 12:50 AM
Has anyone here on the forum recently transferred dinars out of Warka into another Iraqi bank, or exchange, such that they could then purchase stocks through the "new" entity, sell them, and then redeem?

ISX Junkie using Aljazera
04-03-2013, 01:06 AM
Has anyone here on the forum recently transferred dinars out of Warka into another Iraqi bank, or exchange, such that they could then purchase stocks through the "new" entity, sell them, and then redeem?

Transfer dinars out of Warka? No you cannot do that at this time. You can however transfer ISX shares out of Warka which I have done. You need to open an account with a different broker. I reccomend Aljazera but you will have to be willing to wire over $10,000 to open the account. I borrowed some funds to do this. Wired it over, bought shares in one day, sold the next, and wired back to me within 1 week! Once your new brokearge account is open, they will transfer your shares out of Warka. Even the delisted stock Al-Quma for Financial investment (VQUF) was transferred for me :). Warka shares however cannot be transfered due to the current sitaution, but who realy cares anyway, Bunnia is wiping his butt with them.

seadesk
04-03-2013, 03:38 AM
Transfer dinars out of Warka? No you cannot do that at this time. You can however transfer ISX shares out of Warka which I have done. You need to open an account with a different broker. I reccomend Aljazera but you will have to be willing to wire over $10,000 to open the account. I borrowed some funds to do this. Wired it over, bought shares in one day, sold the next, and wired back to me within 1 week! Once your new brokearge account is open, they will transfer your shares out of Warka. Even the delisted stock Al-Quma for Financial investment (VQUF) was transferred for me :). Warka shares however cannot be transfered due to the current sitaution, but who realy cares anyway, Bunnia is wiping his butt with them.


Thank you:

I have quite a lot of ISX stocks (in my good name) and unspent dinars at Warka. It's time I do something other than another fools run.

My best to you.

ISX Junkie using Aljazera
04-03-2013, 06:18 PM
[QUOTE=seadesk;3685]Thank you:

I have quite a lot of ISX stocks (in my good name) and unspent dinars at Warka. It's time I do something other than another fools run.

My best to you.[/QUOTE

I planned on leaving Warka late last year. The last straw for me was when Warka would not purchase Asia Cell shares for me. I am glad you have decided to take action as well. Sitting around and waiting for Warka to come out of this doesn't seem to be much of an option for anybody anymore. I wish that I could say better things about Warka but there is nothing to say as of late. The ISX website lists all the available brokers if you are looking for other options. My best to you as well.

ComingtoDinar
04-03-2013, 06:28 PM
I would love to buy more Warka stock. The Shiite hold on the bank won't last much longer and the most friendly and fastest growing and most technoloicly advanced bank in Iraq will be back. I think Bunnia's hands have been tied and he has been looking at the best interest of the bank. He is basicly dealing with terrorists and if he would have given them the money then they would have taken it and still shut him down and used it against him. The government cannot run a bank better than the private sector. Hopefully I will be picking up a lot of the shares of some of the discontented at a cheap price when this thing goes back on the isx.

seadesk
04-03-2013, 09:57 PM
I would love to buy more Warka stock. The Shiite hold on the bank won't last much longer and the most friendly and fastest growing and most technoloicly advanced bank in Iraq will be back. I think Bunnia's hands have been tied and he has been looking at the best interest of the bank. He is basicly dealing with terrorists and if he would have given them the money then they would have taken it and still shut him down and used it against him. The government cannot run a bank better than the private sector. Hopefully I will be picking up a lot of the shares of some of the discontented at a cheap price when this thing goes back on the isx.

ComingtoDinar:

I think what you said could be right on.

Certainly I want Warka to succeed but the nonstop obstacles seem overwhelming. In the meantime, they are not behaving like a professional bank by any measure as far as I can tell. Even if Bunna's hands are tied he would do well to indicate what's actually going on, and why, and offer his apologies to his investors (even just a few accurate words). The thing is that I hold greater respect for the man than he does me and that ought to be the other way around.

Warka refers to "my good name" during transactions, which I accept. What I'd really appreciate is a stronger showing of "their good name" by more forthright and appropriate communication.

I wish Mr. Bunna would offer me a position at Warka so that I could help him out with international relations!

haggisbasher
04-06-2013, 12:22 PM
????What tribunal is Warka bank going to on the 14thApril,thought this was over with already, what next could someone explain. THX.