Which Bank??

[Mike101]

I too have opend my accounts with Warka Bank, I was just about to wire funds to it and a few last minute doubts have popped up.

Why are we all using Warka and no other banks?? (My answer to that question is that no other bank aswered my emails!)

Why are our emails being replied to from a hotmail account when on the http://www.alwarkabank.com contact us page it lists the email address as warkabank@alwarkabank.com

I have sent Rhandda an email earlier today asking:

How can I check my account balance?
Do you know if/when there will be an electronic/online baking system?
Is there a telephone number I can contact you on? I know you must be very
busy replying to all these emails!
Can all authorising letters requiring a signature be sent to you via email?
When the ISX opens for foreign investment will it be you that handles my
transactions or another contact?
Will you hold share certificates or will they be sent to me?
How difficult is it to transfer US dollars from my account back to the UK?
Will you be sending reports of activities on the ISX?

These things I would like to know before parting with money.

Deep down I have a niggling worry that as all our contact is with some one with a hotmail address how do we even know they have any affiliation with Warka bank?

I have sent NBK and email asking about there services, they offer accounts in other currencies, I'd like to know the Iraqi Dinar is one of them.

I don't want to bring anyone down (I am still very excited at this oppertunity) and I know I seem paranoid, I'd just like to make sure I (we) are not being scammed at the other end.

[fsm75]

Mike:

Many of us are coming up with the same concerns as well.

[ScotFree]

I know it's no justification but the hotmail address is listed as the contact address on http://www.iraqcoalition.org/economy/iraq_private_banks.html

[sirdido]

Personally I would not send money, to anything that has a hotmail address as a contact. A bank would not have a hotmail contact. That is pure SCAM.

Havn't you seen all the emails that look exactly like a legitamate bank in your hometown, but if you actually right click and look at the links properties or even the GIF picture's properties they go to some obscure server somewhere.

Just waiting for your money, before being shutdown and moving onto the next server/sucker....

[jayboz]

I noticed most all of the banks have a hotmail or yahoo address. Could this be because they don't have a stable web server to depend on? Just guessing!? I am also hesitant to wire money to any bank other than NBK. Seeings how NBK is a secure and stable bank do they know anything about Al-Warka and/or any other banks in Iraq? Just grasping at straws to find a good way to buy into the ISX. Any ideas? :confused:

[jayboz]

Just a FYI! I have emailed every branch of NBK (from NY to Kuwait to Paris) and have not received one reply to any of my emails. So I guess that was a dead end. I guess I could call them. Will let you all know what I find out! :confused:

[kujikiri]

Hi, been lurking inthis forum for a while and finally decided to get into the conversation.

I spoke with a rep of NBK (NY office) for a bit yesterday. They currently do not offer currency accounts in Iraqi Dinars and will not offer them outside of Iraq until the currency is traded on the world market. Same answer I got from both banks I called in the Caymans. The NBK rep told me that he heard they might be setting up shop in Iraq, but nothing definate (probably just a safe answer there) and would be glad to help me set up accounts at that time. When I called I had told him I was considering doing business in Iraq with the coalition, but was hoping to have a dinar account in a more secure location.

I have (like all of you probably) been all over the web trying to find info on how to do this and this forum has the only real complete info on bank accounts that i can find (well, as complete as it seems to get at this point). Since this is my 1st post id like also to take the opportunity to thank the few of you who have put in a lot of work and are brave enough to be first to fire off some cash and tell your story here.

[danpeg]

Thank you kujikiri, Welcome to Investor's iraq!

[Marilyn]

Thanks for registering and sharing your thoughts.

Stay tuned... the saga continues... :wave:

[Marilyn]

Thanks for emailing the list of questions to R, we all have those same questions and can get the answers quicker and easier if only one person asks them...

Rather than 200 eamils from all the members. Please post the answers, once you get them. On T&B someone said if you call and say "english" and ask for her by name, you can talk to her. Haven't been able to confirm it tho.


I made a small wire transfer to see how it goes.... we can track it together. ;)

[jayboz]

Thanks for your input kujikiri and welcome aboard! Is there any other banks than Al-Warka that we know we can wire money too? Just looking for a possible safer route than Al-Warka. Anybody got any input? Thanks!
:rolleye03

[Mike101]

I too have opend my accounts with Warka Bank, I was just about to wire funds to it and a few last minute doubts have popped up.

Why are we all using Warka and no other banks?? (My answer to that question is that no other bank aswered my emails!)

Why are our emails being replied to from a hotmail account when on the http://www.alwarkabank.com (http://www.alwarkabank.com/) contact us page it lists the email address as warkabank@alwarkabank.com

I have sent Rhandda an email earlier today asking:

How can I check my account balance?
Do you know if/when there will be an electronic/online baking system?
Is there a telephone number I can contact you on? I know you must be very
busy replying to all these emails!
Can all authorising letters requiring a signature be sent to you via email?
When the ISX opens for foreign investment will it be you that handles my
transactions or another contact?
Will you hold share certificates or will they be sent to me?
How difficult is it to transfer US dollars from my account back to the UK?
Will you be sending reports of activities on the ISX?

These things I would like to know before parting with money.

Deep down I have a niggling worry that as all our contact is with some one with a hotmail address how do we even know they have any affiliation with Warka bank?

I have sent NBK and email asking about there services, they offer accounts in other currencies, I'd like to know the Iraqi Dinar is one of them.

I don't want to bring anyone down (I am still very excited at this oppertunity) and I know I seem paranoid, I'd just like to make sure I (we) are not being scammed at the other end.

I had to send that email twice to get this reply:
Dear Mr. Saint ,
Thank you for your e-mail dated July 29, 2004 .
The Swift Code of Warka Investment Bank is : WAIVIQBA .

Our address is :

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

Tel: : 00964 1 7170271

When you need account balance just inform me and I'll draw it and send it
for you ( but its in Arabic only ) .
You can send the authorizing letter by e-mail always .
There will be no difficulties in transferring US Dollars from your account
to UK just send an authorizing letter to draw the Dollars and transfer it to
you in UK .
The other questions , I'll answer it letter .
Best regards .


R


This may be completly irrelavent, but has any one else notice that she changes the spelling of her name in her emails?? (I'm a naturally paranoid person).

[Aunt Gwennie]

Iraqi Private Banks Authorized to Conduct International
Payments, Remittances and Letters of Credit

Just wanted to pass this along for information sake. These email addresses are coming straight off the old cpa website. Here's the link.

http://www.cpa-iraq.org/economy/iraq_private_banks.html

[IrishNight]

Hello All,

I just joined yesterday evening and think that this is the most informative site in regards to Iraq speculation. I do have a few questions:

1) Has anyone succesfully opened an interest/return bearing account?

2) If so, where and what is the intrest rate?

3) Is the deposit secured or insured?

4) Do any of the banks confirm through SWIFT that you have a deposit?

I greatly appreciate any and all responses. :lmao:

[IrishNight]

Thanks Tony. What's your opinon in regards to Al Warka, and the accounts? :wave: