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View Full Version : Warka bank - customer portfolio evaluation - missing equity and market values



seadesk
07-08-2013, 07:55 PM
IIF Members:

I just viewed and downloaded my Warka ISX portfolio evaluation a few minutes ago and for some reason(s) all of the "Equity Market Value" and "Market Value" column cells are empty - therefore my "Unrealized P/L" is negative to the same amount as my positive "Net Amount."

Obviously, without the market value data included in the portfolio evaluation spreadsheet I don't have any idea of my P/L (at least not based on the spreadsheet provided by Warka).

I have not experienced this situation previously.

Anyone else?

:confused:

Kickabuck
07-09-2013, 12:24 AM
IIF Members:

I just viewed and downloaded my Warka ISX portfolio evaluation a few minutes ago and for some reason(s) all of the "Equity Market Value" and "Market Value" column cells are empty - therefore my "Unrealized P/L" is negative to the same amount as my positive "Net Amount."

Obviously, without the market value data included in the portfolio evaluation spreadsheet I don't have any idea of my P/L (at least not based on the spreadsheet provided by Warka).

I have not experienced this situation previously.

Anyone else?

:confused:
It's never been accurate for me...it's under construction, it will be fixed soon.

dinar shore
07-09-2013, 04:40 AM
It's never been accurate for me...it's under construction, it will be fixed soon.

Hey Kick, I've misplaced my password to my Warka account. After I sent an email requesting the procedure to access my account, Warka responded and said they required a
scanned and signed letter from me but then said they would debit my Warka savings account for 15,000 IQD. I think this is a really high fee because Warka / ISX lowered their fee for a updated stock portfolio (I think they charged me 2500 dinar) for the service that they used to charge 15,000 IQD. Have you experienced this charge change? Thanks.
dinar shore

tipawin
07-09-2013, 09:56 AM
Hey Kick, I've misplaced my password to my Warka account. After I sent an email requesting the procedure to access my account, Warka responded and said they required a
scanned and signed letter from me but then said they would debit my Warka savings account for 15,000 IQD. I think this is a really high fee because Warka / ISX lowered their fee for a updated stock portfolio (I think they charged me 2500 dinar) for the service that they used to charge 15,000 IQD. Have you experienced this charge change? Thanks.
dinar shore

My experience is that it always has been 2500 dinar isx report and 15000 dinar for annual password fee since 2007

tmorr37
07-09-2013, 02:41 PM
yeah, 15000 dinar = $12.85 USD

dinar_dude
07-09-2013, 03:54 PM
Also, don't expect the stock portfolios that you can request from Warka to be accurate. Most of my stock holdings were accurate with some mistakes. Just write Warka back highlighting the discrepancies and they'll fix and resend.


IIF Members:

I just viewed and downloaded my Warka ISX portfolio evaluation a few minutes ago and for some reason(s) all of the "Equity Market Value" and "Market Value" column cells are empty - therefore my "Unrealized P/L" is negative to the same amount as my positive "Net Amount."

Obviously, without the market value data included in the portfolio evaluation spreadsheet I don't have any idea of my P/L (at least not based on the spreadsheet provided by Warka).

I have not experienced this situation previously.

Anyone else?

:confused:

seadesk
07-09-2013, 07:06 PM
I'll piece something together and send in my request to Warka.

Kickabuck
07-10-2013, 12:44 AM
I'll piece something together and send in my request to Warka.

Are you going to ask them for a spreadsheet of your portfolio, or to get your online portfolio fixed? If you're asking for a spreadsheet of your holdings, you'll probably get that for the 2500 charge. If you're asking for your online portfolio to be accurate, good luck with that, doubt it will happen soon.

Patton
07-10-2013, 01:24 PM
I hate being the only realist in this group, but Warka is out of business. We have all lost our money to a Bernie Madoff ponzie scheme. I know many you will tell me in being negative. But I've lost $50,000 USD in this charade. So I get to piss on this parade of lies. No way of getting it back either. Really stinks but there is no get rich scheme. If it sounds to good to be true, it probably is.

RoyalBeluga
07-10-2013, 01:30 PM
I have to ask myself the question ... if I had $50,000 would I do what you have done? I'm afraid the answer is no. I would be over the moon if this thing ever paid off just half that amount and I'd consider myself lucky. If I already had $50,000 I wouldn't risk losing it!

Will-it-happen?
07-10-2013, 02:17 PM
I hate being the only realist in this group, but Warka is out of business. We have all lost our money to a Bernie Madoff ponzie scheme. I know many you will tell me in being negative. But I've lost $50,000 USD in this charade. So I get to piss on this parade of lies. No way of getting it back either. Really stinks but there is no get rich scheme. If it sounds to good to be true, it probably is.

what ever happened to the "comfort and joy" from their court case ?

Patton
07-10-2013, 04:03 PM
Well I did. So can't cry over the loss. Just trying to keep other people from falling into the same trap

Patton
07-10-2013, 04:11 PM
Rumor has it that the main players at Warka are no longer in Iraq. They've fled to Jordan with our cash. Nobody is operating the bank. It's all just Internet banking with no information and no access to your funds. Ever notice the Warka trademark is dated 2010. Sadly that's when this game was over. But 3 years later we were still hoping. Now reality has spoken and there is no recourse. Greed prevails again!

RoyalBeluga
07-10-2013, 06:18 PM
Rumor has it that the main players at Warka are no longer in Iraq. They've fled to Jordan with our cash. Nobody is operating the bank. It's all just Internet banking with no information and no access to your funds. Ever notice the Warka trademark is dated 2010. Sadly that's when this game was over. But 3 years later we were still hoping. Now reality has spoken and there is no recourse. Greed prevails again!

So are you done with all this now?

seadesk
07-10-2013, 06:38 PM
Rumor has it that the main players at Warka are no longer in Iraq. They've fled to Jordan with our cash. Nobody is operating the bank. It's all just Internet banking with no information and no access to your funds. Ever notice the Warka trademark is dated 2010. Sadly that's when this game was over. But 3 years later we were still hoping. Now reality has spoken and there is no recourse. Greed prevails again!

Patton:

I appreciate your thoughts.

I have an acquaintance who recently returned from Iraq and shared with me some of his thoughts regarding Warka:

..."Warka is restructuring due to liquidity issues...many Iraqis have frozen deposits with Warka as well...almost everyone I spoke with were convinced that Warka (along with CBI) will resolve this issue within few weeks/months because the Bunia family have too much at stake. It's just a matter of time."

Back to me [seadesk]: A person may not know the truth to say it but there is still value in sharing truthful experience. I don't know the truth; with regard to practically anything about Iraq I can truly say that I never have. Obviously I hope that I have not lost my "investments" in Iraq, but maybe I have and just don't know it.

I'll not throw in the towel because I can't see the fight sufficiently to do so. At one point someone (or some thing) will convince me that all hope is lost and that "Warka has left the building" or, guess what, Warka issues were resolved and I get my money back with interest.

My best to you and all IIF members.

PennStateMtnMan
07-10-2013, 07:04 PM
I was out of the loop for a long time. I never realized that my IIF Brothers and Sisters might have lost a lot of money with Warka. Didn't the people investing in the ISX have to go through Warka as well?

HumbleGenius
07-10-2013, 07:06 PM
I am a bit worried it is deteriorating farther. This is the first time that I have seen that Warka has not posted a Open subscription paid up offering where the stock price is above 1 dinar. Currently Gulf Bank (BGUC) is open for subscription and Warka has not posted. At this point I am of the belief that Warka does not have the funds to back the Paid Ups from our accounts if we asked for the execution of them. If this is really the case it really really pisses me off since I just sold stock valued at 2M dinar to cover the paid ups. Now it looks like the bank is freezing these funds since they are not offering the paid ups nor are they executing other stock purchases I have requested. At this point I would not sell anymore stock (even for portfolio adjustment which is why I do it) because I believe the sell will occur but then the funds will be frozen as appears to be the case for me now. Your funds are safer in Shares in your own name that is instead of a balance line in your Warka account. Negative, aren't I.

RoyalBeluga
07-10-2013, 08:25 PM
Seem to remember a few times in the past Warka have posted the announcement days before the deadline? Giving little chance for people to get their requests in on time.

RoyalBeluga
07-10-2013, 08:29 PM
Opinions are strong today, only opinions though. I guess those who wait will find out the outcome. INIT2WINIT. I should change my name really :cool:

dinar_dude
07-10-2013, 11:18 PM
where are these rumors originating?

dinar_dude
07-10-2013, 11:23 PM
Iraq (especially the CBI) is bent on getting foreign investment to flow into Iraq. How do you think the news of Warka Bank officials fleeing to Jordan with hordes of cash invested by foreigners would negatively impact Iraq's agenda? Every foreign investor would be running for the exits. Remember, regardless of the outcome of the court case, Warka is still under CBI, and I don't think the CBI would allow this to happen.

Let some time go by to let Warka get back on its feet again. Or let the CBI determine the road ahead before making decisions based on rumors of what people are saying Warka has done.

I'm staying positive.

Kickabuck
07-11-2013, 03:00 AM
I am a bit worried it is deteriorating farther. This is the first time that I have seen that Warka has not posted a Open subscription paid up offering where the stock price is above 1 dinar. Currently Gulf Bank (BGUC) is open for subscription and Warka has not posted. At this point I am of the belief that Warka does not have the funds to back the Paid Ups from our accounts if we asked for the execution of them. If this is really the case it really really pisses me off since I just sold stock valued at 2M dinar to cover the paid ups. Now it looks like the bank is freezing these funds since they are not offering the paid ups nor are they executing other stock purchases I have requested. At this point I would not sell anymore stock (even for portfolio adjustment which is why I do it) because I believe the sell will occur but then the funds will be frozen as appears to be the case for me now. Your funds are safer in Shares in your own name that is instead of a balance line in your Warka account. Negative, aren't I.

Judging from the last 60 days, I agree. You can get a sell order executed instantly, but a buy order isn't even acknowledged via email for me. Hold your ISX shares...even though we see Citibank, SC, and others moving in to pick our bank stocks apart. Sinbad and his 40 thieves are coming in to take everything we have. It's looking worse than better at this point.

haggisbasher
07-12-2013, 07:33 PM
Been waiting 10 days now on warka bank on starting a CD of 80 mill.IQD,for 6months,
i think its starting to look like there is no cash protection law been voted in yet for depositors in banks accounts are not protected.

Also- all shares in :own good name: are protected.

Also -I still don't think warka bank is finished yet maybe they will have a rescue plan put together.

haggisbasher
07-12-2013, 07:50 PM
Also-I think Iraq is going through a civil war at this moment and there is a very good chance they may partition into 3 states and all states getting equal amount in oil revenues.

Also- they must give to the people of Iraq a strong currency to purchase or there will be a spring offensive over there in Iraq and loosen their political career's over :SOON.

Also-think Maliki is under enormous pressure from the WTO,CBI,MIF MOE and a half-dozen other institutions to do something with the IQD and soon,

BatmaninIraq
07-13-2013, 10:25 AM
I hate being the only realist in this group, but Warka is out of business. We have all lost our money to a Bernie Madoff ponzie scheme. I know many you will tell me in being negative. But I've lost $50,000 USD in this charade. So I get to piss on this parade of lies. No way of getting it back either. Really stinks but there is no get rich scheme. If it sounds to good to be true, it probably is.

Sometimes, It is hard to believe to those who has a power, why dont you try the FORTUNE TELLER...... coz I did lol.....

War Eagle
07-13-2013, 05:03 PM
Patton; Why would Warka Bank pay interest on our accounts if they are "out of business"? Yes, I received mine a couple of weeks ago!!

24mm exposed grid
07-13-2013, 07:44 PM
Patton; Why would Warka Bank pay interest on our accounts if they are "out of business"? Yes, I received mine a couple of weeks ago!!

Yes, I also received my non withdrawable, non spendable, figures on a screen too.

ISX Junkie using Aljazera
07-13-2013, 09:21 PM
Yes I received my interest as well. I only have a little over 130,000 Dinar left in my Warka account. With their 200,000 share requirement the only stock I can afford to buy is North Soft drinks. I will place an order for that next week and let everyone know if it gets executed. By the way does anyone have any info on INSD? I think I read some where that they deal with Coke but I am not sure. Thanks for any info.

dinar_dude
07-13-2013, 09:46 PM
It'll be interesting to see how the market landscape shifts when the ISX is upgraded with the X-Stream software next year. I think this will bypass a lot of the red tape and administrative difficulties we've had in dealing with buying stock/ selling stock through Warka.

Of course, this will not help the depositers in Warka.

Kickabuck
07-13-2013, 10:38 PM
Yes I received my interest as well. I only have a little over 130,000 Dinar left in my Warka account. With their 200,000 share requirement the only stock I can afford to buy is North Soft drinks. I will place an order for that next week and let everyone know if it gets executed. By the way does anyone have any info on INSD? I think I read some where that they deal with Coke but I am not sure. Thanks for any info.Junkie, Al-Hilal is coming back to trade at .61, try to buy that...they hold highly valued property. But, the corrupt sobs will probably drive them into delisting before any real value is attributed. Where did these Iraqi's learn such tactics? There's no way they know the Wall Street model yet, do they???

tipawin
07-14-2013, 02:09 AM
iraq (especially the cbi) is bent on getting foreign investment to flow into iraq. How do you think the news of warka bank officials fleeing to jordan with hordes of cash invested by foreigners would negatively impact iraq's agenda? Every foreign investor would be running for the exits. Remember, regardless of the outcome of the court case, warka is still under cbi, and i don't think the cbi would allow this to happen.

Let some time go by to let warka get back on its feet again. Or let the cbi determine the road ahead before making decisions based on rumors of what people are saying warka has done.

I'm staying positive.

i also am in for the long hall

what else can i do //

i also agree with humblegenius

sell orders were executed last december but no buy orders

i received my uptodate stockportfolio list in june

bagddad softdrinks are still in proxy
credit bank middle eastern and national bank are still in proxy

these were purchased may 2007

all other shares purchased after 2009 are in my good name

my stratergy is to try to sell all proxy shares

what do you all think ????????????

Patton
07-14-2013, 03:10 PM
Some have said that interest has been paid to their accounts. Really? Internet scams have been happening forever. Warka is no different. I spoke a tear ago to a representative at our Embassy in Iraq. He told me that things looked bad for Warka and they have no longer a contact person from Warka. Basically we're screwed and just face the facts that your money is lost. Yes it stinks to high heaven but just deal with it. Get the word out to other people - don't get involved in this risky currency!

Patton
07-14-2013, 03:16 PM
Why hasn't anybody talked about the infamous Mr. I or Mahammad Issa. Suddenly he has dissappeared for more than a year. Just saying his name pisses me off. I've been had and its a sick feeling. I'm not finished trying to get my money back but at the moment it doesn't look good.

Patton
07-14-2013, 03:20 PM
You can't sell anything that's not being traded. So your stuck with worthless nothing's. Think about it. You actually hold nothing. Not trying to be funny but I hold $35,000,000 IQD of worthless paper. What's it matter if I sell it all. How do I transfer it back. Not happening!

Will-it-happen?
07-14-2013, 08:03 PM
You can't sell anything that's not being traded. So your stuck with worthless nothing's. Think about it. You actually hold nothing. Not trying to be funny but I hold $35,000,000 IQD of worthless paper. What's it matter if I sell it all. How do I transfer it back. Not happening!

I would disagree with you there as it is possible to transfer out stocks to another broker

ISX Junkie using Aljazera
07-14-2013, 08:05 PM
You can't sell anything that's not being traded. So your stuck with worthless nothing's. Think about it. You actually hold nothing. Not trying to be funny but I hold $35,000,000 IQD of worthless paper. What's it matter if I sell it all. How do I transfer it back. Not happening!

You say people here have no common sense but you are in the same boat as everyone else. Do what I did. Buy stock in your name and open an account with a new broker and transfer it out. However, if Warka is ignoring ISX buy orders, then ya your are right, your pretty much *ucked for the time being. You can't blame anyone else for your decision to invest via Warka. Now stop whinning like a 5 yr old on each thread.

RoyalBeluga
07-14-2013, 08:44 PM
A few years ago someone called CROW did mention that Warka investors/depositors could be locked out for a period.

Patton
07-14-2013, 10:10 PM
Not whining my friend just stating the obvious. Of course I knew the usual name calling that goes with stating the truth would bring on this forum. Honestly I don't know you from Adam and could care less about your opinion.

ISX Junkie using Aljazera
07-14-2013, 10:33 PM
You come on here and complain about how you can't get your money out then when someone tells you how you might be able to accomplish it you say you could care less about what they have to say. That makes no sense. I don't get why you posted then other than to whine and complain to people who already know warkas situation.

HumbleGenius
07-14-2013, 10:45 PM
A few years ago someone called CROW did mention that Warka investors/depositors could be locked out for a period.
Crow dropped like a rock from here. I wonder if he/she is still alive. Anybody hear from Crow?

Patton
07-14-2013, 11:53 PM
Ok let's here you tell us in detail how we can get our money out of Warka account or ISX. I'm always excited about saving my losses. I'm sure the rest of us Warka suckers would be interested in knowing how to save our money.

ISX Junkie using Aljazera
07-15-2013, 12:21 AM
The Only way to move your money out is to buy stock through warka and transfer that stock out to a new broker. The broker I chose is Aljazera. First I had to open and fund my account with Aljazera. They require an initial $10,000 wire transfer to open an account. That is a lot of money and the reason why people are still stuck in Warka. You can visit the isx website and research other brokers but I haven't heard of any other reputable brokers other than aljazera ,rabee securities ($100,000 initial wire) and al karmal. After I funded my account with warka I simply emailed aljazera to transfer over all my stock to their brokerage. The whole process took 2 days. This is the only way to move money out that I know of at present moment. In the meantime until you can raise funds I would put your money stocks in your name or keep rolling it into CD's. I believe both are protected under Iraqi law.

ISX Junkie using Aljazera
07-15-2013, 12:26 AM
The Only way to move your money out is to buy stock through warka and transfer that stock out to a new broker. The broker I chose is Aljazera. First I had to open and fund my account with Aljazera. They require an initial $10,000 wire transfer to open an account. That is a lot of money and the reason why people are still stuck in Warka. You can visit the isx website and research other brokers but I haven't heard of any other reputable brokers other than aljazera ,rabee securities ($100,000 initial wire) and al karmal. After I funded my account with warka I simply emailed aljazera to transfer over all my stock to their brokerage. The whole process took 2 days. This is the only way to move money out that I know of at present moment. In the meantime until you can raise funds I would put your money stocks in your name or keep rolling it into CD's. I believe both are protected under Iraqi law.

I should also mention that I borrowed money to fund my aljazera account from someone very kind and I received the entire wire back from aljazera to pay him back. In order to wire the money back it must come from sold shares. All I did was buy some bank stocks and sold it the very next day then wired it all back. I was skeptical at first but everything worked out perfectly. If you have someone who might he willing to lend you money it won't hurt to ask.

HumbleGenius
07-15-2013, 01:06 PM
I should also mention that I borrowed money to fund my aljazera account from someone very kind and I received the entire wire back from aljazera to pay him back. In order to wire the money back it must come from sold shares. All I did was buy some bank stocks and sold it the very next day then wired it all back. I was skeptical at first but everything worked out perfectly. If you have someone who might he willing to lend you money it won't hurt to ask.

ISX Junkie using Aljazera, my friend, can you lend me 10,000 grand?

ISX Junkie using Aljazera
07-15-2013, 03:19 PM
ISX Junkie using Aljazera, my friend, can you lend me 10,000 grand?

Lol I can lend you $10 if that will help! :cool:

cjcossey
07-15-2013, 06:09 PM
I seen a ISX stock broker in Iraq that required a $4000.00 minium account

www.dinarindex.com/#/isx-iraqi-stock-exchange\4527455230

Not sure how safe or reliable it is because I just found it. If interested, you can see for yourself

how safe it is. Hope you are successful with the web address I put in.

rfcr
07-15-2013, 09:22 PM
I hate being the only realist in this group, but Warka is out of business. We have all lost our money to a Bernie Madoff ponzie scheme. I know many you will tell me in being negative. But I've lost $50,000 USD in this charade. So I get to piss on this parade of lies. No way of getting it back either. Really stinks but there is no get rich scheme. If it sounds to good to be true, it probably is.
Have to agree....Warka is a wash. I feel like Leo Wanta.

haggisbasher
07-16-2013, 07:57 PM
Got a response from ISX@Warka today about a enquiry I made about BBOB paid up shares,but still no word on a CD I have been trying to get started,thats 10 days now.???????/

RoyalBeluga
07-16-2013, 09:05 PM
Any response is better than no response I suppose. What about all the free shares, any response regarding those?

haggisbasher
07-16-2013, 09:09 PM
RB Warka said for me to wait till it is published on warka news page then submit BBOB request for paid up,did'nt ask about free shares and yes I was glad to hear from them.

dinar_dude
07-17-2013, 04:16 PM
When you transferred your money out of Warka, was it in your good name? Also, were the stock figures you previously received from Warka accurate?
I'm asking because amny on this site have stated that there are discrepancies between their stock records and Warka's.

Thanks for the info.



The Only way to move your money out is to buy stock through warka and transfer that stock out to a new broker. The broker I chose is Aljazera. First I had to open and fund my account with Aljazera. They require an initial $10,000 wire transfer to open an account. That is a lot of money and the reason why people are still stuck in Warka. You can visit the isx website and research other brokers but I haven't heard of any other reputable brokers other than aljazera ,rabee securities ($100,000 initial wire) and al karmal. After I funded my account with warka I simply emailed aljazera to transfer over all my stock to their brokerage. The whole process took 2 days. This is the only way to move money out that I know of at present moment. In the meantime until you can raise funds I would put your money stocks in your name or keep rolling it into CD's. I believe both are protected under Iraqi law.

ISX Junkie using Aljazera
07-17-2013, 05:07 PM
When you transferred your money out of Warka, was it in your good name? Also, were the stock figures you previously received from Warka accurate?
I'm asking because amny on this site have stated that there are discrepancies between their stock records and Warka's.

Thanks for the info.

Yes all shares were in my good name. Aljazera requested a copy of my portfolio straight from the IDC (Iraqi Depositroy Center) showing all my holdings with Warka. All of my totals were correct except for 2 stocks, BEFI and IMAP. I was missing paid up shares that I subscribed for. Here is Aljazera's response to the discepancy.

There is no need for you to write to Warka about the so-called "discrepancy" between your IDC stock account
and your Warka stock account . We do not think there is a discrepancy . The fact is that new issued shares of any listed company usually take up to 6 months to be listed on any exchange in the world . Therefore , you need to wait until your new bonus and paid-up shares of these two companies (BEFI and IMAP) are listed on the ISX and appear in your Warka stock account . We shall then also transfer these new shares from your Warka account to your account with Aljazera Brokerage Company . We receive official notifications from the ISX when the new shares are addded to the accounts of ISX investors .

Since then I have received the BEFI paid ups. Not sure if IMAP have been transfered yet. They are probably added to my account I just forgot about it. Hope this info helps.

haggisbasher
07-17-2013, 06:47 PM
Got my CD initiated today,warka are still alive.

dinar_dude
07-17-2013, 07:49 PM
It's very helpful - thank you!

I'm going to look into this as it appears you're getting faster and more efficient service through Al-Jazera. Do they have an online site where you can get regular reports on your holdings?


Yes all shares were in my good name. Aljazera requested a copy of my portfolio straight from the IDC (Iraqi Depositroy Center) showing all my holdings with Warka. All of my totals were correct except for 2 stocks, BEFI and IMAP. I was missing paid up shares that I subscribed for. Here is Aljazera's response to the discepancy.

There is no need for you to write to Warka about the so-called "discrepancy" between your IDC stock account
and your Warka stock account . We do not think there is a discrepancy . The fact is that new issued shares of any listed company usually take up to 6 months to be listed on any exchange in the world . Therefore , you need to wait until your new bonus and paid-up shares of these two companies (BEFI and IMAP) are listed on the ISX and appear in your Warka stock account . We shall then also transfer these new shares from your Warka account to your account with Aljazera Brokerage Company . We receive official notifications from the ISX when the new shares are addded to the accounts of ISX investors .

Since then I have received the BEFI paid ups. Not sure if IMAP have been transfered yet. They are probably added to my account I just forgot about it. Hope this info helps.

manwithnoname
07-17-2013, 08:36 PM
Got my CD initiated today,warka are still alive.

Well done HB. Persistance over comes resistance although I have always believed Warka are still trading. Admittedly not in the way we would like but hopefully showing us some more light from the tunnel.
MWNN

Brazileiro
07-18-2013, 12:24 AM
you're lucky. I've been trying for the last 3 weeks to get a new cd. No response from anyone at Warka including the headman himself. I've sent 7 emails now.

update - checked this morning and I have a new CD,,,