Warka Transfers and Purchases for Foreign customers, Aug 16th

[lance]

Dear Lance

I am happy to inform you that on the 16th of August trading session we were the first private bank in Iraq to purchase stocks directly in the names of our foreign clients whom have submitted their notarized documentation fulfilling the requirements of the ISX. Stock certificates will be issued within two weeks for those clients who placed orders on the 16th of August trading session having their documentation already notarized and submitted to our esteemed bank.

We will also begin the process of transferring stock ownership on Tuesday to those clients who have submitted their original notarized documentation.

Best regards,

Deputy Managing Director

International Affairs

...NOW IT IS OPEN. Lance

[25KaratDinar]

Thanks Lance

[calstar]

Outstanding thanks Lance!!!!!! :happy64:

[tew23]

Could someone please explain why someone would want to take physical possession of stock certificates? Is this what he means?

TIA

[yunowu]

Monster post Lance !! Thanks !! :happy64: :happy64: :happy64:

[lance]

Could someone please explain why someone would want to take physical possession of stock certificates? Is this what he means?

TIA

We are not taking possession of the stock we are having it transferred into our names. This is a requirement of the FIL, however there has been no deadline for you to satisfy this requirement. When the ISX sets a deadline then we will watch those procrastinators jump through hoops and wait in lines, or sell.

[jimmy4645]

Dear Lance

I am happy to inform you that on the 16th of August trading session we were the first private bank in Iraq to purchase stocks directly in the names of our foreign clients whom have submitted their notarized documentation fulfilling the requirements of the ISX. Stock certificates will be issued within two weeks for those clients who placed orders on the 16th of August trading session having their documentation already notarized and submitted to our esteemed bank.

We will also begin the process of transferring stock ownership on Tuesday to those clients who have submitted their original notarized documentation.

Best regards,

Deputy Managing Director

International Affairs

...NOW IT IS OPEN. Lance

Hey Lance... Great News... Thanks for informing all of us.... Not to change the subject, Do you have any ideas on how to get Mr. I to respond to my emails. I have pending stock orders; wire transfers and online access request for about two months and no answer. Looks like you have a great relationship with him and might have some advise getting him to respond to my emails. Thanks

[INRI]

Sweet post Lance.
This is great news. Boy am I glad I went ahead and had Condi sign my papers!:happy64:
This is a good step in the right direction for a little more security for all of us in the ISX.

[lance]

Hey Lance... Great News... Thanks for informing all of us.... Not to change the subject, Do you have any ideas on how to get Mr. I to respond to my emails. I have pending stock orders; wire transfers and online access request for about two months and no answer. Looks like you have a great relationship with him and might have some advise getting him to respond to my emails. Thanks

Jimmy if you have sent a couple of emails to him and not heard back something is off somewhere. First try sending your request to the department that handles your request and always, always cc Mr I. I have heard of problems with peoples computers and them going to another PC and the email working fine. You have the exact email I use. I don't contact him unless we are up against a malicious rumor, or I have specific business that needs done. Hope that helps.

[DallasDinar]

great infor thanks Lance...

DD

[isx-investor]

Let me understand, If Warka have already purchased for me stocks on the proxy, why should i care about this ownership?

Where does it say we must do it?

[Howler]

Good news for the folks in the ISX!

[tmorr37]

Waiting since April for my passport

[cowpoke]

Good news for the folks in the ISX!

So are you going to jump in now?:D

You were wise to wait, you only missed about a 30% rise which is nothing and you have mentioned in the past when it's open LEGALLY you may jump in, so are you in?

[Howler]

So are you going to jump in now?:D

You were wise to wait, you only missed about a 30% rise which is nothing and you have mentioned in the past when it's open LEGALLY you may jump in, so are you in?

Good memory my man! LOL
I think I will wait for the HCL.
Although you guys that got in early will be rewarded. IMO the ISX will grow for years to come. I have time.:wave:

[buck74]

Hey Lance - You da man! They received my legalization paper work last week, hopefully it will get thrown on top of the pile. :D (just kidding)

[lance]

Let me understand, If Warka have already purchased for me stocks on the proxy, why should i care about this ownership?

Where does it say we must do it?

It is part of the Foreign Investment Law, Warka explained this to us a long time ago. Please do not take it from me or anyone else, Contact Your Broker and get it verified. I did. One of the most important parts of this entire update from Warka is that the ISX did not bend to political pressure and open their markets to foreigners who had not completed the process of document legalization. They may have hedged a little and stalled until foreigners had a chance to complete the process, but oh well. They stood their ground and the investor will comply with document legalization or they will invest in other markets. Outstanding is all I have to say, hats off to the ISX. "Know the Hand".

[ISX_TIME]

Thanks Lance for a keeping the forum informed with your personal communications !!!!

Great Job
:huge:

[coconut]

Sweet - Thanks Lance.

[coconut]

Warka the trailblazer - YeeHah.

[rpm629]

Some of us are still waiting on our passports. Should we email Mr. I and explain the situation to him? Things are real slow at the Passport office...

[lance]

Some of us are still waiting on our passports. Should we email Mr. I and explain the situation to him? Things are real slow at the Passport office...

Do you have something showing that you have applied for the passport? Friends of mine are going through this same process and have a receipt showing that their passport is being processed. I would keep that safe and should the ISX set a deadline for transfer of shares into your name you could then provide this to Warka. I know that this receipt and a drivers license will get back into the states after traveling abroad in lieu of a passport. For the time being no such deadline has been set and Warka has enough to handle. Just keep you information safe, it could be a life line, though I am not expecting any immediate pressure from the ISX. JMO. As always do what makes you comfortable.

[oldskiier]

OK guys, as a customer of Warak Banks ISX dept....I have had Warka purchase stocks on my behalf....and have not been notified what so ever of any need of transferring stocks into my name....I have sent an E-Mail to them as to clear this matter up...as if this was to be the case we would each have to be notified of this change !! hoping to hear from them soon !! will pass on what I hear :)

[buck74]

I do not believe there is any need to transfer stocks into your name at this time. I think Lance is saying to be prudent, because things could change with this, and to just "be prepared" for different senerio's. After all it is the Boyscout motto.

[Goes4ever]

OK guys, as a customer of Warak Banks ISX dept....I have had Warka purchase stocks on my behalf....and have not been notified what so ever of any need of transferring stocks into my name....I have sent an E-Mail to them as to clear this matter up...as if this was to be the case we would each have to be notified of this change !! hoping to hear from them soon !! will pass on what I hear :)
exactly, I agree with you OS, I am not doing it UNLESS they absolutely require it, as hard as it is to even get an email response from warka, I am about tired of this whole thing. what a serious pain in the :eek: !

[JPmonopoly]

It is possible to continue to purchase and hold shares under the name of our proxy company however if the ISX instructs that we must make the transfer of ownership we will act in accordance.

Best regards,
Mr. I



Lets just hope it stays that way!!

[lance]

OK guys, as a customer of Warak Banks ISX dept....I have had Warka purchase stocks on my behalf....and have not been notified what so ever of any need of transferring stocks into my name....I have sent an E-Mail to them as to clear this matter up...as if this was to be the case we would each have to be notified of this change !! hoping to hear from them soon !! will pass on what I hear :)

OS it has been so long since Mr I asked me to post that this was a requirement of the FIL and the bank had been notified of this requirement I can't even find it. Hey do what makes you comfortable, but don't say later it wasn't posted here on the forum as a requirement. Requirement without deadline, kind of a oxymoron. But hey that is Iraq. Can't wait around for Warka to send you information on this this stuff it isn't gonna happen and all these extra emails are jamming up the works on stuff we should already know. Whatever. We need to clear this point up once and for all for non-believers, some people still don't believe Warka is a bank in Iraq.

OS don't take offense I have been standing to close to the flame, just trying to keep things accurate. Lance

[TreasureHunter]

Let me understand, If Warka have already purchased for me stocks on the proxy, why should i care about this ownership?

Where does it say we must do it?


It was in the ISX rules on the ISX web site! When the ISX opened to foreign investors...the stocks had to be transfered into the customers name and could not be held by the bank.:rolleyes:

[Crow]

it wasn't eays but i'm on :wave:

[oldskiier]

OS it has been so long since Mr I asked me to post that this was a requirement of the FIL and the bank had been notified of this requirement I can't even find it. Hey do what makes you comfortable, but don't say later it wasn't posted here on the forum as a requirement. Requirement without deadline, kind of a oxymoron. But hey that is Iraq. Can't wait around for Warka to send you information on this this stuff it isn't gonna happen and all these extra emails are jamming up the works on stuff we should already know. Whatever. We need to clear this point up once and for all for non-believers, some people still don't believe Warka is a bank in Iraq.

OS don't take offense I have been standing to close to the flame, just trying to keep things accurate. Lance

I appreciate all you do for us Lance :) However we are all legall clients and will have to be notified individuallyy of this change in our contracts with Warka .... Like you said contact your Broker ...:) so thats what I am doing

[lance]

I appreciate all you do for us Lance :) However we are all legall clients and will have to be notified individuallyy of this change in our contracts with Warka .... Like you said contact your Broker ...:) so thats what I am doing

Contract? I would like to see the contract you have. Legal clients yes."Will have to be notified" Where did that come from. I have accounts and I own stock (in my name after Tuesday). Contract not so much, thats to say not at all and not at all concerned. If Warka is requested to transfer shares into your name by the ISX you can expect them to firmly execute that request.(They have already notified us of that) If you are in limbo until you get the necessary documents completed so that you can sell the shares that are now in your name then that is where you will be. That is one of my main concerns for people. Done worrying about it, starting now.

[rpm629]

It was in the ISX rules on the ISX web site! When the ISX opened to foreign investors...the stocks had to be transfered into the customers name and could not be held by the bank.:rolleyes:

The stocks are not being held by the bank. This is part of a email Mr. I sent WB...
Our stocks are held by their brokerage office...


Please note that we have an officially registered brokerage office which is permitted to provide and handle full brokerage services which we are doing accordingly. Our brokerage office is recognized by the ISX and the share capital of our brokerage office is deposited at the CBI. We are ranked number among our competitors executing the most amounts of orders at the ISX trading sessions.

Furthermore according to the rules and regulation set by the ISX and Company Registration Office our proxy company is permitted to hold shares under its names and the ISX is providing us with the stock certificates. It is important to know that the shares are being held under the name of the proxy company which our bank owns and not under the name of our bank which is in full accordance to the rules and regulations set by the ISX.

[BAMABOY]

Well, I have all my documentation completed and it is already at Warka. I included instructions with it to Mr. I to go ahead and transfer all my stock to my "good name" as soon as it was allowed . Looks like that time has come. I also requested that Warka hold all my stock certificates there in the vault and to continue to act as my broker for any transactions. I know I will have to pay the transfer fee, but I think Lance is correct, better to go ahead and have this taken care of now rather than wait untill it is strictly enforced by the ISX and everybody who waited is trying to get it done.

Now its time to just sit back and wait & see how long it takes Warka & the ISX to get all this done. :D

[Sponson]

Under the "ISX FAQ" tab there are instructions on how to get the stocks transferred into your name. Is this information current and accurate, or are there a few things that I should be aware of or changes that have been made before I go through this process?

Any hints or suggestions would be appreciated. Thanks in advance.

:wave:

[lance]

Just to recap, foreign investors entered into the ISX on Aug 16th in their own names and the CBI did not revalue the currency prior, so what next? I mean you gotta feel good if you are a dinar only person and they come out and say no lop, by the same token you gotta be scratching your head wondering where the revalue went that you expected before they let foreigners into the ISX. Somebody tell me what to expect next, please, cause we missed that one by a long shot.

16 Aug 2007 19:06:00
Business/ISX
489 million shares trade on ISX session

[Riceboi]

Just to recap, foreign investors entered into the ISX on Aug 16th in their own names and the CBI did not revalue the currency prior, so what next? I mean you gotta feel good if you are a dinar only person and they come out and say no lop, by the same token you gotta be scratching your head wondering where the revalue went that you expected before they let foreigners into the ISX. Somebody tell me what to expect next, please, cause we missed that one by a long shot.

16 Aug 2007 19:06:00
Business/ISX
489 million shares trade on ISX session

Get oil flowing, dinar appreciates slowly. This is the reval.

[onenomad]

Good memory my man! LOL
I think I will wait for the HCL.
Although you guys that got in early will be rewarded. IMO the ISX will grow for years to come. I have time.:wave:


Very true, Everyone has a different risk level its a smart investor that knows theirs.

[trusty]

Good memory my man! LOL
I think I will wait for the HCL.
Although you guys that got in early will be rewarded. IMO the ISX will grow for years to come. I have time.:wave:


Yep, time is in your favor right now..the market is flat to down.

Trusty

[Screaming Eagle]

Hey Lance - You da man! They received my legalization paper work last week, hopefully it will get thrown on top of the pile. :D (just kidding)

What paperwork is needed to change stocks into my name? I have purrchased by proxy from Warka..

[richsoon]

Can somebody get me a link to the foreign investor instructions/notarized copy post? (Im one of those procrastinators along with Screaming Eagle)

[jimmy4645]

Dear Lance

I am happy to inform you that on the 16th of August trading session we were the first private bank in Iraq to purchase stocks directly in the names of our foreign clients whom have submitted their notarized documentation fulfilling the requirements of the ISX. Stock certificates will be issued within two weeks for those clients who placed orders on the 16th of August trading session having their documentation already notarized and submitted to our esteemed bank.

We will also begin the process of transferring stock ownership on Tuesday to those clients who have submitted their original notarized documentation.

Best regards,

Deputy Managing Director

International Affairs

...NOW IT IS OPEN. Lance

Is there any type of Authorization letter that we need to send to Warka to begin transfering stocks into our names?

Since, Warka will be puchasing stcoks in our good names; is there any type of approved purchase form available that needs to be used?

[NewIraqiDinar]

See tabs at top of page...:cool:

[lance]

Is there any type of Authorization letter that we need to send to Warka to begin transfering stocks into our names?

Since, Warka will be puchasing stcoks in our good names; is there any type of approved purchase form available that needs to be used?
No if you have sent your legalization documents in they know you want the stocks in your name, you are done. Couple weeks from this Tuesday I would send an email asking for verification of the transfer. Thats about it. Congrats.

[lance]

Get oil flowing, dinar appreciates slowly. This is the reval.

Thanks for the reval (REALITY CHECK) perspective.

[ISX_TIME]

Get oil flowing, dinar appreciates slowly. This is the reval.

HEY ADSTER ?????? Did ya See This ?

[jimmy4645]

So all stock certificates (in our names) will be held by Warka by default. Is this true??

[buck74]

Yes you are correct, Warka will hold our stock certificates in their vault (volt as they say it).

[DinarInMikeswrld1]

So all stock certificates (in our names) will be held by Warka by default. Is this true??


Yes you are correct, Warka will hold our stock certificates in their vault (volt as they say it).



Dear Mr. B,

We can hold the stock certificates of our clients this entirely the choice of our esteemed client. It is the best interest of the client to hold the stock certificates at our bank to replace it with new certificates whenever dividends are issued avoiding the courier fees of sending certificates back and forth.

Best regards,

Mr. I
Deputy Managing Director
International Affairs

[RotaryRevn]

Things are really moving over there!

[Buckster]

OK,OK, I can't take it any longer. Can somebody PLEASE tell me what IMO means in computer speak? I have looked in the list but its not there.

[DinarInMikeswrld1]

OK,OK, I can't take it any longer. Can somebody PLEASE tell me what IMO means in computer speak? I have looked in the list but its not there.
IMO - in my opinion....
Which is what most things on here are.
JMHO :-)

[WellFedMonkey]

IMO - in my opinion....
Which is what most things on here are.
JMHO :-)


JMHO = Just my honest opinion

Just thought that I'd add that just in case he asked about that one too.

[DinarInMikeswrld1]

JMHO = Just my honest opinion

Just thought that I'd add that just in case he asked about that one too.

haha.....thats why I threw it out there......just to see if he did :lmao:

[WellFedMonkey]

haha.....thats why I threw it out there......just to see if he did :lmao:

LOL. Don't toy with his emotions. When I first started coming onto IIF(there it goes again) the acronyms used here used to confuse the heck out of me.

[eli_revah]

Great post ! Very Well Done... Question when you send your notarized documents to Al-Warka do you receive a confirmation e-mail that your documents have been received and have been transfered in your name??
Many Thanks

[nebraskadinar]

Does anyone else think that 9/28/07 is a significant date for the dinar? :wave:

[BAMABOY]

Great post ! Very Well Done... Question when you send your notarized documents to Al-Warka do you receive a confirmation e-mail that your documents have been received and have been transfered in your name??
Many Thanks

I got the following e-mail from Mr. I today. They received my notorized documents there at the bank about 10 days ago.

Dear Mr. David XXXXXX,
Your documentation has been successfully received and we have submitted it to the ISX for verification and once confirmed and approved we will begin the transfer of stock ownership.

Best Regards,
M.K.I.
Deputy Managing Director
International Affairs

[OILMAN]

thanks for the updates everyone...................
some time next 30 days i'm in...............
:) :) :) go ISX^^^^^^^^^^^^^^^^^^

[richsoon]

Thanks for the reval (REALITY CHECK) perspective.


And that, of course is the reality check in regards to the ISX. Slow grow all the way around.

[coconut]

The ISX will grow as fast as the currency will allow it.

[richsoon]

The ISX will grow as fast as the currency will allow it.


Right now a few million dinars thrown at one of those 17% CD's for a couple of years sounds like a nice option.

[OWAIS.MUHAMMAD.HUSSAIN]

hello...
guys i am new member and i have funded my account in warka bank for investment and finance.. please guide me how can i buy the shares under my name ?
because iraq embassy is not being worked in pakistan so how will i notarized my document .
2)either do i have to send the document by mail or e-mail? please confirm me

many thank with best regards:
OWAIS.MOHAMMAD.HUSSAIN(ACCA-UK)PAKISTANI
CELL PHONE NO:0092(321)2022793
OWAIS_ENTERPRISE@ACCAMAIL.COM

[thegujju]

[quote=OWAIS.MUHAMMAD.HUSSAIN;698251]hello...
guys i am new member and i have funded my account in warka bank for investment and finance.. please guide me how can i buy the shares under my name ?
because iraq embassy is not being worked in pakistan so how will i notarized my document .
2)either do i have to send the document by mail or e-mail? please confirm me

many thank with best regards:
OWAIS.MOHAMMAD.HUSSAIN(ACCA-UK)PAKISTANI
quote]

Hello Owais,

I cannot advise you of your situation in getting the documents notarised but I suggest you edit your post and delete your phone number and personal email that you've put up. These aren't details you want to be putting up on a public forum.

All the best and hopefully someone else here can give you an answer to your actual question.

[8ball]

I think he would like one of us to call him......

8ball

[chakkarchee]

Any comments on following post by explorerhot

Having all my stock in my name is my goal and it no longer make sense to have Warka purchase in proxy and charge 1% if in order to transfer my stock to my name they will sell for another 1%, then buy back in my name for yet another 1% then eventually sell for once again for 1%. 1+1+1+1=4% verses buying in my own name for 1% then eventually sell for 1% 1+1=2%

Also question is after the stock is in investors name , would Warka still hold the stock certificate or they will deliver to the investor.

[NewIraqiDinar]

Warka will continue to hold the stock certificates for you.