Why does Iraqi Trader have link to this forum?

[BlueLake]

Did ya know that the link from Iraqi Trader Bank Accounts Link
http://www.iraqitrader.com/
Sends you right here to Investor's Iraq Forum http://www.investorsiraq.com/forumdisplay.php?f=7
How to open an account at Warka Bank What's up with this?
Does anyone care even, if not fine , just checking.

[sogrgirl]

That is Tyred's Tale's site... :D

[BlueLake]

ya I read that earlier. I'm not sure why owners of this site want to promote the bank like that, when right now it is not legal for foreigners to open accounts that I know of. And his site does not mention that.

[sogrgirl]

you should ask Tyred...

I have an account with Warka, for a while there, they were the only bank we could open accounts with. I don't believe that it is illegal to have an account with them.

are you wondering if you should open an account???

[BlueLake]

I did not know foreigners could open accounts yet, legally.

[dougmyers]

I did not know foreigners could open accounts yet, legally.
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We all have accounts in Iraq! Dont you?

[BlueLake]

under whose name

[Chaka]

it is legal to open and fund an acct in iraq in your own name- this is fact!

[Tyreds Tale]

I understand that it is legal also. From the US side by presidential decree and from the Iraqi side by new laws with the new ministries. Heck its even legal to trade on the stock exchange. Problem is they are slow to catch up to the electronic based systems needed for foreign bank and stock investors.

i put the link on the website because I honestly think people should come here to get more info on setting up an account. I cant answer questions by email (id just forward them to chaka anyway ;) ). So I just put a link here. Eventually I will make a seperate page for bank accounts but will still have a link here.

[BlueLake]

well I've learned more again
thank you

[Marilyn]

"...An important step was taken on October 28, 2003, when the Central Bank of Iraq authorized Iraq’s private banks to process international payments, remittances and foreign currency letters of credit. This action follows other important steps taken recently to modernize Iraq’s banking system – the establishment of a new national currency, for instance, and the launching of daily foreign exchange auctions by the Central Bank."


http://www.iraqcoalition.org/economy/iraq_private_banks.html


Warka was the first bank that got back to us when we started to research opening accounts overseas. That's why we have a contact there. It could have been any bank,we contacted them all. Warka has been on the ball when it comes to foriegn investments. You will see their name in many media articles throughout the forum. They were quick to convert their forms into english. Our statements have gone from hand written in arabic, to printouts in english in just a few months. They sell dinar at market value for a very small commission and pay interest, in dinar. Funds can be wired back and forth from US Banks.