ISX not available to foreign investors?

[IQDFiend]

Just received an email back from Al-Warka, and they are saying that as of now, no foreign investors are allowed, but that it should be coming soon...

Anyone here know anything more about that?

IQD

[Jerry]

can you paste the email? Marilyin had a different answer from Alwaraka

[Jerry]

Thats just wrong. Presidential order 13303 lets U.S. citizens invest in stock...
Although it didt say when.... They are going to drive the price up before we get a chance

[Jerry]

"GRrrrrrrrrrrrr"

[Marilyn]

That's correct. It is not yet available but will be by the end of the month. They are currently translating their documents into English. My discussions with them have been about setting up the accounts needed to do the transactions. ou need two accounts, one in USD and one in IQD. They will do the conversion for you.

They said they would email me a weekly bulletin on the ISX for trading purposes and that they would be able to buy the stocks for me as soon as it opens to the US.

[bkewl]

Marilyn,

Have you asked Warka if you can fed-ex them IQD and have them deposit into your IQD acount? I'm thinking: if I open an account, fed-ex them my IQD for deposit this would be the most secure form of holding dinar.

Your thoughts?

tia

[Blake]

Marilyn,

Have you asked Warka if you can fed-ex them IQD and have them deposit into your IQD acount? I'm thinking: if I open an account, fed-ex them my IQD for deposit this would be the most secure form of holding dinar.

Your thoughts?

tiaNo, you transfer U.S. dollars via a wire transfer directly to the Iraqi Bank. Subsequently, they convert your U.S. Dollars, at the actual exchange rate of 1460 IQD:1 USD...into Iraqi Dinar giving you much more dinar for your buck than if you were to send them dinar you had previously gotten at a markup over the net. If Iraqi Banking Laws at the moment prohibit them from sending Dinars out of the country directly, there might be a problem of them accepting dinars in that fashion from outside Iraq as well.

1st, why would you use IQD you already have?? That defeats the whole purpose of investing in the ISX...to acquire more IQD before the exchange rate appreciates. 2nd, why would you take the chance that some crooked Customs agent could examine the contents of your package and skim off the top?? For me, the fewer times my dinar is shipped around the world the better.

Additionally, I still feel a bit uneasy about keeping my dinars or any amount of money, when they're not tied up directly in stocks, deposited in a bank overseas for long periods of time. I doubt your deposit accounts in Iraqi banks are insured by anything like the FDIC here in the U.S.

[bkewl]

I understand...My thought was to have an account where I could purchase more and add to that what I already have... I see your point of view. Thx