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guardian
07-07-2014, 11:53 PM
Warka Bank .. years and depositors' money lost between the central bank and the bank management



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Author: ah Editor: sa Reporter:
07/07/2014 15:07

Tomorrow's Press / Baghdad: Muhannad Mustafa

If we are to escape from the fear of the reality in which we live our money and the amount of money that may be all we have what we have, but the direction to the nearest bank in the capital, or the city that we live where to put it and bank deposits are in the custody bank so be assured funds from theft and fraud, but The issue in the Warka Bank are radically different, as is the story of another.

Deposits placed in the bank can not go back to the citizens and in any form, especially that most of those who reposed are simple as distant cry from the politics and crises of those who have spent years of their lives in misery and businesses that hold them above their energies usual, claims PAUSE real by The current government.

"Tomorrow's Press," I talked with a number of citizens who have deposited large sums of money in the bank and listened to their suffering and their views about the subject.

Nstgit for our rights

Says Sabah Anwar, a media that he "can not stay in this situation, which is not likely Vomwali that deposited in the bank four years ago, enough for me and my family for a period of time, I want to recover, and in any way and not my fault that the administration was the bank correct or wrong, the fact that the matter pertaining to my receivables ago then ".

He adds Anwar for "tomorrow's Press," "We are trying and we use and Nstgit to take our rights from the bank to no avail, not a solution, not to manage the bank, not from the central bank, not from the government, and after the decision of the custody of the bank We are encouraged, but things remain as is, and when you change the management of the Central Bank of thanking God that it will come a new administration and solve the problem, but surprised that the central bank will make a decision to liquidate the bank, and that the subject of liquidation means go and the loss of the sums and our money. "

Strange decisions from the Bank

Explains Khader Alaa, a government employee, said: "It can not be tolerated over this period I and all suffer from the same crisis we review from time to time and inform that the amounts would return soon, but the great disaster that the major contributor in this bank agreed with the governor of the central bank and agency to deposit significant amounts during a period of six to nine months, but the sad thing is that the central bank refused and insisted on a strange decision to pay the amount of two hundred billion Iraqi dinars, and during the period up to the end of last year. "

He continues Alaa for "tomorrow's Press," that "the bank was not prepared to pay this huge amount of money, especially as he is in a state of abnormal recession, making it the liquidation decision enters into force, and this resolution is wasted all the rights of depositors in the bank."

Effort is the result of lean years

While sees Firas Mohammed, an employee in the company civil, said, "This money is the result of tired of our fathers and our people for many years can not go and get lost because of the policies and mistakes of the Warka Bank and the decisions of the central bank, which is a disaster for us and for our families and our children so it should be."

He demanded to take "rational decision by higher authorities in the state to take the necessary and return the money."

The case will destroy hundreds of families

For its part, called the roar of al-Azzawi, a teacher, "the central bank and the Iraqi government to redress the bank and stand next to him for the fact that the world its crises of economic, commercial, and on an annual basis, especially as more banks nations known global stumble and Taatlki all their work so requires the state to be a true shepherd to maintain the people's money But in my country, it is completely different. "

She said al-Azzawi in her speech for "tomorrow's Press," "according to a scientific and permanent follow-up to the work of this bank, there are thousands of people in southern and northern Iraq have the amounts deposited in the bank."

In the view of al-Azzawi said, "These thousands of people their rights will be lost because of a failed bank management and the decisions of the Central Bank, which will demolish and the disintegration of thousands of Iraqi families."

Weak oversight and performance in the major cause of the crisis

In this regard, illustrates the economic expert on behalf of Jamil Antoine, said he "can not remain state is unable to make decisions that will be the solution, and the solution lies in the lending bank amounts and funds sufficient to repay all deposits exist, but this process has not been not given a loan it which caused the collapse of the entire great reputation and well-known banking institution in the country. "

He adds Antoine for "tomorrow's Press," that "the bank is unable to repay Altazamth and money owed to the fact that all property in his possession is mortgaged, the central bank has guardianship of the bank for a period of 18 months, but it ended without any results, only an increase in the crisis, so it is supposed to Bank Central to its responsibility which can not be completed to this point, a decision that is not enough. "

Confirms Antoine "The biggest part of the crisis lies with the state, which did not do its regulatory and financial from the outset to avoid getting hold such a crisis caused a great loss to all depositors in this bank, the central bank will not stay in the position of a spectator who demonstrates the weakness address the economic situation and the professional and scientific in Crisis. "

Central Bank .. Warka Bank need to organize simple administrative

For his part, the deputy governor of the Central Bank of the previous appearance of Mohammed Saleh, "The bank's move to lift the guardianship for Warka Bank, after a period of almost two years good financial sense, because it will give a good indication of the guarantees of the banking and financial dealings in Iraq," expressing his surprise at the "delay in lifting the trusteeship Despite offering a number of international organizations, financial reporting orally to the return of the Warka Bank to work. "

Saleh added in a statement seen by "tomorrow's Press," that "Warka Bank need to organize administrative simple to return to the financial arena, also requires that there be active assistance by the government represented by the Ministry of Finance through the development of a deposit long-lasting in the bank even help him work Financial spite of the high volume of financial assets relative to debt. "

Saleh continued that "it is the duty of government is to keep the financial situation of the country, because the Warka Bank does not carry only money the owners have, but there are large sums of money to citizens who are part of the financial system of the country and assist the Ministry of Finance of the Warka Bank due now, adding that" with the lifting of guardianship for Warka Bank, there are only a single bank (via Iraq), and can not call it the recommended naming it, because the theme is nearing its decisiveness by the central bank and the borrowers. "

Raise the guardianship will enhance the role of the bank

For his part, welcomed a member of the Board of Directors in Warka Bank Issam al-Asadi central bank's decision, describing it as "an equitable decision because it will strengthen the role of the bank in the financial system."


(continued below)

guardian
07-07-2014, 11:54 PM
Asadi said in a statement seen by "tomorrow Press", "The Warka Bank currently has the ability to overcome the crisis, because financial assets within the bank amounting to almost 500 billion dinars, which is greater than the liabilities that do not exceed the 380 billion dinars."

The Central Bank of Iraq has decided in March of 2012, the imposition of trusteeship Warka Bank obstructed because of the financial performance for more than two years, while the bank has to submit reports to prove his return for the resumption of banking activity in order to raise guardianship.

The Warka Investment Bank was established in 1999 and has the highest levels of technology and was the first Iraqi private banks that rely electronic accounting and the number of branches 130 branches in addition to operating branches outside Iraq.




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40plus
07-08-2014, 02:50 AM
"ability to overcome the crisis, because financial assets within the bank amounting to almost 500 billion dinars, which is greater than the liabilities that do not exceed the 380 billion dinars."

GOooooo Warka!!

Brazileiro
07-09-2014, 06:36 PM
and the cbi will be providing financial restitution,,someday,,,imagine both sides may be arguing how much restitution at this point,,,last I heard the cbi had not lifted guardianship still,,,

me thinks warka is far from dead,,,,

crazyfrank
07-09-2014, 08:37 PM
does anyone here now at this point have a boot on the ground there?

if so are the Warka branch's open, and doing business as usual?

oldskiier
07-09-2014, 09:46 PM
does anyone here now at this point have a boot on the ground there?

if so are the Warka branch's open, and doing business as usual?



Would love to know myself !!!............with the funds frozen I don't know how they could !!

Will-it-happen?
07-10-2014, 10:10 AM
but when will this actually happen ?

Screaming Eagle
07-10-2014, 11:10 AM
but when will this actually happen ?The Shiites have control of the banking system in Iraq. Warka is a Sunni owned bank. You might expect Warka to return to service just as soon as the Sunni defeats the Shiite and takes control of the country and banking system. If ever!!!!

mcdan
07-10-2014, 11:14 AM
I would love to see Warka Bank do a international cross , but they are not trading.
Her a example of what I mean.

Execute International Cross to Kurdistan International Bank on Thursday Jul 10 2014
10/07/2014 09:50




Al-Baraka Brokerage Firms (buy) and Kurdistan brokerage Firms (sell) executed Special Order to Kurdistan International Bank in traded shares (29700000000) billion share in additional session time after 12 oclock

spacetuna
07-11-2014, 02:05 PM
Here is a facebook page for Warka Bank victims... https://www.facebook.com/pages/Iraqs-Warka-Bank-Victims/125804980856940

There are Iraqi's that are members of the group. Here is one post from earlier this year....

Here are some news, hang your hat on it any way you want.
My brother was in in a taxi in Jordan, Amman when the subject of Warka bank came up. The taxi driver who claimed a service relationship with the Bunia (major owners of Warka) said that he gathered that the issue is close to being solved. Solved here means that Iraq Central Bank will provide/pay the money needed to restart the bank as a result of the suite Warka made in Iraqi courts. Last week, someone I know went to check for me on the branch of Warka in Sylaimani/Kurdistan, Iraq. There was a list of names attached to the door referred to as new employees for the soon to open branch.
I don't know what to make of it so I though I pass it along to all of you. Good luck to us and may good get those who intensionally put us in the hell

Will-it-happen?
07-11-2014, 03:43 PM
Here is a facebook page for Warka Bank victims... https://www.facebook.com/pages/Iraqs-Warka-Bank-Victims/125804980856940

There are Iraqi's that are members of the group. Here is one post from earlier this year....

Here are some news, hang your hat on it any way you want.
My brother was in in a taxi in Jordan, Amman when the subject of Warka bank came up. The taxi driver who claimed a service relationship with the Bunia (major owners of Warka) said that he gathered that the issue is close to being solved. Solved here means that Iraq Central Bank will provide/pay the money needed to restart the bank as a result of the suite Warka made in Iraqi courts. Last week, someone I know went to check for me on the branch of Warka in Sylaimani/Kurdistan, Iraq. There was a list of names attached to the door referred to as new employees for the soon to open branch.
I don't know what to make of it so I though I pass it along to all of you. Good luck to us and may good get those who intensionally put us in the hell

Can he take a picture of this list ? and post it here ?

HumbleGenius
07-11-2014, 04:33 PM
Can he take a picture of this list ? and post it here ?

Here is a partial list hand typed ( pic did not work)

Mohamed el Mohamaad
Mohmeddy al Mohahmed
Mahamed Mali Mahamed
........

ChinaGirl
07-12-2014, 01:06 AM
Here is a partial list hand typed ( pic did not work)

Mohamed el Mohamaad
Mohmeddy al Mohahmed
Mahamed Mali Mahamed
........

LOLOLOL http://www.websleuths.com/forums/images/smilies/ffj/toast.gif

ChinaGirl
07-12-2014, 12:46 PM
Here is a facebook page for Warka Bank victims... https://www.facebook.com/pages/Iraqs-Warka-Bank-Victims/125804980856940

There are Iraqi's that are members of the group. Here is one post from earlier this year....

Here are some news, hang your hat on it any way you want.
My brother was in in a taxi in Jordan, Amman when the subject of Warka bank came up. The taxi driver who claimed a service relationship with the Bunia (major owners of Warka) said that he gathered that the issue is close to being solved. Solved here means that Iraq Central Bank will provide/pay the money needed to restart the bank as a result of the suite Warka made in Iraqi courts. Last week, someone I know went to check for me on the branch of Warka in Sylaimani/Kurdistan, Iraq. There was a list of names attached to the door referred to as new employees for the soon to open branch.
I don't know what to make of it so I though I pass it along to all of you. Good luck to us and may good get those who intensionally put us in the hell

With all due respect this was posted here many desert moons ago (last year I believe) - no one is/was a bigger advocate for Warka than I - in fact, I have continually backed them up with hard "positive" evidence (ISX emails / certificates received etc.) - so don't tell me I'm trashing Warka. I don't do wishy washy - give me facts. My latest effort has 2 emails going to the World Bank for confirmation that Warka is even on their radar any more - Ramadan could be delaying the response. With that being said, we can all agree Warka seems to be sliding further into an abyss.

"Give me facts" - I know some of my posts have strayed from this notion - but it was a "what if" scenario, and I stated it as such - (Bunnia / Warka dumped out - took all funds and backed Standard Chartered with no link to Warka or it's existing depositors at all - well, except for a few privileged elite) - this prompted me to contact the World Bank and confirm if Warka is still alive in their eyes - opinions and comments initiate conversation which many times turns into action - so now we wait for the World Bank to confirm Warka's level of existence. If anyone else has any other ideas to expedite this project let us know, or start a research program of your own.

Oh and please, please, please don't let me hear you say "but your theory on Warka / Standard Chartered would be illegal" seriously ?... nothing in Iraq has been "legal" for a very long time - in fact, fly into Iraq and confront the ISIS, tell them what they're doing right now is illegal and to "please stop" - see how long you last. The ISIS mentality has spilled over into every nook and cranny of Iraq - it's dog eat dog and every man for himself. In fact, The US Military has lost millions in Warka and they can't get it back using their arsenal - I'll bet their letters / emails are a lot harsher than ours.

Anyway, lets hope Warka is still on the WB radar at all and go from there. Good luck to all.

TTFN

Screaming Eagle
07-12-2014, 04:38 PM
I would doubt that the World Bank would have any information on Warka either in the past or future as its purpose is to aid third world countries. I doubt they would know that a small private bank as Warka even exists. The IMF which is the central bank for central banks of countries might be a better source of information provided the CBI would release such information to the IMF. Other than that there is no reason why Warka would have any contact with the World Bank or the IMF as they are not a member of either. Any function of Warka is determined by the CBI.

Screaming Eagle
07-12-2014, 04:46 PM
If there is nothing legal in Iraq then the courts decision regarding Warka means nothing, right. And of course if Warka's funds had been stolen and invested in SC the court would have ignored it. And or course the audits provided to the courts by the CBI and the independent auditors would have been fixed by Bunnia to hid his stolen funds to SC. Yep, makes sense!!! To some.

thebest
07-12-2014, 06:38 PM
no one is/was a bigger advocate for Warka than I - in fact, I have continually backed them up with hard "positive" evidence (ISX emails / certificates received etc.) - so don't tell me I'm trashing Warka. I don't do wishy washy - give me facts.



Anyway, lets hope Warka is still on the WB radar at all and go from there. Good luck to all.

TTFN
You said you're BIGGEST ADVOCATE FOR WARKA and you have HOPE FOR WARKA. QUE MENTIRA.
JAJAJA.
HARD POSITIVE EVIDENCE. POSITIVE NO NEGATIVE.
JAJAJA.

ChinaGirl
07-13-2014, 11:36 PM
I would doubt that the World Bank would have any information on Warka either in the past or future as its purpose is to aid third world countries. I doubt they would know that a small private bank as Warka even exists. The IMF which is the central bank for central banks of countries might be a better source of information provided the CBI would release such information to the IMF. Other than that there is no reason why Warka would have any contact with the World Bank or the IMF as they are not a member of either. Any function of Warka is determined by the CBI.


SC - I love you to death and respect a good debate ... please know that to be true. If what you say is true (CBI in charge of Warka's return/demise) then you are backing my theory (re: no legal order) . CBI (at his point) should not be delegating whether Warka survives or not - the high court(s) have / has said that Warka must be paid restitution as per a falsely imposed "tutelage" by the CBI. So, logically, the CBI should be restoring ( by court order) Warka's good standing (as a bank and otherwise) - A court does not rule and then the culprit (CBI) decide the fate of the victim (Warka) - what kind of civilization would that produce ?

I have a pretty good example ... "Iraq".

Screaming Eagle
07-14-2014, 01:12 AM
SC - I love you to death and respect a good debate ... please know that to be true. If what you say is true (CBI in charge of Warka's return/demise) then you are backing my theory (re: no legal order) . CBI (at his point) should not be delegating whether Warka survives or not - the high court(s) have / has said that Warka must be paid restitution as per a falsely imposed "tutelage" by the CBI. So, logically, the CBI should be restoring ( by court order) Warka's good standing (as a bank and otherwise) - A court does not rule and then the culprit (CBI) decide the fate of the victim (Warka) - what kind of civilization would that produce ?

I have a pretty good example ... "Iraq".Warka is a Sunni owned bank and the CBI is Shiite controlled. Right now its all any Sunni can do just to keep from being executed in Bagdad much less contest any Shiites at the central bank. Do you understand that if Iraq is split that the CBI as it is right now will cease to exist. Already the CBI in Mosel has been looted and the CBI branch in Kurdistan, is now under Kurdish control. Meanwhile people here are living in LaLa land thinking the Shiite government and Shiite Central Bank are going to fund a Sunni bank while there is a civil war and the Sunnis are trying to overthrow the Iraqi government. Regardless of any court decision the only law in Iraq now is who is the strongest militarily. Iraq as a country 6 months ago no longer exists. At the moment it doesn't even have a functioning government.

oldskiier
07-14-2014, 02:15 AM
Warka is a Sunni owned bank and the CBI is Shiite controlled. Right now its all any Sunni can do just to keep from being executed in Bagdad much less contest any Shiites at the central bank. Do you understand that if Iraq is split that the CBI as it is right now will cease to exist. Already the CBI in Mosel has been looted and the CBI branch in Kurdistan, is now under Kurdish control. Meanwhile people here are living in LaLa land thinking the Shiite government and Shiite Central Bank are going to fund a Sunni bank while there is a civil war and the Sunnis are trying to overthrow the Iraqi government. Regardless of any court decision the only law in Iraq now is who is the strongest militarily. Iraq as a country 6 months ago no longer exists. At the moment it doesn't even have a functioning government.


YEP !... I'm afraid your right !!!... what about the ISX...???

BatmaninIraq
07-14-2014, 03:12 AM
Nothing to worry about al warka we will get paid soon....

HumbleGenius
07-14-2014, 12:06 PM
Warka is a Sunni owned bank and the CBI is Shiite controlled. Right now its all any Sunni can do just to keep from being executed in Bagdad much less contest any Shiites at the central bank. Do you understand that if Iraq is split that the CBI as it is right now will cease to exist. Already the CBI in Mosel has been looted and the CBI branch in Kurdistan, is now under Kurdish control. Meanwhile people here are living in LaLa land thinking the Shiite government and Shiite Central Bank are going to fund a Sunni bank while there is a civil war and the Sunnis are trying to overthrow the Iraqi government. Regardless of any court decision the only law in Iraq now is who is the strongest militarily. Iraq as a country 6 months ago no longer exists. At the moment it doesn't even have a functioning government.

Yep, that about says it all.

Screaming Eagle
07-14-2014, 12:38 PM
YEP !... I'm afraid your right !!!... what about the ISX...???Depends on where the business is located. In general I doubt that few would invest in Iraq at the moment. Most investment is leaving including foreign banks. Where would you invest, in the Shiite section or the Sunni section. How did the ISX do in the last war?? That's your answer. Parts of Iraq will still show GDP growth however that's because the GDP for 34 million people is so small to start with. Most of the GDP growth is in Kurdistan.

Kickabuck
08-05-2014, 12:02 AM
...You might expect Warka to return to service just as soon as the Sunni defeats the Shiite and takes control of the country and banking system...

Oh my! First the DOW prediction that was 90% accurate, doubling invertors funds, now the Sunni intervention...are you a descendant of Nostradamus? Please elaborate on Warka justice when your powers permit!