PDA

View Full Version : Activity stop Warka Brokerage Company with effect from Sunday session 12-28-2014



thebest
12-31-2014, 02:31 PM
Activity stop Warka Brokerage Company with effect from Sunday session 28/12/2014 12/28/2014 09:02

Given counting commitment Warka Brokerage Company to submit a letter of guarantee in the amount equivalent to the capital of the company decided to suspend work on the company's activity in the market under our No. 2276 on 12.28.2014 with effect from Sunday, 28.12.2014 session.

الأخبـــار (http://www.isx-iq.net/isxportal/portal/storyDetails.html?type=2&storyId=2296)













الأخبـــار (http://www.isx-iq.net/isxportal/portal/storyDetails.html?type=2&storyId=2296)بالنظر لعد التزام شركة الوركاء للوساطة بتقديم خطاب ضمان بمبلغ يعادل راسمال الشركة تقرر ايقاف نشاط الشركة عن العمل في السوق بموجب كتابنا المرقم 2276 في 28/12/2014 اعتبارا من جلسة الاحد الموافق 28/12/2014 .





View on (http://www.isx-iq.net/isxportal/portal/storyDetails.html?type=2&storyId=2296)www.isx-iq.net (http://www.isx-iq.net)

Preview by Yahoo











http://www.isx-iq.net/isxportal/files/story0_114_12_0_9_2_39.pdf

Will-it-happen?
12-31-2014, 03:22 PM
for what reason they need deposit this "given capital of the company" ?

They not been paying their bills or do all brokers need to do this ?

mike032588
12-31-2014, 03:35 PM
for what reason they need deposit this "given capital of the company" ?

They not been paying their bills or do all brokers need to do this ?


im not sure my guy read and translated for me saying this is saying warka is suspended?

Yeah that is what it says and it is dated on the 28th Dec 2014





Due to not presenting a letter of guarantee of Alwarka'a company capital.

HumbleGenius
12-31-2014, 03:54 PM
im not sure my guy read and translated for me saying this is saying warka is suspended?

A brokerage firm cannot operate if it does not have a viable financial institution associated w it. Most of us have accepted the fact that Warka has gone under. Hence the Warka brokerage does not have capital to stand behind since it is not associated w a financial institution.

So now maybe some more members here that used Warka understand my point that we have been broken off from the ISX. Sooner or later if that sh..thole called Iraq gets its head out of his arse we will need to open up a new brokerage/bank account w a different outfit. And that is only to possibly salvage those stocks that are in our good name. Forget about those held in Warka proxy.

I am looking forward to seeing the first prank of the new year pulled on those still naive enough to think we will get anything from Warka when this is all said and done. When the automatic interest is posted to our faux accounts tonight I am anxious to see how many dopes thinks that Warka is still going.

All above IMHGO and only stated with good intent and malice towards none. Happy New Year!

HumbleGenius
12-31-2014, 03:58 PM
The brokerage is suspended because the bank cannot or wont (for the dreamers) provide evidence that they have any money in the bank.

mike032588
12-31-2014, 04:13 PM
its dire for warka bur i promise to fight to the day of my death to get my money back... i invested over 65k into this... at one point it was worth over 500k from warka free shares and recently from iraqi seed production... but wtf man lets go warka... i believe that this is not their fault however it dont change the fact they are still is a stand still period.. i just dont believe the bunnia family is going to let their family back crumble because of partstion politics..

pirata
12-31-2014, 04:22 PM
Just moving to esx!!

40plus
12-31-2014, 07:20 PM
My humble opinion..I think that the Bunnia family was attacked by Malaki (as was Shabbi & a few others). Malaki was pissed that Warka did not get involved with Standard Chartered, who were more than pleased to help him steal and launder billions..but Warka wouldn't take the bait and has had to fight for their position, as Mr. Al Bunnia stated in his very diplomatic letter to depositors. Malaki & his thugs have set Iraq's recovery back ten years..but now it seems Abadi is doing great work in bringing stability to pass and I think Warka will pull through this in the interm.

A few here might say I am delusional and only grasping for straws so as not to have to cope with a big loss..but anyone who has been in any type of life or death encounter (and this is still War In Iraq) knows it ain't over till it's over...and baby, it ain't over yet! :cool:

dinar_dude
12-31-2014, 08:17 PM
I still think it's up to the government of Iraq, the finance ministry, and the CBI to make sure the ruling from the courts are carried out. Not the greatest news, yes.
Warka is owed damages and it may take a long time for them to get it, especially with the GOI in the state it's in.

The banking operations are suspended, they likely have very low liquidity and capital, and are waiting for the government to come through.
I'm hoping that the new government under Abadi will not allow this to drag out further, since they cannot allow Iraqis and foreign depositors to grow the idea that Iraq is unreliable for investment

investindinar
12-31-2014, 08:43 PM
... Warka is owed damages and it may take a long time for them to get it, especially with the GOI in the state it's in... banking operations are suspended, they likely have very low liquidity and capital, and are waiting for the government to come through. I'm hoping that the new government under Abadi will not allow this to drag out further, since they cannot allow Iraqis and foreign depositors to grow the idea that Iraq is unreliable for investment

I agree that Al Warka's legal situation is the fundamental reason why they're not listed and trading on the ISX or any other exchange. They're simply not allowed to until they receive due compensation for damages from the CBI and the MoF (if they were involved). They need to demonstrate to any exchange they desire to be listed on that they have sufficient capital to resume operations. At the present time they can't do that for obvious reasons.

Today 12/31, when they posted the semi-annual interest due on my savings account (3% for six months or 6% per annum), I noticed that they dropped the interest rate from 7% compounded semi-annually to 6% compounded semi-annually. This may a contrarian indicator, but it shows me that the bank continues to credit interest when due, and at a lower, albeit more acceptable interest rate to the governing authority. I know from information posted in the past that the interest rate they were offering on their deposits was outside the bounds of what the governing authority considered acceptable and may have been too aggressive.

In addition, every time I asked them in the recent past (as recently as last summer) to sell any of the stock shares that they hold in trust on my behalf, they did not hesitate to sell whatever shares I asked them to without any unnecessary delays or misgivings. Following the sales, I received an Excel spreadsheet with all the details and the cash balance on my savings account reflected the activity accurately. So, I honestly don't see why some individuals keep bringing up the issue that everyone has lost their cash deposits with the bank, or that their stock shares are somehow compromised, stolen or no longer under the control of Al Warka Investment Bank.

I do find some encouragement in the progress being made by the new PM Haider Al Abadi, the recent decision by the Iraqi courts to reverse the conviction of Sinan Al Shabibi, and piecemeal removal of the extremely toxic detritus left over by Nuri Al Maliki's regime, bit by bit. However, that's going to take some time and I'm hoping that by this time next year (12/31/2015), we'll see Al Warka restored to full operations, their stock re-listed on the ISX and Erbil Exchange, their shareholders compensated, and ISIS as a footnote in Iraqi history. I think it's doable.

Happy New Year everyone!!!

ChinaGirl
12-31-2014, 10:10 PM
I agree that Al Warka's legal situation is the fundamental reason why they're not listed and trading on the ISX or any other exchange. They're simply not allowed to until they receive due compensation for damages from the CBI and the MoF (if they were involved). They need to demonstrate to any exchange they desire to be listed on that they have sufficient capital to resume operations. At the present time they can't do that for obvious reasons.

Today 12/31, when they posted the semi-annual interest due on my savings account (3% for six months or 6% per annum), I noticed that they dropped the interest rate from 7% compounded semi-annually to 6% compounded semi-annually. This may a contrarian indicator, but it shows me that the bank continues to credit interest when due, and at a lower, albeit more acceptable interest rate to the governing authority. I know from information posted in the past that the interest rate they were offering on their deposits was outside the bounds of what the governing authority considered acceptable and may have been too aggressive.

In addition, every time I asked them in the recent past (as recently as last summer) to sell any of the stock shares that they hold in trust on my behalf, they did not hesitate to sell whatever shares I asked them to without any unnecessary delays or misgivings. Following the sales, I received an Excel spreadsheet with all the details and the cash balance on my savings account reflected the activity accurately. So, I honestly don't see why some individuals keep bringing up the issue that everyone has lost their cash deposits with the bank, or that their stock shares are somehow compromised, stolen or no longer under the control of Al Warka Investment Bank.

I do find some encouragement in the progress being made by the new PM Haider Al Abadi, the recent decision by the Iraqi courts to reverse the conviction of Sinan Al Shabibi, and piecemeal removal of the extremely toxic detritus left over by Nuri Al Maliki's regime, bit by bit. However, that's going to take some time and I'm hoping that by this time next year (12/31/2015), we'll see Al Warka restored to full operations, their stock re-listed on the ISX and Erbil Exchange, their shareholders compensated, and ISIS as a footnote in Iraqi history. I think it's doable.

Happy New Year everyone!!!

For what it's worth, I thought this was well written - I did however have to laugh out loud at this one particular tid bit...

"Following the sales, I received an Excel spreadsheet with all the details and the cash balance on my savings account reflected the activity accurately"

Yes, we all have those to kick around - not worth a darn thing unfortunately. My 12 year old niece can print up as many as I/you would like. When the dust settles (if it ever does) try showing up at the CBI or ISX hearing (you know the one - who is owed what and why ?) with your Excel Spread Sheets(s) and see how quick you get paid out. It was all cute and cuddly when Warka was young (we gave them some leeway) but now you look back and it's just a farce. Hey - I was pro Warka for a long time so I get you - some are just holding on to nothing tighter than I ever did. No right or wrong here, just a difference of opinion perhaps.

Happy New Year to All.

CG

ChinaGirl
12-31-2014, 10:18 PM
Activity stop Warka Brokerage Company with effect from Sunday session 28/12/2014 12/28/2014 09:02

Given counting commitment Warka Brokerage Company to submit a letter of guarantee in the amount equivalent to the capital of the company decided to suspend work on the company's activity in the market under our No. 2276 on 12.28.2014 with effect from Sunday, 28.12.2014 session.

الأخبـــار (http://www.isx-iq.net/isxportal/portal/storyDetails.html?type=2&storyId=2296)













الأخبـــار (http://www.isx-iq.net/isxportal/portal/storyDetails.html?type=2&storyId=2296)بالنظر لعد التزام شركة الوركاء للوساطة بتقديم خطاب ضمان بمبلغ يعادل راسمال الشركة تقرر ايقاف نشاط الشركة عن العمل في السوق بموجب كتابنا المرقم 2276 في 28/12/2014 اعتبارا من جلسة الاحد الموافق 28/12/2014 .





View on (http://www.isx-iq.net/isxportal/portal/storyDetails.html?type=2&storyId=2296)www.isx-iq.net (http://www.isx-iq.net)

Preview by Yahoo











http://www.isx-iq.net/isxportal/files/story0_114_12_0_9_2_39.pdf


Surprised you posted this - usually you post in the past (from Warka's short lived Glory Days) - Now you're posting "The Good The Bad and the Ugly" ? This is just Downright Ugly - thanks I guess ? Nice to know the "updated" truth occasionally.

CG

thebest
01-01-2015, 02:33 AM
Surprised you posted this - usually you post in the past (from Warka's short lived Glory Days) - Now you're posting "The Good The Bad and the Ugly" ? This is just Downright Ugly - thanks I guess ? Nice to know the "updated" truth occasionally.

CG

You're wrong. WARKA is not trading in the ISX since 11-26-2013. Even the WARKA ISX e-mail was removed for his site before this new. Even WARKA paid the interesting today 12-31-2014. WARKA is a shareholder in the ESX and to me WARKA isn't interesting no more in the ISX. WARKA will not showing his card. When the time came the CBI and the GOI have to rehabilitate and paid for damages to WARKA.
So all this peoples that need to find another brokers do it and tells how you're doing with you new broker. Don't forget the minimum $10,000 for open a new account and stop complaining and move out of WARKA. You're especially only complaint and have do nothing. You and the other crusader have the $10,000?. Move and showing us you new adventure. You can made a new bad or good. You always are looking for the disasters.
If the administration of Investors Iraq create an other section maybe called CG Anti-WARKA Section so like ISIS they live in her only kingdom and writing all his not productivity ideas.

BatmaninIraq
01-01-2015, 03:48 AM
They just make it quick decision to set aside AL-WARKA for their purpose (RV) then after RV happens the GOI or CBI will be back into it.
Because a lot of investors involved and they just wanted to be happen as soon as possible the MAIN EVENT that we're waiting for 11 years.

ChinaGirl
01-01-2015, 03:21 PM
You're wrong. WARKA is not trading in the ISX since 11-26-2013. Even the WARKA ISX e-mail was removed for his site before this new. Even WARKA paid the interesting today 12-31-2014. WARKA is a shareholder in the ESX and to me WARKA isn't interesting no more in the ISX. WARKA will not showing his card. When the time came the CBI and the GOI have to rehabilitate and paid for damages to WARKA.
So all this peoples that need to find another brokers do it and tells how you're doing with you new broker. Don't forget the minimum $10,000 for open a new account and stop complaining and move out of WARKA. You're especially only complaint and have do nothing. You and the other crusader have the $10,000?. Move and showing us you new adventure. You can made a new bad or good. You always are looking for the disasters.
If the administration of Investors Iraq create an other section maybe called CG Anti-WARKA Section so like ISIS they live in her only kingdom and writing all his not productivity ideas.

Is "Nut Job" one word or two ? It's the Warka "Brokerage" that has collapsed this time - the bank is long gone. Wake up and smell yourself for once. JAJAJAJAJAJAJA.

Maybe you should hire an interpreter to read the news to you here - so you actually know what the "F" you're talking about.

ChinaGirl
01-01-2015, 03:31 PM
You're wrong. WARKA is not trading in the ISX since 11-26-2013. Even the WARKA ISX e-mail was removed for his site before this new. Even WARKA paid the interesting today 12-31-2014. WARKA is a shareholder in the ESX and to me WARKA isn't interesting no more in the ISX. WARKA will not showing his card. When the time came the CBI and the GOI have to rehabilitate and paid for damages to WARKA.
So all this peoples that need to find another brokers do it and tells how you're doing with you new broker. Don't forget the minimum $10,000 for open a new account and stop complaining and move out of WARKA. You're especially only complaint and have do nothing. You and the other crusader have the $10,000?. Move and showing us you new adventure. You can made a new bad or good. You always are looking for the disasters.
If the administration of Investors Iraq create an other section maybe called CG Anti-WARKA Section so like ISIS they live in her only kingdom and writing all his not productivity ideas.

You still live in a Warka "Fantasy" world -

Even WARKA paid the interesting today 12-31-2014 - Unless you have direct access to it - No they did not "pay" interest
WARKA is a shareholder in the ESX - Can you buy shares in Warka via the ESX ? - No they are not a shareholder

40plus
01-01-2015, 08:01 PM
Is "Nut Job" one word or two ? It's the Warka "Brokerage" that has collapsed this time - the bank is long gone. Wake up and smell yourself for once. JAJAJAJAJAJAJA.

Maybe you should hire an interpreter to read the news to you here - so you actually know what the "F" you're talking about.



Mean Girl..maybe you should loose some weight, get some nookie..and take something to make that PMS-Beeoch syndrome ease up. Puleeeeze, give us some peace from your constant pounding-out of emotionally tarnished crap you disguise as "opinions".

Get a life, take in a comedy show...you obviously need some practice with real humor; it might help ease the embarrassment of your poor attempts to hide your self-loathing and contempt for others via tacky 'humous' posts. The flagrant insults in your posts are simply too much..would you be happier participating in another forum, more suitable to your where you are currently in life? Perhaps Haters Annon?

HumbleGenius
01-01-2015, 08:37 PM
Warka will sell anything you ask and put the 'amount' in your account. They never stopped doing that. You, like I, until I realized it, got suckered when I sold stock and then realized they they would not then buy stock on my behalf or send me the funds. I challenge anyone on here to state they have had stock purchased on ones behalf or funds sent to one over the past year. Anyone who says they have is a blatant liar. IMHGO of course with no malice intended.

ChinaGirl
01-01-2015, 09:21 PM
Mean Girl..maybe you should loose some weight, get some nookie..and take something to make that PMS-Beeoch syndrome ease up. Puleeeeze, give us some peace from your constant pounding-out of emotionally tarnished crap you disguise as "opinions".

Get a life, take in a comedy show...you obviously need some practice with real humor; it might help ease the embarrassment of your poor attempts to hide your self-loathing and contempt for others via tacky 'humous' posts. The flagrant insults in your posts are simply too much..would you be happier participating in another forum, more suitable to your where you are currently in life? Perhaps Haters Annon?

"Bite Me" is 2 words - yes .. I'm sure of it. I hate no one - dislike a few. Do you also need an interpreter to break that down for you ?

ChinaGirl
01-01-2015, 09:25 PM
Warka will sell anything you ask and put the 'amount' in your account. They never stopped doing that. You, like I, until I realized it, got suckered when I sold stock and then realized they they would not then buy stock on my behalf or send me the funds. I challenge anyone on here to state they have had stock purchased on ones behalf or funds sent to one over the past year. Anyone who says they have is a blatant liar. IMHGO of course with no malice intended.

I second that. Like it matters :)

BatmaninIraq
01-01-2015, 10:25 PM
tImE WiLl CoMe uNtIl yOu rEaLizEd ThAt bOtH oF yOu aRe 100% wRoNg, aL-wArKa wIlL bE BaCk tO RiSe AgAin....

HumbleGenius
01-02-2015, 02:19 AM
tImE WiLl CoMe uNtIl yOu rEaLizEd ThAt bOtH oF yOu aRe 100% wRoNg, aL-wArKa wIlL bE BaCk tO RiSe AgAin....
Well I would not mind if I was wrong but I am pretty sure I am not. Generally I am right all the time.

mike032588
01-02-2015, 03:29 AM
hahash your all so funny... this is the most risky investment in the world... maybe warka will go down ... maybe not... right now it dont look good but its not over yet... im in a what ever position... time will tell... but all the well written BULL SHITTE is funny and emotional... it would better if we just relaxed and waited for real news or do what ever you can to find out and get to the bottom of it... Lawyer up ect... If i really give up I will do that in the future... not yet i still believe... for now... time will tell

oldskiier
01-02-2015, 03:59 AM
hahash your all so funny... this is the most risky investment in the world... maybe warka will go down ... maybe not... right now it dont look good but its not over yet... im in a what ever position... time will tell... but all the well written BULL SHITTE is funny and emotional... it would better if we just relaxed and waited for real news or do what ever you can to find out and get to the bottom of it... Lawyer up ect... If i really give up I will do that in the future... not yet i still believe... for now... time will tell



The only post on this thread that makes sense !!! .............

HumbleGenius
01-02-2015, 04:29 AM
I think the risk has turned into an issue. At one point the Titanic was at risk of hitting an iceberg. After hitting one it became an issue. But the band kept playing on now didn't it.

mike032588
01-02-2015, 05:18 AM
hahahaha humble yes they did and as a matter of fact.... they all died with the ship... as far as my eyes can read iraqs judicial system voted in favor of warka... will they get the money idk... but you are right.. it is an issue... but what do we do... Im all for getting organized if its not a damn china grl which hunt... BTW I LOVE U GIRL... however there are some here that let their emotion could their judgement... I think the Bunni family are real and want Warka to thrive... dont forget it was the best bank in iraq 3 years in a row... i know the glory days are over... but we are beyond hope... tick tock... OLD SKIIER I FRIGGIN MISS YOU MAN i have a baby coming in like 10 days...

BTW PSS you have 3x the amount of posts i have... and i thought i had a lot...

dinar_dude
01-02-2015, 12:47 PM
Mike, you hit on something that hasn't been discussed on this forum in a while, and that is Warka's infrastructure.

It had (has) the most locations and ATMs throughout Iraq, and that is still a key benefit for foreign institutions who may approach the bank about future business, merges, etc. The CBI would likely keep any foreign companies from undertaking a large deal with Warka while its assets are still frozen, but I think in the long-term looking forward, it's still promising. The bank may be underwater to the tune of hundreds of millions, but that would be a drop in the bucket for a western institution to resolve.

mike032588
01-02-2015, 06:03 PM
I agree but remember warka is not stupid... they turned down Standard charter... its still the ONLY article about warka EVER on bloomberg... i mean... think about that... they have the right for site... they are just fighting a bigger battle... i agree but i dont think warka is going to just give up... they have a plan... but maybe im nut and china girl is right were all doomed and dumb for believing in the ONLY bank that gave me a shot back in 06... i believe in iraq... im 26 and i got plenty of time baby... paying for my kids college... he will be 18 in 2033 should know more by than for sure.... love you all and good luck.,..

40plus
01-02-2015, 08:08 PM
"Bite Me" is 2 words - yes .. I'm sure of it. I hate no one - dislike a few. Do you also need an interpreter to break that down for you ?


Apparently, my post was a bit above your pay grade. Though I do like Asian, biting wouldn't help you. My mistake for casting pearls where I shouldn't.

40plus
01-02-2015, 08:12 PM
"What's the prognosis, Doctor"?

"your leg is broken, but will heal well in due time"

"But, I want to play kick-ball right now, I insist"!

"I'm sorry, you must let time take it's course, but it will heal"

"No, I'm calling a lawyer, I have rights..if I can't play ball now, I never will..it's impossible"!!

"Silly Child".

HumbleGenius
01-02-2015, 09:02 PM
"What's the prognosis, Doctor"?

"your leg is broken, but will heal well in due time"

"But, I want to play kick-ball right now, I insist"!

"I'm sorry, you must let time take it's course, but it will heal"

"No, I'm calling a lawyer, I have rights..if I can't play ball now, I never will..it's impossible"!!

"Silly Child".

And then the doctor says "You need to have patience like the others and keep believing you will play soccer someday. In the meantime while you are here do you want me to surgically extract your head from your arse or do you want to keep it there like some of the others are doing?"