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thebest
01-20-2015, 09:04 AM
Warka Bank .. years and depositors' money is lost between the central bank and the bank management

07/07/2014 16:07

Tomorrow Press / Baghdad: Muhannad Mustafa
If we want to escape from the fear of the reality in which we live our money and financial amounts that may be all we have what we have, but the direction to the nearest bank in the capital, or the city that inhabit where to put bank deposits are in the custody bank so be assured the money from theft and fraud, but The issue in the Warka Bank radically different, as the order another tale. 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 case far removed 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 a real pause by the current government. "tomorrow Press" I spoke with a number of citizens who 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 "You can not stay in this situation, which is not likely Vomwali deposited in the bank four years ago Tkvana and my family for a period of time, I want to retrieve, in any way, not my fault that was the management of the bank correct or wrong, the fact that the issue concerning my receivables since 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, there is no solution, not the management of the bank, not from the central bank, not from the government, and after the custody of the bank's decision We are encouraged, but things remain as they are, When the change of the Central Bank of God thanking 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 the filter means go and the loss of sums and our money. " strange decisions from the bank and shows Khadr 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 will return soon, but the great disaster that big shareholders in the bank agreed with the Governor of the Central Bank and the Agency on deposit amounts not too bad during the period of six to nine months, but the sad thing is that the central bank refused and insisted on a strange decision, which pay the amount of two hundred billion Iraqi dinars, and during the period up to the end of last year. " He continues, Ala for "tomorrow's Press," that "the bank is not willing to pay this huge amount, especially as he a stagnating abnormal, making it the liquidation decision enters into force, and this decision is lost rights of all depositors in the bank. " is the fruit of effort lean years while see Firas Mohammed, an employee in a civil company, said, "This money is the fruit of tired of our fathers and our people for many years can not go and get lost because of the policies and the mistakes of the Warka Bank and the decisions of the central bank, which is a disaster for us and our families and our children so it should be. " He demanded to take "rational decision by the higher authorities in the country to take the necessary and return the money." case would destroy hundreds of families for its part called roar Azzawi , teacher, "the central bank and the Iraqi government to redress the bank and stand by his side to the fact that the world economic and trade its crises and on an annual basis, especially as more banks worldwide known states stumble and Taatlki all their work so requires the state to be a real shepherd to maintain the people's money, but in my country it is completely different. " She said al-Azzawi in her speech for "tomorrow Press", "according to a scientific and permanent follow-up to the work of this bank is there are thousands of citizens south and north of Iraq who have the amounts deposited in the bank." considers al-Azzawi said, "These thousands of people will be lost their rights because of administration a failed bank and the decisions of the central bank, which will be demolished and the disintegration of thousands of Iraqi families. " weak oversight and performance major reason for the crisis , and in this regard the economic expert on behalf of Jamil Antoine explains, "It can not be that the state remains unable to make decisions that will be the solution, and the solution lies in lending bank amounts and sufficient funds to pay all deposits in, but this process has not been not the loan is given, which caused the entire collapse of a big reputation and institution bank known in the country. " He adds Antoine for "tomorrow's Press," that "the helpless bank to repay its commitments and money due to the fact that all property in his possession is subject to, the central bank, the guardianship of the bank for a period of 18 months, but it ended without any results only increase in the crisis, so it is assumed the central bank that bears the responsibility that can not be finished for this reduction is not enough resolution. " . confirms Antoine that "the bulk of the crisis lies with the state did not do its regulatory and finance from the outset to avoid getting hold such a crisis caused a great loss to all depositors in the bank, the central bank will not stay in the position of the spectator which demonstrates the weakness of addressing the economic and professional status and scientific in Crisis. " central bank .. Warka Bank needs to simple administrative organization for his part, said the deputy governor of the former Central Bank of the appearance of Mohammed Saleh, said that "step bank raised guardianship for Warka Bank, after a period of almost a good two financial sense, because it would give a good indicator of the guarantees of bank and financial dealing in Iraq, "expressing his surprise at the" delayed guardianship raise despite offering a number of international financial organizations and the reports of interpretation from the return of the Warka Bank to work. "Saleh added in a statement seen by "tomorrow Press," that "the Warka Bank need to Simple administrative organization to return to the financial arena, also requires that there be a real help from the government represented by the Ministry of Finance through the development of long-term deposit in the bank even help him to the Financial Action Task Despite the high financial asset size for the debt. " Saleh continued that " The duty of government is to keep the financial situation of the country, because the Warka Bank not only holds the owners him money, but there are large sums of money to citizens who are part of the financial system of the country and help the Ministry of Finance of the Bank of Warka due now, adding that "with guardianship for Warka Bank lifted, was left Only one bank, which (via Iraq), and can not be called a recommended it a label, because the theme is nearing its decisiveness by the Central Bank and borrowers. " lift the guardianship will strengthen the role of the bank for his part welcomed a member of the Board of Directors in Warka Bank Essam al-Asadi decision of the Central Bank, describing it as "decision equitable because it would strengthen the role of the bank in the financial system." He added 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 liabilities that do not exceed Al380 billion dinars. " The Central Bank of Iraq has decided in March of 2012, the imposition of trusteeship on the Warka Bank because of obstructed in the financial performance of more than two years, while the Bank to submit reports to prove his return to the resumption of banking activity for guardianship lift. It is noteworthy that the Warka Bank for Investment was established in 1999 and is the highest technical levels, the first Iraqi private banks that rely electronic accounting and the number of branches 130 branches in addition to operating branches outside Iraq.

http://alghadpress.com/ar/news/16296/%D9%85%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D9%88%D8%B1%D9%83%D8%A7%D8%A1-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D9%88%D8%A7%D9%85%D9%88%D8%A7%D9%84-%D8%A7%D9%84%D9%85%D9%88%D8%AF%D8%B9%D9%8A%D9%86-

pirata
01-20-2015, 09:18 AM
Neg comments gets a ________ one more
time,but this time with a date on the beach
Hayyy,hayyyy contra!!!

ChinaGirl
01-20-2015, 01:22 PM
Interesting read ... Foreign accounts getting stiffed is one thing - But even with "thousands" of local accounts on hold for years, both parties continue to finger point with nothing moving forward. I'm not entirely sure who is even to blame here - it sounds like Warka needs to show some "organization" but the CBI doesn't even intend to provide assistance at any level.

Some things that stood out for me...

"deposits placed in the bank can not go back to the citizens and in any form"

"When the change of the Central Bank of God thanking 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 the filter means go and the loss of sums and our money."

"the central bank refused and insisted on a strange decision, which pay the amount of two hundred billion Iraqi dinars, and during the period up to the end of last year. " He continues, Ala for "tomorrow's Press," that "the bank is not willing to pay this huge amount, especially as he a stagnating abnormal, making it the liquidation decision enters into force, and this decision is lost rights of all depositors in the bank. "

"Warka Bank needs to simple administrative organization for his part, said the deputy governor of the former Central Bank of the appearance of Mohammed Saleh...."Saleh added in a statement seen by "tomorrow Press," that the Warka Bank need to Simple administrative organization to return to the financial arena,"

This looks like the stumbling block:

"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 liabilities that do not exceed Al380 billion dinars. " The Central Bank of Iraq has decided in March of 2012, the imposition of trusteeship on the Warka Bank because of obstructed in the financial performance of more than two years, while the Bank to submit reports to prove his return to the resumption of banking activity for guardianship lift.

So... is it the CBI using this as an excuse not to pay out the settlement - or, has Warka (read Bunnia) taken the 500 Billion Dinars and run off into the desert with it ?

Bottom line - Bunnia needs to prove to the CBI that he has 500 B IQD at his disposal in order to receive 200 B IQD from the imposed settlement. Do you trust coming clean to the CBI ? Without the fear of losing that (500 B) too ? So here in lies the dilemma I presume - one does not trust the other. And neither trust the government as a mediator - so who gets that job ? Once that's decided we may seem some progress.

HumbleGenius
01-20-2015, 04:44 PM
Interesting read ... Foreign accounts getting stiffed is one thing - But even with "thousands" of local accounts on hold for years, both parties continue to finger point with nothing moving forward. I'm not entirely sure who is even to blame here - it sounds like Warka needs to show some "organization" but the CBI doesn't even intend to provide assistance at any level.

Some things that stood out for me...

"deposits placed in the bank can not go back to the citizens and in any form"

"When the change of the Central Bank of God thanking 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 the filter means go and the loss of sums and our money."

"the central bank refused and insisted on a strange decision, which pay the amount of two hundred billion Iraqi dinars, and during the period up to the end of last year. " He continues, Ala for "tomorrow's Press," that "the bank is not willing to pay this huge amount, especially as he a stagnating abnormal, making it the liquidation decision enters into force, and this decision is lost rights of all depositors in the bank. "

"Warka Bank needs to simple administrative organization for his part, said the deputy governor of the former Central Bank of the appearance of Mohammed Saleh...."Saleh added in a statement seen by "tomorrow Press," that the Warka Bank need to Simple administrative organization to return to the financial arena,"

This looks like the stumbling block:

"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 liabilities that do not exceed Al380 billion dinars. " The Central Bank of Iraq has decided in March of 2012, the imposition of trusteeship on the Warka Bank because of obstructed in the financial performance of more than two years, while the Bank to submit reports to prove his return to the resumption of banking activity for guardianship lift.

So... is it the CBI using this as an excuse not to pay out the settlement - or, has Warka (read Bunnia) taken the 500 Billion Dinars and run off into the desert with it ?

Bottom line - Bunnia needs to prove to the CBI that he has 500 B IQD at his disposal in order to receive 200 B IQD from the imposed settlement. Do you trust coming clean to the CBI ? Without the fear of losing that (500 B) too ? So here in lies the dilemma I presume - one does not trust the other. And neither trust the government as a mediator - so who gets that job ? Once that's decided we may seem some progress.

Per the other thread I have to believe the primary warka stock holder cut and ran to limit his overall losses, if he did incur losses. I wonder if he was smart enough as I would have done, in that environment to purchase all the property Warka was buying over the years for the new branches ahead of time and then he sold it to warka for twice the price. Ka ching.

oldskiier
01-21-2015, 05:38 AM
what about our shares in the ISX..... even in proxy.... our names are in the bank as the asset holders of those shares.... Warka is only 1/3 of my holdings...some how they will have to make good on the other shares or funds from other compaines... as they are in the hands of the ISX ..or the Companies they are issued on ..??? any thoughts..??

HumbleGenius
01-21-2015, 02:25 PM
what about our shares in the ISX..... even in proxy.... our names are in the bank as the asset holders of those shares.... Warka is only 1/3 of my holdings...some how they will have to make good on the other shares or funds from other compaines... as they are in the hands of the ISX ..or the Companies they are issued on ..??? any thoughts..??

This is just me. Not suggesting or bashing anyone. Personally I have grave reservations regarding Warka stock itself and those other companies they in theory have on my behalf. Do I really know, of course not. But I have not seen a single sign to believe otherwise. I think Elvis has left the building.
For those shares that are in theory in my name are registered on the ISX exchange. However they sre in limbo. No one is performing the administrative maintenance such as free share reception, etc on my behalf (let alone cash dividends). To get to those stocks in my name I believe I have to open up a new bank account with a new broker and go through them to begin the management of those shares that are not 'lost'.
With the current instability over there now I am not willing to take action. I am in limbo with significant belief on the final day all will be lost in regard to my investment in this high risk game. That is just me and anybody else can think otherwise.

investindinar
01-21-2015, 04:38 PM
what about our shares in the ISX..... even in proxy.... our names are in the bank as the asset holders of those shares.... Warka is only 1/3 of my holdings...some how they will have to make good on the other shares or funds from other compaines... as they are in the hands of the ISX ..or the Companies they are issued on ..??? any thoughts..??

I cut and pasted the entire article quoted above on a separate document, and after very carefully parsing through every sentence of this very awkward and difficult translation, here's my conclusion:

They're still waiting on the CBI to make up its mind on how much and when to compensate Al Warka Investment Bank, and allow it to reform to full operation with the necessary operating capital - even if that meant getting a loan from the Ministry of Finance (another player in this drama). Even after lamenting the actions that compelled the CBI to place Al Warka under custodianship, the author of this article voiced their surprise at the length it has taken the CBI to take the necessary corrective actions after the custodianship was supposedly lifted, but did not believe that the monies held in account were permanently lost in any way shape or form.

Basically nothing new. Everyone is still waiting.

Other than that, I don't see any reason why everyone should be throwing in the towel and walk away saying 'all is lost', etc.

My 2 dinars worth of opinion from reading the tea leaves on this ongoing drama....

dinar_dude
01-21-2015, 08:03 PM
I agree. The wheels turn slowly.
One of the worst things about this ordeal is trying to make heads of tails from this mishmash. In the absence of clear information, let's not get crazy. The court has ordered the CBI or whoever to accommodate Warka, I just think it'll be a long time in coming.

Will-it-happen?
01-23-2015, 11:51 PM
This article is from 7th July 2014

HumbleGenius
01-24-2015, 01:04 AM
This article is from 7th July 2014

Please stop the bashing!!

Will-it-happen?
01-24-2015, 02:44 AM
Please stop the bashing!!

not bashing, just saying, thats all

oldskiier
02-10-2015, 03:35 PM
WOW !! Looks Like They are still in business !!!!! :) .............

Dear Sir,

The new online password is: XXXX

Please note that the online link is: https://onlinebanking.warka-bank-iq.com/IBS/index.jsp (https://onlinebanking.warka-bank-iq.com/IBS/index.jsp)

For any further questions or inquiries regarding your online account please have the client contact the e-banking team e-bank@warka-bank-iq.com and we will provide our full cooperation and support.


E-banking Department
Warka Bank for Investment and Finance

From: Mohammad K. Issa
Sent: Sunday, February 01, 2015 10:42 AM
To: laith alamir
Subject: FW: Bank Account Info.........

Will-it-happen?
02-10-2015, 04:02 PM
WOW !! Looks Like They are still in business !!!!! :) .............

Dear Sir,

The new online password is: XXXX

Please note that the online link is: https://onlinebanking.warka-bank-iq.com/IBS/index.jsp (https://onlinebanking.warka-bank-iq.com/IBS/index.jsp)

For any further questions or inquiries regarding your online account please have the client contact the e-banking team e-bank@warka-bank-iq.com and we will provide our full cooperation and support.


E-banking Department
Warka Bank for Investment and Finance

From: Mohammad K. Issa
Sent: Sunday, February 01, 2015 10:42 AM
To: laith alamir
Subject: FW: Bank Account Info.........

and did you ask them where your money is ?

dinar_dude
02-10-2015, 06:09 PM
Nice! thanks for sharing!


WOW !! Looks Like They are still in business !!!!! :) .............

Dear Sir,

The new online password is: XXXX

Please note that the online link is: https://onlinebanking.warka-bank-iq.com/IBS/index.jsp (https://onlinebanking.warka-bank-iq.com/IBS/index.jsp)

For any further questions or inquiries regarding your online account please have the client contact the e-banking team e-bank@warka-bank-iq.com and we will provide our full cooperation and support.


E-banking Department
Warka Bank for Investment and Finance

From: Mohammad K. Issa
Sent: Sunday, February 01, 2015 10:42 AM
To: laith alamir
Subject: FW: Bank Account Info.........

ChinaGirl
02-10-2015, 08:48 PM
WOW !! Looks Like They are still in business !!!!! :) .............

Dear Sir,

The new online password is: XXXX

Please note that the online link is: https://onlinebanking.warka-bank-iq.com/IBS/index.jsp (https://onlinebanking.warka-bank-iq.com/IBS/index.jsp)

For any further questions or inquiries regarding your online account please have the client contact the e-banking team e-bank@warka-bank-iq.com and we will provide our full cooperation and support.


E-banking Department
Warka Bank for Investment and Finance

From: Mohammad K. Issa
Sent: Sunday, February 01, 2015 10:42 AM
To: laith alamir
Subject: FW: Bank Account Info.........

With all due respect - could be a cut and paste being used by anyone with access to our emails - got the same email some time ago - we prob. even have the same log on / in password LOLOLOL.


From: laith alamir <e-bank.ms@warka-bank-iq.com>
Date: Wed, 13 Aug 2014 11:18:50 +0300
To: Mohammad Kamal <ifrd@warka-bank-iq.com>
Subject: RE: Warka Account XXXXXX




Dear XXXXXXX,

The new online password is: XXXX

Please note that the online link is: https://onlinebanking.warka-bank-iq.com/IBS/index.jsp (https://onlinebanking.warka-bank-iq.com/IBS/index.jsp)

For any further questions or inquiries regarding your online account please have the client contact the e-banking team e-bank@warka-bank-iq.com and we will provide our full cooperation and support.


E-banking Department
Warka Bank for Investment and Finance

oldskiier
02-11-2015, 04:22 AM
I don't care who sent it !!! some one at the banks Email ...seen my email and sent me a password that works !!! Hope is still alive !! I don't care what anyone says !!! ...and it came from Mr. Issa's address..... who has sent me many many emails in the past !!


I just noticed the date.... Feb. 1st and I got it yesterday.... wow... takes 9 days for email to get here..?? crazy !

cesspool
02-11-2015, 01:47 PM
I have been a member of this forum for six years (since my first investment in Warka Bank) and this is my first post. Over the years I have seen many of you turn yourselves inside out with frustration over the rise and fall of Warka and I share this wholeheartedly.

I have no idea what's going to happen in the future. I still believe the guardianship of Warka was politically driven at the time and still hope the Bunia family is working in a very sensitive Shiite/Sunni climate to overturn the CBI decision. Nothing new with this sentiment I know.

What I don't understand is the angst about online access to accounts - whether they exist or not! Every three months you need to change your password.

Login into Online Banking and agree to Security Disclaimer. Then follow the prompts with your account number, code (copy as shown) and then password on next screen. This leads you to the account screen with your name, your last login date and the date when your password expires.

Hit Account Operations to display your account details and take a screen shot. Note the interest that gets paid in every six months and give yourself a thumbs up. Then, cross your fingers, pray to God (or whomever) and log out. Repeat three months later. Simple really!

You will save yourselves a whole lot of grief waiting for an email response.... and stop beating each other up!

Patton
02-11-2015, 01:53 PM
I've given up on Warka. Hate to admit it but looking at everything concerning Warka, Iraq politics, Iraq war, and absolutely no FDIC for Banking industry. I invested foolishly in this venture. Should have known better but I did it anyway. If one remembers history, you only have to look at our own banking back in the 1800's. Banks would just fold up and disappear with citizens having no recourse except to find the bank crooks and shoot them. But unfortunately we can't get back into Iraq to find the swindlers who stole our money. The stock market has also taken a bust in Iraq. I've spent too much time chasing this investment. Seriously they have not updated the website in 5 years. And when some kid sitting at an internet café in Jordan posts a new message to Warka's site his spelling is poor at best.

Kickabuck
02-11-2015, 03:00 PM
This was posted about a month ago on another forum...just spreading the gossip to stir things up.

It has been a while since my last post so a posting is due now. I have not heard any news to report other than that the branch of Warka that I opened my account at is still open, maned by mostly guards and may be one or two employees. That branch is in Sulaymani-Kurdistan Iraq. Beside that, I say if ICB (Iraq central bank) is flush with money and the country is doing well we may have better hope for a resolution. However, Oil which funds about 95% or so of the country's bud...get is now priced at 50% below what the Iraqi government has based its budget on, and any funds that becomes available will go to defending Iraq against ISIS attacks. I may be a pessimist but this is the reality. I still believe that the best and only way to have any hope to get our money is by legal means initiated in the US. I hope some of you have some leads into that approach. Iraq is using US courts system to go after protecting its interest, they are parties in many cases pending today. All these cases relate to Iraq's revenue just as ours is. Good luck to us and please participate and be active because no one is going to do it for you but yourself.

HumbleGenius
02-11-2015, 05:17 PM
I don't care who sent it !!! some one at the banks Email ...seen my email and sent me a password that works !!! Hope is still alive !! I don't care what anyone says !!! ...and it came from Mr. Issa's address..... who has sent me many many emails in the past !!


I just noticed the date.... Feb. 1st and I got it yesterday.... wow... takes 9 days for email to get here..?? crazy !
Kidding aside it would not surprise me if every email that goes to or from Iraq is not only electronical mined but literally put in a queue for some NSA type to visually inspect. Hence the delay? Just a thought.

12349876
02-11-2015, 06:39 PM
I'm going to ride this boat till the end. Warka is paying me 3% on my investment and has never missed a payment (read increased account balance). I may not be able to withdraw the sum at the moment, but there is nowhere lese that is paying that high interest, so I can wait it out.

BTW, to show my belief that Warka will make good on their funds, I am willing to buy anyone out that wants to bail. If you think you will lose your investment, sell your account to me. I will pay only a small fraction of the value, but anything is better than nothing for you, right?

CDR CHOP
02-23-2015, 07:27 AM
I recently changed my password on the Warka website and now I cant remember what I changed it too. What are the minimum password requirements such as number and type of characters? Thanks in advance. I'm hoping your help will spark my memory as to what I may have changed it to.

dinar_dude
02-23-2015, 05:43 PM
Yes, I think that while they have been under CBI control, Warka has been instructed to severely limit its banking operations. The CBI mentioned this same thing about Basrah bank before it went under CBI control. I don't think all is lost yet. I'd sure like to get in contact with Mr. Issa though, and see what he thinks.


WOW !! Looks Like They are still in business !!!!! :) .............

Dear Sir,

The new online password is: XXXX

Please note that the online link is: https://onlinebanking.warka-bank-iq.com/IBS/index.jsp (https://onlinebanking.warka-bank-iq.com/IBS/index.jsp)

For any further questions or inquiries regarding your online account please have the client contact the e-banking team e-bank@warka-bank-iq.com and we will provide our full cooperation and support.


E-banking Department
Warka Bank for Investment and Finance

From: Mohammad K. Issa
Sent: Sunday, February 01, 2015 10:42 AM
To: laith alamir
Subject: FW: Bank Account Info.........

oldskiier
02-23-2015, 11:09 PM
You and me both !!! I have requested at least 5 times...information regarding the Banks position !! Nothing Back :(

Brazileiro
02-24-2015, 12:00 AM
You and me both !!! I have requested at least 5 times...information regarding the Banks position !! Nothing Back :(


Yes, I think that while they have been under CBI control, Warka has been instructed to severely limit its banking operations. The CBI mentioned this same thing about Basrah bank before it went under CBI control. I don't think all is lost yet. I'd sure like to get in contact with Mr. Issa though, and see what he thinks.

the only thing warka bank will say, well at least all they have ever said to me, is that the CBI have not released them from guardianship yet.

I have been emailing the CBI for info or current status of the guardianship of warka and have not had any response,,,as of today 152 emails sent to the CBI with zero response...

Will-it-happen?
02-24-2015, 12:25 AM
the only thing warka bank will say, well at least all they have ever said to me, is that the CBI have not released them from guardianship yet.

I have been emailing the CBI for info or current status of the guardianship of warka and have not had any response,,,as of today 152 emails sent to the CBI with zero response...

Warka will return with a vengence

(It takes a lot to keep the online banking working , remember they got 100+ branches in Iraq too)

millionairetobe71
02-24-2015, 05:54 AM
I've given up on Warka. Hate to admit it but looking at everything concerning Warka, Iraq politics, Iraq war, and absolutely no FDIC for Banking industry. I invested foolishly in this venture. Should have known better but I did it anyway. If one remembers history, you only have to look at our own banking back in the 1800's. Banks would just fold up and disappear with citizens having no recourse except to find the bank crooks and shoot them. But unfortunately we can't get back into Iraq to find the swindlers who stole our money. The stock market has also taken a bust in Iraq. I've spent too much time chasing this investment. Seriously they have not updated the website in 5 years. And when some kid sitting at an internet café in Jordan posts a new message to Warka's site his spelling is poor at best.

You have three choices here my friend....

1- Wait and ride out the storm

2- Don't wait and bail out...raise your white flag and be gone quicker than a monkey fart in a windy day after eating three burritos in salsa verde

3- Help out a brother here and provide me with your Warka account information and I will take good care of your money while you are gone goner

So, which one would you choose.....(I hope option 3)

MTB71

oldskiier
02-24-2015, 06:14 AM
Warka will return with a vengence

(It takes a lot to keep the online banking working , remember they got 100+ branches in Iraq too)


I know they had a lot of branches... BUT with all of our money froze.... what kind of business are they doing .... no ISX trades either.. ???? .. is just our foreign accounts Froze..????

ChinaGirl
02-24-2015, 02:04 PM
I know they had a lot of branches... BUT with all of our money froze.... what kind of business are they doing .... no ISX trades either.. ???? .. is just our foreign accounts Froze..????

Here's the latest from FB.... may have been posted here already - sounds like a local with a Warka account

https://fbcdn-profile-a.akamaihd.net/hprofile-ak-xpf1/v/t1.0-1/c48.12.145.145/s50x50/300827_125805170856921_1896773416_n.jpg?oh=c5eac09 8e1860034d0c7cb67e86d603b&oe=557C5CCD&__gda__=1434978229_663145f0b681108a041141de4cae235 c (https://www.facebook.com/pages/Iraqs-Warka-Bank-Victims/125804980856940)
Iraq's Warka Bank Victims (https://www.facebook.com/pages/Iraqs-Warka-Bank-Victims/125804980856940?fref=nf)
January 12 ˇ




It has been a while since my last post so a posting is due now. I have not heard any news to report other than that the branch of Warka that I opened my account at is still open, maned by mostly guards and may be one or two employees. That branch is in Sulaymani-Kurdistan Iraq. Beside that, I say if ICB (Iraq central bank) is flush with money and the country is doing well we may have better hope for a resolution. However, Oil which funds about 95% or so of the country's bud...get is now priced at 50% below what the Iraqi government has based its budget on, and any funds that becomes available will go to defending Iraq against ISIS attacks. I may be a pessimist but this is the reality. I still believe that the best and only way to have any hope to get our money is by legal means initiated in the US. I hope some of you have some leads into that approach. Iraq is using US courts system to go after protecting its interest, they are parties in many cases pending today. All these cases relate to Iraq's revenue just as ours is. Good luck to us and please participate and be active because no one is going to do it for you but yourself.

Kickabuck
02-24-2015, 02:46 PM
Yes, I posted it 1 page back on this 3 page thread :)

dinar_dude
02-24-2015, 03:12 PM
You and me both !!! I have requested at least 5 times...information regarding the Banks position !! Nothing Back :(

Another indicator that I think is telling is the bank's interest reports for accounts - the money in our accounts are still accumulating interest, it's just that the bank has been forced to cease its operations (per the CBI) and is prevented from transferring funds, or is very limited in performing any banking operations at this point. Sounds like the funds are frozen, but they are still accumulating interest.

HumbleGenius
02-25-2015, 10:35 AM
Another indicator that I think is telling is the bank's interest reports for accounts - the money in our accounts are still accumulating interest, it's just that the bank has been forced to cease its operations (per the CBI) and is prevented from transferring funds, or is very limited in performing any banking operations at this point. Sounds like the funds are frozen, but they are still accumulating interest.

Please provide a link or evidence the CBI has forced Warka to cease its operations. IMHGO Warka does not have the funds to operate. It has nothing to do with the CBI. And posting virtual interest to an account is a far cry from evidence of a banks viability. The Madoff investors were receiving tremendous virtual gains on their statements. The reality was the money was not there however. Just keeping our feet on the ground here. Not saying we should give up. Just saying there has not been a single positive move in the last two years to make one believe Warka will come back at this point. Evidence to the contrary would be greatly appreciated.

dinar_dude
02-25-2015, 11:43 AM
Please provide a link or evidence the CBI has forced Warka to cease its operations. IMHGO Warka does not have the funds to operate. It has nothing to do with the CBI. And posting virtual interest to an account is a far cry from evidence of a banks viability. The Madoff investors were receiving tremendous virtual gains on their statements. The reality was the money was not there however. Just keeping our feet on the ground here. Not saying we should give up. Just saying there has not been a single positive move in the last two years to make one believe Warka will come back at this point. Evidence to the contrary would be greatly appreciated.


Since Warka went under the same guardianship, that infers their banking operations have been ceased, according to article 69, whatever that is.

Central Bank warns citizens to deal with Basra International Bank instruments
Central Bank warns citizens to deal with Basra International Bank instruments (http://burathanews.com/news/238979.html)

http://burathanews.com/uploads/image/article/388-0/2014-Jun-11-539833521caaa.jpg
Central Bank warns citizens to deal with Basra International Bank instruments

June 11, 2014 1: 45 pm
Number of readers: 49

The CBI, warned Wednesday, citizens of Basra International Bank and investment, noting that the Bank has stopped all its banking practice.

The Bank said in a statement that "the citizens not to accept any instrument issued by Basrah International Bank for investment and to stop the practice of banking".

The Bank said that the Bank had been placed under trusteeship forced based on the decision of the Central Bank of Iraq 1485 in June 2012 in accordance with article 69 of the Banking Act 2004."

The Central Bank announced on June 6, imposing a Trusteeship on the economy Bank for finance and investment, adding that a guardianship committees consisting of three persons and an 18-month extension to prepare a report on the financial situation and future prospects of the Bank.

dinar_dude
02-25-2015, 03:30 PM
http://www.idlo.org/MF/Documents/Regulations/IRAQ3.pdf

HumbleGenius
02-25-2015, 05:48 PM
Thanks dinar_dude. Would like to see similar post re Warka but I can live with the theory. Not much else I can do LOL. Good luck.

calstar
02-25-2015, 11:30 PM
Since Warka went under the same guardianship, that infers their banking operations have been ceased, according to article 69, whatever that is.

Central Bank warns citizens to deal with Basra International Bank instruments
Central Bank warns citizens to deal with Basra International Bank instruments (http://burathanews.com/news/238979.html)

http://burathanews.com/uploads/image/article/388-0/2014-Jun-11-539833521caaa.jpg
Central Bank warns citizens to deal with Basra International Bank instruments

June 11, 2014 1: 45 pm
Number of readers: 49

The CBI, warned Wednesday, citizens of Basra International Bank and investment, noting that the Bank has stopped all its banking practice.

The Bank said in a statement that "the citizens not to accept any instrument issued by Basrah International Bank for investment and to stop the practice of banking".

The Bank said that the Bank had been placed under trusteeship forced based on the decision of the Central Bank of Iraq 1485 in June 2012 in accordance with article 69 of the Banking Act 2004."

The Central Bank announced on June 6, imposing a Trusteeship on the economy Bank for finance and investment, adding that a guardianship committees consisting of three persons and an 18-month extension to prepare a report on the financial situation and future prospects of the Bank.


Well there goes my stock certificate with Basra. :rolleyes:

HumbleGenius
02-26-2015, 10:47 AM
Well there goes my stock certificate with Basra. :rolleyes:
Basrah in theory went under way before Warka. The interesting part is that the ISX still lists Basrah as a stock (albeit not trading) on the exchange while it has completely removed Warka. (And I mean trading info, not outdated admin stuff like address' and so forth.)