Confused with Warka & ISX

[i3rain]

Hey im new to ISX and am still a little confused about what i read to get started. From what i read on these forums to open up and warka account i need $300k NID, and $150 USD? Although on the form it said atleast $500 USD?

Now to a ISX account i need atleast $2,200,000 NID total and they will be spread out to the x amount they listed for each company? Also i understand i need to purchase atleast 50,000 shares per company but I don't have an option of where i would rather invest in?

Sorry for the questions, theres just so much different information for the same subject on this site that i would rather go to the source(the ones actually investing in ISX) so i can do this with confidence instead of confusion.

[dinar@8]

I believe the US$500 is roughly what you need to send as a minimum so that after deducting the charges for transferring funds, exchange etc you should have enough left to keep the minimum balance of US$150 in your Warka Bank US$ Account and the balance can go into your IQD Account and should be enough to fund the minimum IQD holding of IQD300,000. It is not an exact science of course with rates changing almost daily but they are saying US$500 should accomplish the above. If you decide that you want to invest in the ISX then you would need to fund further to the amount of your purchases plus costs. The minimum to my knowledge should you choose to proceed and based on my past experiences is that you must place an order for no less than 100,000 (it used to be 50,000) shares in at least one company. Obviously the amount of extra funds required therefore depends on how many companies you wish to purchase shares in and what their offer price is on the day you buy. Hope this helps some.

[i3rain]

alright, thank you for clearing it up for me! now another option comes because of the rumor about chase bank being connected to warka. so would it just be easier to access it through chase back to warka?

[dinar@8]

I am UK based so sorry but I can't help you on that one as I am not aware of any involvement of Chase directly with Warka.