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  1. #1
    Supporter and Investor! thebest's Avatar
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    WARKA Iraqi civil banks refrain from delivery and customer deposits

    Iraqi civil banks refrain from delivery and customer deposits

    Mustafa al-Obeidi
    March 24, 2015

    BAGHDAD - «Quds Al-Arabi» intervention of the Central Bank of Iraq and the Finance Committee in Parliament to resolve the problem of the reluctance of some private banks to hand over their customers and financial deposits.
    After news leaked about the reluctance of some private banks to give deposits to its customers, the CBI tried to play dealers concerns with private banks The concern of non-payment of «deposits» owed ​​by those banks, stressing that he can ensure that money through the «legal reserve» available at each bank.
    The Iraqi Central Bank announced a series of actions may enhance liquidity, which is one of the causes of the problem. The director of the release and cabinets in the Iraqi Central Bank, Ihsan Yasiri, that «there are several complaints against some private banks lagging in their work, such as Bank of the economy actually under the tutelage of the Central Bank, and the Warka who raised him guardianship, and the North Bank.
    He said that the main problem is concentrated in the availability of cash, and tried to reassure depositors that «CBI sponsor re their money through legal reserve which each bank, which is launched in Crisis».
    The Finance Committee of the House of Representatives has announced that it filed a complaint to the Ministry of Finance against some banks that suffer Problems administrative caused not give deposits to its clients, and revealed that she put in the budget of 2015 article calling for the enactment of laws to guarantee deposits.
    The parliamentary finance committee accused the director of the Commercial Bank of Iraq, Hamdiya dry, lend to the central bank in the Kurdistan Regional Government an amount of two and a half billion dollars by several months without any warranties. Statements as rumors about her escape to Russia after the emergence of many irregularities in the bank's business.
    Dr. Hamid Abbas teaching, a professor at the Faculty of Economic Sciences of the reporter Quds Al-Arabi that «private banks controlled by the CBI, which provides a monthly budget to the Central. Central has taken measures to curb the faltering work of some banks, such as putting some under guardianship to protect its customers rights, as happened with the banking economy and Warka ».
    He explained Abbas, said that the work of private banks in Iraq, where a lot of gaps, including the lack of a clear law to protect the Customer deposits with banks , as is the case in most countries of the world. Also, some powerful political forces in the government set up a special banks for money laundering and transfers of hard currency abroad is haunted by a lot of suspicions. He said these things is one of the reasons for the lack of liquidity in some banks and thus the inability to repay deposits to customers.
    Dr. Abbas to other reasons for the lack of liquidity in some banks, including the delay in approving the budget, and delayed payment of the ministries that the debt to domestic banks Exchange, in addition to the banks Btzlev civil government large sums of money to cover the deficit has to pay employees' salaries.
    He also noted that the displaced crisis also affected the liquidity through the displaced to withdraw their savings in the banks to meet the conditions of displacement.
    Mustafa al-Obeidi

    http://www.alquds.co.uk/?p=315832
    Al-Warka Bank Mr. Saad al-Bunnia We are giving you a chance to make good profits because once the country has returned to normal and foreigners can buy shares, believe me, nobody will be able to grab a handful of shares.
    THEBEST Remember if CG acted like vultures. No matter that appear to try to help us. They’re vultures.

  2. #2
    Supporter and Investor! oldskiier's Avatar
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    "stressing that he can ensure that money through the «legal reserve» available at each bank."

    Are they saying we will get our money.,....???

  3. #3
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    Quote Originally Posted by oldskiier View Post
    "stressing that he can ensure that money through the «legal reserve» available at each bank."

    Are they saying we will get our money.,....???
    yes,,,but "when" is another question...

  4. #4
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    Must be by April , surely !!!

    https://www.youtube.com/watch?v=0A5t5_O8hdA

  5. #5
    Supporter and Investor! thebest's Avatar
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    Quote Originally Posted by oldskiier View Post
    "stressing that he can ensure that money through the «legal reserve» available at each bank."

    Are they saying we will get our money.,....???
    Yeah! But remember, that news was leaking and I suppose that we didn't know the news, and I think that one day we wake up and we will receive the information that everything was already done! I'm sure there are much information that even we don't known.
    Al-Warka Bank Mr. Saad al-Bunnia We are giving you a chance to make good profits because once the country has returned to normal and foreigners can buy shares, believe me, nobody will be able to grab a handful of shares.
    THEBEST Remember if CG acted like vultures. No matter that appear to try to help us. They’re vultures.

  6. #6
    Supporter and Investor! Mo Dinar's Avatar
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    Sunn, very Sunn!

    Quote Originally Posted by Brazileiro View Post
    yes,,,but "when" is another question...

  7. #7
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    Quote Originally Posted by Mo Dinar View Post
    Sunn, very Sunn!
    Agree due to the main increase in the amount of
    shares that been selling in the ISX especially the
    banks.Now,I would like to ask what is the relationship
    between the index and the share valued?
    ThNks

  8. #8
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    I would like to know the expected share price when every things in good shape or after 5 years....

  9. #9
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    Lets hope we DONT have to wait another 5 years !!!!!

  10. #10
    Supporter and Investor! haggisbasher's Avatar
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    My Gut feeling the now is telling me to expect a announcement from Warka Bank from CBI,MOF,ISC and or Al-Warka Bank given a swift return to trading & assets unfrozen maybe damages paid is very close, Confidence is High.
    Awaiting the announcement of the 3 new economic laws very soon that will release billions of $$$ into private banks to kick start the economy.
    Last edited by haggisbasher; 03-28-2015 at 08:09 AM.

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