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Thread: Not Good News.....

  1. #1
    Supporter and Investor! oldskiier's Avatar
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    Not Good News.....

    I just learned that Warka Bank's Branch in Sulaymani, the second largest city in Kurdistan (Iraq) now has pad locks on its doors. This is new to me because this branch was open up until few months ago. To get a better picture on this mater, I ask the friends of this page to report on the status of the branches they know, please. Banking liquidity in Iraq is entering yet agin a new round of dollar shortages/liquidity problems. Bank of the North, in Kurdistan is now rationing requests for withdrawal. This is probably a good thing for us because it may accelerate the need for resolving liquidity issues at all of Iraq's banks. That is if Iraq will stay alive for that to happen. The banking committee in the parliament keep calling on the ICB to revive the banking system but right now all resources are devoted to defending against ISIL. Lets pray that Iraq survives for everyone's sake.


    https://www.facebook.com/pages/Iraqs...856940?fref=nf

  2. #2
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    I wrote Warka off long ago. If anything comes from the ISX/Warka great, if not meh. I'm just glad I didn't invest 30k+ (only 5k to test the waters). Even if ISIL is destroyed, they set Iraq back decades and who knows how long it will take for the ISX/Warka to payout.
    MONEY NEVER SLEEP$

  3. #3
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    For what it's worth

    Quote Originally Posted by oldskiier View Post
    I just learned that Warka Bank's Branch in Sulaymani, the second largest city in Kurdistan (Iraq) now has pad locks on its doors. This is new to me because this branch was open up until few months ago. To get a better picture on this mater, I ask the friends of this page to report on the status of the branches they know, please. Banking liquidity in Iraq is entering yet agin a new round of dollar shortages/liquidity problems. Bank of the North, in Kurdistan is now rationing requests for withdrawal. This is probably a good thing for us because it may accelerate the need for resolving liquidity issues at all of Iraq's banks. That is if Iraq will stay alive for that to happen. The banking committee in the parliament keep calling on the ICB to revive the banking system but right now all resources are devoted to defending against ISIL. Lets pray that Iraq survives for everyone's sake.


    https://www.facebook.com/pages/Iraqs...856940?fref=nf
    People who know me know I have been a critic of Warka for a while. Not because I want them to fail but because the signs were obvious. With this news I am hoping they are just hunkering down until all the crap going on passes beyond their financial status which is questionable. Personally I believe Iraq as we knew it will not exist a year from now. Who knows what it will look like, what the financial system will be or the type of gov they will have is the wild card.
    ---------------------------------------------------------------
    "Sumerian News", that "the real value of the coin is the value of goods received by the individual and on the strength of the national economy"

  4. #4
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    Quote Originally Posted by oldskiier View Post
    I just learned that Warka Bank's Branch in Sulaymani, the second largest city in Kurdistan (Iraq) now has pad locks on its doors. This is new to me because this branch was open up until few months ago. To get a better picture on this mater, I ask the friends of this page to report on the status of the branches they know, please. Banking liquidity in Iraq is entering yet agin a new round of dollar shortages/liquidity problems. Bank of the North, in Kurdistan is now rationing requests for withdrawal. This is probably a good thing for us because it may accelerate the need for resolving liquidity issues at all of Iraq's banks. That is if Iraq will stay alive for that to happen. The banking committee in the parliament keep calling on the ICB to revive the banking system but right now all resources are devoted to defending against ISIL. Lets pray that Iraq survives for everyone's sake.


    https://www.facebook.com/pages/Iraqs...856940?fref=nf

    So this Warka branch closed few months ago , then last week they put on padlocks ?

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