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  1. #1
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    Warka either Central (filter) or (rehabilitation) and granted 10 days to deposit

    Warka either Central (filter) or (rehabilitation) and was granted 10 days to deposit 200 billion dinars

    Posted on Wednesday, 19 December 2012 18: 00 | Posted by: mg-ar/b | | | Visits: 102



    Baghdad/Obelisk:
    Warka Bank Central Bank gave 10 days to comply with decisions to deposit $ 200 billion Iraqi dinars and not harm the interests of its interlocutors.

    A statement issued by the Bank and got a copy of the Obelisk "I've encountered Warka Bank for investment and finance several problems and committed his many errors which called for Central Bank of Iraq to impose Trusteeship and start new filtering and already has offered major shareholders in the Bank several proposals for rehabilitation".

    The statement noted that "the Board of the Central Bank examined two options to address the situation of Warka Bank I go to (filter) and stress (rehabilitation) in the shadow of strong concern to the interests of depositors and their rights and noted that the Bank was liquidated their rights."

    "To keep the Bank in this case is incompatible with the directives of the Central Bank to build a strong Iraqi bank and trust" "past and the Council decided to issue an ultimatum to the Warka Bank until 31/12/2012 to pay agreed to deposit $ 200 billion dinars, and reversed the Central Bank takes actions necessary to filter".

    The Iraqi Central Bank, (5 March 2012) a Warka Bank under guardianship following failed talks with British Bank Standard Chartered, which began in April 2011 to buy it after suffering financial crisis had placed under guardianship.

    For the Warka Bank for investment and finance, which was established in 1999, 130 branches and 350 ATMs throughout Iraq.

    Iraq reportedly has seven state-owned banks and private banks, eight Islamic banks, according to a Central Bank, as the banking sector is dominated by the Rafidain and Rashid banks and Government are currently restructuring in order to repay debt accumulated after years of war and sanctions.


  2. #2
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    That would be ~$.17 billion or $170 million . Doubt they will be able to swing that much. Anyway Warka investors will have their answer shortly.
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  3. #3
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    Really hope they can make this payment, and get moving forward. Also, would be great to have this completed for us investors.
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  4. #4
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    They didn't give much time to fork up $170 million. Seems like they don't want Warka Bank staying in business.
    " Never forget everything Hitler did in Germany was legal " ---Martin Luther King jr.---

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