Results 1 to 6 of 6

Hybrid View

Previous Post Previous Post   Next Post Next Post
  1. #1
    Supporter and Investor!
    Join Date
    Jul 2007
    Posts
    71

    BIME Distribution

    Just received notification from Warka that my Middle East Bank shares were transfered to my name. Although I didn't get a confirmation that the most recent 25% distribution was credited to my account, the spreadsheet indicates the number of shares converted includes the distribution.
    Last edited by Makemony; 12-28-2012 at 10:09 AM.

  2. #2
    Supporter and Investor!
    Join Date
    Sep 2008
    Posts
    1,552

    Why does the ISX allow the Warka Brokerage to continue?

    BIME has declared a 10% cash dividend for 2012 and 2013 results. I wonder:
    1) if Warka even has anyone left to represent/accept the transactions on our behalf for the execution of them.
    2) will we even see it posted to our accounts.
    3) will they have the gaul to accept the funds knowing they will be redirected and the funds wont really be in our accounts.
    4) will the ISX shut down the 'Warka Brokerage' since it knowingly does business w a failed bank.

    So many more questions......
    ---------------------------------------------------------------
    "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"

  3. #3
    Supporter and Investor!
    Join Date
    Jun 2006
    Posts
    681
    Quote Originally Posted by HumbleGenius View Post
    BIME has declared a 10% cash dividend for 2012 and 2013 results. I wonder:
    1) if Warka even has anyone left to represent/accept the transactions on our behalf for the execution of them.
    2) will we even see it posted to our accounts.
    3) will they have the gaul to accept the funds knowing they will be redirected and the funds wont really be in our accounts.
    4) will the ISX shut down the 'Warka Brokerage' since it knowingly does business w a failed bank.

    So many more questions......

    I may be wrong, but I think Warka is more of a crippled bank than failed. Cripples can make astounding recoveries.
    [Still kicking]

  4. #4
    Supporter and Investor!
    Join Date
    Sep 2008
    Posts
    1,552

    Good way to say it.

    Quote Originally Posted by 40plus View Post
    I may be wrong, but I think Warka is more of a crippled bank than failed. Cripples can make astounding recoveries.
    Agreed. Sort of pisses me off the ISX is letting a broker (Warka brokerage which is supposedly a separated entity from the bank) to continue in business w out providing the services stated/required to maintain licensing as a broker on the exchange. However, I knew the risks going into this so it is what it is when dealing w a 4th world group of people.
    Last edited by HumbleGenius; 08-04-2014 at 12:26 PM.
    ---------------------------------------------------------------
    "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"

  5. #5
    Supporter and Investor!
    Join Date
    Apr 2008
    Location
    here
    Posts
    1,349
    remember that Warka brokerage uses Warka banking services

  6. #6
    Supporter and Investor!
    Join Date
    Sep 2008
    Posts
    1,552
    Quote Originally Posted by Will-it-happen? View Post
    remember that Warka brokerage uses Warka banking services
    Agreed, to maintain their licensing they should be making arrangements w another bank to do business and then notify their clients w the process to setup accounts w the new bank. Or they should be shut down by the ISX since they are not performing as required and stated in the rules for holding a ISX brokers license.
    Last edited by HumbleGenius; 08-04-2014 at 12:23 PM.
    ---------------------------------------------------------------
    "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"

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Powered byvBSocial.com and Block Facebook