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  1. #1
    Supporter and Investor! thebest's Avatar
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    Book of the Securities Commission on the request for shares of Warka Bank for Investm

    Book of the Securities Commission on the request for shares of Warka Bank for Investment inclusion 03-07-2017

    Screenshot (17).jpg

    http://www.isx-iq.net/isxportal/portal/storyDetails.html?storyId=4655&type=1
    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
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    Translation!?!?!
    I'm not giving up till i'm successful. Iraq is an investment that will make us millions however it might take time. Click here to Laugh Click here to get Scared Know any good stocks? PM me the Symbol. Genius STUDY MY LIFE IT WILL MAKE YOUR RICH>>HERE<<

  3. #3
    Supporter and Investor! haggisbasher's Avatar
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    Is this very good news to us Al-Warka account holders,i like the sound of this thebest,good find.

  4. #4
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    Book of the Securities Commission on the request for shares of Warka Bank for Investment inclusion 03-07-2017A

    Book of the Securities Commission on the request for shares of Warka Bank for Investment inclusi.jpg
    http://www.isx-iq.net/isxportal/file..._2_6_51_22.pdf
    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.

  5. #5
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    Translation is rough, hope someone can do better.

    My personal thoughts are in brackets ( )

    The short version is:

    Warka Bank's request to be relisted on the ISX was denied for the following reasons:

    1. The partners shares has to equal 100% of the paid capital of the bank, they have a deficit of -323 B ID. (not sure of exact meaning)
    2. The amount allocated for (uncertain debts) is not enough. (This is prob. related to the poor collateral mentioned a couple years ago)
    3. There are cases/claims against the bank involving large amounts of money. (pending civil cases???)
    4. Warka bank made no profits in the last 2 years, and reported a loss of 42.29 B ID in the years 2014 and 2015. (Unclear if that was the total for both years or the amount per year)
    Last edited by RogueTurtle; 03-07-2017 at 10:07 PM.

  6. #6
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    Quote Originally Posted by RogueTurtle View Post
    Translation is rough, hope someone can do better.

    My personal thoughts are in brackets ( )

    The short version is:

    Warka Bank's request to be relisted on the ISX was denied for the following reasons:

    1. The partners shares has to equal 100% of the paid capital of the bank, they have a deficit of -323 B ID. (not sure of exact meaning)
    2. The amount allocated for (uncertain debts) is not enough. (This is prob. related to the poor collateral mentioned a couple years ago)
    3. There are cases/claims against the bank involving large amounts of money. (pending civil cases???)
    4. Warka bank made no profits in the last 2 years, and reported a loss of 42.29 B ID in the years 2014 and 2015. (Unclear if that was the total for both years or the amount per year)
    Lets have some fun, response is order to the points above:

    1) Warka was about 95B IQD at the time of 150% paid ups were offered. Bunnai controlled the move and didn't fulfill his paid up shares. I.E created the deficit, but not 323B, just under half that.
    2) If the CBI released Warka from custody, what the hell are uncertain debts? Wouldn't the CBI know that before releasing them from custody?
    3) This is the Black Swan event. Who knows what Warka won via the CBI scandal, who knows what they owe. Legal cases go both ways.
    4) If that statement is true, why would the CBI ever release them from guardianship? There's something fishy in the air...

    There is an outlying factor...has anyone else noticed the Saudi olive branch delivered to Iraq. We're talking separate radical political parties uniting, very interesting times indeed.

  7. #7
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    Additional thoughts of things that were not in the letter.


    1. There was no further instructions to Warka, ie; instructions to respond within a certain amount of time or a request to fix the issues listed.

    2. There was no mention of the "Get Well Plan" that CBI is suppose to be providing to Warka as per the Civil litigation.

    3. Finally, over the last 12 months Warka has been participating in the daily auctions/short term loans to the CBI (5 Million/per trading day. This might of brought in up to 50m USD for the entire year...but that amount has yet to be disclosed and is an unknown factor at this point.
    Last edited by RogueTurtle; 03-07-2017 at 10:12 PM.

  8. #8
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    Quote Originally Posted by RogueTurtle View Post
    Additional thoughts of things that were not in the letter.


    1. There was no further instructions to Warka, ie; instructions to respond within a certain amount of time or a request to fix the issues listed.

    2. There was no mention of the "Get Well Plan" that CBI is suppose to be providing to Warka as per the Civil litigation.

    3. Finally, over the last 12 months Warka has been participating in the daily auctions/short term loans to the CBI (5 Million/per trading day. This might of brought in up to 50m USD for the entire year...but that amount has yet to be disclosed and is an unknown factor at this point.
    Is almost the same I have
    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.

  9. #9
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    http://www.newocr.com/

    It is not approved for the inclusion of the Warka Bank shares for investment so as not to meet the following conditions: -

    a. Article condition) the (Help cyclist number)? () Conditions and requirements of the inclusion of companies in the market
    Securities / Market regulars (which is that the minimum shareholders' equity in the company and when the application is presented
    YoY kes ((of the paid-up capital as shareholders' equity amounted to.? By
    Negative) ??? (Billion dinars.

    2. lack of provision for doubtful debt adequacy of debts and the presence of large amounts of claims on the bank.

    3. Article condition (e) of the instructions cyclist conditions and requirements of the inclusion of companies in the securities market /
    Regular market (where the bank did not achieve profit in the last two years, but was the result of his Hhsarh
    By ?? ,? } Datar billion during the years of}. ? And here,. ? Respectively .
    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.

  10. #10
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    The last time ISX reject WARKA for some lack of information. The CBI and ISX approved later WARKA return to the ISX and now the ISC need another requirement. So we have to wait to WARKA futfill this new requirement.
    Last edited by thebest; 03-07-2017 at 11:02 PM.
    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.

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