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Thread: Withdrawing via atm?

  1. #1
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    Withdrawing via atm?

    Hi guys

    Long time no post. Lttle concerned not heard back from Warka for a week now with instructions for a new 3 month cd.

    Also is anyone still withdrawing via the atm using their Mastercard in the US or UK?

    Thinking soon of taking the money out, best way of doing it via a wire transfer I guess?

    Thanks in advance. Hope all is well with everyone.

    http://www.tradingfootball.eu/


    Iraq also wants a relationship between the foreign exchange market and the Iraqi dinar.

  2. #2
    Supporter and Investor! calstar's Avatar
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    Hi Adster still waiting for the outcome of Warka from the CBI. Take Care!!!

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    Adster.... your not taking anything out of Warka .... all funds in accounts are frozen ..... and ATM cards havent worked in years !!! Warka has Major Cash Problems... and CBI has gardinship over them right now...

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    there are no wire transfers OUT of warka until the guardianship thing is settled,,,you can renew/buy cd's though,,,

  5. #5
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    Thanks fellas, calstar, good to see you. So are atm withdrawlas ok, anyone managing to do it?

    Still no word, three emails to Rowaida and Mr I. Little concerned.

    http://www.tradingfootball.eu/


    Iraq also wants a relationship between the foreign exchange market and the Iraqi dinar.

  6. #6
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    Warka are skint, brassic, completely without funding or liquidity. If they were a horse they would have been shot 18 months ago. The Mastercards have basically never worked apart from an extremely short period of time after their introduction. When the cards stopped working, Warka lied about the Mastercard system being upgraded. They also lied about the online e-remittance function going through upgrade too.

    Communications with the bank are almost non-existent and if you are lucky enough to get any sort of response, it will be a standard copy / paste one or two liner. The CBI have stepped in and have forced an audit via KPMG. Warka have now been given an ultimatum to stump up a couple of hundred million dollars to restore liquidity or face having their assets sold off.

    We all took a chance with Warka as far as the ISX goes for the opportunity of potentially large gains, we were under no illusions that this was a risk.....

    I do find it quite odd that a non US resident would view an Iraqi CD as a viable investment vehicle, given the complication that the GBP floats against the dinar or to be more exact the US$ that the dinar is pegged to. Even if you are willing to put aside the generic risk of being invested in Iraq, you are at the mercy of the USD exchange rate. With the GBP becoming generally stronger against the USD over the past 3-4 years, any gains on CD's could have been largely wiped out by the exchange rate differencial. Dependent on what your pound bought in dollar terms when you invested, the value in GBP terms of your CD may well be less than you originally invested................ That is or course if Warka ever actually get out of the mess that they are in.

  7. #7
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    Is'nt it funny how we have heard all types of bad stuff about Warka for years now?...Piles of negativity from the articles, news and updates!...and they are still there!...We have even heard that they are owned by one of the wealthiest individuals in the entire Middle East...kind of like the George Soros of the East...and we have also heard that Warka did the payment processing for the U.S. Troops and providing other banking services for the U.S. over the years....and then we see where they were the predominent one who handled purchases of stocks in the ISX, even back when you had to do it by proxy, when the U.S. State Dept. had to approve of it...and they did'...and as far as I know they still do'...and then they had some type of tie-in or merger or something that affiliated them with Citi-Bank...this was even on their website for quite some time...and may still be?.....So, no matter what is true or not, IMO...I think much of it is a smokescreen to deter speculation possibly...but who knows...but I do know...even after what we have heard recently...they still exist and are operating!...I guess we will see what happens next with them just like the dinar?....For what it's worth....

  8. #8
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    On another note, everything, for the most part, is an illusion or dream..including the usd, euro, etc...at least right now...especially at the rate things are happening....as a rate can fall or rise...or inflation can eat up everything as well....the risks we take on anything are just that..risks'..period!....what will happen tomorrow is anybody's guess, so some take alternative or speculative diversified strategies and risks..just in case?...who knows...life is a gamble to a degree!...lol...

  9. #9
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    Oh, and this is interesting as well, does anyone remember back on Dec. 1, 2008, when Citi & Chase Banks put out a notice that they were going to quit dealing in Dinars as of Dec. 15th, 2008, and then appx. 2 weeks later, on Jan. 1, 2009, Citi & Chase showed up in Baghdad, to set up Iraqs Banking Infrastucture...at least this is from all of the articles we saw back then..and it was said that Bank of America was providing or distributing the Dinars to Citi & Chase Banks, and I think BOA was even dealing in them as well originally, or at one time?...anyway...how odd?...What is really going on?...I guess we will see?....

  10. #10
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    And one last thing, if any are worried about the Dinar or any Iraqi investments, there are plenty of other issues to worry about, as per where one can lose their money...just ask any of those who have lost everything in: Bear Stearns, Leahman Brothers, Worldcom & Enron...not to mention many, many other supposedly safe, sound, solid and bulletproof investments, or so they were told!...As per this venture, sure anything could happen, but as per the finality of it all, it is'nt over yet, and some have already had long-term gains already!..So why fret it until "Game-Over"?....

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