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  1. #1
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    New post on Warka website - not 100% sure of meaning

    Just saw this posted on Warka website - http://www.warka-bank.com/?0d64a1934dcafd4bf6a2baffb8

    Are they looking for clients to invest in Warka?

    english translation -



    To all the customers of Warka Bank for Investment and Finance "

    The management of Warka Bank for Investment and Finance is pleased to inform its customers that the Central Bank of Iraq has obtained the approval of the participation of customers from depositors who have bank accounts in all of our branches to contribute to the subscription of the shares of the bank in the amounts available in their accounts in whole or in part to increase the capital of the bank IV of the Companies Law Amended No. 21 of 1997).

    Note that the subscription mechanism is regulated by an instrument or authorization from the customer account deposited to the subscription account and the applicant will be a shareholder in the capital of the bank under the certificate of shares to be supplied to them which are negotiable in the Iraqi market for securities after the completion of procedures to increase the capital of the bank, The nominal value of the share is one dinar.

    Those wishing to do so must consult the bank's management within 15 days from the date of this declaration, and they will be accompanied by all the supporting documents.

    with respect

    Al Warka Investment & Finance Bank
    » Download
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  2. #2
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    ok yeah my take on a closer read is that Warka is asking clients if they want to buy shares in Warka to increase it's capital.

  3. #3
    Supporter and Investor! haggisbasher's Avatar
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    I,ve been checking the Warka news all day and missed this, looks like Warka are getting ready to go on line SOON. Great News.

    I must admit need to give this some time to think this after the absolute lack of information given to their customers over the years.
    Last edited by haggisbasher; 03-14-2018 at 06:01 PM.

  4. #4
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    hey HB, well cd's are supposed to be available in june and they're working at getting their Mastercard licence back so I guess we wait and see.

    If I remember right they need 250 billion iqd capital right? Anyone remember what price their shares were at before delisitng?

  5. #5
    Supporter and Investor! haggisbasher's Avatar
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    I think the share price went to a high of 3.75 iQD to a low of 1.80 IQD.

  6. #6
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    last price showing on ISX is low - 1.26 high 1.28 but that was on 7 Feb 2010 and they weren't actually delisted until 30 Oct 2011

  7. #7
    Supporter and Investor! haggisbasher's Avatar
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    Going to wait and see what news come out in the coming weeks about Warka before I even consider giving anything into warka,in fact considering closing my account down completely,
    I need to read reassurances about this whole come back thing.

  8. #8
    Supporter and Investor! thebest's Avatar
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    To me WARKA return. I already ask Issa was is the procedure. If anyobody asking about the demand for damages? I ask one time WARKA, never received a anserw. WARKA win the 2 cases against the CBI and the language in the court resolution was strong again the CBI and MOF. In my opinion WARKA will be strong and in part for the civil damages. So we have 50/50 like in the courts. Some peoples take the decision to closed the accounts other not. I will take the risk.
    This news maybe was in arabic maybe to the physical local branch. I dont but I wait for Issa anserw.
    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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    I think they are trying to hit the $250 billion iqd total that they needed to raise years ago when the CBI raised the amount of capital private banks needed to have. Would that get them relisted? Can they get relisted without reaching the required capital amount?

    one thing I am thinking is right now we have access to $0 of the money in our accounts. If people invested 1/3 of their balance in warka shares would it enable warka to get relisted and open again? People would have access to all the cash in their accounts and could then sell their shares whenever they wanted to. I just wonder if Bunnia will participate this time? Wasn't he going to deposit 50 million?

    Interested in reading other peope thoughts on this,,,

  10. #10
    Supporter and Investor! haggisbasher's Avatar
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    Warka Bank will not even answer me how many Warka shares I hold and they ask me to buy more, they are going to have to do better that if they want me to purchase more.

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