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  1. #1
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    news from warka bank re wire transfers

    latest news I got today from Mr I is that the Warka and other private banks in Iraq only have corresponding banks in the middle east, ie Jordan, UAE, Lebanon, Turkey, and they will not make 3rd party payments. The CBI is aware of this problem and everyone is working to resolve it.

    So no wire transfers available,,,
    Last edited by Brazileiro; 03-11-2018 at 01:56 PM.

  2. #2
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    SO Warka are allowing transfers in and out of their bank ? (albiet temp stopped)

    can you post your conversation with Mr I here please ?
    Last edited by Will-it-happen?; 03-11-2018 at 04:19 PM.

  3. #3
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    I've been trying to get Warka to transfer money to Al Karmal Brokerage, maybe I'll ask them to mail a certified check (across the street).

  4. #4
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    Quote Originally Posted by Will-it-happen? View Post
    SO Warka are allowing transfers in and out of their bank ?

    can you post your conversation with Mr I here please ?
    wire transfers are not available,,here is the part of the email pertaining to Mr I's response about wire transfers...and the KYC,,,I haven't received the english version yet

    Dear Sir,

    With regards to your request in transferring your funds to the USA please note that Warka Bank does not have a corresponding bank that will transfer funds to the USA and this a general issue faced by the entire private banking sector. The entire private banking sectors corresponding banks are limited in the Middle East (Jordan, UAE and Lebanon) as well as Turkey all of whom according to the internal regulations will not execute third party payments. All the private banks in Iraq can not execute third payments where this issue has been brought to the attention of the CBI where we are all working together to resolve this matter.

    With regards to the KYC this is mandatory which all banks in Iraq must comply with whereby the CBI strongly demands and insists that all cliental fill out this form. An English version is currently being updated and will be shortly provided by our account management department.


    Respectfully,

    Mohammad K. Issa
    Managing Director
    Senior Executive
    Warka Bank for Investment and Finance

  5. #5
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    Quote Originally Posted by James View Post
    I've been trying to get Warka to transfer money to Al Karmal Brokerage, maybe I'll ask them to mail a certified check (across the street).
    I specifically asked about transfering my money to Al Karmal and was told by Mr I that Warka can't transfer it to Al Karmal.

    Are you dealing with another bank yet in Iraq or just Karmal Brokerage? I'm going to try and email a couple banks and see what they say

  6. #6
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    Well since everyone is trying. I check with Credit Bank of Iraq they are right down the street too.

  7. #7
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    Quote Originally Posted by calstar View Post
    Well since everyone is trying. I check with Credit Bank of Iraq they are right down the street too.
    Interesting, hadn't heard of them before. Can't find a list of any corresponding banks on their website. Going ot email them in the morning and see what they say.

    Anyone know anything about them?

  8. #8
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    Just Al Karmal. I would like to transfer all my Warka funds to Al Karmal and be done with Warka. I was joking of getting them to write a check but it would be nice since they are in the same city. Maybe Precious Jackson could help me.

  9. #9
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    Quote Originally Posted by James View Post
    Just Al Karmal. I would like to transfer all my Warka funds to Al Karmal and be done with Warka. I was joking of getting them to write a check but it would be nice since they are in the same city. Maybe Precious Jackson could help me.
    Al Karmal was the only name I could think of when I asked the question lol.

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