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Thread: Client share purchase in english - from warka website

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  1. #1
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    Client share purchase in english - from warka website

    Warka has posted the client share purchase info in english on their website - http://www.warka-bank.com/?0d64a1934dcafd4bf6a2baf7b165

    To our esteemed and distinguished Warka clients,

    Warka Bank for Investment and Finance is delighted to inform its fine clients that the distinguished Central Bank of Iraq has approved that our clients participate in the upcoming capital increase. Warka clients are now permitted to purchase Warka stock from the funds depoisted in their bank accounts participating in the capital increase in accordance with clause 56 no. 4 of the Iraqi Company Registration Law the adjusted law no. 21 for the year 1997 . There are no limitations to the amount of shares purchased where Warka clients are permitted to use their entire deposits to purchase Warka Stock participating in the Capital increase.

    Warka clients are kindly requested to submit a signed authorization letter authorizing our bank to withdraw funds from their account to purchase the stock indicating your account number, signature, the funds in IQD to be withdrawn from your account as well as a clear colored copy of your id and passport.

    The Warka stock will be purchased at a value of 1 IQD per Warka share and will be registered in the clients 's good name in the ISX depository system where the stock will re-trade regularly back in the Iraqi Stock Market once the general assembly hearing and capital increase procedures have been completed.

    Warka clients wishing to participate in the capital increase are kindly requested to send their authorization letter with the full details indicated above to our brokerage office 3044@warka-bank-iq.com within two weeks from posting this notice.

    Wishing all our Warka clients prosperity and growth true success and much fortune

    Respectfully,

    Warka Bank for Investment and Finance



  2. #2
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    Latest info via email from Mr I,,, currently 105 billion IQD in capital, raising to 250 billion IQD, so 145 biliion to be raised from latest shares offer,,,

    no mention of a date for the General Assembly hearing

  3. #3
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    Thanks for that update.

  4. #4
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    http://www.baghdadnews.info/index.ph...ticle&id=34041

    Central Bank approves the participation of depositors in Warka Bank by contributing to the process of subscription and reason !!

    Baghdad News -

    The Central Bank of Iraq approved the participation of customers from depositors who have bank accounts in all branches to participate in the subscription of the shares of the bank amounts available in their accounts in whole or in part to increase the capital of the bank (Article 56 paragraph IV of the Companies Law Amended No. 21 of 1997).

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

    The bank said, according to the statement, wishing to do so to review the management of the bank within the period of 15 days from the date of this announcement, accompanied by the supporting documents.

  5. #5
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    Nice! The news is spreading Thanks James!

    I'm still contemplating buying in with 1/3 of my account. Any others interested?

  6. #6
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    I wrote a letter today asking for "several" million shares... I am hoping they will also issue free shares to their "loyal" customers at some point. Looking at the banks currently trading none of them are over $1 .

    I justify these extra shares hoping as most of us do that the ISX x RV = $$$
    IT'S HAS BEEN WAITING GAME GOING ON 13 YEARS....

    I transferred all my other shares to Al Karmal 5 months ago. When Warka goes back on the ISX I will get them to transfer those as well. When it comes time to sell stock I can either get Al Karmal to wire funds to me or deposit them back into Warka for CD's or to fund a MasterCard.

    We knew what we were getting into other wise we wouldn't be on this site talking about it. Best of luck to everyone who has stayed the course.
    Last edited by James; 03-19-2018 at 02:03 AM. Reason: spelling

  7. #7
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    Looks like we've come full circle from the 150% paid ups offered just before being placed under guardianship. I felt foolish buying into the 150% paid up while the owner of the bank sat on the sidelines. Maybe Bunnia will contribute this time. I'll throw my savings account into the paid up shares...after all, I considered them lost already. Fool me once shame on Bunnia, fool me twice, shame on me. I'm a sucker for high risk adventures...after all, there will only be a few shares available SOON

  8. #8
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    Kickabuck - do you have a copy of the "authorization form" or is it just a text document a person writes themselves?

  9. #9
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    I wrote the standard letter authorizing them to purchase shares from my account. It has my sig, $ to be deducted, and my account #. I included a scan of my passport & DL.

  10. #10
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    Ok thanks!

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