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Thread: Client share purchase in english - from warka website

  1. #41
    Supporter and Investor! oldskiier's Avatar
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    http://kitabat.info/subject.php?id=117283

    Central Bank and restore the life of insolvent banks
    Bassel Abbas Khudair
    Warka Bank for Investment and Finance was established in 1999, and when it was established, its objectives were designed to contribute effectively in supporting the economic development of the country in accordance with the provisions of the law of the Central Bank of Iraq and its instructions and the law of companies and other applicable laws. The bank had 116 branches in Baghdad and governorates as well as specialized offices The bank had a great deal of dealing with all the different sectors including mixed, private and government departments, and the assets of the bank 6 It is worth mentioning that during the first years of its establishment, the bank was managed in an efficient manner by well-known banking and economic figures with a history associated with many successes in the field of specialization. At a time when some believed that the Warka Bank would be a competitor To the government banks inside Iraq or to be the level of performance of regional and international banks and reliable in the development of the desired development in the banking sector, the bank has witnessed a fall that is said to be a dramatic and unexpected fall and contrary to all opinions and indicators of development and the increasing rise in The Bank of Warka is insolvent and unable to meet customers' withdrawals and does not receive their deposits or provide banking services and facilities to them under the pretext that it suffers from a financial crisis to issue directives regarding the non-dealing of private banks with government banks regarding the opening letters of guarantee and granting of banking facilities, Over the past seven years, depositors have received only false promises because their money has not been returned to them, and all that has been distracted is the distribution of modest payments to the small depositors, and the public has been denied the reasons for the fact that the six In which money was returned to depositors whose money had been reduced due to the low purchasing power and high inflation rates in the prices of goods and services. Some would say that Warka is not the only bank that failed clients, as other private banks did the same with the public, , And we say that Warka was the focus of wishes to achieve leadership in the national banking and did not expect him to reach such setbacks to the detriment of others, so we dealt with this issue previously and invited the Central Bank of Iraq to address the issue, By liquidating or selling its assets, borrowing, merging or dividing criminals, or in any way that restores the rights without procrastination and prolonged waiting. Depositors are citizens and their funds must be protected by the authorities concerned under the laws. In case of failure to fulfill this legal right, And the Central Bank and the Central Bank as the latter is the guarantor of the banking system in Iraq, especially as the Committee of Wills and experts, local and international have recommended the need to support the bank through its financial solvency and return to life because he did not go bankrupt.

    http://kitabat.info/subject.php?id=117283


    Through the contacts and consultations between the Iraqi Central Bank and the Warka Bank and documented in the book of the Central Bank of Iraq 5358 on 8/3/2018, a set of solutions were reached which would restore the bank's life and guarantee the rights of depositors. These solutions include:


    . Increase the capital of the bank by 150 billion dinars by depositing the amount of 45 billion dinars to provide liquidity for the purpose of payment of dues of small depositors and rehabilitation of the bank to exercise all its activities.


    . To allow depositors of the Bank to use their deposits in whole or in part in the subscription process to increase the Bank's capital. Thus, the depositor becomes a shareholder of the Bank on a voluntary basis with the guarantee of the payment of shareholders' equity in nominal value (JD per share) and to enjoy all the legal benefits of the shareholders stipulated in the Companies Law No. 21 of 1997 Or any other relevant law.


    . To allow the Chairman of the Board of the current bank to run for a new period, an exception to the instructions for the purpose of taking advantage of his experience in the management of the bank at the current stage in order to return funds depositors and restore confidence in the bank by the public as the bank after the election of the Board of Directors to exercise its banking activities on a regular basis.


    . The bank has been approved to liquidate the bank's branch in Beirut to enhance the liquidity of Warka and to ensure that everyone will be liquidated by the liquidator as a party. Neutral.


    . Set a fixed period of not more than one month to convene the General Assembly and the selection of the Board of Directors to be increased capital of the bank to 250 billion dinars of the main axes of this meeting.


    While we appreciate these steps to address the Warka deposit problems for more than 7 years, we find that the return of Warka banking is a positive advantage of national banking when real seriousness is available to be a better bank than before, and we find it important to be The depositors have a role to play in this return by transferring part of their deposits to shares because they are better than the previous situation. The value of the stock increases with the performance of the bank. The shareholder has the right to be part of the administration. He is a member of the General Assembly. He has the right to nominate the Board of Directors. The stock will rise For the Iraq Stock Exchange and the owner can sell it at the price displayed at any time, and this keeps him away from the specter of exploitation and extortion, which is said to be currently practiced

  2. #42
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    Quote Originally Posted by Will-it-happen? View Post
    I trust they will allow any amount to be purchased ????
    according to the news releases you can use any amount in your account up to 100% of it.

    I believe they'll raise enough to hit the 250B IQD mark.

  3. #43
    Supporter and Investor! haggisbasher's Avatar
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    Warka has published more info for their customers on Facebook account, going to ask about CD's

  4. #44
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    Dear customers: if there is any query please contact the following email and phone:

    Email : ccu@warka-bank-iq.com
    Phone : 00964 770 588 3333

    We are also enclosing the pages of the bank in other social networking sites:
    Twitter:
    https://twitter.com/WIBBANK

    Instagram:
    https://www.instagram.com/warkabank/

    Soft:
    https://www.linkedin.com/company/war...t-and-finance/

    Happy to communicate with you always......

  5. #45
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    I have been trying to log into warka online banking and getting " YOUR CONNECTION IS NOT PRIVATE " can anyone help on how to go about it, thanks

  6. #46
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    Quote Originally Posted by haggisbasher View Post
    Warka has published more info for their customers on Facebook account, going to ask about CD's
    CD's are supposed to be available in June. They will post on the website when they are. See my post about CD's and Mastercard - http://www.investorsiraq.com/showthr...and-Mastercard

  7. #47
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    Quote Originally Posted by chakkarchee View Post
    I have been trying to log into warka online banking and getting " YOUR CONNECTION IS NOT PRIVATE " can anyone help on how to go about it, thanks
    the security certificate for the website is invalid. You need to creat an "exception" in your browser.

  8. #48
    Supporter and Investor! haggisbasher's Avatar
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    Am I correct in thinking that Friday 30th is the closing date of Warka's IPO and within another 15 days they should be having a AGM.????

  9. #49
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    Quote Originally Posted by haggisbasher View Post
    Am I correct in thinking that Friday 30th is the closing date of Warka's IPO and within another 15 days they should be having a AGM.????
    the translation in my post is slightly different in that it says "provided"...my article was from the same guy but a different website.

    "Set a fixed period not exceeding one month for the convening of the general meeting, provided that the capital increase of the bank to 250 billion dinars of the main axes of this meeting."

    I took that as meaning they have to have the meeting within 30 days of having 250B IQD in capital.

  10. #50
    Supporter and Investor! haggisbasher's Avatar
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    Hope so, i am waiting to see info on the AGM announced on the ISX news & with a major roll out Al Warka fanfare return to trading would help the whole ISX confidence and in trading .

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