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Thread: Guys be honest, how long is this going to take.

  1. #1
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    Default Guys be honest, how long is this going to take.

    Guys, I am being totally real here. I need your real honest opinion. I've been trying to close my account and wire my funds for weeks. How long is this going to take?

    I honestly need a little help, if you think this is B.S. then contact me via private message and I will give you my phone number.

    What is the problem here?

    Have any of you tried to wire funds out of Warka in the past month. I have been having nothing but trouble. First I ask for instructions and C.Services doesn't respond, then they tell me I did it wrong, then they don't respond again, when I look back at the paper trail I started, This has been going on for 4 plus weeks.

    Have any of you HONESTLY wired money out of Warka?

  2. #2
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    Also.....

    Can someone please post the phone numbers or PM me with Warka phone numbers. At this point I just feel helpless. This is unbelievably frustrating. I mean I was patient the first two weeks but now I'm starting to get consumed by this.

  3. #3
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    There maybe a black out at this time.
    ******************************
    Iraq has 30 trillion dinars in circulation

  4. #4
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    Default

    Who would invest in something like Iraq and expect modern world technology? I'm betting that 99% of the investors here threw a few dollars at a long term proposition with the hopes of having a nice gain in 10 or more years. In 10 years, you'll either have internet access allowing transfer of funds, or you'll take a loss.

    The only problem is that this market is very unique...free & paid up shares annually require a strategy. The process becomes addicting, but the returns so far match what the NYSE has done in the last 3 months. There may never be an explosion...oops, bad choice of words.

  5. #5
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    Please do not respond if

    1. You are a troll
    2. You do not bank with Warka.

    For furthur clarification I am not in ISX only CDs, I do not have internet banking, just email and I also am no longer in a CD just a money market.

    What is the issue?

    Have any real clients of Warka had any issues like this?

  6. #6
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    Default

    I sent in an email to wire funds back last week. They still have not responded.

  7. #7
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    Quote Originally Posted by dinarii View Post
    Please do not respond if

    1. You are a troll
    2. You do not bank with Warka.

    For furthur clarification I am not in ISX only CDs, I do not have internet banking, just email and I also am no longer in a CD just a money market.

    What is the issue?

    Have any real clients of Warka had any issues like this?
    Why would you send your money overseas and not have online banking? It's like 10 bucks.

    Had you read posts by other members, or even bothered to monitor what is happening, you wouldn't be asking the questions you are. PM English Bob, he knows more than anybody.
    Last edited by Kickabuck; 02-19-2012 at 07:01 PM. Reason: added logic

  8. #8
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    Quote Originally Posted by dinarii View Post
    Also.....

    Can someone please post the phone numbers or PM me with Warka phone numbers. At this point I just feel helpless. This is unbelievably frustrating. I mean I was patient the first two weeks but now I'm starting to get consumed by this.
    It might take a while as I am sure you know that in order for Warka to transfer you dollars they have to buy them from the CBI just as they used any dollars you may have sent them to buy dinar from the CBI to fund your account. Also that you are aware that the CBI has restricted dollars sales from the CBI for a couple of weeks now and for at least one day refused to sell any. The CBI is trying to maintain a official rate of 1166 with the market rate exerting great pressure at 1240 dinar to $1. You might also have read that some in Parliament are calling for the CBI to stop selling dollars and only dinar for inside country use. In addition new CBI regulations are that banks cannot exchange dinars for dollars unless the customers have a bank account and that the use of these accounts is for legitimate use and the source of dinar or dollars can be documented. Also that in the case of crises the CBI would have to sell the limited amount of dollars for sale to Govt banks first and then to private banks as possible. That might make transferring any dollars from Warka or any other Iraq private bank slow until the pressure on the dinar is alleviated however you will probably be able to transfer your money as soon as the dinar is stabilized inside Iraq. You might even make a few dollars if a few pips are required for stabilization.

    However if you never sent them dollars and mailed them dinar from out of country and never had any dollars documented to your account I don't have any idea of what action the CBI or the Govt might take with Warka.

    It is not a question of your patience with Warka its a question of when the sale of dollars are going become liquid again in Iraq, if ever. Most countries dictate that their national currency be used in their country.

    One thing I am sure of is that, not Warka or any other bank is going to send you a email stating that your dollars cannot be transfered because the amount of dollars they can purchase is limited. They will simply delay and hope the crises passes. Nothing else they can do.
    Last edited by Screaming Eagle; 02-19-2012 at 07:07 PM.
    Get a free first class world education here. http://www.khanacademy.org/

    We are all born ignorant, but one must work hard to remain stupid. - by Franklin, Benjamin.

  9. #9
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    Quote Originally Posted by MarioKartWii View Post
    I sent in an email to wire funds back last week. They still have not responded.
    GEEZ...are you bailing out already, after a whole 4 months?

  10. #10
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    SE, you are quite eloquent in delivering your message, I tip my hat to you. You always make a lot of sense, it's just getting the readers to accept what you're saying. We're often on different sides of the track, but we're doing in the same direction.

  11. #11
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    Quote Originally Posted by Kickabuck View Post
    GEEZ...are you bailing out already, after a whole 4 months?
    No I never said i was bailing out. I just needs some extra cash. but I guess i should bail out if it goes down like you said "In 10 years, you'll either have internet access allowing transfer of funds, or you'll take a loss." hahahaha

  12. #12
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    Quote Originally Posted by Kickabuck View Post
    SE, you are quite eloquent in delivering your message, I tip my hat to you. You always make a lot of sense, it's just getting the readers to accept what you're saying. We're often on different sides of the track, but we're doing in the same direction.
    Its not my message I am not selling dinar at 1240, the Iraqi market is. I didn't stop or reduce the sale of dollars by the CBI the CBI did. Its a message being sent by the CBI that they will defend the stability of the dinar at any cost.
    Get a free first class world education here. http://www.khanacademy.org/

    We are all born ignorant, but one must work hard to remain stupid. - by Franklin, Benjamin.

  13. #13
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    Quote Originally Posted by MarioKartWii View Post
    No I never said i was bailing out. I just needs some extra cash. but I guess i should bail out if it goes down like you said "In 10 years, you'll either have internet access allowing transfer of funds, or you'll take a loss." hahahaha
    Hang in there, pulling out funds now is a BIG mistake. There's an 80 percent chance (kickabuck logic) of getting your money back X 5 in 10 years...I'm playing those cards.

  14. #14
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    Quote Originally Posted by Screaming Eagle View Post
    Its not my message I am not selling dinar at 1240, the Iraqi market is. I didn't stop or reduce the sale of dollars by the CBI the CBI did. Its a message being sent by the CBI that they will defend the stability of the dinar at any cost.
    Surely something brings you to this forum other than being a messenger of the news...just what is your affiliation?

  15. #15
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    Screaming Eagle

    Are you serious?

    You are going to try and tell me that an investment bank can't buy US dollars to satisfy a customer account?

    Are you kidding?

    Where did you get 1240? The CBI says 1166?

  16. #16
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    Quote Originally Posted by dinarii View Post
    Screaming Eagle

    Are you serious?

    You are going to try and tell me that an investment bank can't buy US dollars to satisfy a customer account?

    Are you kidding?

    Where did you get 1240? The CBI says 1166?
    I got the 1240 rate from the same place you got the CBI official 1166 rate, The CBI. Go to the CBI site, click on currency auction and you will see the CBI official rate. In the lower left corner you will see

    Exchange rates

    Dollar's exchange rates / in Baghdad markets

    Click on exchange rates and you will see the history of market rates. Review the market rates since Nov 2011 and veiw the instability of the market rates for yourself. The CBI posts both the official rate and the market rate.
    Get a free first class world education here. http://www.khanacademy.org/

    We are all born ignorant, but one must work hard to remain stupid. - by Franklin, Benjamin.

  17. #17
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    OK.

    So help me understand this. Warka uses the CBI rate. Correct?

    What is the market rate? Private money currency exchangers?

    You're saying even though Warka uses 1166, they can't get that because the central bank is no longer selling dollars?

  18. #18
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    Quote Originally Posted by Kickabuck View Post
    Surely something brings you to this forum other than being a messenger of the news...just what is your affiliation?
    I'm a secret spy for someone. Haven't decide yet, maybe the CBI, maybe Warka maybe the ISX. They have all offered to pay me so much for reading you the news that anyone can read every day.
    Last edited by Screaming Eagle; 02-19-2012 at 08:31 PM.
    Get a free first class world education here. http://www.khanacademy.org/

    We are all born ignorant, but one must work hard to remain stupid. - by Franklin, Benjamin.

  19. #19
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    Quote Originally Posted by dinarii View Post
    OK.

    So help me understand this. Warka uses the CBI rate. Correct?

    What is the market rate? Private money currency exchangers?

    You're saying even though Warka uses 1166, they can't get that because the central bank is no longer selling dollars?
    Dollars are becoming scarce in the Iraqi market so the money changers sell $1 for 1240 dinar. You have to have a bank account to buy a dollar at the 1166 rate and the CBI has limited the amount of dollars they are willing to sell.
    Get a free first class world education here. http://www.khanacademy.org/

    We are all born ignorant, but one must work hard to remain stupid. - by Franklin, Benjamin.

  20. #20
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    SE

    I transferd My Iraq Dinar account into $ back in August last year(done it ion the online banking)....................still waiting to get them back.

    I have lost on the interest rate (as it is better in Dinar) and now the exchange rate 1166................thinking it would only be a few months it get my money out is costing me very very dear.

    EB
    A day without laughter is a day wasted: Charlie Chaplin.

    NO RV TODAY! MAYBE TOMMOROW!

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