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  1. #1
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    14-month appointment of stabbing Warka Bank against the decision of the tutelage of t

    13:02 2013-04-02

    14-month appointment of stabbing Warka Bank against the decision of the tutelage of the Central Bank



    BAGHDAD - babysit - said President of the Trusteeship Committee on the Warka Bank in CBI Salem chopsticks "identify the fourteenth of this month as the date to consider the appeal made by the bank against the guardianship decision taken by the central bank against him."

    He said in a press statement that "the Financial Services Tribunal acknowledged that the tutelage of the Central Bank of the Warka Bank is correct, but that the list of the appeal made by the bank to the Court of Cassation overturned the decision of the Court of financial services because he claimed that the central bank did not provide the necessary facilities to him as the Ministry of Finance withdrew deposits him and therefore a distinction taking this regulation."

    He stressed that "the central bank is better earlier in the bank to pay 200 billion dinars at the end of last year, or that he would be subjected to liquidation, but the Warka Bank said he could not pay that amount but will pay 150 billion in the form of payments, did not take the central bank thus introduced a request to the court the basis of the declaration of bankruptcy of the bank, adding that the matter now in the court of financial services to look again because the issue of bankruptcy pending in this case" ... p / i


  2. #2
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    So it looks like the saga continues but still not looking totally in our favour if my reading is correct. Perhaps 'Babs' could help out and translate if he's out there somewhere. It would be much appreciated if he could.
    MWNN

  3. #3
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    is it not the case that warka offered 200billion over 6 months instead of 150billion all at once ?

  4. #4
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    Let me clarify

    Quote Originally Posted by manwithnoname View Post
    So it looks like the saga continues but still not looking totally in our favour if my reading is correct. Perhaps 'Babs' could help out and translate if he's out there somewhere. It would be much appreciated if he could.
    MWNN
    Lets put it this way. Not looking good in any way shape or form in regard to stockholders.

    "declaration of bankruptcy of the bank, adding that the matter now in the court of financial services to look again because the issue of bankruptcy pending in this case"
    ---------------------------------------------------------------
    "Sumerian News", that "the real value of the coin is the value of goods received by the individual and on the strength of the national economy"

  5. #5
    Bunnia is a crook

  6. #6
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    I gave up on Warka shares long ago...there is no bad news for me. I do like the translation...chopsticks...anyone hungry?

  7. #7
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    And you have to love the title of this...STABBING WARKA BANK...eeek eeek eeek... right out of Psycho.

    p.s. Iraq needs foreign investors, please send money...we have to feed grandma upstairs! eeek eeek eeek

  8. #8
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    Bankrupting a bank is a financial curse and on top of a bank where mostly foreign investor's money is sitting and country is dying for foreign investment, most likely warka will come out of it just a matter of time, not that I recommend this bank to any one.

  9. #9
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    Has anyone here on the forum recently transferred dinars out of Warka into another Iraqi bank, or exchange, such that they could then purchase stocks through the "new" entity, sell them, and then redeem?

  10. #10
    Quote Originally Posted by seadesk View Post
    Has anyone here on the forum recently transferred dinars out of Warka into another Iraqi bank, or exchange, such that they could then purchase stocks through the "new" entity, sell them, and then redeem?
    Transfer dinars out of Warka? No you cannot do that at this time. You can however transfer ISX shares out of Warka which I have done. You need to open an account with a different broker. I reccomend Aljazera but you will have to be willing to wire over $10,000 to open the account. I borrowed some funds to do this. Wired it over, bought shares in one day, sold the next, and wired back to me within 1 week! Once your new brokearge account is open, they will transfer your shares out of Warka. Even the delisted stock Al-Quma for Financial investment (VQUF) was transferred for me . Warka shares however cannot be transfered due to the current sitaution, but who realy cares anyway, Bunnia is wiping his butt with them.

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