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  1. #1
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    «Warkaa» is preparing to merge with Standard Chartered

    http://almustaqbalnews.net/index.php...263&Itemid=598

    «Warkaa» is preparing to merge with Standard CharteredBaghdad / follow-up to the future: announced «Bank« Warka »Iraqi private close its merger with Standard Chartered British, at the request of the Iraqi Central Bank raising capital all private bank to 250 billion Iraqi dinars ($ 200 million) by the end of 2013. The Executive Director for «Warkaa» Mohammed al-Samarrai, a merger agreement reached its final stages between the Iraqi banks and the British, what gives first the bank's ability to fund major projects. He stressed that the merger of the bank with a foreign institution giant will increase the confidence of customers and the government and the Central Bank of Iraq. Was the Iraqi Central Bank called for private banks to merge with each other, to ensure the formation capitalized facilitate the work of financial and strengthen citizen's confidence in them. The source of the «Union of Iraqi banks» that «private banks reject the merger, being family banks and financial institutions not in the true sense. Every family want to sit on the throne of the financial institution is not shared by the family of a second. The source explained that the first merger agreed upon will be between four private banks, pointing out that «no solution to these banks only a merger, being obliged to submit a financial statement end of 2013 to the Central Bank that it raised its capital to 250 billion Iraqi dinars». Operates in Iraq six Arab and foreign banks especially are «ABC» Bahrain and «Turkish Agricultural Bank» (زرات) and «Bank Melli Iran and the Lebanese banks 'Byblos' and 'Intercontinental' and« Beirut and the Arab countries. The Iraqi financial institutions are seven state banks, five of which are concerned with the affairs of specialized industrial, commercial and housing, and 30 private banks, of which seven are Islamic.

  2. #2
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    If true this is a gamechanger!!!

  3. #3
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    If something that spectacular happened, I would have to apologize for everything I've said about that money stealing, back stabbing, Bunnia

    Thanks for the update!

  4. #4
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    Nothing about this on the Warka site yet. Is it old news re-hashed?
    MWNN

  5. #5
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    fantastic news

    i wonder if the share price will now skyrocket to the levels SC is at the moment ? (£16ish or USD$24ish)

    but that would only happen if sc actaully offered that per owned bunia share

    so i wonder what they will offer per share ?
    Last edited by Will-it-happen?; 04-13-2013 at 04:48 PM.

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  7. #7
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    Quote Originally Posted by ISX Junkie using Aljazera View Post
    Cheers ISX J
    I had my suspicions
    MWNN
    Last edited by manwithnoname; 04-14-2013 at 09:33 AM.

  8. #8
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    Maybe not. Warka and SC were going to hopefully merge in 2011, and maybe it is on the table again. The link given for this article might be a newer one, I hope.

  9. #9
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    Quote Originally Posted by Will-it-happen? View Post
    fantastic news

    i wonder if the share price will now skyrocket to the levels SC is at the moment ? (£16ish or USD$24ish)

    but that would only happen if sc actaully offered that per owned bunia share

    so i wonder what they will offer per share ?
    Oh My!!! I doubt they will let you have that much...just go stand in line, it forms right beside the "dinar get rich scheme" line. Take your sleeping bag & plenty of food and water, it's now become your new residence.

    There are no scenario's like that in iraq, it's corrupt...all the profits are stolen off the top. It's a mirror image of the US, unless you hold a political position, or have inside deals with the gov't, you're screwed. Now go back to work and pay your taxes!!! The lawmakers need a vacation on your dime.

  10. #10
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    Well, as I calmed down and read each article closely, they are the same. Oh well, I was hoping Kick would be apologizing to Bunnia.

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