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  1. #51
    Supporter and Investor!
    Join Date
    Oct 2006
    Posts
    486
    When you transferred your money out of Warka, was it in your good name? Also, were the stock figures you previously received from Warka accurate?
    I'm asking because amny on this site have stated that there are discrepancies between their stock records and Warka's.

    Thanks for the info.


    Quote Originally Posted by ISX Junkie using Aljazera View Post
    The Only way to move your money out is to buy stock through warka and transfer that stock out to a new broker. The broker I chose is Aljazera. First I had to open and fund my account with Aljazera. They require an initial $10,000 wire transfer to open an account. That is a lot of money and the reason why people are still stuck in Warka. You can visit the isx website and research other brokers but I haven't heard of any other reputable brokers other than aljazera ,rabee securities ($100,000 initial wire) and al karmal. After I funded my account with warka I simply emailed aljazera to transfer over all my stock to their brokerage. The whole process took 2 days. This is the only way to move money out that I know of at present moment. In the meantime until you can raise funds I would put your money stocks in your name or keep rolling it into CD's. I believe both are protected under Iraqi law.
    "I have nothing to offer but blood, toil, tears and sweat." - Sir Winston Churchill

  2. #52
    Quote Originally Posted by dinar_dude View Post
    When you transferred your money out of Warka, was it in your good name? Also, were the stock figures you previously received from Warka accurate?
    I'm asking because amny on this site have stated that there are discrepancies between their stock records and Warka's.

    Thanks for the info.
    Yes all shares were in my good name. Aljazera requested a copy of my portfolio straight from the IDC (Iraqi Depositroy Center) showing all my holdings with Warka. All of my totals were correct except for 2 stocks, BEFI and IMAP. I was missing paid up shares that I subscribed for. Here is Aljazera's response to the discepancy.

    There is no need for you to write to Warka about the so-called "discrepancy" between your IDC stock account
    and your Warka stock account . We do not think there is a discrepancy . The fact is that new issued shares of any listed company usually take up to 6 months to be listed on any exchange in the world . Therefore , you need to wait until your new bonus and paid-up shares of these two companies (BEFI and IMAP) are listed on the ISX and appear in your Warka stock account . We shall then also transfer these new shares from your Warka account to your account with Aljazera Brokerage Company . We receive official notifications from the ISX when the new shares are addded to the accounts of ISX investors .

    Since then I have received the BEFI paid ups. Not sure if IMAP have been transfered yet. They are probably added to my account I just forgot about it. Hope this info helps.

  3. #53
    Supporter and Investor! haggisbasher's Avatar
    Join Date
    Jul 2005
    Location
    AULD CALEDONIA
    Posts
    605
    Got my CD initiated today,warka are still alive.

  4. #54
    Supporter and Investor!
    Join Date
    Oct 2006
    Posts
    486
    It's very helpful - thank you!

    I'm going to look into this as it appears you're getting faster and more efficient service through Al-Jazera. Do they have an online site where you can get regular reports on your holdings?

    Quote Originally Posted by ISX Junkie using Aljazera View Post
    Yes all shares were in my good name. Aljazera requested a copy of my portfolio straight from the IDC (Iraqi Depositroy Center) showing all my holdings with Warka. All of my totals were correct except for 2 stocks, BEFI and IMAP. I was missing paid up shares that I subscribed for. Here is Aljazera's response to the discepancy.

    There is no need for you to write to Warka about the so-called "discrepancy" between your IDC stock account
    and your Warka stock account . We do not think there is a discrepancy . The fact is that new issued shares of any listed company usually take up to 6 months to be listed on any exchange in the world . Therefore , you need to wait until your new bonus and paid-up shares of these two companies (BEFI and IMAP) are listed on the ISX and appear in your Warka stock account . We shall then also transfer these new shares from your Warka account to your account with Aljazera Brokerage Company . We receive official notifications from the ISX when the new shares are addded to the accounts of ISX investors .

    Since then I have received the BEFI paid ups. Not sure if IMAP have been transfered yet. They are probably added to my account I just forgot about it. Hope this info helps.
    "I have nothing to offer but blood, toil, tears and sweat." - Sir Winston Churchill

  5. #55
    Supporter and Investor!
    Join Date
    Mar 2009
    Location
    UKSSR
    Posts
    560
    Quote Originally Posted by haggisbasher View Post
    Got my CD initiated today,warka are still alive.
    Well done HB. Persistance over comes resistance although I have always believed Warka are still trading. Admittedly not in the way we would like but hopefully showing us some more light from the tunnel.
    MWNN

  6. #56
    Supporter and Investor!
    Join Date
    Feb 2010
    Posts
    368
    you're lucky. I've been trying for the last 3 weeks to get a new cd. No response from anyone at Warka including the headman himself. I've sent 7 emails now.

    update - checked this morning and I have a new CD,,,
    Last edited by Brazileiro; 07-18-2013 at 12:15 PM. Reason: update

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