((Read!)) How To Sell ISX Stocks Through Warka Investment Bank...

[AAD]

How To Sell ISX Stocks Through Warka Investment Bank

Last updated: 03/24/2010

[NOTE: Warka was the trend-setter but it is now not the only bank/broker in Iraq willing to do business with foreigners, I cannot provide you with broker requirements from other brokers as I don't do business with them. But please don't let that stop you from checking out the competition and doing your own due diligence. You may be interested in brokers like Al-Karmal LTD. or any broker found at the official ISX site ISX-Iq.net, simply contact those brokers and follow their required procedures.]

For information on buying ISX stock go to: How To Purchase ISX Stocks Through Warka Investment Bank

Starting November 1, 2009 trading days on the ISX will be Sunday to Thursday, the market will be closed Fridays. The pre-session period will start at 9:30 am Iraqi time, the main trading session will be two hours from 10 am to 12 pm Iraqi time. So make sure that you send your stock sell requests a day before the ISX trading hours. Also you might only get part of your requests sold and you will need to resubmit a new request to complete any previous stocks/shares that they weren't able to completely sell. You must resubmit your sell request every time as they will not automatically do it for you. In order to sell there must be equal buyers otherwise your order may not go through or be completely filled.

It may take about a week or more to get a response on the status of your ISX request. If your request was executed a confirmation email should include an attached Excel spreadsheet detailing exactly what was executed.


---> To sell ISX stock download the "ISX Sell Request Form" file attached at the bottom of this post. Print it, fill it, sign it, scan it and save it as a PDF file. If you don't have a scanner, please go to your nearest copy/printing shop and they can help you save it onto a disk. Now send the PDF attached with your ISX sell eMail request to: ISX@Warka-Bank-IQ.com

Here’s an example eMail for an ISX sell request:


Hello,

Please note that attached to this eMail is an ISX sell authorization PDF form to be executed.

Thank you,


> Below is an example of how the ISX sell form is used (only pick the companies/sectors that you really want):


I, __(Your Name)__ authorize Warka Investment Bank to sell approximately __(2,200,000)__ shares and deposit all sale proceeds into my IQD Savings Account #__________. It is understood between the parties that Warka Investment Bank shall receive 1% in the form of commission at the time when said shares/stocks are sold and their sale proceeds deposited into the mentioned account above. The following ISX share/stock sell is to be executed for the trading day of __(Date)__.


Sell __(100,000)__ shares from each of the company stocks below:

• Banking Sector:
1) AL-WARKA'A INVESTMENT BANK
2) BABYLON BANK
3) BANK OF BAGHDAD
4) INVESTMENT BANK OF IRAQ
5) IRAQI ISLAMIC BANK
6) IRAQI MIDDLE EAST INVESTMENT BANK
7) NATIONAL / CIVILIAN BANK OF IRAQ

Sell __(200,000)__ shares from each of the company stocks below:

• Investment Sector:
8) AL-WIAAM FOR FINANCIAL INVESTMENT
9) AL-ZAWRAA FOR FINANICAL INVESTMENT

Sell __(100,000)__ shares from each of the company stocks below:

• Services Sector:
10) AL-AMEEN ESTATE INVESTMENT
11) AL-NUKHBA FOR CONSTRUCTION
12) MAMOURA REAL ESTATE INVESTMENT

• Industry Sector:
13) BAGHDAD SOFT DRINKS
14) EASTERN BREWERY
15) MESSAN FOR FOOD INDUSTRIES
16) METALLIC INDUSTRIES AND BICYCLES
17) MODERN PAINT INDUSTRIES
18) NATIONAL CHEMICAL INDUSTRIES
19) NINEVEH FOR FOOD INDUSTRIES
20) NORTH SOFT DRINKS

Total shares to be sold from _20_ company stocks = __(2,200,000)__.

Parties in full agreement, signed below.



_____________(Your Name)_____________ Date_____________
Legal Account Owner & Investor



_____________________________________ Date_____________
Warka Investment Bank Representative

__________________________________________________ ________________________

NOTE: Keep in mind that just because you are selling shares/stocks it does not mean that they will be sold entirely, partially, or at all. First there must be other people looking to buy what you are selling. So in other words Warka Investment Bank will sell your shares/stocks as long as there was someone willing to buy them. You can contact ISX@Warka-Bank-IQ.com regarding any personal and important ISX issues.

ISX Tips

One of things to keep in mind is not to over analyze this investment and make it too complex.

• Keep it simple and track the things that matter to you.

• Keep note of the highest price amount you paid for your stock against it's current closing price, and make that the deciding factor if you will profit or lose with your stock, if you were to sell it.

• Hold on to the stock until you see the type of profits that are to your liking. Sell fully or partially only when good profits can be reached.

• Do some research on what stocks may likely be more profitable in the future, if possible check a companies historical rises/downfalls, and possible financial outcome. Banks are usually a good stock investment along with a few other crucial industries.

• Try not to make selling/buying decisions on impulse or necessarily on what you may hear in the media.

None of the above is to be taken as financial or legal advice... - AAD

____________________________Important_____________ ________________

Whenever eMailing Warka Investment Bank for whatever important issue, do it around their business hours and preferably in the morning 8-11am Sun-Thurs Iraqi time. Never send them more than one email per day, just be patient for a response. Sometimes Warka Investment Bank may be very busy and what should normally take a few days, can take a week or more. If you also factor in any holidays in Iraq (and Germany if wiring funds) those can also delay the response process. Please don't drown them with eMails because this in the end will affect everyone's response time. Remember for common questions/tips you can always simply ask them here at the forum instead of eMailing Warka with non crucial questions. You can check the current Baghdad time before eMailing them: www.timeanddate.com/worldclock/city.html?n=27

Contacting Warka Investment Bank

Below are the contact details of the related departments at Warka's Main Iraqi Branch that will handle your specific requirements and inquiries. Please direct your emails directly to the related department where a full response should be provided within 3 business days. Inquiries/emails directed to the wrong department will be automatically disregarded; emails sent over the weekend (Friday & Saturday Iraqi time) or on Iraqi holidays will also be disregarded.

For any information concerning opening an account at any Warka branch, please contact: C.Accounts@Warka-Bank-IQ.com

The contact details below are only for clients holding or wishing to hold accounts at the Main Branch.

For any general information you may need to ask, please contact: Info@Warka-Bank-IQ.com

For any information concerning opening CDs, wire transfer confirmations for clients whom do not have online access, exchanging funds for clients whom do not have online access, bank account statements, please contact: C.Services@Warka-Bank-IQ.com

For any information concerning online/e-banking, please contact: e-Bank@Warka-Bank-IQ.com

For any information concerning the Iraq Stock Exchange (ISX), please contact: ISX@Warka-Bank-IQ.com

For any information concerning wire transfers (in & out of IRAQ), please contact: Nasser@Warka-Bank-IQ.com

For any information concerning the SWIFT department, please contact: SWIFT@Warka-Bank-IQ.com

For any information concerning Western Union, please contact: WU@Warka-Bank-IQ.com

For any information concerning credit cards, please contact: CC@Warka-Bank-IQ.com

For any information concerning debit cards, please contact: Sawsan@Warka-Bank-IQ.com

For any information concerning International Affairs and Corresponding Banking Relations, please contact Mr. I. at: IFRD@Warka-Bank-IQ.com

Official Warka Investment Bank Website

www.Warka-Bank.com

I wish you the best of luck and prosperity...

[DallasDinar]

Hey AAD I only seen this thread but I want to tell you I appreciate the sell form. I had everything but that I figured I could write it myself but you just saved me some time.

Again thanks,

DD

[yunowu]

Thanks for your time and effort, AAD !!

[onenomad]

Thanks for the info however wont be needing it for a loooooooooong time;) Thanks again

[dagod1]

Excellent, I save all of the forms that I find for future use, awesome.
Thanks
Rob

[calstar]

Thanks AAD, I've downloaded the files. :)

[Garf]

Thanks AAD, I've downloaded the files. :)

Me too... thanks for your work !!

[msmill]

Me too... thanks for your work !!

Ditto. Thanks AAD!!!

[MedC]

Thanks for taking the time AAD, this was the only form I was missing.

[millionairetobe71]

is Always Good To Know That Some Of Us...old Folks Are Looking For Ways To Help The New Members...

and, That Helps To Keep Away Members Asking The Same Questions Over And Over Again....

thank You For Your Efforts..

mtb71

[oldskiier]

Thanks "Aad" ....

[pearse1916]

Thanks for that man it will come in handy one day . I hope i have need for it soon

[Theodora]

Isn't 2 % they take off and not 1%?

[RotaryRevn]

No, they take 2% if you change the stock into your name

[Theodora]

No, they take 2% if you change the stock into your name

Thanks RotaryRevn :)

[onlinetrading]

Yes, i also agree that they take 2% if you change the stock into your name !

[chakkarchee]

I have tried to sell 2 stocks in two different order via warka in last three weeks to no avail, one was 100,000 shares of Bank of Baghdad and 2nd was Chemical and plastics for 100,000. Can someone share their experience of selling stock and completing their sell order. I used warka sell format to complte my order. Thanks

[War Eagle]

Warka looks out for their Iraqi ,and their large foreign customers,and us "small-frys" are left "sucking wind".I have been trying since April to adjust my portfolio-to NO avail.I simply can NOT get Warka to execute my trades,which at this time consists of selling off some of my larger holdings so as to buy more shares in companies I believe to be excellent in the future.I emailed Mr. I,and got a very curt reply.I then asked if I should closr my account with them,and seek another broker.He,then got more civil,and said he would help.He would make a good politician-tell you what you want to hear,then do NOTHING.I am very disappointed with them.I have been with them 3 years,and up until about April got very good service.I do NOT recommend them at this time.In the future I believe they will again be a good company to deal with.They simply got Too big.Too fast,and their service has NOT caught up. I guess I will have to get a passport,and transfer my holdings to Karmal.I was trying to wait until all of the paid up,and free shares were issued-but it looks like this,too,will take a LONG time.All of this is,of course,IMHO

[AAD]

I have tried to sell 2 stocks in two different order via warka in last three weeks to no avail, one was 100,000 shares of Bank of Baghdad and 2nd was Chemical and plastics for 100,000. Can someone share their experience of selling stock and completing their sell order. I used warka sell format to complte my order. Thanks

Warka looks out for their Iraqi ,and their large foreign customers,and us "small-frys" are left "sucking wind".I have been trying since April to adjust my portfolio-to NO avail.I simply can NOT get Warka to execute my trades,which at this time consists of selling off some of my larger holdings so as to buy more shares in companies I believe to be excellent in the future.I emailed Mr. I,and got a very curt reply.I then asked if I should closr my account with them,and seek another broker.He,then got more civil,and said he would help.He would make a good politician-tell you what you want to hear,then do NOTHING.I am very disappointed with them.I have been with them 3 years,and up until about April got very good service.I do NOT recommend them at this time.In the future I believe they will again be a good company to deal with.They simply got Too big.Too fast,and their service has NOT caught up. I guess I will have to get a passport,and transfer my holdings to Karmal.I was trying to wait until all of the paid up,and free shares were issued-but it looks like this,too,will take a LONG time.All of this is,of course,IMHO

Sorry to hear about those problems guys, perhaps if this is indeed happening with frequency and enough customers complaint, Warka will get their service on track again (I wonder if these issues have anything to to do with the electronic trading)...