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Thread: Proxy shares

  1. #1
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    Proxy shares

    Does anyone know the status of shares held in prosy? I've emailed the ISX department as well as ifrdl and haven't recieved a response from either.
    MONEY NEVER SLEEP$

  2. #2
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    Quote Originally Posted by What If.... View Post
    Does anyone know the status of shares held in prosy? I've emailed the ISX department as well as ifrdl and haven't recieved a response from either.
    Supplies !!! yes ... to the best of my knowledge (and several others here) they are considered a Warka asset - seized with everything else we presume ... looks like good news is coming ... Supplies !!! #2 .... all sources saying CBI Bad ...Warka Good ... waiting for CBI to cut a check and put all things right in Warka World.

    Looks like Warka is on hold for all requests.. including yours - the only thing that they will do at lightning speed is process a deposit (not advised)

  3. #3
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    Thanks for the heads up.

    So will we be able to transfer them into our name when this is settled, or are we SOL?
    MONEY NEVER SLEEP$

  4. #4
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    Quote Originally Posted by What If.... View Post
    Thanks for the heads up.

    So will we be able to transfer them into our name when this is settled, or are we SOL?
    What if:

    So, you're not necessarily SOL. You just need to stand by. Iraq is turning. I think Warka will be back, against odds.

    Faith my friend.

    My best to you.

    Seadesk

  5. #5
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    Quote Originally Posted by What If.... View Post
    Thanks for the heads up.

    So will we be able to transfer them into our name when this is settled, or are we SOL?

    When it's settled, you will be able to transfer to your good name & make withdrawals, like any other bank. They apparently had to fight their own battle w/the CBI..which is run by opposing sect. Nasty religion it is.
    [Still kicking]

  6. #6
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    Quote Originally Posted by 40plus View Post
    When it's settled, you will be able to transfer to your good name & make withdrawals, like any other bank. They apparently had to fight their own battle w/the CBI..which is run by opposing sect. Nasty religion it is.
    Please beaware Your good name means sucker in Arabic. Wonder if it occured to anyone here yet
    Last edited by chakkarchee; 12-14-2013 at 03:52 AM.

  7. #7
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    Do you think they are a lost cause chakkarchee?
    MONEY NEVER SLEEP$

  8. #8
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    Quote Originally Posted by What If.... View Post
    Do you think they are a lost cause chakkarchee?
    Most likely Warka will make a good comeback sooner or later, their board seems to have good fight left in them to protect their intrest. It is my portfoilio and account I have not sure about how intact it will be when dust clears. ( For now my portfolio is not even showing on line and it is a serious concern) Still to answer your question, yes I have some hope left that my accout will survive may be some old fashioned Iraqi way.

  9. #9
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    I'm not too worried. The last thing Iraq wants now is to dissuade foreign investors from investment, especially with foreign banks beginning to enter the country. The negative fallout resulting from foreign investors being screwed out of shares in Iraqi businesses and banks would be pretty bad, and would set a poor precedent. It'll take time, and these guys do take a lot longer to muddle through issues than most, but I think we'll all get back what is ours in the end. Just my two cents.
    "I have nothing to offer but blood, toil, tears and sweat." - Sir Winston Churchill

  10. #10
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    Just to add, I've submitted a few requests for my portfolio from Warka during this whole debacle, and they have provided them, although it took months in some cases. What's interesting is that they keep adding shares (in the millions) to my portfolio although I haven't bought any stock during this period. I can only assume that these are free shares, or paid up shares. It may indicate that their internal record-keeping is still ongoing and that they are tracking ISX splits, etc, although the branches may be operating on skeleton crews due to the uncertainty of the legal process. I may take them some time to regain their normal operating tempo once the CBI or whoever provides the cash to restart normal banking operations, but I think it's coming.
    "I have nothing to offer but blood, toil, tears and sweat." - Sir Winston Churchill

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