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Thread: Warka Mentioned

  1. #1
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    Warka Mentioned

    Below is a mention of Warka, but nothing new

    Author: ASJ, BS
    Editor: BK, BS 3/12/2014 1:21 p.m.number of readings: 48


    Long-Presse / BaghdadCounting Iraq Stock Exchange, said on Wednesday that the Iraqi Central Bank to impose their guardianship on some private banks, led to "shake the confidence" of citizens out, low cash liquidity and price traded, while asking him to take swift action to activate the banking movement and the revival of the national economy, felt that the government's austerity "will not affect" in the stock market work.
    The head of the board of the securities, Abdul Razzaq al-Saadi, said in an interview to the (long-Presse), "The recent actions by the imposition of the Central Bank of Iraq, under the tutelage of a number of private banks, because of problems with them, shook the confidence of the citizens of those banks, which led to the withdrawal of many of them and their deposits, and the reluctance of others to deal with it, "adding that" it has caused the reduction of cash to tack banks and reduce the trading price of its shares in the stock market to a very large extent. "
    Saadi said, that "the Central Bank of Iraq when a spectator standing on a task of private banks in the country, without that can be placed where withdraw their money, because of the lack of liquidity, a strong motivation in addition to loss of confidence in those banks," the central bank, demanding that the "action Links contribute to the revitalization of the banking group and the revival of the national economy, and to enable private banks to operate freely and re-citizen's confidence in them. "
    And saw the head of the board of the stock, that "the austerity measures, which proceeded to the Iraqi government toward economic and investment transactions, will not affect the National Stock Exchange of work," attributing it to "the nature of the stock market work, which depends on the liquidity of citizens, companies and factories operating."He said al-Saadi, that "austerity will not be reflected in the work of the stock market, either negatively or yes," adding, "Although the market is affected by a natural estimated liquidity of the citizens, because they do not exist will certainly lead to the circulation of traffic."
    The central bank has put in (the fourth of June 2014), Bank of the economy to invest, under guardianship, attributing this to the passion for the advancement of the bank and protect its customers, while stressed banking source, then, the bank put a financial sergeant to inventory assets of the bank and put a two-step for the advancement of his or liquidated after the final payment of the money his customers.
    Ditto the Central Bank of Iraq that Warka Bank was placed under guardianship, 2012, to find work, before deciding filed in, (the sixth of February 2014), without the bank's deposits and restores citizens yet.The Prime Minister, Haider al-Abadi, revealed earlier, during a press conference after his meeting with religious Shiite, Ali al-Sistani, in Najaf and attended (the long-Presse), to discuss the issue of the budget three times, and that the Council will prepare a budget in which a military spending as a fait accompli, noting that the 2015 budget, will be based on the current year's budget in 2014, because of the presence of the same problems, of oil from Kirkuk and stopped completely, as well as lower world prices, and expectations about to fall over, for this, the Council of Ministers decided to austerity.

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    Supporter and Investor! oldskiier's Avatar
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    OK.....???? so it's saying the CBI needs to make Warka whole again..????? .... "Ditto" as in "Also".???

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    Quote Originally Posted by oldskiier View Post
    OK.....???? so it's saying the CBI needs to make Warka whole again..????? .... "Ditto" as in "Also".???
    I believe that Warka has already won that part of the litigations and the CBI was supposed to compensate for damages or "restore" warka bank, can't remember exact wording,...which the last I heard the CBI has yet to do,,,apparently they have not even actually released warka bank from guardianship yet either...

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    Correct, this is still the same story line concerning Warka, but this new article was a recent news release from the Director of the Board for the ISX. My guess he is attempting to apply more pressure to the CBI in clearing up the Warka issue and the other banks currently under guardianship.

    Just my guess, I would be interested in what others think.

    T

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    We might see a good progress first with our investments with this BANK before the RV happen AS I POSTED BEFORE....

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    Kazaam! Pow!

    Quote Originally Posted by BatmaninIraq0086
    We might see a good progress first with our investments with this BANK before the RV happen AS I POSTED BEFORE....
    I think Gotham City is in trouble. Holy odor Batman. Someone released laughing gas.
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    I wonder what the compensation package will be ?

    Did warka hide our funds ? so its just operating and other ISX costs for the cbi to bear ? or were Warka completely robbed ?

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    My thought

    Quote Originally Posted by Will-it-happen? View Post
    I wonder what the compensation package will be ?

    Did warka hide our funds ? so its just operating and other ISX costs for the cbi to bear ? or were Warka completely robbed ?
    IMHGO, speculation only. I believe it was a combination of bad loans and paying higher interest rates on accounts then the market could bear. Add to that the withdrawal of government funds and the downfall occurred. Hope I am wrong but that is how I see it.
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    Quote Originally Posted by HumbleGenius View Post
    IMHGO, speculation only. I believe it was a combination of bad loans and paying higher interest rates on accounts then the market could bear. Add to that the withdrawal of government funds and the downfall occurred. Hope I am wrong but that is how I see it.

    HG

    JMHO

    It was the withdrawal of government funds.

    You have to understand "Fractional reserve banking"

    Not sure what ratio they are working to in the middle east and is prob different to western

    When you deposit 100 the bank can lend out 97 on the 100 as it is booked as an asset

    The 97 they lent goes on the books as an asset and they can then 97% of the 97 and so on and so on

    so basically if you forget the 3% 100 deposited creates 1000

    and a 100 loan creates 1000

    Nice work ha!

    You can see that the withdrawal of government funds through a rather large spanner in Warka's reserves

    HTH

    PS when you deposit money into a bank it is no longer yours............it's theirs to do what ever they wish.

    Western banks gamble the money in many ways stocks, fx markets and many other markets hence the melt down 2008

    And as for insurance.....................there is not enough in the pot to cover every unit.........so good luck if your bank goes belly up.

    The insurance was to stop folks from pulling their money out and making the situation worse.

    It's all bread and circus while the system tries to repair it's self............and it does not matter what way you look at it, the system in western economies is going to crash and make 2008 look like a walk in the park.

    HTH

    EB
    A day without laughter is a day wasted: Charlie Chaplin. :cheeky-smiley-025: :yelrotflmao:

    NO RV TODAY! MAYBE TOMMOROW! :shhh:

  10. #10
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    Quote Originally Posted by English Bob View Post
    HG

    JMHO

    It was the withdrawal of government funds.

    You have to understand "Fractional reserve banking"

    Not sure what ratio they are working to in the middle east and is prob different to western

    When you deposit 100 the bank can lend out 97 on the 100 as it is booked as an asset

    The 97 they lent goes on the books as an asset and they can then 97% of the 97 and so on and so on

    so basically if you forget the 3% 100 deposited creates 1000

    and a 100 loan creates 1000

    Nice work ha!

    You can see that the withdrawal of government funds through a rather large spanner in Warka's reserves

    HTH

    PS when you deposit money into a bank it is no longer yours............it's theirs to do what ever they wish.

    Western banks gamble the money in many ways stocks, fx markets and many other markets hence the melt down 2008

    And as for insurance.....................there is not enough in the pot to cover every unit.........so good luck if your bank goes belly up.

    The insurance was to stop folks from pulling their money out and making the situation worse.

    It's all bread and circus while the system tries to repair it's self............and it does not matter what way you look at it, the system in western economies is going to crash and make 2008 look like a walk in the park.

    HTH

    EB

    http://www.forbes.com/sites/greatspe...largest-banks/

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