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Warka news for Proxy stock holders


NMP2017
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For those that don't want to click on the link here is the info

 

Dear Proxy Stockholders ,
 
According to the current regulations and guidelines all stock holders holding stocks and shares under the name of our proxy company are kindly requested to submit a colored copy of their valid passport and a signed authorization letter authorizing our brokerage company (Warka Brokerage company) to transfer all stocks and shares held under the name of the proxy company to the direct name of the stock holder depositing the shares under his / her name in the ISX depository system.
 
Proxy holders whom fail to provide a copy of the colored valid passport and authorization within 15 days from posting this notice on our website will have their shares liquidated and sold and the funds deposited directly into their accounts held at Warka Bank for Investment and Finance.
 
Please send the requested information directly to our brokerage office 3044@warka-bank-iq.com noting that emails directed to the non relevant department will be disregarded and considered null and void. 
 
Thank you for your fine cooperation.
 
Respectfully,
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20 hours ago, NMP2017 said:

doesn't look like warka back in business to me. looks like no more warka brokerage clients after 15 days. I wonder what is next after that?

 

Well I'm pretty pumped about this myself, I tried to open an account last year with another broker in Baghdad an continue in the ISX but all my stocks were tied up with Warka an couldn't transfer. Warka Bank is still business as usal but getting out of the ISX market. 

Dont know how long you been buying stocks in the ISX but I got in when they were using a black board an Warka was the only way us foreigners could participate. Now it makes sense why Warka hasn't communicated with its ISX customers for the past few years, their getting out of it. Another thing, if all their ISX customers called in an wanted to sell their holdings can you imagine how much that would cost them. More liquidity than the bank was willing to pay out....

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7 hours ago, DoD said:

 

Well I'm pretty pumped about this myself, I tried to open an account last year with another broker in Baghdad an continue in the ISX but all my stocks were tied up with Warka an couldn't transfer. Warka Bank is still business as usal but getting out of the ISX market. 

Dont know how long you been buying stocks in the ISX but I got in when they were using a black board an Warka was the only way us foreigners could participate. Now it makes sense why Warka hasn't communicated with its ISX customers for the past few years, their getting out of it. Another thing, if all their ISX customers called in an wanted to sell their holdings can you imagine how much that would cost them. More liquidity than the bank was willing to pay out....

It is definitely GREAT news for people with stocks held by Warka Brokerage! Now if we could get great news about our cash accounts :)

I'd imagine Warka would need to limit withdrawals when we get access to our cash again to prevent just what you're saying about people cashing out all at once...

Edited by NMP2017
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I submitted this an a copy of my passport request on Sunday 1/28/2018 an received this reply back yesterday 1/30/2018, pretty good turnaround if you ask me.

 

Dear Sirs,

 

Thank you for sending us a copy of your passport. We have submitted a copy of your passport to the Iraqi Stock Exchange where they have requested a clear colored copy certified by the Iraqi Embassy or Consulate in your country bearing the Embassy and Consulate seal. 

 

Please send us a certified copy by email 3044@warka-bank-iq.com sending their original to the following mailing address:

 

Iraq – Baghdad – Arasat Alhindia – Sector 929 – St. 30 Building Warka HQ 

 

Please send us your certified documents within two weeks from receiving this notice where we appreciate your fine cooperation and support.

 

 

Best regards,

 

Warka Brokerage Office 

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On 1/31/2018 at 8:04 AM, DoD said:

I submitted this an a copy of my passport request on Sunday 1/28/2018 an received this reply back yesterday 1/30/2018, pretty good turnaround if you ask me.

 

Dear Sirs,

 

Thank you for sending us a copy of your passport. We have submitted a copy of your passport to the Iraqi Stock Exchange where they have requested a clear colored copy certified by the Iraqi Embassy or Consulate in your country bearing the Embassy and Consulate seal. 

 

Please send us a certified copy by email 3044@warka-bank-iq.com sending their original to the following mailing address:

 

Iraq – Baghdad – Arasat Alhindia – Sector 929 – St. 30 Building Warka HQ 

 

Please send us your certified documents within two weeks from receiving this notice where we appreciate your fine cooperation and support system" rel="">support.

 

 

Best regards,

 

Warka Brokerage Office 

 

DOD,

 

Could you add some additional insight here.......I take it they are sending this to an embassy in the country you live in?......then does your country get that to you?....and then you send it back to that address they listed......all in a 2 week period?

 

Between the Iraqi and US govts more likely to take 2 months.....any thoughts....or am I just off.........CL

 

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4 minutes ago, coorslite21 said:

 

DOD,

 

Could you add some additional insight here.......I take it they are sending this to an embassy in the country you live in?......then does your country get that to you?....and then you send it back to that address they listed......all in a 2 week period?

 

Between the Iraqi and US govts more likely to take 2 months.....any thoughts....or am I just off.........CL

I believe you will need to send all this to AACC then back to Warka... the two week time period is tight. I have read on forums where the 2 weeks begin after Warka replies to your email.

 

Here is some older information I found..

http://dinarvets.com/forums/index.ph...comment-692364

4 minutes ago, coorslite21 said:

 

 

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56 minutes ago, jb4388 said:

I believe you will need to send all this to AACC then back to Warka... the two week time period is tight. I have read on forums where the 2 weeks begin after Warka replies to your email.

 

Here is some older information I found..

http://dinarvets.com/forums/index.ph...comment-692364

 

 

Thanks for those thoughts....will let you know what I come up with...

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On 2/1/2018 at 7:13 AM, coorslite21 said:

 

DOD,

 

Could you add some additional insight here.......I take it they are sending this to an embassy in the country you live in?......then does your country get that to you?....and then you send it back to that address they listed......all in a 2 week period?

 

Between the Iraqi and US govts more likely to take 2 months.....any thoughts....or am I just off.........CL

 

 

coors, I see my reply yesterday didn't go through ( I was on a plane). I just clicked on the link that Trinity shared from back in 2011 an it appears the process has changed, that's the reason I didn't do it way back then. I sent a reply back to the Warka Brokerage dept for claraification on the items you mentioned. I will post their reply when I hear back...

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36 minutes ago, DoD said:

 

coors, I see my reply yesterday didn't go through ( I was on a plane). I just clicked on the link that Trinity shared from back in 2011 an it appears the process has changed, that's the reason I didn't do it way back then. I sent a reply back to the Warka Brokerage dept for claraification on the items you mentioned. I will post their reply when I hear back...

Thx

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  • 2 weeks later...

Hey guys, I'm pretty sure that they want a copy of the same documents that you first used to gain access to the ISX.  I think it was in Adam's Cash in Guide.  Yeah its from the AACC.  I needed to do that in 2011 for Warka to allow me to buy stocks. Al Karmal also requested this when I opened my account just a month or two ago-I just emailed them the 2011 copy of the documents and all's well.

Good Luck

 

 

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