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News from Warka for Proxy stock holders


NMP2017
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Here is the info copied from the Warka site

 

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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12 minutes ago, vandal said:

I don't see a date for this notice.  Luckily, I have a valid passport.  Some proxy holders might not.  I haven't looked here for at least a week.  Thanks MNP!

 

It's located on their main page about half way down. "Latest News" It is scrolling across the page. Click on it and it takes you to the announcement.

The last time they posted anything was March 26, 2017 . Go figure.

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1 hour ago, jb4388 said:

 

It's located on their main page about half way down. "Latest News" It is scrolling across the page. Click on it and it takes you to the announcement.

The last time they posted anything was March 26, 2017 . Go figure.

yep and this is almost 1 year since the ISC denied them being relisted in the ISX. I wonder what is next...

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5 hours ago, vandal said:

Thank you.  Been a while since I really looked at the web site.  Used to look there a lot and forgot.  Sent my letter with a copy of my passport yesterday.  Hope they don't take a year to get back to me.  

You're welcome vandal,

You should get confirmation and an ISX number. I'd email that 3044 email address and Mr Issa if no confirmation within 10 days. Would still have a few days in case something went wrong...good luck! Fingers crossed all goes well,,,

Edited by NMP2017
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NMP2017, thanks for posting this from Warka Bank because I'm sure I would have missed it. I just sent my documents to that broker email address an copied Mr I on it. If I don't hear anything back from them by Wednesday I will resubmit them again. 

Not sure how close they will be holding to that 15 day deadline before they liguadate your holdings, so will not be taking any chances.....

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NMP2017,

Thanks so much for the heads up on this.I sent out an authorization letter 2 months ago on the proxy issue and never heard a thing back from Warka. In my new Authorization letter I felt the need to also state that my Authorization to transfer all Stocks and Shares were to include any Stocks and Shares acquired as a result of dividends paid to myself XXXXXd X. XXXXXXXXX and or issued to the proxy company. I needed to say this just in case anything acquired was to be confiscated by the proxy company. I may not have needed to say this but why not see to it that all the bases are covered. 

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  • 3 weeks later...
1 hour ago, hawaii50hawk said:

Has anyone found another broker that is handling their account professionally? 

Earlier this year I transferred my stocks from Warka Bank (in my good name) to Al Karmal. Below is who I helped me. I am very satisfied with the service they provided.

image.jpeg.47005e1f7e0d02cb0ed7e64b7f9c0d72.jpeg

Email taha@isx-karmal.com Website www.isx-karmal.com

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Update: Yesterday, Monday I placed a buy order with Al Karmal. This morning I checked my account and all but 2 stocks were purchased. The two that were not was because I did set my price range too low and the stocks exceeded my purchase price. 

 

For those wondering I wired funds from the US to Bank of Baghdad > into Karmal's account. It took a few days but was posted Sunday. It was a smooth process.

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On 2/27/2018 at 7:49 AM, jb4388 said:

Update: Yesterday, Monday I placed a buy order with Al Karmal. This morning I checked my account and all but 2 stocks were purchased. The two that were not was because I did set my price range too low and the stocks exceeded my purchase price. 

 

For those wondering I wired funds from the US to Bank of Baghdad > into Karmal's account. It took a few days but was posted Sunday. It was a smooth process.

 

 

Something that might help if you do plan to wire funds to Al Karmal. Once your routing info etc is entered at your bank I would suggest setting up a  recurring number at your bank for any future wire requests. This way all the wire info will be saved and can be pulled up in a moment or two.  Otherwise you'll be standing at the counter like I did today watching them retype all that info.

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