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Seniortour

Proxy Stock Holders

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Per Warka's customer letter on their Web-site, has anyone got a response?

 

Per their request I sent the information requested about a week ago.

 

Have heard no response back. Normal for Warka.

 

Thanks.

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You should receive an email from Warka like this....

 

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

 

Now you have 15 days to complete this process and get all documents back to Warka. How strick they will be is not clear. 

 

But I'll save you some time..

 

Call the AACC . They can tell you exactly what you will need. (and the cost). I did this whole process 10 years ago so I don't remember the order of all the steps. 
http://www.arabchamber.com/

About AACC:
1300 Pennsylvania Avenue NorthWest Suite 700
Washington, District of Columbia - 20004
Telephone: (202) 347-5800
Toll Free Tel: 1 888-939-ARAB

 

Good Luck.

Edited by jb4388

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I sent Warka Brokerage a request for stock transfer on February 2nd and have yet to even receive a reply. I do have my original certified copy's of all documentation needed from Warka back in 2011. I will re-send these documents by E-mail as there can be no expiration date on a certified document. But I'm apprehensive about sending my originals to the 

named address. Any comments or advice?

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I finished sending my 2nd request to transfer stocks. In addition all the original correspondence with emails from 2011 establishing my ISX trading account in the first place with Warka. I'll let you all know if Warka Brokerage responds. 

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4 hours ago, unirod said:

I sent Warka Brokerage a request for stock transfer on February 2nd and have yet to even receive a reply. I do have my original certified copy's of all documentation needed from Warka back in 2011. I will re-send these documents by E-mail as there can be no expiration date on a certified document. But I'm apprehensive about sending my originals to the 

named address. Any comments or advice?

Unirod, don't send any originals.  I can tell you that Al Karmal handled retrieving my stocks from Warka and they requested the same thing-certified documents and I (just like you) had my documents from 2011- I emailed them a copy and everything went smooth.

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There you go Unirod, our brother jb4388 provided the link. I found out about Al Karmal through him and its been quite easy. I placed a trade today as a matter of fact-bought another tranche of TASC

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Today I applied for an Al Karmal account. I'm so used to crappy service from Warka, will I have to wait until Christmas to get a reply? LOL!!

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5 hours ago, unirod said:

Today I applied for an Al Karmal account. I'm so used to crappy service from Warka, will I have to wait until Christmas to get a reply? LOL!!

 

No they are very prompt.

I wrote them yesterday about cash dividends and received a reply this morning.

Best of Luck

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8 hours ago, unirod said:

Today I applied for an Al Karmal account. I'm so used to crappy service from Warka, will I have to wait until Christmas to get a reply? LOL!!

If your ISX stocks are still tied up with Warka Bank "in your good name" you are wasting your time trying to get them transferred over. If your looking to just open an account an start buying on the ISX it appears you can't go wrong with this broker.

I tried to open an account an transferring my stocks from Warka a couple of years ago with no luck. Warka has to transfer your stocks into the ISX system, which it appears that's what their in the process of trying to do now.

The gentleman I was in contact with back then with Karmal said there was no record of my stocks with the ISX, thus the need to make the transfer....

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Up until now I have had pretty good luck and communication with Warka........

 

I sent them 3 requests, with the 3rd one copied to ISSA........no response......I sent them all during regular Warka banking hours...

 

I did request an accounting for any dividends and bonus shares, which may have created an issue.......over the course of time that the Warka ISX dept was dark....they either didn't keep up with it, or as corrupt as all of Iraq seems to be ......someone there intended to keep those for themselves....

 

These stock offerings had depreciated greatly.........so no problem......as long as I see the appropriate amount of IQD added to the account......I doubt I will even get a notice that it has happened......

 

With all the poor citizens of Iraq have gone through, I would love to invest to help make their world a better place.......but with all of the corruption....not a chance......

 

Probably a reason the Kuwaiti conference only raised 1/3 of what they were looking for........

 

 

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4 minutes ago, coorslite21 said:

Up until now I have had pretty good luck and communication with Warka........

 

I sent them 3 requests, with the 3rd one copied to ISSA........no response......I sent them all during regular Warka banking hours...

 

I did request an accounting for any dividends and bonus shares, which may have created an issue.......over the course of time that the Warka ISX dept was dark....they either didn't keep up with it, or as corrupt as all of Iraq seems to be ......someone there intended to keep those for themselves....

 

These stock offerings had depreciated greatly.........so no problem......as long as I see the appropriate amount of IQD added to the account......I doubt I will even get a notice that it has happened......

 

With all the poor citizens of Iraq have gone through, I would love to invest to help make their world a better place.......but with all of the corruption....not a chance......

 

Probably a reason the Kuwaiti conference only raised 1/3 of what they were looking for........

 

 

Back over the summer I emailed Mr. Issa and inquired about shares and dividends. After no response to the questions I felt like it was time for a change. If you consider the number of ISX holders through Warka that have remained in proxy and really like me who had stocks in our good name where have these dividends been going? At least Karmal emailed me back today and said my cash dividends were going to my account ( which I can see online). 

 

Bank of Baghdad (BBOB) decided to distribute 7% cash dividend (IQD0.07 dividend per share.)


National for Tourist Investment (HNTI)  decided to distribute 11% cash dividend

 

United Bank (BUND) will distribute 2% cash dividend (IQD0.02 dividend per share

 

To date I have not received any cash dividends for a stock company. Can you help explain? 

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