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Warka Bank Stock Trading Halt

Phoenix

By Phoenix,
in Warka and Iraqi Banking

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Phoenix Newbie

Phoenix

Posted
Posted

From reading on the ISX page it appears that there has been a Trading Halt on all shares of Warka Bank on the ISX

If so....when did the trading halt go into effect on all sales of Warka Bank stock on the ISX?

And when the trading halt took effect what was the statement put out by Warka Bank on the trading halt?

Was a statement put out by the ISX on the trade halt?

This should have been a major red flag to all Warka customers...trading halts are bad news.

This is how stock loses all value...it is placed on Trading Halt and they never allow it to trade again and all money in the stock is locked in and no one can get it back......ever.

Phoenix

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retep2010 Newbie

retep2010

Posted
Posted

From reading on the ISX page it appears that there has been a Trading Halt on all shares of Warka Bank on the ISX

If so....when did the trading halt go into effect on all sales of Warka Bank stock on the ISX?

And when the trading halt took effect what was the statement put out by Warka Bank on the trading halt?

Was a statement put out by the ISX on the trade halt?

This should have been a major red flag to all Warka customers...trading halts are bad news.

This is how stock loses all value...it is placed on Trading Halt and they never allow it to trade again and all money in the stock is locked in and no one can get it back......ever.

Phoenix

Where is the link please provide Link ...... thanks for the post ...

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Puff Newbie

Puff

Posted
Posted

From reading on the ISX page it appears that there has been a Trading Halt on all shares of Warka Bank on the ISX

If so....when did the trading halt go into effect on all sales of Warka Bank stock on the ISX?

And when the trading halt took effect what was the statement put out by Warka Bank on the trading halt?

Was a statement put out by the ISX on the trade halt?

This should have been a major red flag to all Warka customers...trading halts are bad news.

This is how stock loses all value...it is placed on Trading Halt and they never allow it to trade again and all money in the stock is locked in and no one can get it back......ever.

Phoenix

Phoenix, Warka has not traded stock for a some time but a lot of stock are not selling now...It's my money and I think it will be ok...GOD BLESS YOU FOR YOUR CONCERN NOW!

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Phoenix Newbie

Phoenix

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Phoenix, Warka has not traded stock for a some time but a lot of stock are not selling now...It's my money and I think it will be ok...GOD BLESS YOU FOR YOUR CONCERN NOW!

Quote: "It's my money and I think I will be ok"

Actually if you bought Warka stock that statement is not true.

Why?

Let me explain.

1. You sent your US Dollars to Warka Bank.

2. You converted your US Dollars to Iraqi Dinars. At that point you no longer have those US Dollars...they are gone.

3. You then bought Warka Bank stock on the ISX with those Iraqi Dinars. At that point your Iraqi Dinars are gone...you spent them to buy Warka Bank stock so you no longer have those Iraqi Dinars...they are gone.

4. So your US Dollars are gone...and now your Iraqi Dinars are also gone...you spent them....so what WAS your money...now belongs to Warka.

5. You now own stock in Warka Bank and IF and when this stock you now own ever again trades you then may be able to sell your Warka Bank stock for Iraqi Dinars..... IF there is someone willing to buy them but until that time you own something that you cannot even sell.

So no...it is not your money...your money is gone...you spent that money on something that as of right now cannot even be sold.

Best of luck

Phoenix

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mike032588 Newbie

mike032588

Posted
Posted

Boy I hate this for all the people that are in that investment..... hoping they can get it all worked OUT....

Your all dead wrong Warka is 100% FINE and this is all rumors... STOP BASHING THEM... There was NO TRADING HOLD PHOENIX... where do you get your info? Do you just make it up?... Here from the Source ... As a matter of fact they are expanding and looking for a partner..

Our bank is opened to make things short and simple yesterday our Managing Director Mr. Al-Samarai held a press conference in the presence of the Ministry of Finance and CBI where all the heavy Media and Press attended putting an end to all the rumors that are circulating either from incorrect reports of the Media and or ill competitors where he confirmed the support of the CBI as well displaying and discussing our strong assets, finances, investments confirming that we are the largest private bank in the country.

Also today several leading Iraqi news stations such as the Rasheed announced that the rumors being circulated about Warka Bank is a cheap shot by ill competitors to attract business to their enterprises.

On a different note in regards to our capital increase there is potential foreign enterprise that is interested in partnering with Warka Bank details of this matter will be posted on our website once negotiations have been completed and the agreement has been made official which will bring great incentive not only to the bank but increase the value of Warka stock bringing good profit to shareholders.

Best regards,

Mohammad

Quote: "It's my money and I think I will be ok"

Actually if you bought Warka stock that statement is not true.

Why?

Let me explain.

1. You sent your US Dollars to Warka Bank.

2. You converted your US Dollars to Iraqi Dinars. At that point you no longer have those US Dollars...they are gone.

3. You then bought Warka Bank stock on the ISX with those Iraqi Dinars. At that point your Iraqi Dinars are gone...you spent them to buy Warka Bank stock so you no longer have those Iraqi Dinars...they are gone.

4. So your US Dollars are gone...and now your Iraqi Dinars are also gone...you spent them....so what WAS your money...now belongs to Warka.

5. You now own stock in Warka Bank and IF and when this stock you now own ever again trades you then may be able to sell your Warka Bank stock for Iraqi Dinars..... IF there is someone willing to buy them but until that time you own something that you cannot even sell.

So no...it is not your money...your money is gone...you spent that money on something that as of right now cannot even be sold.

Best of luck

Phoenix

What kind of BS are you spreading... The stock is off the trading floor because they are increesing their capitall... I sold Warka banks stock MANY times... Converted the IQD back to USD and wired it back... so check your facts before bashing and making investors feel as if they "Lost their money" And you claim to know the date and rate for an RV... please your full of it... you are prob a dealer and are trying to get people away from investing in stocks so they can buy your dinar... please.. give me a break..

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keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

this thread just took a turn for the worse.....take cover...

I hear the fireworks starting :lol::lol: I believe Phoenix as well as myself are just trying to make people aware of the situation at hand.....no matter how bad Warka is doing and how close they could be from hitting rock bottom there job is to control customer relations and assure them that everything is fine so there is no mass hysteria and everyone pull out of Warka which WOULD put them out completely.....NO buisness is going to warn customers they are about to lose everything.......NONE whatsoever.....we are just trying to bring awareness to the table that things are not looking so good for them and to be prepared for the worse if things take a wrong turn.....the iraqi govt pulling out BILLIONS of dollars from a bank is NOT going to help buisness transactions no matter how you look at it.........

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mike032588 Newbie

mike032588

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Posted

I hear the fireworks starting :lol::lol: I believe Phoenix as well as myself are just trying to make people aware of the situation at hand.....no matter how bad Warka is doing and how close they could be from hitting rock bottom there job is to control customer relations and assure them that everything is fine so there is no mass hysteria and everyone pull out of Warka which WOULD put them out completely.....NO buisness is going to warn customers they are about to lose everything.......NONE whatsoever.....we are just trying to bring awareness to the table that things are not looking so good for them and to be prepared for the worse if things take a wrong turn.....the iraqi govt pulling out BILLIONS of dollars from a bank is NOT going to help buisness transactions no matter how you look at it.........

THEY WERE ALL RUMORSS!!!!!!!!!! WARKA IS 100% OK!!!

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Puff Newbie

Puff

Posted
Posted (edited)

Quote: "It's my money and I think I will be ok"

Actually if you bought Warka stock that statement is not true.

Why?

Let me explain.

1. You sent your US Dollars to Warka Bank.

2. You converted your US Dollars to Iraqi Dinars. At that point you no longer have those US Dollars...they are gone.

3. You then bought Warka Bank stock on the ISX with those Iraqi Dinars. At that point your Iraqi Dinars are gone...you spent them to buy Warka Bank stock so you no longer have those Iraqi Dinars...they are gone.

4. So your US Dollars are gone...and now your Iraqi Dinars are also gone...you spent them....so what WAS your money...now belongs to Warka.

5. You now own stock in Warka Bank and IF and when this stock you now own ever again trades you then may be able to sell your Warka Bank stock for Iraqi Dinars..... IF there is someone willing to buy them but until that time you own something that you cannot even sell.

So no...it is not your money...your money is gone...you spent that money on something that as of right now cannot even be sold.

Best of luck

Phoenix

Phoenix, It is true as far as you and I really Know. You see you are just going by Iraqi News we all know what that means, now don't we. There is more new's than just that the Warka Bank is closed, They say they are not, and the other new about all the billions, people over there have withdrawn, any bank would shut the door so they could recouple from that...but only until they get it under control. It happen to me before and I still got my money, and remember Warka is the Biggest privet bank in Iraqi... CBI would not want any Bank that big to go under, they have to much to loose to let that happen, I am totally not worried.

Oh, yes I tried to buy Warka stock in about June 2010, they were not selling back then....also Kurdistan Bank, they are not selling.

I don't want my money back untill it RV,s then I promise you I will let you know how much I made on this deal.

Edited by Reba Johnson
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truckerron49 Newbie

truckerron49

Posted
Posted

Mike, you have not been here long enough to say anyone is full of anything.. That is the first order of business here. That would not fly in any board room. YOU ARE FIRED. Now, I would like to point out that all the rumors are in fact true. and that if you are not worried then you new to just keep your head in the sand.. First of all there has been a run on the bank and it all started when the bank inadvertently announced that it was looking for a partner. Looking for a partner when in high finance is something that should always be done only in the strictest of confidence. Never for the public to know. why you ask? Because it causes uncertainty and loss of faith in the financial strength of the bank. When you couple this with the government withdrawing their financial support, you have now created a monster problem that has ruined many banks all over this world. And please, do not let the size of the bank fool you. As you have been reading from the infamous Rudy and also Scooter, it does not require that much capitol to be deeply in debt to the IMF or the obi. It is your choice to be scared of this investment or to just suck it up and see how it all comes together. BUT, the meanness and name calling will have to stop. WE are all in this together to the end. Lets try to focus on the common goal here.. Thanks and this is just the opinion of myself , thought out on the last bar stool in the back of the room.... B)

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machcobra Newbie

machcobra

Posted
Posted (edited)

Phoenix, I hope you are wrong for the sake of those who have Warka accounts, I do not. That being said, what you said about halts not ever trading again is wrong, or should I say partially wrong. Not always do they not start trading again, as stocks that are halted often start trading again.

I will say, I don't like seeing this either but I won't sit here and tell people they lost their money in their warka accounts without proof!

For those of you with warka accounts, good luck and may Adams CC tonight shed some much needed light on this subject.

From reading on the ISX page it appears that there has been a Trading Halt on all shares of Warka Bank on the ISX

If so....when did the trading halt go into effect on all sales of Warka Bank stock on the ISX?

And when the trading halt took effect what was the statement put out by Warka Bank on the trading halt?

Was a statement put out by the ISX on the trade halt?

This should have been a major red flag to all Warka customers...trading halts are bad news.

This is how stock loses all value...it is placed on Trading Halt and they never allow it to trade again and all money in the stock is locked in and no one can get it back......ever.

Phoenix

Edited by machcobra
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quadraph0nic Newbie

quadraph0nic

Posted
Posted (edited)

Dude if you bought any dinar guess what? your dollars could go at anytime! You have no guarantees! LOL That was rule#1 for me when I got into this again! :lol:

I'm going to say is that anything is possible and it doesn't matter how your invested because there are caveats everywhere. Don't think they are not...:D

Mmmm....Lots of bad juju going around this forum. Someone had said there would be days like this! I hope it means it going to RV soon!! :lol:

So do any of you guys have a suggestion on who I should buy my dinar from if i ever decide to withdraw the warka part of my investment out? :D

Edited by quadraph0nic
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mike032588 Newbie

mike032588

Posted
Posted

Mike, you have not been here long enough to say anyone is full of anything.. That is the first order of business here. That would not fly in any board room. YOU ARE FIRED. Now, I would like to point out that all the rumors are in fact true. and that if you are not worried then you new to just keep your head in the sand.. First of all there has been a run on the bank and it all started when the bank inadvertently announced that it was looking for a partner. Looking for a partner when in high finance is something that should always be done only in the strictest of confidence. Never for the public to know. why you ask? Because it causes uncertainty and loss of faith in the financial strength of the bank. When you couple this with the government withdrawing their financial support, you have now created a monster problem that has ruined many banks all over this world. And please, do not let the size of the bank fool you. As you have been reading from the infamous Rudy and also Scooter, it does not require that much capitol to be deeply in debt to the IMF or the obi. It is your choice to be scared of this investment or to just suck it up and see how it all comes together. BUT, the meanness and name calling will have to stop. WE are all in this together to the end. Lets try to focus on the common goal here.. Thanks and this is just the opinion of myself , thought out on the last bar stool in the back of the room.... B)

I am a member of the IIF since 2005 and i could careless what you just said... IT IS ALL RUMORS ABOUT WARKA BANK!!! Nothing is TRUEEEEEEEEEEEEEEEEEEEEEEEEEEEE email them and find out for yourself... They are 100%.... they are the largest bank in Iraq.. obviously they are trying to discredit them... as far as my spelling goes...

i fnid ti fnnuy taht i cna sepll erveytihng worng hrer adn yuo cna sitll raed ti..... teh mnid si a vrey pwoerflul tinhg ...

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Stevarino Newbie

Stevarino

Posted
Posted (edited)

From reading on the ISX page it appears that there has been a Trading Halt on all shares of Warka Bank on the ISX

If so....when did the trading halt go into effect on all sales of Warka Bank stock on the ISX?

And when the trading halt took effect what was the statement put out by Warka Bank on the trading halt?

Was a statement put out by the ISX on the trade halt?

This should have been a major red flag to all Warka customers...trading halts are bad news.

This is how stock loses all value...it is placed on Trading Halt and they never allow it to trade again and all money in the stock is locked in and no one can get it back......ever.

Phoenix

I thought they were de-listed from the ISX a number of months ago because they didn't send in their quarterly reports on time!

Edited by Stevarino
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truckerron49 Newbie

truckerron49

Posted
Posted

I am a member of the IIF since 2005 and i could careless what you just said... IT IS ALL RUMORS ABOUT WARKA BANK!!! Nothing is TRUEEEEEEEEEEEEEEEEEEEEEEEEEEEE email them and find out for yourself... They are 100%.... they are the largest bank in Iraq.. obviously they are trying to discredit them... as far as my spelling goes...

i fnid ti fnnuy taht i cna sepll erveytihng worng hrer adn yuo cna sitll raed ti..... teh mnid si a vrey pwoerflul tinhg ...

[/quote

Mike, I did not call you a liar. In fact, I stated that this is unnecessary. Personally, I don't care what Warka does, other than it bothers me that so many good people good be hurt in some way. Also I don't care if you have been a Boy Scout since you six. Bad things happen and especially in the financial world. Stick your head in the send if you wish but I would advice you to look around and see what is going on. and not just on this site either. People here will try to help you. Do you really think that these emails that are being posted from someone supposedly in the Warka system would tell you something negative?? Come on you know better.. Get a grip.. I personally hope for you and for others that you are correct, especially as it will not cost me nor profit me in any manner..

Good luck to you, Remember to breathe in and breathe out.... WE are all equal in our needs and desires for this to end in a fortuitous manner. B)

OBTW, I could care less about you ability to spell or punctuate.

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keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

I am a member of the IIF since 2005 and i could careless what you just said... IT IS ALL RUMORS ABOUT WARKA BANK!!! Nothing is TRUEEEEEEEEEEEEEEEEEEEEEEEEEEEE email them and find out for yourself... They are 100%.... they are the largest bank in Iraq.. obviously they are trying to discredit them... as far as my spelling goes...

i fnid ti fnnuy taht i cna sepll erveytihng worng hrer adn yuo cna sitll raed ti..... teh mnid si a vrey pwoerflul tinhg ...

Your missing my point totally......buisnesses and corporations will NEVER tell their customers that they are in financial troubles.....NEVER.....you could have called Enron and wrote multiple emails right before they went under and they would have told you the sky is purple just to keep your confidence in them and so that they didnt lose you or your money (knowing they couldnt give it back to you) They do not release information like that until its final and things are in writing......Warka could be getting ready to take all your money tommorow and you could write them today and they would tell you that everything is fine.....and as far as all the articles on warka....I highly doubt every single one of them over the YEARS is just been completely made up....I doubt the fact that the govt of Iraq pulled out almost 2 BILLION dollars was made up either.....these things are just pulled out of thin air, they have some kind of validity to them......things are going on that we dont know 100% about but I can tell you things are not looking good with all the commotion surrounding them.....if you have an account with them and refuse to believe anything then you can only blame yourself when sh*t hits the fan and you are left with nothing.....

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Stevarino Newbie

Stevarino

Posted
Posted (edited)

I heard it said a few places that the CBI was trying to put some of the Private Banks and "Money Changers" out of Business. Do you think this is one of them? Maybe that is why the CBI rate and street rate is the same now ? I remember our Fed Reserve put Lehman Brothers and a lot of Banks out of business just last year!

Edited by Stevarino
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Stevarino Newbie

Stevarino

Posted
Posted

I am a member of the IIF since 2005 and i could careless what you just said... IT IS ALL RUMORS ABOUT WARKA BANK!!! Nothing is TRUEEEEEEEEEEEEEEEEEEEEEEEEEEEE email them and find out for yourself... They are 100%.... they are the largest bank in Iraq.. obviously they are trying to discredit them... as far as my spelling goes...

i fnid ti fnnuy taht i cna sepll erveytihng worng hrer adn yuo cna sitll raed ti..... teh mnid si a vrey pwoerflul tinhg ...

Belonging to IIF is a joke!! Those Clowns roped you into this scam!! Live and Learn!!
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Phoenix Newbie

Phoenix

Posted
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Posted (edited)

THEY WERE ALL RUMORSS!!!!!!!!!! WARKA IS 100% OK!!!

Rumors?

Not quite dude this is straight from the latest news from Warka Bank themselves:

Quote: "

"problems due to a recent decision of the Iraqi government to withdraw over $1.6 billion from the bank"

and....

"Mohammed said following the government’s decision, the Iraqi Public Vehicle Company withdrew around $680 million from the bank, and citizens withdrew around $1 billion."

Link to Warka statement admitting the 3.2 billion dollar bank run: http://www.iraq-businessnews.com/2010/09/20/has-warka-bank-collapsed/

1.6 billion + 680 million + 1 billion = a total loss of 3.2 Billion dollars!

That is nothing short of a MAJOR Bank run!

And THAT information is right from Warka themselves!

PLUS add to this that it appears that Warka Bank stock was placed under a Trading Halt on the ISX.

And IF the Trading Halt is due to them trying to raise capital then they just added a 3.2 Billion dollar loss to regain so how long do you think it will be until they regain all of the lost capital?

Do not forget the CBI has stopped all dealings with Warka bank!~

Kind of hard to gain capital if the CBI has shut the door!

MAJOR Bank run (3.2 Billion dollars) + all dealings with CBI stopped + Trading Halt = pending bank failure?

Best of luck to Warka clients

Phoenix

Edited by Phoenix
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