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phlip

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  1. For at least the last 6 weeks I have been unable to access my Warka account because every time I attempted to log on using Warka’s own Online Banking Link I got an error message from my browser telling me the connection was not secure. Sometimes in the past when I got that message, there was a button to click on which allowed my browser to bypass the warning and connect anyway. Not this time. Apparently, Warka’s own security subscription has run out and they haven’t renewed it yet. After a month, I got tired of waiting and sent an email to Warka. No response for 2 weeks so far. Anybody else having the same problem? Here’s the email I sent: Dear Mr. Mohammad K Issa I cannot access Warka Bank’s Online Banking. Please see the attached copy of the error message I receive when I use this link: https://onlinebanking.warka-bank-iq.com/IBS/index.jsp . Has the address of Warka Bank’s Online Banking link been changed to a more secure address? I will be very grateful for any advice from the Warka Bank Staff on how to overcome this problem. Best Regards Connection is not Secure.pdf
  2. Warka expired my password early too. I sent an e-mail directly to Mohammad K Issa at ifrd@warka-bank-iq.com , with a CC to Ashraf Amr at e-bank@warka-bank-iq.com and a CC to Laith Alamir at e-bank.ms@warka-bank-iq.com I got an email answer back within 48 hours. I sent a Thank You email as a follow up.
  3. Why at this time is Warka bothering to be so pro-active on individual accounts and then at the same time decently responsive to an individual client’s urgent requests for password resets? Why not just go on as unresponsive as they have been in the last 3 – 4 years? IMO, the Warka Bank Staff can see the time coming when the CBI will successfully complete the IMF and UN required transparency tests and therefore be able to start selling CD’s to the Iraqi private banking sector again; which would eventually allow Warka and all the other 30 or so Iraqi private banks to begin selling CD’s to clients, funding MasterCard Accounts, funding and trading with client ISX Accounts, maintaining Letters of Credit, etc. When that flow of funds starts happening, IMO, the next logical step would be for the possibility of first internal and then external transfer of funds. Our ability to transfer USD from our Warka Accounts to our Fed dominated local bank accounts would then depend on the Fed appointing an intermediary US bank to handle all incoming traffic from Warka. Historically, Warka’s USA Correspondent Bank has specifically been the Citibank, NA, New York, NY Branch of the Federal Reserve System. If in the near future the Fed decides that Warka Bank for Investment and Finance can be trusted to have the liquid inventory necessary to service its clients with the transfer of USD’s then perhaps Citibank, NA New York, NY may again be nominated to be Warka’s correspondent bank for the USA. Whatever the case, no correspondent bank means no USD or Euro transfers; so if a person wants to know if Warka is ready to send them some of their own mulla, my advice would be to look for a Warka correspondent bank in their area. The current list can be accessed from Warka’s website homepage. Here’s a link to Warka’s current list of correspondent banks: http://www.warka-bank.com/?427dacca3edd8203f5aceefbb3636d2efc545ea6 All of the correspondent banks listed deal with funds denominated in either USD’s or Euro’s (only) ~ including the two banks in Germany dealing in both USD’s and Euro’s. Meanwhile, right now there is not a single correspondent bank listed on either of the American Continents. Nothing for the Australian Continent and only the two German banks to handle Europe. Even though the two banks in Germany are still listed as Warka correspondent banks, I’m fairly certain that Warka is still not allowing either USD or Euro transfers to either of them. All of the Iraqi private banks (including Warka and a couple of others that deal with foreign clients) are currently under cash shortage restrictions whereby they are limiting withdrawals by local Iraqi clients to only certain percentages of the entire account balances and just to be able to do that they have had to cut off foreign client’s access to funds entirely ~ for now. IMO, it’s still better than finding out that you only have 40% of what you thought you had on balance as happened in Cyprus ~ at one time one of the go to offshore account venues to consider. Also, whatever paid interest percentages have been reduced to by Warka are IMO still better than the best of what is offered in the Fed system and way better than those other banks around the globe offering negative interest on savings accounts.
  4. People around me are having the exact same problem ~ early Warka Online password expiration for no apparent reason ~ and I think it speaks to a woken up Warka Staff making sure that they are thoroughly covered security-wise in the event of fraud or unwanted manipulation of any long unused E-banking Subscriptions. I always print the page showing my new expiration date whenever I change my password or have it changed for me by Warka’s recent manipulations. That way, when Warka expires my password early, I can send an email with a pdf copy of my actual password expiration date on it attached to the transmission and I usually get service restored within 48 hours or less. I’ve had to do that twice since I started my Warka account. If you’ve been caught out with no hard proof of when your actual expiration date is supposed to be, then you might have to be fairly exacting in a brief, polite, email description of a particular problem; so that the Warka Staff can be sure it’s you and not just a hacker trying to gain access. In either case, whether you have a pdf copy of your actual password expiration date to attach to an email or not, I’ve seen similar language to the following two email examples get relatively immediate attention from Warka; especially when sent to Mr. Issa with a CC to Mr. Laith Alamir and Mr. Ashraf Amr at the same time. Send an e-mail directly to Mohammad K Issa at ifrd@warka-bank-iq.com , with a CC to Ashraf Amr at e-bank@warka-bank-iq.com and a CC to Laith Alamir at e-bank.ms@warka-bank-iq.com Make the Subject:Urgent Password Renewal Requested (or similar language) Dear Mr. Mohammed K. Issa, In trying to access my account, I get the message window that says "Your account has expired. Please contact the Bank." On DD-MM-YYYY, I requested a reset password. On DD-MM-YYYY, I received from you the 4 digit password, "XXXX." I then reset my password to my personal password "XXXXXX." My understanding is that my personal password was current for 1 year and that it should not have expired until “DD-MM-YYYY”. I am requesting, please, that my current password be renewed and I will change it to a new one upon restoration, or that a new reset password be sent to my email address. My full name on the account is Your Full Name and my full account number is 0790/0000000/001/2521/000. I am extremely grateful for your kind attention to my accounts. Respectfully, Your Full Name on Account Here’s an example if you’re prepared with a copy of your expiration date. Dear Sirs I have received the bank’s message that my password has expired. Attached to this transmission is a copy of my online Welcome Page from Warka Bank dated DD/MM/YYYY. It shows that my password should expire on DD/MM/YYYY. That is still XX days/weeks/months away from the date of this transmission. Please, kindly restore my current password or send a temporary reset password to my email address. Thank you Best Regards YOUR FULL NAME 0790/0000000/001/2521/000 Please Note: I used bold text and red font color to emphasize importance, but I don’t necessarily recommend using bold text or red font in the actual email that you send.
  5. Finally!! Some really great news from Warka!! Look at Warka Bank’s latest news bulletin published on September 6th: Dear Warka Clients, The Central Bank of Iraq board of directors have agreed to rehabilitate Warka Bank for Investment and Finance in accordance with a set get well plan. This decision has been announced and broadcasted through all Iraqi TV networks. Best regards. Warka Bank for Investment and Finance It’s anybody’s guess how long it will take before the CBI’s “set get well plan” will allow us Warka depositors to withdraw USD’s, or purchase IQD CD’s, or transfer funds between our Warka internal beneficiary accounts or trade on the ISX; but at least the CBI has finally now been publicly committed to totally fixing Warka’s banking reputation and (partial) insolvency. The CBI was ordered to do this two years ago by the Iraqi Financial Supreme Court when Warka won the lawsuit against the CBI for actually causing the Warka insolvency in the first place back in 2010. Meanwhile, Warka has been keeping the doors open in Iraq’s all cash society by reducing the interest paid for CD’s and savings accounts and by allowing local Iraqi clients to withdraw only a fixed percentage of the their account totals. In that way, Warka is no different than the other 30 or so private banks in Iraq who are also doing the exact same thing due to the local cash shortages; and also because of the continual drop in oil prices. That drop in oil prices affects us Warka account holders by way of Warka’s internal exchange rate when converting our IQD back to USD. USD’s in Iraq are getting more precious as Iraq has to pay for the ISIS war in USD’s and the CBI’s USD reserve amount shrinks to compensate. Not as many dollars to go around now; so it costs more IQD to buy USD’s. Warka’s exchange rate when converting IQD back to USD has jumped from 1179 IQD to buy 1 USD up to the current rate of 1190 IQD per USD. All in all, the CBI rehabilitating Warka Bank is great news and I’m looking forward to a time when at least some transactions can get back to normal. To add some background, I found the following article to be a pertinent reminder to all foreign depositors that Warka Bank is not the only financial outfit with liquidity problems in Iraq ~ or in the rest of the world for that matter. IMO, there’s no need to feel picked on with the Warka Customer Service level lately, because the entire Iraqi Private Banking Sector is going through the same cash shortage; and especially with its own Iraqi customers. Here’s the article and its link: Iraq’s private banking sector is having trouble meeting customers’ demands because of liquidity issues, leading to unrest and worry. Some banks are limiting withdrawals to a specific percentage of deposited funds, while others have stopped allowing them altogether. In addition, even funds originally deposited in US dollars can only be withdrawn in Iraqi dinars, according to the Central Bank’s exchange rate. Such procedures confused customers and angered many of those who deal with banks. Overall deposits in one Iraqi bank — whose name cannot be published for legal reasons — did not exceed 2.5 million Iraqi dinars (about $2,000) in an entire workweek, which is a relatively modest figure. When Al-Monitor visited this bank, its lobby was filled with scores of customers demanding their money, and the administration was refusing to allow customers to withdraw all of their funds at once. Umm Ahmad, the mother of four grown children, travels more than 300 miles every Thursday from Basra governorate to Baghdad to make withdrawals from North Bank. She began doing this after the bank stopped allowing withdrawals from its branches in various provinces and limited such transactions to its main branch in the capital. Umm Ahmad seemed stressed as she discussed her situation. She told Al-Monitor that her children need money to emigrate, so she decided to sell their house, give her children half of the proceeds and buy herself a smaller house with the remaining amount of money she had deposited in the bank’s branch in Basra. However, the bank refused to let her make the withdrawal. http://www.iraq-businessnews.com/2015/07/18/banks-refuse-to-ante-up-amid-liquidity-shortage/ US citizens tend to forget that this same universal bank reluctance to give up large amounts of depositors cash to depositors on demand is also prevalent in most US banks. Ask for most or all of your cash from any US bank and you will probably have to endure a grilling by the manager to explain why you have to have the cash instead of a cashier’s check or money order. Truth be told, only about 3% of existing USD’s are actually in Federal Reserve Notes, AKA the US version of cash. The rest is digital. A run for cash on almost any US bank could wipe that bank out or at least cause it to look insolvent. Lots of banks have already been closed in the US and their combined worth has been consolidated to where only 10 of the biggest US banks control over 77% of the wealth within the Fed system. With its massive debt burden, the Federal Reserve System makes the US not so different from Greece or Iraq. IMO, when Warka Bank in Iraq is finally “rehabilitated” up to full service and Warka’s 350 ATM machines are again available for daily use, then the IQD redenomination process (already in progress in Iraq) can start to accelerate. The present cash shortage in Iraq could partially be solved with the issuance of loaded ATM cards instead of the currently circulating large denomination banknotes ~ but only if the cash minded Iraqis will learn to accept the electronic banking system. With its USD cash reserves being used to fight ISIS, and its incoming USD revenue being reduced due to the reduction in the price per barrel, the CBI might not have any choice but to devalue the IQD in the short term in order to keep the IQD at an internationally accepted rate pegged to the USD. In any case, the CBI will be determining the rate of exchange for the IQD and also the volume of how many USD and/or new lower denomination IQD banknotes will be available to load Warka’s ATM machines. Once that base infrastructure of Warka Bank operating at full service is in place it will be far easier for the CBI to announce further progress in the coming IQD/USD rate change.
  6. Even if you have kept up with changing your password every three months for the last two years, you’ll probably get an “account expired, please contact the bank” message at any time so that Warka can re-set your password expiration date out to a year from now. We’ve been sending emails to Ashraf Amr at [email protected]<script cf-hash='f9e31' type="text/javascript"> /* */</script> for years without ever getting a response back. Instead, let’s try sending emails directly to Laith Alamir at [email protected]since that is the guy from the Warka E-banking Department that always responds to Mohammad K Issa from the International Foreign Relations Department at [email protected] Step One ~ send an e-mail directly to Mohammad K Issa at [email protected], with a CC to Laith Alamir at [email protected] Nothing seems guaranteed to work; but at the same time, the shorter the message the better seems to be Warka staff’s preference to answer. Below, are some versions of an email with possible Subject Titles like: Online Access Renewal or Reset Password Request or Reset Password Required … Just copy and paste whichever version you like best. One Dear Mr. Mohammad K. Issa My E-banking Subscription has expired and I’ve had problems changing my previous password. I’m requesting, please, that a reset password be sent to my email address so that I log in to my accounts again. I am extremely grateful for your help with this matter. Thank you for your kind attention to my accounts. Respectfully yours, Your Full Name 0790/0000000/001/2521/000 Two Dear Mr. Mohammad K. Issa: I can no longer use my Warka login password. I would like to request that a reset password to my email address so that I might be able to log in to my account again. I apologize for any inconvenience that this request might cause to your schedule and I will be extremely grateful for any help you are able to give me in this matter. Thank you very much. Warmest Regards, Your Full Name 0790/0000000/001/2521/000 Three Dear Mr. Mohammad K Issa: My E-banking Subscription has expired and I now have problems using my password. I would very much like to login to my account again. At your earliest convenience, I would like to request, please, that a reset password be sent to my email address, so that I may use it to login and change it to my own password. I apologize for any inconvenience at all that this request might cause to your busy schedule and I am extremely grateful for any help you are able to give me in this matter. Thank you very much for your time. Respectfully and with Warmest Regards, Your Full Name 0790/0000000/001/2521/000 Four Subject: Password Reset Dear Mr. Mohammad K Issa, I would like to request that a reset password for my Warka Savings Account be sent to my email address. I have not been able to view my account for some time due to password problems. Thank you. Your Full Name 0790/0000000/001/2521/000 The key to progress in getting an answer back from Warka is that as you attempt to log-in every day, eventually the message will change from “account expired, please contact the bank” to “wrong password”. When that happens you’ll know that Warka has stepped in and switched off your old password and is getting ready to furnish you with another one. Look for the email with a new password within a week or so.
  7. Since the Warka log-in page has been repaired and now functions properly, I was able to log in to my Warka Account using the temporary password that Laith Alamir of Warka’s E-banking Department sent to Mohammad K Issa who sent it to me. I immediately printed that 1st Homepage to my Warka Accounts because it clearly shows that last date that I logged in to my account, plus my new password expiration date. Then I clicked on Inquiries so that I could click on the Internet Statement button. I viewed and printed a statement for both my IQD and my USD account showing all activity over the past 40 days. IQD interest came in at 2.5% for 6 months, giving an expected Annual Compounded Net of 5% USD interest came in at 1.0% for 6 months, giving an expected Annual Compounded Net of 2% Since we still can’t move excess dollars into our IQD accounts under the Wire Transfers option (which is usually a button under the Inquiries button), I felt that printing those pages was the best I could do to verify the accounts now as still being active. I clicked on Maintain Clients Information and changed my temporary Warka issued password back to my own and logged out. Have logged in several times since ~ just for drill. I certainly noticed that my new password expiration date is a year away now, instead of just 3 months like it has been lately and I'm happy about that. Of course, I can change it any time and get another year later expiration date, but I like that I don’t have to for at least a year if things turn out that way.
  8. Can’t Quite Use My New Password From Warka ~ Yet. Have you been able to confirm that 6 months interest has been deposited to your Warka Accounts? My latest Warka password was due to expire on June 23rd, so on June 21st I logged in to my account, changed the password to a new one and logged out. When I logged in again to validate the new password, I made sure to print my Warka Homepage, which clearly shows that my next password expiration date will be September 21st. On June 29th I attempted to log in to my accounts to check if any interest had been deposited early, but I was unable to; and instead got that same message everybody else seems to be getting nowadays from Warka: “account expired, please contact the bank”. On July 4th I sent an e-mail to Mr. Issa requesting his help in re-setting my password back to what I recently changed it to in order to get this latest September 21st expiration date. I marked the 9/21/15 date on my printed Warka Homepage with red ink, scanned it into a pdf file and attached it to the email I sent to Mr. Issa just to be sure there was no doubt that my account had expired 3 months earlier than it was supposed to. I also CC’d that same email, along with the pdf attachment, to Ashraf Amr in Warka’s E-banking Department ~ as per the protocol requested on the Warka website. Since June 29th I’ve attempted to log in everyday, but kept getting that same “account expired” message ~ until July 6th. On July 6th, when I tried to log in to see if Mr. Issa had done anything about my password without telling me about it, I got the message that said “wrong password”. So, now my latest (valid) password and any previous passwords no longer worked ~ even just to log in temporarily long enough to change to an even newer password. It’s as if I never had a password at all, and I became completely at the mercy of Warka Bank Staff answering my e-mails (or not) when I asked for a reset password. The anxiety about whether or not I was ever going to get an answer to my email will, unfortunately, always be a little bit there; but to have a proven password go from providing valid access, to getting the message “account has expired, please contact the bank” to getting the message “wrong password” in just 2 short weeks was even more disconcerting. It’s especially curious that this should happen for no apparent reason just as our 6 months of compounded interest is due. Despite coming from a position of having positive proof (via a time dated hard copy printed page showing that I had indeed complied with renewing my password inside of the 3 month time limit), I still seem to have to undergo what feels like a random security check by Warka to keep the onus of re-confirming who I am on me. It also feels like I have to keep proving to Warka that I’m still interested enough in the savings account amounts (plus the continually compounded interest being deposited) to keep chasing my only access to those funds by way of an active password. Whatever the case, I’m certainly not going to give up on that dough, which I’ve tried to help grow with fairly significant Certificates of Deposit ~ when those were still available. In the past, I’ve experienced the ability to wire funds to and from Warka; along with a relatively robust net growth from the CD’s and I’m not ready to abandon that same offshore account possibility becoming a reality again. Not yet, anyway. On July 9th I got a reply email with my new temporary password from Laith Alamir in Warka’s E-banking Department only 5 business days after emailing the original request. Note: use (e-bank.ms) instead of just (e-bank) for his Warka email address. From the connected e-mail chain I received, I can see that Mr. Issa simply forwarded my 1st email to Laith Alamir (with a CC to me); and then, Laith Alamir designated a new online password for me and replied back to Mr. Issa’s email with it. Mr. Issa then replied back to my 1st email with the whole chain attached; including my new (temporary) online password. Of course, I immediately tried to log in to use the temporary password that Laith Alamir sent me in order to change back to my own password and to check my interest deposits; and of course, the Warka online access first page was just being revised and didn’t work enough to get me properly to the next step in the log-in security process. The revision Warka is doing seems to be that they are trying to provide the General Security Disclaimer (the first page that everyone comes to at the very start of the on line security protocol for logging in to a Warka account) in both English and Arabic; instead of just in Arabic. I guess I’ll just have to wait until they are finished with their latest on–line access revision before I can actually get in there, change my password and verify that my accounts have grown another 3% over the last six months. I wonder how many Warka account holders have experienced this same untimely message routine just recently. I wonder how many Warka account holders have been able to access their accounts at any time after June 30th 2015 and have also actually witnessed 6 months’ worth of interest being deposited ~ just like last year at this time and just like six months ago. IMO, it seems as though that right now sharing (detailed) knowledge on how to get a reset password from Warka is one of the most important things to consider to help any and all Warka Account holders; especially because there doesn’t seem to be any legitimate reason/cause for suddenly getting locked out of a Warka Account. It can happen any time to anyone. Below is the English translation of the General Security Disclaimer on the very first page of the current Warka online security protocol. You’re supposed to read it and then click that you agree with the disclaimer before being allowed to proceed to the 2nd page of the current Warka online security protocol ~ which asks for Client ID and a repeat of an encrypted 4 digit code being displayed. That page currently doesn’t display the encrypted 4 digit code; and so, just at the time I tried to log-in I couldn’t quite proceed with the process. Gee, what are the chances, eh? Warka’s General Security Disclaimer sounds pretty standard for all online accounts nowadays, including foreign, but IMO it still pays to periodically review standard banking security protocol which is certainly expected of grown-ups managing legitimate overseas accounts on line. Anyway, here it is: In addition to the strict security measures our Internet Banking Service applies, you have a critical role to play in protecting the privacy of your account information and safeguarding your money. We wish to draw your attention to the following tips to ensure utmost privacy and confidentiality of your online Banking experience. Select a user name and password that are difficult for others to guess. Do not associate your password with anything personal such as birthdays, names, phone numbers or other familiar words or numbers. Choose password that contains letters, numbers and special characters. Change your password on a regular basis. Keep your personal and / or banking information (e.g. User name, password, Credit card number,... etc) confidential. Your PIN / Password should be memorized and not recorded anywhere. Avoid accessing Internet Banking Service from Internet Cafes or public places. You should always be careful when receiving unsolicited emails asking you to disclose any personal or banking details. Warka Bank will never ask you for such details (e.g. User name, password, Credit card number,... etc) through email. If you receive such a request, do not respond and please report it to us immediately. To access Warka Bank Internet Banking Service, use the Logon button on the homepage. Never follow a link received by email to access the Internet Banking Service. Whenever you log on to Internet Banking, verify the last access date & time displayed at the left corner on the top of the page. Always remember to log out using the "Log Off" and never leave the PC unattended when logged on. When logging on to Warka Bank Internet Banking site, look for the Security Certificate before entering the User name & Password. To view the security certificate, click on the "lock" icon at the bottom of the page if you are using Internet Explorer. For Netscape browser users, you can view the certificate by selecting Security Info under Communicator - Tools. Check your account balances and statements regularly to ensure your accounts have not been accessed by anyone else and to identify any unusual transactions. Beware of emails offering you the chance to make easy money in exchange of services & / or using your account to transfer large amounts to. Do business only with companies / individuals you know and trust. This is not a comprehensive list of security measures, it is an advisory note issued to increase your security awareness without any liability whatsoever on the Bank. Hopefully, when I’m able to log in again, the new password will still be valid and I’ll be back in business without a hitch, but only time will tell. All in all I’m certainly gratified to get a responsible, timely email reply back from Warka; especially when I’ve put in a legitimate request. As anyone with a Warka account can testify, it doesn’t always turn out that way.
  9. I’ve been sending emails to Ashraf Amr at e-bank@warka-bank-iq.com for years without ever getting a response back. Maybe by sending emails directly to Laith Alamir at e-bank.ms@warka-bank-iq.com I would have had a better experience. I just retrieved this comment (directly below) from a forum at Dinar Vets and it shows a simplistic approach to trying to restore a password in order to access a Warka Savings Account on-line: Hello All Please see my latest response from Warka regarding my online account. I sent an e-mail to the e-bank 2 weeks prior with no response...so I sent one to Mohammad Issa directly and this response came right away. I have since sent some e-mails that I have not gotten a reply. I have not sent the funds withdrawal authorization form in years. I just send them an e-mail and they give me access...no funds withdrawn that I can tell...although their online banking is rather vague. I don't know if any of you have/had stocks through Warka Bank or not. Before they were shown in my online banking, but not anymore...This makes me wonder if I still own stocks or not. This is what I have not been able to get an answer on yet... Anyway, please notice the address below from laith alamir...if you have not tried this one, you might try it directly. I hope this helps! From: laith alamir <[email protected]> Date: Tue, 9 Sep 2014 11:21:15 +0300 To: Mohammad Kamal <[email protected]> Subject: RE: Online access renewal Dear Sir, The new online password is: **** Please note that the online link is: https://onlinebanking.warka-bank-iq.com/IBS/index.jsp For any further questions or inquiries regarding your online account please have the client contact the e-banking team [email protected]and we will provide our full cooperation and support. E-banking Department Warka Bank for Investment and Finance Whatever the case, it certainly appears that all communications with Warka are definitely not dead yet. Below, you can see a few versions of a similar reset password request that could be tweaked to contain your own personal information and then sent to Warka. Perhaps, anybody still needing a password from Warka might try the following method ~ or some original version that might get the job done. Step One ~ send an email directly to [email protected] just as all the standard messages from Warka and from Warka’s website encourage us to do. No CC to anybody. Wait about (2) weeks for any response but, at the same time, try not to expect a direct response from Warka e-banking because to my knowledge, it’s never happened. Step Two ~ send an e-mail directly to Laith Alamir at [email protected] with a CC to [email protected] . Wait about one week for a response. Step Three ~ send an e-mail directly to Mohammad Issa at ifrd@warka-bank-iq.com with a CC to both E-bank and Laith at [email protected] and [email protected]~ or some such similar version of events that gets the job done. Nothing seems guaranteed to work; but at the same time, the shorter the message the better seems to be Warka staff’s preference to answer. Here are some versions of an email with possible Subject Titles like: Online Access Renewal or Reset Password Request or something like that. One Dear Sirs: My E-banking Subscription has expired and I’ve had problems changing my previous password. Please, send a reset password to my email address so that I log in to my account. I apologize for any inconvenience at all that this request might cause to your busy schedule and I will be extremely grateful for any help you are able to give me in this matter. Thank you very much for your time. Respectfully, Your Full Name 0790/0000000/001/2521/000 Two Dear Sirs: I can no longer use my Warka login password. Please, send a reset password to my email address so that I log in to my account. I apologize for any inconvenience that this request might cause to your schedule and I will be extremely grateful for any help you are able to give me in this matter. Thank you very much. Warmest Regards, Your Full Name 0790/0000000/001/2521/000 Three Dear Mr. Issa: My E-banking Subscription has expired and I now have problems using my password. I would very much like to login to my account again. At your earliest convenience, please ask your Warka E-banking Department to send a reset password to my email address, so that I may use it to login and change it to my own password. I apologize for any inconvenience at all that this request might cause to your busy schedule and I am extremely grateful for any help you are able to give me in this matter. Thank you very much for your time. Respectfully and with Warmest Regards, Your Full Name 0790/0000000/001/2521/000 Four Password Reset Dear Sir, I would like to request that a reset password for my Warka Savings Account be sent to my email address. I have not been able to view my account for some time due to password problems. Thank you. Your Full Name 0790/0000000/001/2521/000
  10. Adam, it seems to me that yendor asked an excellent question and as a follow up I would like to point out that before there can be any sudden, unannounced, significant RV of the IQD, the CBI will have to have a solid sustainable electronic banking network already in place with cards and ATM machines; and if that is true, then that would definitely have to include Warka Bank with its (largest in Iraq) footprint of 120 branches and 350 ATM machines. The CBI have already stopped the daily auctions in favor of electronic banking so my question is do you agree or disagree that Warka Bank should first be restored to full daily operations before a significant IQD RV can fully succeed?
  11. IQD 5 Trillion against US$440 billion is an exchange rate of 1:1136 or US$0.0008802 per IQD 1 or US$880.20 per IQD Million. That rate is appreciatively stronger against the USD by (1166 – 1136) / 1166. That’s an uptick of approximately 2.57% and might very well be the new rate displayed soon on the CBI home page.
  12. TPSprayduster I really doubt if your IQD300K (US$257.29) is gone or lost. Whenever Warka gets up and running again you can internally transfer the 300K back to IQD Savings and close the current/checking account in favor of a pre-paid MasterCard or some other (wire transfer) vehicle for recovering USD.
  13. ReinMan IMO, that list of reasons you posted for a CBI initiated, overnight, history breaking, substantial upward RV of the IQD not to happen against the Euro and the USD seems only to be getting longer. It seems to be easy to make excuses for such an RV to be delayed. Meanwhile, the widely perceived global, mass media influenced, 3rd dimensional space/time continuum marches onward; and Iraq continues to outwardly attempt enough operational financial transparency with the UN, the IMF and the World Bank, that they still continue receiving help with ISIS from the various Multi-National Oil Companies’ Home Countries. The scrutiny of the GOI and the CBI by outside governments and foreign intelligence agencies will continue and only increase as available local technology improves. Neither the CBI nor any element of the GOI will be able to do anything untoward (as far as the international community sees it) regarding the Iraqi Military or Iraqi Financial Dominance by way of an overnight currency revalue without every neighbor and global news agency becoming aware of it within 48 hours prior to it happening. The point being that all the elected and the appointed officials in Iraq are fully aware of this international coverage as well as all the local tribal/religious pressures that they have to contend with on a daily basis. I don’t anticipate any fiat currency declaration out of the CBI which hasn’t been approved behind the scenes with at least the local regional neighbors and/or Iraq’s International Strategic Trading Partners.
  14. TPSprayduster I’m assuming that your current/checking account balance is valued in USD so that you can write a check in USD. It wouldn’t make much sense to have a current/checking account valued in IQD unless you lived in Iraq. Warka still has not been allowed to renew its Correspondent Bank agreement with Citibank NA, NY, NY because the Fed has not yet given its permission to do so. My guess is that diplomatically, Central Bank to Central Bank, the Fed is publicly honoring the CBI (temporary) restrictions on Warka ~ just to get along. If true, this would account for the complete lack of any Warka Correspondent Banks on the entire American Continent ~ north and south. Without those correspondent/intermediary banks the importation of USD into the Fed system whether by wire transfer, or by written check, or by plastic card just isn’t on ~ verboten. No outgoing USD to foreign depositors/clients until the CBI pays up and fixes Warka’s reputation.
  15. Caper There is a Commerzbank AG Branch in New York, NY. The contact info is: Commerzbank AG New York Branch 225 Liberty Street New York, NY 10281-1050 USA Telephone: +1 212 266 7200 Fax: +1 212 266 7235 Website: www.commerzbank.us This New York Branch is the only Commerzbank AG, Germany “correspondent bank” on the entire North American Continent and is meant to serve both US and Canadian clients. Whether or not Commerzbank AG, New York Branch is allowed to receive international USD wire transfers from either Germany or Iraq and then send USD wire transfers to any other US or Canadian bank is another question. I interpret your post to mean that in June 2014 you were able to wire transfer USD’s from your home account in Canada to an account at Commerzbank AG in Germany which sent it onwards to a Warka Bank account and Germany’s Central Bank, the Deutsche Bundesbank, had no problem with that happening within its sphere of influence. That’s certainly informative if a person were interested in getting USD’s to their Warka accounts ASAP. However, this Topic is about the withdrawal of USD funds from Warka and the arrival of those same funds into a home bank account that can be easily accessed by the depositor. As an open question to you Caper and to anyone else using the Commerzbank AG, Germany as a correspondent/intermediary bank to wire USD’s from your home account in Canada or the US to your Warka account in Iraq: Has anyone been able to withdraw USD from a Warka account and have it wired through Commerzbank AG, Germany to a destination home bank anywhere on the North American continent within the span of the last 18 months?
  16. Jmdsurf45 Thanks for the feedback. Glad you’re up and running again. Please, let us know if your friend is able to get a new password to replace the one he forgot. I’m pretty sure there are folks who would like to know how to do that.
  17. If the CBI actually rolls out its plan to introduce new lower denomination IQD fiat banknotes that are meant to be exchanged directly with the existing De La Rue IQD notes in circulation, in order to lower the Iraqi IQD Money supply from Trillions to Billions; then anybody with a calculator can see immediately that the two sets of banknotes couldn’t possibly have the same rate of exchange against either the Euro or the USD. Since that exchange rate is mathematically provable, it is irksome when anybody throws out an Opinion disguised as an “advisory statement” that suggests that the CBI will introduce the new currency (for exchange purposes only), but both the new currency and the existing currency will be traded at the same rate of exchange against the Euro and the USD. Huh? Say what, again?
  18. The Jonald Very good to hear that you have access to your accounts again after receiving the “expired account” message!! Don’t mean to be nosy, but I think others in the same “expired account” situation might really appreciate any tips you can give them to get it done. If you feel comfortable with sharing methods, wording of emails, or anything else that helped expedite your success; I know of at least 4 people who would benefit from the knowledge. I’m going to outline a brief sketch of your experience as I understand how you’ve relayed it to us and then pose a couple of questions. Sorry for the intrusion, and thanks in advance for sharing ~ if you feel like it: You already had a workable password and had been accessing your account and using e-banking services as often as you needed to; and then you just didn’t log-in for about a year or so. As a result, you got the “expired account” message and were unable to even log-in far enough to change your old password for a new one as per the new Warka on-line security protocols. You emailed Warka (3) times asking for help with your situation and directed those transmissions to both the International Foreign Relations Department (Mr. Mohammad K Issa) and the International Foreign Relations Customer Service Department (Rowaida Mohammed). Someone from Warka emailed you a brand new temporary password to log-in with; in order to change to your own new password and the rest of the security protocols, and this happened within about a week from when you emailed your third email. From the message you received you could see the internal Warka email thread well enough to see that Mr. Issa directed your request to a Laith Alamir who was the one that got it done. Questions: How much time between emails? Hours, days, weeks, or months? Can you see which department actually sent you the new temporary password? Is Laith Alamir part of the e-banking department or is he from another department? Did you have any attachments to any of the emails? Any tips on the wording of the emails? Thanks again for the post.
  19. yendor asked this question: Adam, if/when this RV ever happens, has there EVER been a time where tens of thousands of "speculators/investors" become V-E-R-Y rich all at once on the change of currency rates of a country? I AM aware of the Kuwait Dinar, but my understanding is that aside from the Kuwait citizenry, there were very few others that "won". Will this be a first? But it never got answered. I’ve never found any evidence of an overnight windfall of wealth happening on a sustainable currency revalue. Anybody else know the answer?
  20. Haymon In the east and middle-east a checking account is sometimes referred to as a current account. IQD Speculators with deposits at Warka Bank don’t have that kind of an account ~ we all have IQD & USD savings accounts. They don’t come with the ability to write checks; which BTW, could only be written in IQD not USD. In the future we may be able to get pre-paid cards that work in ATM machines all over the world but any convenience they provide will come at a substantial fee per each use. Such a card requires a very disciplined user; especially if the fee turns out to be a certain percentage of each transaction. If a Warka savings account holder wants to fund a MasterCard that works at ATM’s in the USA and other such Fed (supposedly sovereign) subsidiaries where the USD is the dominate currency; then the MasterCard will probably have to be issued by Warka’s US Correspondent bank aka Citibank NA. At that point, even though it might be funded by a savings account in Iraq it will still be under all the Fed guidelines for daily withdrawal limits, purchase amount limits, etc. when using USD. Warka will also have its own rules for what you can or cannot do with such a card or cards. In the future, I’d like to have one of those cards ~ or even several of them ~ for emergencies only.
  21. radar47 The email addresses you might need are already posted on this thread, but I can see that they appear to be scrambled or something. Let’s try this instead: To Open a New Account ~ Email your request (w/ scanned pdf copies of your signed and notarized Signature Specimen Card and your notarized “True Copy” Passport attached) to: [email protected]<script cf-hash='f9e31' type="text/javascript"> /* */</script> With a courtesy cc to: [email protected] ~ Mr. Mohammad K Issa of the International Foreign Relations Department To Subscribe to E-banking Services have your signed Authorization Letter (request) scanned into a pdf file, properly named and ready to attach to your email to: Mr. Ashraf M Amr at [email protected] To Purchase a Certificate of Deposit contact: Rowaida Mohammed Customer Services Department International Affairs [email protected] with your signed Authorization Letter scanned into a properly named pdf file and attached to your email To Wire Transfer from one Warka Account to another Warka Account: have your signed Authorization Letter scanned into a properly named pdf file and ready to attach to your email request sent to: [email protected] To Wire Transfer from your Warka Account to Outside of Iraq: have your signed Authorization Letter (“Outward Remittance Application”) scanned into a properly named pdf file and ready to attach to an email to: [email protected] For MasterCards ~ a Debit Card and/or Warka’s “Electron” Card: may be used at ATM’s and Points of Sale worldwide, contact: [email protected] For International Affairs and Corresponding Banking Relations contact: Mr. Mohammad K. Issa at [email protected] For General Information contact: [email protected] For a Documentary Letter of Credit (LC) contact: Ms Rawaa Salim at [email protected] to establish “credibility” on big buys For Information concerning the Iraqi Stock Exchange: [email protected] Visit the official ISX website: www.isx-iq.net, to review bulletins and reports and to view a list of the companies that are currently trading at updated market prices to base your stock order on ~ noting that the Warka minimum buy order is 200,000 shares per company per session and that the commission fee is 1% per buy order. The same 1% fee is applied when selling shares.
  22. wbus984 You are exactly right in IMO. The IQD is at present an undervalued currency and for the sake of being the cheapest dinar in town for exports, including oil, the CBI is deliberately keeping it that way. That’s one of its chartered duties as of the signing of the 2004 Charter. With its current IQD Money Supply/USD Reserves Ratio of IQD 90 Trillion/USD 90 Billion the CBI could easily bump the exchange rate against the USD up to 1:1000 but it hasn’t ~ on purpose. The base unit of the Iraqi dinar is called a fil, just as the base unit of the USD is called a cent, just as the base unit of the JPY is one yen and just as the base unit of the Chinese renminbi (RMB) is a yuan. As everyone knows by now an in your face example of an undervalued currency deliberately kept that way is the RMB of the People’s Bank of China (PBC). Just like the PBC is feeling now, the CBI will eventually feel pressure to raise the value of its IQD against the petro-dollar so that all of its oil exporting neighbors can also have a sustainable chance to continue to live high on the hog of oil. Counting on Iraqi greed and the fact that Iraq is resource rich to eventually raise the value of the IQD against the USD or against the Euro just doesn’t make any sense at all with a fiat currency backed by nothing to start with. The CBI has so far continued to keep its IQD exchange rate against the USD and the Euro low enough to defeat a couple of decades of chronic inflation; while it still remains the cheapest exporter in the region. If only the Internationals could just have at it without all this pesky tribal interference and what not that keeps going on over there ~ interfering with the bottom line. However, if you consider prices at the pump, there does seem to be a kind of glut on the market right now; so maybe the Internationals don't mind waiting for that Iraqi light sweet crude that's so easy to extract. IMO, the entire middle-east oil exporting cabal is poised to switch from using hydrocarbon (oil) as a combustible fuel to using oil to extract Hydrogen Power and Carbon Fiber. The demand for oil is not going to go away. The Saudi Royal Family and others in the region already export Oil and Gas; but, are also already well into the process of developing the first serious generations of Solar, Wind and Hydrogen power for export. Plenty of desert space to do it in, too. If the Saudis can pay to have a 600 KM fence whipped up on the Iraqi border to keep evil-doing ISIS “tearists” out within just a few months; they can probably find a way to pay for the separation of the hydrogen and carbon molecules in the hydrocarbon of the oil they continually pump out of the ground. Both Iraqi Oil and Iraqi Gold are lying very near the surface and therefore are way easier to extract than most places around the globe ~ and that’s not even considering the Iraqi Natural Gas resources available. A minimum of 30 International Corporations have already bid on, and signed contracts for a % of all the oil and natural gas they can extract and sell via the Baghdad pipeline. It probably wouldn’t be much of a step for those same global outfits to dominate the extraction of Iraqi precious metals and Iraqi minerals ~ whatever they turn out to be. Extraction is just another word for taking, and the Internationals already know how to do that. If the GOI can eventually think far enough ahead to at least copy the Saudi Royal Family in its pursuit of an alternate source of power derived right from its own abundant source of oil; then Iraq will certainly be a force to be reckoned with in the future. As long as the neighbors keep approving and helping out with what the GOI and the CBI attempt to do. The ISX looks great from that angle, however the IQD exchange rate against the Euro and the USD will still come from a fiat declaration by the CBI and that declaration will have everything to do with the IQD Money Supply vs the USD/Euro Reserves and not much at all to do with Natural Resources or Greed ~ otherwise the neighbors wouldn't approve and the declaration (fiat) would not be respected. Or, at least that's the way its been since 2004.
  23. gymrat76541 Roger that! All civilians on outbound flights from Baghdad International were searched for IQD on their person and in their luggage. Those that were caught with IQD were labeled as smugglers on their passports and not allowed in-country again; and all the IQD was confiscated with no compensation back. On the other hand, the US Military exited out of Kuwait with US Army reserve officers doing their usual stateside jobs as customs agents and inspectors on outbound flights and they could care less if you brought back duffle bags full of the stuff ~ as spendable as monopoly money. Good luck with that deal, Sir! Next! Civilian contractors could collect the stuff in a FOB, hump it to the Green Zone while waiting on a flight out and actually FedEx it back home. Since all outgoing mail from FOB’s was inspected by US reservists doing their usual job as postal workers, a civilian contractor could disguise his smuggling by sending about 8 – 10 bills home at a time in greeting card envelopes ~ inside of the card, as if it were a written letter. Even the dogs got Valentine Cards. Whatever the case my IQD was never confiscated, but the irony is that I eventually elected to send it all back via FedEx to Warka in Baghdad after humping it all over the place trying to deposit it. I once knew a dude in Kuwait who claims to have humped IQD 50 Million to Switzerland and deposited it into a Swiss account. At the time, it was worth about $34,500 so it was supposedly accepted on deposit as it was valued against the USD. I suspect that he was really allowed to open a Swiss Account in USD with the IQD being seen as collateral and deposited into a safe deposit box.
  24. This Topic was started to try to de-bunk some of the more blatant but popular misunderstandings about how fiat currencies work. I’ve seen these misunderstandings stated as “authoritative” fact in chats and forum topics which are supposedly meant to educate and guide folks who apparently don’t want to bother educating themselves about the subject. I’ve gathered the more popular “truisms” and expressed them here as the Opinions that they really are. The Perspectives that analyze these opinions are basically just a listing of known facts ~ which mostly don’t quite match realities with the opinions. I suppose if folks want to stop by this thread and contribute comments or post streams of consciousness that have obviously misunderstood the contents already posted, then that’s all part of the freedom of speech thing. However, it might be more helpful and more appreciated by some if contributions stayed on Topic ~ somewhat. For example, when I see statements made in chats or in forum topics and comments that promote the idea that a fiat currency like the IQD (where the rate of exchange against the Euro and the USD is tightly controlled by daily auction) could actually be affected by a sudden demand on Iraqi natural resources such as oil or gold, or by a sudden expression of foreign Speculator greed, or by CBI/GOI greed, or greedy Iraqi people, then I have to question the credibility of the author. A statement like that doesn’t make any sense at all. If it’s expressed with authority as if it were true, then it could potentially be very un-beneficial to anybody that believes it and is counting on it. It’s true that the price of oil per barrel will definitely affect the budgets of all countries where the main source of income is the exportation of oil (including Iraq) but affecting the budget is not anywhere near the same thing as changing the rate of exchange between currencies.
  25. According to Mr. Issa, Deputy Managing Director at Warka Bank, the Iraqi Law says “Iraqi banks are not permitted to hold IQD accounts at their corresponding bank and are prohibited from receiving deposits or wire transfers in IQD currency where the only legal method of funding your account is through a USD bank to bank wire transfer”. I interpret that to mean that no Iraqi Bank located inside Iraq can have an IQD account at any correspondent bank located in any country where the only legal method of funding an Iraqi account is with a USD bank to bank wire transfer. If that’s the case, then any US bank under Fed control ~ including Wells Fargo, US Bank, Bank of America ~ which chooses to redeem cash IQD in exchange for an electronic USD deposit into an already existing account would simply be acting as dealers, not bankers. US banks might choose to redeem the IQD notes as a curtesy, since they really couldn’t open an actual IQD account to deposit Speculator cash into; and therefore will end up being just another part of the total spread charged to redeem the De La Rue notes. Those De La Rue notes are destined for destruction, since they will be replaced by the new notes issued inside Iraq; and any US bank under Fed control would want to move that cash IQD right along via armored car to its own IQD dealer (further up the chain) so that it could get paid for its curtesy service ~ kind of like a concierge, only different. Those US banks will also have to find a buyer for those De La Rue machines once all the notes have been turned in. If all the notes are destroyed, who will want the De La Rue machines back? Only de La Rue probably, but at a steep discount if the machines have to be re-tooled for another currency. The cost of the armored car, plus the cost of a De La Rue machine and handling, plus labor to process FINCEN Currency Exchange Reports, plus some profit will all be reflected in the bank spread ~ further cutting into Speculator profits (if any).
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