Al-Jazera fees

[rightsonword]

Hi guys,

Hope all is well. I was wondering about Al-Jazera fees.

When a company offers bonus shares, are we automatically given those shares or do we need to notify Al-Jazera about them? If so, do they process the request for free or is their a fee that needs to be paid before we are given those shares, like paid-up share requests are? I don't want to miss out on bonus shares over a minimal processing fee.

Also, we've gotten the BIME paid-up and bonus shares, but has anyone received their BBOB paid-ups or bonus shares or any other bonus or paid-ups from other stocks owned?

[Captainron601]

Hi guys,

Hope all is well. I was wondering about Al-Jazera fees.

When a company offers bonus shares, are we automatically given those shares or do we need to notify Al-Jazera about them? If so, do they process the request for free or is their a fee that needs to be paid before we are given those shares, like paid-up share requests are? I don't want to miss out on bonus shares over a minimal processing fee.

Also, we've gotten the BIME paid-up and bonus shares, but has anyone received their BBOB paid-ups or bonus shares or any other bonus or paid-ups from other stocks owned?

You may want to email Hassan at Aljazera and ask those questions if you're using Aljazera. I've received all my paid-ups and free shares from those banks, however, I purchased my stocks through Warka. I use Aljazera for only the Telecoms so I'm still waiting to see how things go with them... Good luck

Captainron601

[TrinityeXchange]

i've received BNOR and BIME bonus shares. i too am still waiting on BBOB & SMRI.

[rightsonword]

You may want to email Hassan at Aljazera and ask those questions if you're using Aljazera. I've received all my paid-ups and free shares from those banks, however, I purchased my stocks through Warka. I use Aljazera for only the Telecoms so I'm still waiting to see how things go with them... Good luck

Captainron601

Yea, I think I will send him an email. I've read from other WARKA users that they get their bonus and paid up shares fairly quickly. I't took Al-Jazera months before they issued the BIME paid-ups and bonuses. Still waiting on a few others. Do you know if WARKA grants bonus shares to share holders regardless if they submit an order for paid up shares?

i've received BNOR and BIME bonus shares. i too am still waiting on BBOB & SMRI.

Thanks, glad to know I'm not alone. I'm waiting for those two as well as BKUI, although that only recently occurred. Do you know if bonus shares are automatically given to us by Al-Jazera regardless if we notify them or not that we are entitled to them? I read from one poster who was with Rabee Securities that Rabee would charge a hefty fee simply to process the paper-work for bonus shares. If the client didn't pay the fee, they were not awarded the bonus shares as the paperwork would never go through.

I can live without paid-up shares, but bonus shares are the dividends that make the ISX worthwhile at this time, imo. I like Al-Jazera, but I wish they would email share holders pertinent information.

[TrinityeXchange]

Do you know if bonus shares are automatically given to us by Al-Jazera regardless if we notify them or not that we are entitled to them? I read from one poster who was with Rabee Securities that Rabee would charge a hefty fee simply to process the paper-work for bonus shares. If the client didn't pay the fee, they were not awarded the bonus shares as the paperwork would never go through.

I can live without paid-up shares, but bonus shares are the dividends that make the ISX worthwhile at this time, imo. I like Al-Jazera, but I wish they would email share holders pertinent information.

hello rightsonword. i do not believe al-jazera charges anything for bonus shares neither do they require us to submit any paperwork for them. paid-up shares is different though as the broker does take its profits for the transaction and require us to notify them of our intent to purchase. a buy order is not required. here is a direct quote from Mr. Hasan Abdul-Karim:

"You do not need to send a buy order , as the shares will not be purchased during an ISX session . We shall write out a cheque on your behalf to the bank handling this IPO to buy 25% of your BIME shares at 1IQD per share . This is an IPO by BIME to raise its capital from 100 to 150 billion Iraqi dinars . Priority is given to BIME shareholders to buy 25% of their total shares at 1IQD per share for two weeks .What is left over will be offered to the general public to purchase for two more weeks ."

hope that helps.

Edited November 15, 2012 by TrinityeXchange

[rightsonword]

hello rightsonword. i do not believe al-jazera charges anything for bonus shares neither do they require us to submit any paperwork for them. paid-up shares is different though as the broker does take its profits for the transaction and require us to notify them of our intent to purchase. a buy order is not required. here is a direct quote from Mr. Hasan Abdul-Karim:

"You do not need to send a buy order , as the shares will not be purchased during an ISX session . We shall write out a cheque on your behalf to the bank handling this IPO to buy 25% of your BIME shares at 1IQD per share . This is an IPO by BIME to raise its capital from 100 to 150 billion Iraqi dinars . Priority is given to BIME shareholders to buy 25% of their total shares at 1IQD per share for two weeks .What is left over will be offered to the general public to purchase for two more weeks ."

hope that helps.

Thanks a ton Trinity. I knew about the paid-up shares, but was curious about the bonus shares due to what I read about one person's experience with Rabee Securities. I went ahead and emailed Mr. Haasan and he wrote this:

When investors are eligible to bonus shares , the new shares are added to their brokerage accounts automatically by the relevant listed company . We receive notifications via the ISX . We do not charge any fee for this service . The process of listing the new added company shares on the ISX takes some time ( months ) before investors can see their bonus or paid-up shares on their accounts .

I'm just happy to be certain that the bonus shares come in automatically. Although, he says it takes months before bonus or paid-up shares are added by the company in question, but then WARAKA routinely awards their shareholders their bonus and paid-ups rather quickly.

Considering the state of WARKA, I'm more inclined to believe Al-Jazera. Wish there was a third-party to see how they process their bonus and paid-ups. Still, Al-Jazera is pretty good when it comes to service.

Edited November 16, 2012 by rightsonword

[TrinityeXchange]

but then WARAKA routinely awards their shareholders their bonus and paid-ups rather quickly.

not sure where you are getting that from my friend. those guys are crying bloody murder about warka and their bonus & paid-ups. some investors have sent multiple emails to warka before seeing their accounts updated. some missed out on opportunities completely and have been stark raving mad with warka.

of course i am only speaking from my experience and you are speaking from yours. i have simply seen an entirely different warka experience from the online community. it hasn't been swift at all.

[rightsonword]

not sure where you are getting that from my friend. those guys are crying bloody murder about warka and their bonus & paid-ups. some investors have sent multiple emails to warka before seeing their accounts updated. some missed out on opportunities completely and have been stark raving mad with warka.

of course i am only speaking from my experience and you are speaking from yours. i have simply seen an entirely different warka experience from the online community. it hasn't been swift at all.

You are correct. Looking back over some of the posts, the payouts aren't as frequent as I believed and many users' accounts are updated. Although, some have had better experiences than others and supposidly received theirs quickly.

Oh well, we'll see what the future holds.

[matthew6:19-21]

Trinity and I hold the same experience as far as bonus and paid-up shares go.

[TrinityeXchange]

not sure where you are getting that from my friend. those guys are crying bloody murder about warka and their bonus & paid-ups. some investors have sent multiple emails to warka before seeing their accounts updated. some missed out on opportunities completely and have been stark raving mad with warka.

of course i am only speaking from my experience and you are speaking from yours. i have simply seen an entirely different warka experience from the online community. it hasn't been swift at all.

I thought it good to follow up my post with solid information. The postings below is from another site where ISX investors have expressed a very unfavorable experience with Warka as of late. Just thought I would share so that know one thinks I am talking out of my neck. Be blessed my friends:

=============================================

I'm trying to get someone, anyone, to reset my password so that I can log on to my warka account and check my funds. I have sent numerous emails and even another document stating to reactivate my account as I do so every year. Does anyone know why this is happening? Is it because of the CBI? On another note, I've had held dinars since 2004 and nothing has come out of it. Therefore, I want to check out and wire the money back into a US bank account. I know I'll probably have to pay long term capital gains tax but what else? Does anyone have a document that explains how to wire the money back appropriately?

Been emailing since June to get my new password and I have also send over the letter to authorize the annual deduction many times. I have had my account for almost 6 years now...No response for over 5 months....I have a big chunk in Warka and some in stocks...no clue as what to do? Any ideas? I just keep thinking this will pan out but I have sent over 50 emails...I just want my money back now. Mr. I used to respond on time but I can't get any response.

I have been doing the same thing for about a month. Today, I went on Warka and just tried to log on to my account using my old password, it worked! Apparently, customer service and good communication is not their thing at Warka. I guess my best advice would be to keep doing what you're doing and keep trying to logon. GOOD LUCK!

i got my free shares in al mamoura and the paid up ones too. i got an email with a spreadsheet indicating the correct balance, however this still hasnt reflected in my warka online banking. i have sent 5 emails to ask when this will be updated but still no reply .

I am not getting responses from Mr I. for some time now, not sure if his e-mail is not working, or has been changed, or just plain ignoring, and because of him not dealing with foreign customers things have been a major slack from warka. Hope fully Warka will have someone in foreign department who understand the needs of investors.

[rightsonword]

I thought it good to follow up my post with solid information. The postings below is from another site where ISX investors have expressed a very unfavorable experience with Warka as of late. Just thought I would share so that know one thinks I am talking out of my neck. Be blessed my friends:

=============================================

I'm trying to get someone, anyone, to reset my password so that I can log on to my warka account and check my funds. I have sent numerous emails and even another document stating to reactivate my account as I do so every year. Does anyone know why this is happening? Is it because of the CBI? On another note, I've had held dinars since 2004 and nothing has come out of it. Therefore, I want to check out and wire the money back into a US bank account. I know I'll probably have to pay long term capital gains tax but what else? Does anyone have a document that explains how to wire the money back appropriately?

Been emailing since June to get my new password and I have also send over the letter to authorize the annual deduction many times. I have had my account for almost 6 years now...No response for over 5 months....I have a big chunk in Warka and some in stocks...no clue as what to do? Any ideas? I just keep thinking this will pan out but I have sent over 50 emails...I just want my money back now. Mr. I used to respond on time but I can't get any response.

I have been doing the same thing for about a month. Today, I went on Warka and just tried to log on to my account using my old password, it worked! Apparently, customer service and good communication is not their thing at Warka. I guess my best advice would be to keep doing what you're doing and keep trying to logon. GOOD LUCK!

i got my free shares in al mamoura and the paid up ones too. i got an email with a spreadsheet indicating the correct balance, however this still hasnt reflected in my warka online banking. i have sent 5 emails to ask when this will be updated but still no reply .

I am not getting responses from Mr I. for some time now, not sure if his e-mail is not working, or has been changed, or just plain ignoring, and because of him not dealing with foreign customers things have been a major slack from warka. Hope fully Warka will have someone in foreign department who understand the needs of investors.

No one said WARKA was any good. Rather, that those in it have claimed to have received their bonus and paidup shares rather quickly compared to Al-Jazera (although, some complain they have not). I believe I pointed this out earlier and that for all we know, WARKA may indeed be lying to those they claim to have given their shares to.

It's a shame we don't have anyone with another brokerage that can confirm more information for us.

[Goldiegirl]

I thought it good to follow up my post with solid information. The postings below is from another site where ISX investors have expressed a very unfavorable experience with Warka as of late. Just thought I would share so that know one thinks I am talking out of my neck. Be blessed my friends:

=============================================

I'm trying to get someone, anyone, to reset my password so that I can log on to my warka account and check my funds. I have sent numerous emails and even another document stating to reactivate my account as I do so every year. Does anyone know why this is happening? Is it because of the CBI? On another note, I've had held dinars since 2004 and nothing has come out of it. Therefore, I want to check out and wire the money back into a US bank account. I know I'll probably have to pay long term capital gains tax but what else? Does anyone have a document that explains how to wire the money back appropriately?

Been emailing since June to get my new password and I have also send over the letter to authorize the annual deduction many times. I have had my account for almost 6 years now...No response for over 5 months....I have a big chunk in Warka and some in stocks...no clue as what to do? Any ideas? I just keep thinking this will pan out but I have sent over 50 emails...I just want my money back now. Mr. I used to respond on time but I can't get any response.

I have been doing the same thing for about a month. Today, I went on Warka and just tried to log on to my account using my old password, it worked! Apparently, customer service and good communication is not their thing at Warka. I guess my best advice would be to keep doing what you're doing and keep trying to logon. GOOD LUCK!

i got my free shares in al mamoura and the paid up ones too. i got an email with a spreadsheet indicating the correct balance, however this still hasnt reflected in my warka online banking. i have sent 5 emails to ask when this will be updated but still no reply .

I am not getting responses from Mr I. for some time now, not sure if his e-mail is not working, or has been changed, or just plain ignoring, and because of him not dealing with foreign customers things have been a major slack from warka. Hope fully Warka will have someone in foreign department who understand the needs of investors.

Hmmm I requested a password change and was asked to complete some information and it was reset. All done within a week. I emailed the e-banking department and copied Mr. Issa. No problems for me. I think they are busy with the takeover to be honest.

[TrinityeXchange]

No one said WARKA was any good.

true point my friend

Hmmm I requested a password change and was asked to complete some information and it was reset. All done within a week. I emailed the e-banking department and copied Mr. Issa. No problems for me. I think they are busy with the takeover to be honest.

i hear you. the results with them appear to be very very inconsistent. some swear by warka others swear at warka. here is another post i thought interesting:

After trying to tally my portfolio for several months I do not see it in sync with Warka account and never had, after several very polite attempts for correction with Warka I am now getting dead air on my e-mails and now convince they are fishing around with providing made up documents to the clients. I was ignoring little discrepancies but now major chunk is missing and Warka is not able to account for it. Just a warning from me who is dealing with warka now for several years to this forum and others who are thinking to join Warka.

[Goldiegirl]

true point my friend

i hear you. the results with them appear to be very very inconsistent. some swear by warka others swear at warka. here is another post i thought interesting:

After trying to tally my portfolio for several months I do not see it in sync with Warka account and never had, after several very polite attempts for correction with Warka I am now getting dead air on my e-mails and now convince they are fishing around with providing made up documents to the clients. I was ignoring little discrepancies but now major chunk is missing and Warka is not able to account for it. Just a warning from me who is dealing with warka now for several years to this forum and others who are thinking to join Warka.

I see that many are having issues. Not sure how they are communicating with Warka or if they are following protocol but yes I can understand their frustration with it all. At this point I thinks it's futile to assume you can get your money out. Hopefully, we will be able to do that post RV. I am quite certain of that.

[rightsonword]

I see that many are having issues. Not sure how they are communicating with Warka or if they are following protocol but yes I can understand their frustration with it all. At this point I thinks it's futile to assume you can get your money out. Hopefully, we will be able to do that post RV. I am quite certain of that.

My question is, how can a bank in WARKA's state legally accept wires, but not wire out?

I dno't understand how tha banking industry works, but it appears this would be a good sign that perhaps in the future, funds will eventually be allowed to go out. How else can the law justify allowing WARKA to receive funds but not to withdraw?

I wonder if WARKA has a disclaimer on their website and if the are requireed to have one by law. I also wonder if residents in Iraq are having the same problems as international investors.

[Goldiegirl]

I dno't understand how tha banking industry works, but it appears this would be a good sign that perhaps in the future, funds will eventually be allowed to go out. How else can the law justify allowing WARKA to receive funds but not to withdraw?

Yes I believe it to be a good sign. I am not worried about getting my money out one day. It wasn't something I was planning to do right at RV anyway.