10 Days Until Warka Bank is Closed?

[firemans35]

Email I received from the ISX

Please note that Al Warka Bank is not closing , with regards to the CBI press statement please note that our CEO and Chairman of the Board of Directors has submitted to the CBI a proposition a get well business plan exceeding the capital requirement set by the CBI covering over IQD 300 billion over a period of 6 months the standard period in accordance with the set business precedes protocols and guidelines where the board of directors hopes that this proposition is taken into consideration and approved for the good benefit of all the fine parties concerned where a notice will be posted on our website regarding the result of this proposal.

[Goodlife]

Email I received from the ISX

Please note that Al Warka Bank is not closing , with regards to the CBI press statement please note that our CEO and Chairman of the Board of Directors has submitted to the CBI a proposition a get well business plan exceeding the capital requirement set by the CBI covering over IQD 300 billion over a period of 6 months the standard period in accordance with the set business precedes protocols and guidelines where the board of directors hopes that this proposition is taken into consideration and approved for the good benefit of all the fine parties concerned where a notice will be posted on our website regarding the result of this proposal.

Good stuff

Have a happy Christmas day everyone.

[Adam Montana]

.... Has Iraq every kept to a published time table? I can think of no event that has ever occurred on time.

Amen

[82Corp.]

The CBI will back Warka customers, that is why they did what they did. Im sorry for those of you who dont have Warka accounts who were wishing people like me who do , wont take the big hit you were hoping for. No guts guts..no glory....no homework, you fail again.

Frank61, you are correct! What is their greater loss 200 billion on 31 Dec 2012 or 750 billion after RV. Makes good business since to cut a check for 200 billion on 31 Dec, if not CBI owns Warka!

Many Blessings

Edited December 25, 2012 by 82Corp.

[coorslite21]

According to this article if Warka does not come up with 200 billion Dinars before the end of this month (10 days from now) they will have all of their assets liquidated by the CBI which has them in guardianship.

Central Bank Warka Bank choice between liquidation and payment of 200 billion dinars

Thursday, December 20, 2012

Central Bank Warka Bank choice between liquidation and payment of 200 billion dinars

The face of the Iraqi Central Bank, on Wednesday, warning liquidation of Warka Bank for Investment and Finance did not pay $200 billion Iraqi dinars before the end of this month.

The bank said in a statement that the Warka Bank for Investment and Finance and faced several problems and committed his administration numerous errors which summoned the Iraqi Central Bank to impose trusteeship and start serious act to liquidate him, Indicating that the major shareholders in the bank have offered several proposals for rehabilitation.

The bank said that he studied the options of liquidation and rehabilitation under very careful of depositors 'interests and rights, pointing out that he noted that the liquidation of the bank shareholders' equity exposure to risk.

The bank that keep the Warka Bank on this case is contrary to trends central bank in building a Iraqi bank Rezin and enhance confidence in him, pointing out that he decided to issue warnings to the Warka Bank until the 31 of December, the current, to be repaid as agreed to deposit two hundred billion dinars in the light of what has been meeting with him, otherwise, the central bank takes action to eliminate him.

The central bank announced, (26 June 2012), that the trusteeship committee formed to audit the accounts of the Warka Bank will distribute financial returns that you get from bank debt among small depositors, stressing that there are ten thousands of small depositors in the bank.

http://ar.radionawa....0753&LinkID=198

Interesting link........Do you read and speak Arabic????

JMO.......Warka will not be liquidated........Iraq is never going to screw the foreign investment world that way and then ask them to invest in Iraq after an RV.......

of course...I guess if there is an RV before the 31st.....that would fix this problem as well........

just now listening to that radio link you supplied......music isn't bad........not bad at all........Merry Christmas to you...

[Jejune]

Interesting link........Do you read and speak Arabic????

JMO.......Warka will not be liquidated........Iraq is never going to screw the foreign investment world that way and then ask them to invest in Iraq after an RV.......

of course...I guess if there is an RV before the 31st.....that would fix this problem as well........

just now listening to that radio link you supplied......music isn't bad........not bad at all........Merry Christmas to you...

How would an RV fix it? Warka is short 200 billion dinar. An RV would mean they're short 200 billion dollars instead of just 200 million dollars.

[Frank61]

Frank61, you are correct! What is their greater loss 200 billion on 31 Dec 2012 or 750 billion after RV. Makes good business since to cut a check for 200 billion on 31 Dec, if not CBI owns Warka!

IT UPSETS ME TO READ NEGATIVE COMMENTS FROM PEOPLE WHO DONT EVEN HAVE ACCOUNTS WITH WARKA.......so they create panic, or try to, because they didnt qualify to get an account. They wont have success and they dont want us who have done it ,to have it either. Actually its a common mental issue. I am putting this out there so people who have invested have some peace of mind and defense against these folks. It makes me angry.

Many Blessings

[82Corp.]

Frank61, I see you’ve done your research on Iraqi Banks and GOI laws also! Good man!

Edited December 27, 2012 by 82Corp.

[TPSprayduster]

only invest what you can afford to lose. that is why it is called an investment.

[SPOTLIGHT]

How would an RV fix it? Warka is short 200 billion dinar. An RV would mean they're short 200 billion dollars instead of just 200 million dollars.

Wtf!!!

[Lenape]

I can log into my account still and I don't think Bernie Madoff is involved

[coolbeans]

I can log into my account still and I don't think Bernie Madoff is involved

Will you be able to on January 2nd?

Time will tell.

Best of luck to all Warka clients.

[asad]

The Bunnia Family is working out a deal business arrangement with the CBI on a deal with some of thier businesses with Warka Bank. We will know soon!!!

[Goodlife]

Will you be able to on January 2nd?

Time will tell.

Best of luck to all Warka clients.

Yep, time will tell.

You keep making comments about Warka closing soon. Its a bit morbid and negatively self serving. I Dont understand your motive as your repetitive negative comments are not useful or informative. Its not cool to deliberately try and add stress to peoples lives. How about putting a cork in it for awhile and let it play out.

[geoyachtsus]

Good comment Goodlife! Here! Here!