Warka ... 3 zeros

[gizmo]

Letter from Warka Bank

May 28, 2010 · Posted in CHATS / POSTS

Letter from Warka Bank – 3 Zero News “Null and Void”

Here is a statement from Warka Bank (largest privately owned Bank in Iraq 120+ branches approx.) – as you can se the CBI is using the media for propaganda purposes in order to curb speculation – if any of the 3 zero stories held water the bank(s) would of course be officially notified – as per the letter from Mr. I. below they have not been notified of any changes.

I deal with this bank and have several emails from him over the years – as per an earlier agreement we have, as a group, decided to keep his full name off the internet. If you deal with the bank or their ISX dept, you are fully aware of his name and title – he is quite respected and revered as a true professional for Warka Bank and it’s ISX dept.

Note – From Mr I of Warka Bank

“The CBI has not provided official written notification to the banking sector

and banks regarding this matter thus it is considered null and void by the

Iraqi banking sector and this is the general law noting that we contacted

the CBI regarding this matter where they did not provide anything official

to comment on simply stating that this matter is under study and has been so

for the past few years nothing more nothing less.

The value the currency, shares, property…etc will be set in accordance

with the value of IQD applied and affected by the CBI in accordance with the

law where the value of the IQD is set in accordance with the value they set

and this standard general practice.

If a revalue takes the entire IQD will be revalued in accordance with the

rate the CBI sets.

From our prospective we can not comment and will not comment any further

unless the CBI officially announces that the removing of the 3 zeros or

revaluation will actually take place by providing the banking sector written

documentation where this would be the standard general verification and

confirmation currently practiced.”

[Barboza]

Letter from Warka Bank

May 28, 2010 · Posted in CHATS / POSTS

Letter from Warka Bank – 3 Zero News “Null and Void”

Here is a statement from Warka Bank (largest privately owned Bank in Iraq 120+ branches approx.) – as you can se the CBI is using the media for propaganda purposes in order to curb speculation – if any of the 3 zero stories held water the bank(s) would of course be officially notified – as per the letter from Mr. I. below they have not been notified of any changes.

I deal with this bank and have several emails from him over the years – as per an earlier agreement we have, as a group, decided to keep his full name off the internet. If you deal with the bank or their ISX dept, you are fully aware of his name and title – he is quite respected and revered as a true professional for Warka Bank and it’s ISX dept.

Note – From Mr I of Warka Bank

“The CBI has not provided official written notification to the banking sector

and banks regarding this matter thus it is considered null and void by the

Iraqi banking sector and this is the general law noting that we contacted

the CBI regarding this matter where they did not provide anything official

to comment on simply stating that this matter is under study and has been so

for the past few years nothing more nothing less.

The value the currency, shares, property…etc will be set in accordance

with the value of IQD applied and affected by the CBI in accordance with the

law where the value of the IQD is set in accordance with the value they set

and this standard general practice.

If a revalue takes the entire IQD will be revalued in accordance with the

rate the CBI sets.

From our prospective we can not comment and will not comment any further

unless the CBI officially announces that the removing of the 3 zeros or

revaluation will actually take place by providing the banking sector written

documentation where this would be the standard general verification and

confirmation currently practiced.”

Thank you for posting this valuable information. Every little bit of news is always a great source for reinforcing our confidence!

Go RV!