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I realize that withdrawals cannot be made from Warka at this time, but I am trying find out if there was a previous daily withdrawal limit from Warka Bank. I found some posts that quoted $10,000 per day.
If the RV is 1:1 , and the transfer limit is $10K per day, that would mean one would be able to transfer approximately $2.5M per year if one transferred $10K per day, 5 days a week, minus holidays etc.... For some this would mean many years of withdrawals to get their money out of Warka.
Does anyone have any info on whether the $10K per day transfer number is accurate? If so, are there other suggestions on how to withdraw larger amounts from Warka? I thought about trying to change my personal account to a corporate account at Warka, but not sure if that's even possible, or if the withdrawal limit would be different. Is an IBC an option with Warka? Anyone have any suggestions?
thought I would post this here...I know there many Warka account holders here........seems when I get away from OSI, VIP I get some negative feed backs....would enjoy hearing your thoughts....the translation is a bit rough......but both google and bing were pretty close to each other in the translation....This sounds very promising for the Warka investors and those with Warka bank accounts...
BAGHDAD Mustafa al-Hashemi,
The Iraqi Central Bank seeks to stimulate the private banking sector through the removal of private banks from speculating in dollars and support the provision of mechanisms to strengthen its activity and increase profits which would get the economy moving and directing them to take the real role in development.
In the process of this context, the Central Bank Governor Dr Ali Alak said that the coming days will witness the return of banking activity the economy and the Warka Bank after the completion of raising the central tutelage them measures.
He said in a statement the "morning" the banking sector where the future and the trading of exaggerations in the conditions of these banks are exaggerations improper where we hear every now and then there are the banks under guardianship because of hardship or bankruptcy.
Lifting guardianship and stressed that this is not accurate we do not have only one bank is now under the custody of "Bank of the economy" and soon will finish this stage to return to work In addition to the Warka Bank who had got the problems and now began to re-position the central bank is considering now with the Department of the Bank of ways to promote it.
The governor stressed that the central bank stimulates the private banking sector and the private banks to exercise their activities in accordance with international standards, and the fact that modern mostly it You need the care and support from the central bank.
While Nbadha the speculative dollar we have been working to compensate this aspect and provide other tools can strengthen its role and increase its activities and profits, pointing out that the central process of doing a set of procedures as well as put forward proposals adopted by the Bank in the Economic Committee of the Council of Ministers and have been endorsed and acceptance they contribute to upgrading the role of these banks.
Government deposits and continued relationship was for banks restricted role in the granting of letters of credit to a certain extent now we raised the ceiling of this authority to grant such credits, pointing out that the central coordinate with the Ministry of Finance to obtain approval to accept the idea that the private banks can receiving government deposits, and dealing with the fees instruments that pay to the private banking system as it now does not accept the government transactions.
He noted that the law guarantee deposits will be discussed soon in the House of Representatives will lift the state of lack of confidence, because this sector is working foundation principle on the issue of public confidence. project funding announced by the Central approval to lend specialized in the fields of housing and construction, industry, agriculture, commercial banks, which continues to this aspect as the bank is working on a very important project marks a turning point and the start of many countries in the world is to finance small and medium enterprises project, Msttrda
We are now coordinating with banks to develop a plan in this context, because it is possible to move and stimulate the economy and determine the unemployment in the country and this is one of the strategic projects financed by the central bank of what would contribute to GDP. He stressed that the models that I quoted from some of the world in this successful and encouraging area and must move quickly this There is also a trend that multiple ideas were discussed with private banks to take the national and economic role.
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