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ISX Obsevation (News Letter)


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Thanks. 

I just sent all the requested information over to Al Karmal. Let’s see how this goes. Will keep everyone posted.

btw-I’ve yet to hear back from Mr. Issa at Warka but in the same amount of time I’ve had 3 days of back and forth correspondence with the broker. 

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Happy Thanksgiving Day to my fellow ISX’ers.

 

Today I received confirmation of my account opening with Al-Karnal brokers. The entire process took 10 days of which 6 days was dealing with Warka. I recieved account name/number, wire transfer information. I also received this note 

 

Note:-We will open to you the "Tdaolaty" service for you for one year free and I'll provide you with the username and the password as soon as possible

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  • 2 weeks later...
  • 3 weeks later...

Update on my experience with Al Karmal,

 

I freed up some funds and began a wire transfer to Al Karmal following the instructions provided when they opened the account form me (around Nov 23). 

 

Up until this time I still hadn't received my user name/password and I still could not see my holdings (and whether or not they were able to acquire them from Warka).

 

I emailed Mr. Ajina at Karmal prior to initiating the wire, and as is usual, he responded promptly (within a day).  He wanted me to provide him a copy of the transfer, which I did and I kept him informed throughout the process.  So my International wire transfer goes out Tuesday 12-19, on Wednesday 12-20  I get an email from the Karmal Accountant that I have funds in my account.  

 

By end of the day Wednesday I have a user name and password (a small logon on problem was quickly resolved) and by Thursday 12-21 I am online and viewing my ISX holdings that I haven't seen (or knew if they existed) in years.

 

Al Karmal thus far has been professional and PROMPT-what a nice surprise!  

 

The wire goes through Bank of Baghdad when it gets to Iraq and they take their cut $30. Something to keep in mind for future transfers.  This also got me thinking, its obvious Bank of Baghdad likes money, I wonder if all of us Warka clients may be able to bribe our way over to Bank of Baghdad-just thinking out loud

 

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7 hours ago, brob said:

Update on my experience with Al Karmal,

 

I freed up some funds and began a wire transfer to Al Karmal following the instructions provided when they opened the account form me (around Nov 23). 

 

Up until this time I still hadn't received my user name/password and I still could not see my holdings (and whether or not they were able to acquire them from Warka).

 

I emailed Mr. Ajina at Karmal prior to initiating the wire, and as is usual, he responded promptly (within a day).  He wanted me to provide him a copy of the transfer, which I did and I kept him informed throughout the process.  So my International wire transfer goes out Tuesday 12-19, on Wednesday 12-20  I get an email from the Karmal Accountant that I have funds in my account.  

 

By end of the day Wednesday I have a user name and password (a small logon on problem was quickly resolved) and by Thursday 12-21 I am online and viewing my ISX holdings that I haven't seen (or knew if they existed) in years.

 

Al Karmal thus far has been professional and PROMPT-what a nice surprise!  

 

The wire goes through Bank of Baghdad when it gets to Iraq and they take their cut $30. Something to keep in mind for future transfers.  This also got me thinking, its obvious Bank of Baghdad likes money, I wonder if all of us Warka clients may be able to bribe our way over to Bank of Baghdad-just thinking out loud

 

Im doing the same !!  ITS in the works now.

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  • 3 weeks later...

Happy New Year fellow ISX’ers just a quick FYI 

To buy shares with Al-Karmal you email them and they send you a buy order-it’s not the easiest form I’ve filled out, but I did what I could and emailed it back. 

I asked for and got their fee structure for trades, this is what they said:

Thanks, we received your order. The fees are 0.001 IQD for ISX and 0.009 IQD for us.

 

So now I’m waiting for my trade to be placed and confirm how much they charged me. 

Will check back in when it’s done

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Okay, and just like that I receive an email from Al Karmal with my trade confirmation.  Apparently whatever details were missing from the form were remedied by them.  The order went through within the price range and for the stated number of shares.  The fees taken were exactly as detailed in their email (I posted their response above).  One thing that is very different from when I was placing trades through Warka is that at Al Karmal there does not appear to be a minimum amount,  remember Warka told us we had to purchase 200,000 shares of any stock, that is not the case with Al Karmal.  

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