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fixxxer

Post RV Withdrawal options

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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?

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yes the limit was supposedly $10k per day however Warka didn't action requests on a daily basis. It would take about 2 weeks for the money to be transfered. Just my personal experience before the Guardianship.

 

I imagine Warka will have limits to withdrawals whenever they open for business again to prevent a mass exodus.

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Warka does work with an IBC........the filing was much the same to open an account with the cost being $258 vs. the $108 for an individual .....

 

I would agree there will be some restrictions on withdrawals........with the growth Iraq is likely to experience Warka may just offer a good interest rate......I believe they have been showing about 6% these past years......not bad compared to western banks.....

 

There is always a possibility for a transfer to another regional sister bank, say in Dubai....that might allow you to do more as you please with your funds...

 

Time will answer these questions.......

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Thanks to you both!

Coorslite21, is it possible to change my individual account at Warka to one that is compatible to use in with an IBC?  I hope you're right about the sister bank possibility! It would be nice at some point to just clean out my account all at once and send it to a corp account in Belize.

 

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2 hours ago, fixxxer said:

Thanks to you both!

Coorslite21, is it possible to change my individual account at Warka to one that is compatible to use in with an IBC?  I hope you're right about the sister bank possibility! It would be nice at some point to just clean out my account all at once and send it to a corp account in Belize.

 

You would not want to do that as your individual identity would be directly linked to your IBC on an official, legal banking document. You need to be separate from your IBC....an IBC is a stand alone entity which is best utilized with a nominee in place.  Simple answer....nope...

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coorslite21, what's your thinking on after Iraq goes international that we find a way to convert our holdings in Warka Bank to Bitcoin? With an exchange in Hong Kong or Singapore it could be easily transferred over an not involving the IBC. I'm figuring if Iran and Dubai is onboard with crptocurrency that Iraq should be next to get on board. What ya think?

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Coorslite21....my mom has $$ in Warka Account and needs to have shoulder surgery. Any thoughts on how to retrive her money. Any advice appreciated. She is 82 yo.

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buy stock on isx, sell all stock. have brokerage wire money anywhere in the world you want.

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On 12/18/2017 at 12:00 PM, DoD said:

coorslite21, what's your thinking on after Iraq goes international that we find a way to convert our holdings in Warka Bank to Bitcoin? With an exchange in Hong Kong or Singapore it could be easily transferred over an not involving the IBC. I'm figuring if Iran and Dubai is onboard with crptocurrency that Iraq should be next to get on board. What ya think?

Sorry.....I missed both of these posts.........DoD......because Iraq is FATCA compliant......and of course if your Warka account was established in your personal name.....the USG will know about this windfall..........You can send/use any of these Warka funds, provided they release them anywhere, for anything........but if this is deemed to be a taxable event......you will be paying taxes........at least that would be my opinion....CL

 

On 1/10/2018 at 10:28 AM, Knuckles said:

Coorslite21....my mom has $$ in Warka Account and needs to have shoulder surgery. Any thoughts on how to retrive her money. Any advice appreciated. She is 82 yo.

Knuckles........aitshioud  may have a viable option.....I hope your Mom has already had successful surgery.....not long ago Warka sent out that notice stating they would be liquidating ISX accounts unless you requested they transfer them into your name into another brokerage account.......if you did that.......then I would guess that more reputable brokerage would then sell your shares for you and wire the money to Mom......

 

Of course it is Iraq, and Warka........so who knows......Hope this helps........sorry I missed your post of months ago.....CL

 

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Thank you for your reply. No apology needed. Yes, she had a successful surgery and continuing to recover. Unable to move $$ from Warka. We only have basic accounts. Did not have anything with ISX. We do not understand that process. I believe we are in over our heads to be honest....time will tell. Have a great day:)

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unfortunately it looks like the money that is not in isx will have to wait until warka becomes liquid again, when they start trading on the isx that will be a start, several year wait to be honest wouldnt surprise me.

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When this thing RV's I will have the resources to fly into Baghdad an go to Warka Bank an get my money...

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12 hours ago, DoD said:

When this thing RV's I will have the resources to fly into Baghdad an go to Warka Bank an get my money...

Has anybody tried a wire transfer from Warka lately??  Didn't we have to wire monies in?? Maybe we can wire it out?

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1 hour ago, haymon said:

Has anybody tried a wire transfer from Warka lately??  Didn't we have to wire monies in?? Maybe we can wire it out?

A person hasn't been able to wire money out of their Warka account for years now. Right now you can see your account online and that is about it. Supposedly they are working on getting their Mastercard licence back, having CD's available in June, and raising capital via a subscription shares sale. And having a General Assembly meeting,,,soon. So we are still waiting to see what happens.

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Warka sold another ISX holding of mine yesterday...This one according to the best translation I could do I didn't know I still owned. They can go ahead an keep building my Dinar account because one day I'm going over there an close it out....

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Great. Would you need to go there to close it? Cannot just reverse the setup procedure and send back to US account?

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Knuckles, I don't know, heck they wont even return an email about my ISX account. My plan is to make an appointment with Mr. I an have him transfer my Dinar balance to my bank account in, say Hong Kong or Singapore. Then close the account out.

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On 5/23/2018 at 10:04 PM, DoD said:

Knuckles, I don't know, heck they wont even return an email about my ISX account. My plan is to make an appointment with Mr. I an have him transfer my Dinar balance to my bank account in, say Hong Kong or Singapore. Then close the account out.

better in hongkong

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Hard to hold the line. This train is slow moving and the conductor's are difficult to figure out. I bet everything changes after the RV. They will be REAL friendly then to keep your business! Don't forget the time differences. It is my understanding the after hour emails are deleted

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