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Post about Warka on an Iraqi FB Warka page


NMP2017
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So if I am reading this right 2 years ago the CBI told Warka to start giving us our money back but Warka has been using it to make money instead. If true the CBI needs to make Warka start doing #1 immediately! I mean if Warka can issue letters of guarantee they can give us our money back,,,

Here is the post:

https://www.facebook.com/groups/7830...ref=nf&__xts__[0]=68.ARD2ul8Mgy7txJZk19fy6YcV33yg7dkyzc177zZoFY4HTh zYuawSFXsmdZ0rm0Oulbr5cLRASwqeMnMp6Zw2ZXRM1Td25fia i5ZA6l5Iayv6SqBwRz2jsCFMI4QrBDQz7mswmn0ti6zu7LO9ZA 8b0LcSWLpXNH4wXeJinGD6nU9MS6CYGLPSMhSuKdSSBHz8Z7nQ nHvqlb5smNW8XFf3vSTPR1nw7GWpjavrR1E7U3BDjVbAim8LyB HKdq-FzV8Ym07HmgSfsTs7C7v55IKfa0gH4JjdpZGJ4uYM4geB_lG-7gaDXIOlje4Za-e-9U8TnxE1R_lp37jSUa32r_Zp&__xts__[1]=68.ARAhL1-FMzP_TTlaahV5Fw3djbmSvsRdZQEVocQaaYcilX8c5CzknovYS U8aSDcng57U7UOJyETak6fIWb3zG1ITh7acpDKwfF0cD-55lsF72KrTfCzyQz0QRba2t7d5UBnx9hkzn_LCtQ_8q6e1L6d1 bOvq1LsiG4gvkPdr8h7gS23r2mV_xNZ61GvPhiOxaCJyvAFsB6 HgKbwZ8r3Onf9Ud5o6Cy840Ej4qibzEwfgGiFyZ4BnSzaIYO-I8Ky5T2YWaHF6SMQJvGdO_IcrCKLc-LIFZuOdNLA17N01eCBwQkv6fyu0PZLooZRtoA8iGM48NfEVLrl ncvkv6vT7&__tn__=C-R

Alwarq Bank
The contributors to the Bank visited the headquarters of the General Administration of the Bank and contacted the Central Bank for the latest developments. We have received the following information:
Almost two years ago, the central bank requested the bank to pay the depositors and then allowed the bank to participate in the window of selling the currency and practicing its business normally. After a period of time, the bank's administration applied to the central bank to increase its capital. Money and pay the depositors shares for their deposits
But the depositors rejected this proposal and things remained unresolved
Upon enquiry from the Central Bank about the possibility of operating a bridge bank, the answer was (joking) that the Warek Bank is required by a two-story bridge bank.
3-Now, the bank's administration has three options:
First option:
To pay the depositaries their money and go back to work normally

The second option:
Merging with another bank
The third option:
Clearance of the bank
The second and third option will result in the loss of shareholder s' rights
So all contributors should unite their efforts to put pressure on the board of directors of the bank and the central bank to protect their rights
Greetings to all

Dr. Alaa Al Musavi
Head of the Iraqi Stock Exchange Investors Association

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  • 2 weeks later...

Found this new post in FB Iraqi Warka group - https://www.facebook.com/groups/783060431793021/

I'd like to know what decision was made on 7/17/2020. Here is the post:

"From the news of Warka Bank (copied from a publication and not the ideas of the current publisher):
I made a lot of contacts with the relevant authorities, and I looked at the decision of the Board of Directors of the Central Bank on 7/17/2020. I also reviewed the plan for the rehabilitation of the Warka Bank, which indicates the Central Bank’s keenness, specifically the Banking Control Department, to make efforts to save the bank. Therefore they called everyone The bank’s board of directors, major shareholders and depositors, to seize the opportunity and cooperate to make the central bank’s efforts to save the bank a success. This may be the last opportunity.
After studying all the matters, I propose to you the following plan to save the bank:
1- The bank’s board of directors calls for a meeting of the general assembly to elect a new board of directors and make a decision to increase the capital from 105 to 250 billion dinars
2- That the major shareholders contribute with the new board of directors to the success of the capital increase process, taking advantage of the facilities approved by the Central Bank to complete the capital increase
3 - That the board of directors do everything necessary to return the company to trading on the Iraq Stock Exchange
4- Stopping the implementation of all judicial decisions against the bank for a period of one year
5- That the bank proceed, after a month of its start of work, to pay the money of deposited persons at a rate of 5% of their money every month, provided that the full amount is paid within a maximum period of two years THIS IS THE BIG ONE TO ME!
6- After paying the deposited persons' money, a plan is set to pay the state departments and the creditor companies
7 - The central bank undertakes a plan to rehabilitate the bank and that everything is done in cooperation between the bank’s board of directors and the central bank and under its supervision
I hope everyone will cooperate to save this bank, which was a pioneer in everything
Greetings to all

Dr. Alaa Al-Mousawi
President of the Investors Association of the Iraq Stock Exchange"

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  • 5 months later...

Found something new about warka in fb...posted yesterday 20 Apr. Make of it what you will, not like we haven't heard this or similar before.

https://www.facebook.com/groups/783060431793021/

Posted by Jawad Al-Hilfi

Results of the interview today...
Things are positive, God willing
Al-Warka Bank has applied to the central bank to facilitate a currency and return to auction and to raise legal cases between them.
This is required with the approval of all districts in the central bank
000
The Directorate of Banking and Credit, represented by its manager, has submitted a request to approve the bank's work to all the departments
Waiting for approval of this

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13 hours ago, NMP2017 said:

Found something new about warka in fb...posted yesterday 20 Apr. Make of it what you will, not like we haven't heard this or similar before.

https://www.facebook.com/groups/783060431793021/

Posted by Jawad Al-Hilfi

Results of the interview today...
Things are positive, God willing
Al-Warka Bank has applied to the central bank to facilitate a currency and return to auction and to raise legal cases between them.
This is required with the approval of all districts in the central bank
000
The Directorate of Banking and Credit, represented by its manager, has submitted a request to approve the bank's work to all the departments
Waiting for approval of this

One of the largest private banks with the largest atm network 

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On 10/25/2020 at 11:38 PM, SONIA1 said:

The best way to do it is to contact us embassy in Baghdad and let them help us..

 

https://iq.usembassy.gov/embassy-consulates/baghdad/

 

you would be a fool if you think that these Embsy folks would do anything to help us.   They are programmed, trained and told not to talk about this kind of stuff that has been occurring for many many years.    You think that they would have already done something in almost 20 years that Warka has been taking and holding peoples funds yet they are silent just like the rest of the corrupted usa and all of its political so called leaders.    Its the biggest fraud scheme in history.     The cabal is protecting banks like CITI who was used to set up most accounts with warka bank yet you never hear a peep from the OCC office of comptroller of currency in the USA.      

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  • 6 months later...

Posted today by a couple Iraqis, on an Iraqi Warka FB page. Mansour is an Administrative district of Baghdad according to Wikipedia. No idea if true or not so take it with a grain of salt:

"the management of Al-Worka Bank has moved to its new place in Mansour near Kebab Mohammed Restaurant"

And by another Iraqi poster in the same thread:

"They moved and are waiting for a loan from Al-Rafidine Bank. Everything is fine, God willing."

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  • 1 month later...

I got this email from the CBI this morning, 28 Dec 2021. Nothing new, the same bs the said YEARS ago. They are like ostriches with their heads stuck in the sand hoping if they ignore everyone we will go away...


"Dear Mr. XXX, Referring to all your recent emails, we would like to inform you that Warka Bank will schedule the payment of its depositors' dues after holding the general assembly meeting, i addition to practicing all banking activities and business, achieving appropriate revenues, and activating the bank's rehabilitation plan. Meanwhile you can contact the above bank via the email below: ccu@warka-bank-iq.com"

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On 12/28/2021 at 5:02 AM, NMP2017 said:

I got this email from the CBI this morning, 28 Dec 2021. Nothing new, the same bs the said YEARS ago. They are like ostriches with their heads stuck in the sand hoping if they ignore everyone we will go away...


"Dear Mr. XXX, Referring to all your recent emails, we would like to inform you that Warka Bank will schedule the payment of its depositors' dues after holding the general assembly meeting, i addition to practicing all banking activities and business, achieving appropriate revenues, and activating the bank's rehabilitation plan. Meanwhile you can contact the above bank via the email below: ccu@warka-bank-iq.com"

At least they still exist... That's good news!... LOL

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9 hours ago, 64jaguar said:

At least they still exist... That's good news!... LOL

True and NOW they got 3 months to sh*t or get off the pot! Praying the CBI don't give out any time extensions or allow delays. I think doing so would hurt their Reform Plan (the cbi plan not the infamous warka "get well plan")

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  • 2 months later...

Recent post of the fb page - "My dear contributors and shareholders, I have a good and uncertain news. The return of Al-Wurka Bank to normalcy and the meeting in Amman during the week. I hope those in the relationship enlighten us. May Allah protect you."

I'm hopin and prayin it be true! END O'MARCH my friends! 🙏🙏🙏

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  • 1 month later...
On 3/4/2022 at 7:56 PM, NMP2017 said:

Recent post of the fb page - "My dear contributors and shareholders, I have a good and uncertain news. The return of Al-Wurka Bank to normalcy and the meeting in Amman during the week. I hope those in the relationship enlighten us. May Allah protect you."

I'm hopin and prayin it be true! END O'MARCH my friends! 🙏🙏🙏

Well, Any new news out of FB about our Lovely Bank. 

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  • 10 months later...

Posted this morning on the Iraqi Warka FB page:

"I received an up to date account statement and Omar said that they couldn't give me a new password as the system was being updated. He also said Warka would be opening for business soon. Nothing else."

Sadly he uses that infamous word "soon" lol

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2 hours ago, NMP2017 said:

Posted this morning on the Iraqi Warka FB page:

"I received an up to date account statement and Omar said that they couldn't give me a new password as the system was being updated. He also said Warka would be opening for business soon. Nothing else."

Sadly he uses that infamous word "soon" lol

:twothumbs:

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  • 4 months later...
  • 4 months later...

This was posted today and the document is dated 2/11/2023 according to an Iraqi. Looks like Warka has increased their capital to a little more than $209 million USD (at 1300-1). Here's hoping it's the beginning of re-opening!

I included the doc in arabic as well as the translation posted on fb and a google translation I did

Here's hoping and praying for the best!

 

 

Nov 15 2023 1.jpg

Nov 15 2023 2.jpg

Nov 15 2023.jpg

Edited by NMP2017
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