Clarification from the Iraqi Central Bank - From Iraqi FB page

[NMP2017]

Para 1 VERY interesting to me! If true our money in Warka is GUARANTEED by the CBI! Wish the CBI would declare them bankrupt and give us our money!

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

Clarification from the Iraqi Central Bank

Mazen Sabah Ahmed, the director general of the Department of Foreign Investments and Transfers, issued a clarification regarding the statements attributed to him to Reuters, that they included journalistic formations issued by the agency in an inaccurate format, Ahmed confirmed:
1. The Central Bank guarantees the deposits of the dollar and the citizen who has deposited his money in the dollar with any Iraqi bank before or by 2024 a genuine right to receive these amounts in cash and in the US dollar.
2. In the press conference, expectations of the exchange price reaching 1700 were not mentioned, and that the central bank has the tools it uses to reduce the difference between the two prices, and there are no indicators of the parallel market reaching this level, on the contrary, there are measures to be taken that will contribute to reducing the difference.
3. The reforms carried out by the Iraqi Central Bank aim to ensure the Bank and the banking system's compliance in general with international standards, and thus without the dollar reaching parties that are prohibited from obtaining or challenging it.
4. The declaration that the date of 1 - 1 2024 will be the beginning of the cessation of cash withdrawal includes remittances imported only from outside Iraq under certain arrangements that ensure sustainability of business and does not in any case include crediting citizens with the US dollar.

The Iraqi Central Bank

[NMP2017]

I wonder if the CBI won't say Warka is bankrupt because then they'd have to pay depositors our money...not like the CBI doesn't have the reserves to do so!

[Steelwire]

Is it possible that their not bankrupt and will be open after an official

International rate?

[NMP2017]

that could very well be the case Steelwire. Maybe Warka just doesn't have the $250 million minimum or whatever amount the CBI wants banks to have now. I know I've been told a few times since 2018 by the CBI that Warka has our money, has commercial properties, and will re-open after completing whatever the CBI said they had to complete and then their General meeting.

 

Hopefully some day we will find out! 😁

Edited October 7, 2023 by NMP2017

[haymon]

Hope before I die...

[6ly410]

Go WARKA 👍👍

[Steelwire]

On 10/7/2023 at 2:04 PM, NMP2017 said:

that could very well be the case Steelwire. Maybe Warka just doesn't have the $250 million minimum or whatever amount the CBI wants banks to have now. I know I've been told a few times since 2018 by the CBI that Warka has our money, has commercial properties, and will re-open after completing whatever the CBI said they had to complete and then their General meeting.

 

Hopefully some day we will find out! 😁

Thanks for your response NMP2017.....Hoping for the best.

[NMP2017]

1 hour ago, Steelwire said:

Thanks for your response NMP2017.....Hoping for the best.

Hey Steelwire did ya see my post from last wednesday? Looks like Warka has increased their capital to $271 billion! NOW things should get interesting! What more does the CBI want them to do?

 

 

[Knuckles]

So, makes me wonder "IF" they are willing to refund $$ to outside depositors, they may be trying to reduce the payout from a revalue?

Any feedback + or - welcome

 

15 years and waiting,

[screwball]

On 11/28/2023 at 8:13 AM, Knuckles said:

So, makes me wonder "IF" they are willing to refund $$ to outside depositors, they may be trying to reduce the payout from a revalue?

Any feedback + or - welcome

 

15 years and waiting,

What happens to all the non Iraqi investors after a rv? Considering over 90% of customers were foreigners how do you prevent a run on the bank?

[6ly410]

Warka is down - https://www.warka-bank.com

[NMP2017]

5 hours ago, screwball said:

What happens to all the non Iraqi investors after a rv? Considering over 90% of customers were foreigners how do you prevent a run on the bank?

I've always said that when Warka re-opens for business they would have to limit the amount we can withdraw to prevent a run on the bank. Limiting withdrawals to say 5% of a clients account balance per month would give Warka and the CBI 20 months to... but we shall see what happens...hopefully lol

 

Still hopin and prayin God makes it happen...

[NMP2017]

On 11/30/2023 at 12:06 PM, 6ly410 said:

Warka is down - https://www.warka-bank.com

Domain name expired....again. 30 Nov 2023

[Steelwire]

Last night I took a listen to Frank26 last CC. He had a Q&A period at the end. One of the questions was about Warka Bank. I'm not sure how the question was presented. At the time, I wasn't able to rewind the video because of being occupied with other circumstances. Frank surprisingly responded, he usually has no comment when Warka is brought up. He said that Warka and Citi Bank is working together, that Warka will be here after the RV. Now I plan on going back and listen again but haven't had a chance yet ...... Thought I'd share. 

[NMP2017]

uufffff! I pray it happens before the rv cause iraq will always find a way to shoot itself in the foot! Even they don't know what they are waiting for and why they haven't done it yet! They got a bazillion dollars and mega-tonnes of Gold in the bank, how much more do they want before pushing the button?