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How to invest in the ISX


Adam Montana
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  • 1 month later...

Sent in my request to open a Savings accout to Mr.I friday evening, (Saturday their time) received a confirmation and a very nice welcome from Mr. I on Sunday our time. Very impressed with the quick response from Iraq, and I thank you guys for your step-by-step instructions.

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  • 1 month later...
Well, it looks like this topic is going to get some participation - that's awesome!

Here's a good place to start, I wrote an article a bit ago on investing in the ISX. See it here: http://dinarspeculation.com/did-you-know/how-to-invest-in-the-iraqi-stock-exchange/

Thanks Adam, I am happy to see this topic with it's own spot.

I am just now getting my passport straightend out. State Dept would not accept my OLD birth certificate so I had to apply for a new one. Has been a hassle, but looks like I am on the home stretch now. I can hardly wait to get involved with the ISX. I really don't know what to do next, after I get the Arab Chamber of Commerce requirements met. I am totally in the dark from that point onward. I trust with what you are doing and with this topic, I will be able to work through it soon enough. I will check out the link above as well.

I have had an account with Warka since '05 and I am very impressed how far they have come with their customer service and responsiveness. I am now getting replies to my inqiuries via email in one day most often.

I am in the process of applying for the MasterCard debit card attached to my dinar savings account. I had questions so I circled the things that need clarification on the form and returned it. I had the info I needed overnight. Unlike the month or two or longer that was the norm early on. I am real happy with Warka and the service I am getting. For some reason, I have no fear about my money being safe and accessable. I do hope I am right on with this frame of mind, but I do feel at peace about it in spite of there being nothing similar to the FDIC in place in Iraq. I don't have faith in my own governement, so the FDIC leaves me feeling no more "covered" than Joe Mo the camel rider in Timbuk, Iraq.

May God bless your endeavors,

Rex

rabidrex

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As part of my Iraqi investment strategy, 2 1/2 years ago I diversfied by opening up a Warka account. Of the Warka amount, about 60% was IQD and 40% I put into ISX stocks (mostly the banking sector). Mind you, my experience is when the stocks were purchased under proxy, things could be different now buying under your name and or "electronic tradeing".

About 14 months ago (Nov. 2008) I needed some money, so I decided to sell about 2/3 of the stocks. Little did I know that it wasnt a quick proposition. Some stocks were sold within 4-6 weeks. The others I didnt think much of until 7 months after my initial sell order/email that another stock was sold. I had forgotten (more like given up) about it until last week I noticed on my Warka account that another stock had sold. 14 months after my initial stock sell order. (I looked at it as I just received "free" IQD.) Gotta love that Warka service. I do agree that the emails I get from them (when I email them first) is 100% better than what it was when I started with them.

So thinking about this this week, I decide to sell the remander of my ISX shares and email Mr. I. this request. And this is the reply I got, which I did not get with the first batch of stocks I sold.

The sell request will be submitted to the Iraqi Stock Exchange to be registered and uploaded in their system which according to the current process, procedures and time frame set by the Iraqi Stock Exchange requires them a minimum period of 40 days and once registered bids can be made to buy your shares where my department will keep you posted as shares are sold and funds credited to your account.

Has anybody else had simular responses and/or issues when selling ISX shares with Warka.

And if I can ask here (in the ISX thread), what about people getting money out of Warka, any issues? I know a few others have gotten wires from Warka, but I have not yet. (I am thinking to switch back from Warka to IQD in hand. But one of my concerns is that it all is owned over a year (long term capital gains potential) and might now be back to short term if exchanged and rebought as cash.)

BTW, in the 2 1/2 years I have owned the ISX shares, I have lost on the shares around 25% when I have sold. Again, that just my experience.

Thanks for sharing your experiences.

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i might have missed it is there a Post on step by step how to sell your ISX Stocks can anyone assist .. i have a Warka Account ..

KP, below is what I used to sell my shares. As usual with Warka, I filled in my info, printed it out, signed it, then scanned it in with my signiture, and emailed to both Mr I. and the ISX dept ( isx@warka-bank-iq.com ).

I, authorize Warka Investment Bank to sell all my shares in the below listed companies at the current market rate and deposit all sale proceeds into my IQD Savings Account #XXXXXX. It is understood between the parties that Warka Investment Bank shall receive 1% in the form of commission at the time when said shares/stocks are sold and their sale proceeds deposited into the mentioned account. The following ISX share/stock sell is to be executed for the trading day of if possible, or the soonest date that is possible.

Sell all owned shares from each of the company stocks below:

1. Company

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  • 1 month later...

As I was looking into the ISX on their daly market report, I saw at the bottom of the report that said this: There is no trading for Non Iraqis investors in this session. In other words, the market was open to citizens only.

Any thoughts on this?

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