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Adam Montana

How to invest in the ISX

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Are we still able to open Warka accounts being it was said that you can't ship FEDEX to Iraq anymore?

Good question! I am wondering the same thing. Can anyone update us on what delivery service we can use to send documents to Warka? Thanks!

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Hey just wondering if the address is correct? 972 Mt Holly Dr is a small house on that street!!!!!!!!!!

To all who may wonder... UPDATE JUNE 2010

The Mt Holly Drive address is correct. I just received my certified documents from them :D

Cheers!

FloridaChick

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About 10 minutes ago I called (410-757-5544) the number to the Arab American Chamber of Commerce listed in how to set up an ISX Account and I was told that the address listed on Mt. Holly was the old address. The address is: 1615 Bay Head Road Annapolis, MD 21409. Just an FYI

The reason for the call was in the instruction under Step 2 it says ID and passport. In all my other dealings with Warka it states ID or passport. When speaking with the gentleman at AACC he stated that it was up to Warka Bank if they accepted just the ID. Most people have been sending both. I emailed Warka Bank and awaiting a response. In the meantime if anyone has opened an ISX account can you tell me whether you sent your passport as well.

Thank you

Ira

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About 10 minutes ago I called (410-757-5544) the number to the Arab American Chamber of Commerce listed in how to set up an ISX Account and I was told that the address listed on Mt. Holly was the old address. The address is: 1615 Bay Head Road Annapolis, MD 21409. Just an FYI

The reason for the call was in the instruction under Step 2 it says ID and passport. In all my other dealings with Warka it states ID or passport. When speaking with the gentleman at AACC he stated that it was up to Warka Bank if they accepted just the ID. Most people have been sending both. I emailed Warka Bank and awaiting a response. In the meantime if anyone has opened an ISX account can you tell me whether you sent your passport as well.

Thank you

Ira

You should be fine with just your passport.

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I sent all the neccessary paperwork and cashiers check to the Mt Holly address months ago and apparently it is not the right address as I never received a response and gave up. Maybe I will try again with the new address.

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Adam, there appears to be viruses within the "Legal Declaration for ISX Form" area when trying to access this form. I don't know if it is just a software glitch or what but my software says it is a virus?

_Bob_

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Trying to get into the ISX, the info here says I only have to pay $103.00. I went to http://www.iraqembassy.org/ where it states in part.

Embassy of Iraq is located at:

3421 MASSACHUSETTS AVENUE, NW 20007

Tel: 202-742-1600 Fax: 202-462-5066

US Legalization provides expedited legalization services to certify documents from the Embassy of Iraq

Notarized Documents:

It is preferred that the document is certified from the Secretary of the State in which the notary is licensed. In urgent cases when the customer needs the document immediately, US Legalization will authenticate the signature of the notary, certify this authentication from the MD clerk of the court, MD Secretary of State, US Department of State and the Embassy of Iraq

(Does not apply with personal documents)

Charges for 5 business days service: $258 for the first document, $203 for each additional document. Details

Documents certified by the Secretary of State, OR Federal Documents (FDA, USPT) :

US Legalization will authenticate the document from the US Department of State and the Embassy of Iraq

Charges for 5 business days service: $248 for the first document, $208 for each additional document. Details

Question: Has anyone recently done this? How much is it?

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Can anyone tell me what I need to do after step 3 of investing in the ISX? Can someone also provide me with any information on what stocks are available to purchase and what the procedure is to purchase stock. I apologize in advance if this is listed somewhere but I attempted to look but I did not see anything.

Vanessa

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Step 2:

Send the following items to the Arab American Chamber of Commerce:

• Your notarized Legal Declaration for ISX Form

• A copy of your ID and Passport

• A prepaid return envelope (Use FedEx for tracking purposes)

• A money order for either $103 (personal investing) or $258 (business investing).

The address is:

Arab American Chamber of Commerce

Certification Department

1615 Bay Head Road Annapolis, MD 21409

Tel: (410) 757-5544 or 1 888 999 5991

Is it a copy of both ID and Passport? Or just a copy of ID and physically send your Passport?

A prepaid return envelope. So we send via FEDEX and include a prepaid FEDEX return envelope?

- I want to be sure since I am sending from US base in Iraq.

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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/

Adam,

I am obviously new to all the investment stuff and found this add on the Warka site and did'nt understand how the whole investment worked regaurding the91% free shares and 53% paid up shares at the price of IQD (1) per share.? Can you explain how this works, that's providing I can get my account opened in time?

Dear Warka Investors, Iraqi Land Transportation has announced that it will be issuing: 91% free shares and 53% paid up shares at the price of IQD (1) per share for those shares owned prior to holding its general assembly meeting. Shareholders are kindly requested to submit their signed authorization letters to purchase the paid up shares by January 25th 2011 and any request received after this date will be considered null and void by our bank. Please send your signed requests to our ISX department isx@warka-bank-iq.com Best regards, ISX Department Warka Bank for Investment and Finance

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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.

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.

You must remember this is not the Dow Jones, Nasdaq or any other exchange that been established for years. The ISX has to find buyers that want to buy the stocks you have for sell. Here in the US there are million of buyers and sellers.

I think too many people forget that this is a frontier market. The ISX has made great progress but still have a long way to go. The reason why everyone is trying to join the ISX is because of the potential of getting in on the ground floor, low prices for Iraqi stock and along with those benefits comes slowness of stock sales and slow response time.

Losing 25% on your stock is not the ISX fault, the ISX has gone up and down as to be expected when Iraq didn't have a seated gov. for 8 months and other related issues a rebuilding country has. Losing 25% also depends on how much you purchased your stock for. Did you pay too much or pick the wrong stocks? You were the one that decided when to sell. Going into the ISX, in my opinion, should be with a long term investment in mind.

Edited by one4dinar
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You must remember this is not the Dow Jones, Nasdaq or any other exchange that been established for years. The ISX has to find buyers that want to buy the stocks you have for sell. Here in the US there are million of buyers and sellers.

I think too many people forget that this is a frontier market. The ISX has made great progress but still have a long way to go. The reason why everyone is trying to join the ISX is because of the potential of getting in on the ground floor, low prices for Iraqi stock and along with those benefits comes slowness of stock sales and slow response time.

Losing 25% on your stock is not the ISX fault, the ISX has gone up and down as to be expected when Iraq didn't have a seated gov. for 8 months and other related issues a rebuilding country has. Losing 25% also depends on how much you purchased your stock for. Did you pay too much or pick the wrong stocks? You were the one that decided when to sell. Going into the ISX, in my opinion, should be with a long term investment in mind.

I agree. The ISX is the place to be and will continue to be a work in process and a work in progress.

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to set up to invest in the isx what is the correct address for the arab american chamber of commerce? there is a different address than the one in adams book?thanks everyone

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Hi all, IMHO do yourself good by going thru the iraqi embassy way. I know it's more up front cost but I think it's a safer route to go. That's the way I went and I'm glad I did it. I did some reserach on the address for the Arab Commerce through google maps and I felt reluctant to send anything to that address. You could look it up yourself, to me it looked like a farmhouse compound. Now it might be legit but I didn't want to chance it with my documents.

And for the earlier post about sending your actual passport. Do not send it!!! Send a copy of it.

I hope this helps!!!

Enjoy,

Fufat

Go Rv!!!!!!

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Ok, stupid question. The form states to sign in three places. Am i to assume that Isign it three times in a row or do I sign then two other people in front of the notary?

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Ok, stupid question. The form states to sign in three places. Am i to assume that Isign it three times in a row or do I sign then two other people in front of the notary?

It's not a stupid question. You need to sign your own signature three times. I'm pretty sure they use it for comparison purposes. Hope this helps.

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You must remember this is not the Dow Jones, Nasdaq or any other exchange that been established for years. The ISX has to find buyers that want to buy the stocks you have for sell. Here in the US there are million of buyers and sellers.

I think too many people forget that this is a frontier market. The ISX has made great progress but still have a long way to go. The reason why everyone is trying to join the ISX is because of the potential of getting in on the ground floor, low prices for Iraqi stock and along with those benefits comes slowness of stock sales and slow response time.

Losing 25% on your stock is not the ISX fault, the ISX has gone up and down as to be expected when Iraq didn't have a seated gov. for 8 months and other related issues a rebuilding country has. Losing 25% also depends on how much you purchased your stock for. Did you pay too much or pick the wrong stocks? You were the one that decided when to sell. Going into the ISX, in my opinion, should be with a long term investment in mind.

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