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SexyDinar

Warka Bank info...........UPDATE

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I have sent an email to Warka Bank.................see below:-

Dear Mr,

Please can you confirm if these reports are true about Warka Bank appearing in the media?

REPLY

Dear Sir,

To make things short and simple yesterday our Managing Director Mr.

Al-Samarai held a press conference where all the heavy Media and Press

attended putting an end to all the rumors that are circulating where he

confirmed the support of the CBI as well displaying and discussing our

assets, finances, investments confirming that we are the largest private

bank in the country.

Best regards.

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I have sent an email to Warka Bank.................see below:-

Dear Mr,

Please can you confirm if these reports are true about Warka Bank appearing in the media?

REPLY

Dear Sir,

To make things short and simple yesterday our Managing Director Mr.

Al-Samarai held a press conference where all the heavy Media and Press

attended putting an end to all the rumors that are circulating where he

confirmed the support of the CBI as well displaying and discussing our

assets, finances, investments confirming that we are the largest private

bank in the country.

Best regards.

FURTHER UPDATE

Dear Mr ,

Further to your email, can you confirm that my deposits held at Warka Bank

are safe and you as a bank are not going to go bankrupt. Also, will you be

putting something in the news section of your website to ensure all account

holders are brought up to date with the current position with Warka Bank and

there money.

REPLY

Dear Mr.,

No bankruptcy shall take place where it is important to note that in

accordance with the regulations set and applied throughout the entire Iraqi

banking industry there is no insurance on deposits and this is the general

law currently implemented in Iraq and set for all banks.

No news will be posted on our site as the press conference held by our

managing director in the media and press is official confirmation of our

financial status and position.

Best regards,

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there is no insurance on deposits :(

The main reason not to put money into Iraqi banks……. Just glad I researched and realized it was to risky to put money in banks over in Iraq.

I hope all turns out well for those who put money in Warka.

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FURTHER UPDATE

Dear Mr ,

Further to your email, can you confirm that my deposits held at Warka Bank

are safe and you as a bank are not going to go bankrupt. Also, will you be

putting something in the news section of your website to ensure all account

holders are brought up to date with the current position with Warka Bank and

there money.

REPLY

Dear Mr.,

No bankruptcy shall take place where it is important to note that in

accordance with the regulations set and applied throughout the entire Iraqi

banking industry there is no insurance on deposits and this is the general

law currently implemented in Iraq and set for all banks.

No news will be posted on our site as the press conference held by our

managing director in the media and press is official confirmation of our

financial status and position.

Best regards,

your next email to them should read.....how can i get my money out of your bank.....and i pray you can

Edited by audrey williams

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your next email to them should read.....how can i get my money out of your bank.....and i pray you can

You just execute a wire transfer. The whole investment is a risk. There are also no guarantees with holding physical currency which is why Adam stated that you should be diversified with this investment, that means cash, a bank account, and ISX just because we do not know its going to play out. I never got into the ISX because I'm not at a place where I can get this set up but I do have both cash and a bank account. That's the risk you take.

If they give people a set time on cashing in, all the warka people will be blabbing about they are glad they got rid of their cash blah blah blah. The point is we don't know what they will do and the risk is very real.

Edited by quadraph0nic
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there is no insurance on deposits :(

The main reason not to put money into Iraqi banks……. Just glad I researched and realized it was to risky to put money in banks over in Iraq.

I hope all turns out well for those who put money in Warka.

I only have 25% of my holdings at Warka, This was my hedge against anything funky with the RV

EVERYONE Do what is Right for YOU!

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I have minimal in warka and it is only what I could afford to lose. Maybe it is true or maybe it is not. I resent the pack mentality of people now making a run on the bank only exasperating the possible problem and actually causing a larger problem out of what may have only been a smaller problem. This is partly why our own stock market was so volatile. Amateurs causing huge swings based on rumor. The sky is falling, brake down the doors and get our money quick. Burn the bank down! Holy Cow!

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I have minimal in warka and it is only what I could afford to lose. Maybe it is true or maybe it is not. I resent the pack mentality of people now making a run on the bank only exasperating the possible problem and actually causing a larger problem out of what may have only been a smaller problem. This is partly why our own stock market was so volatile. Amateurs causing huge swings based on rumor. The sky is falling, brake down the doors and get our money quick. Burn the bank down! Holy Cow!

I also have a small percentage in the bank and will roll the dice with it there as well. I have no intention of trying to remove my deposit! It's a gamble, but being diversified is the first rule of investing!

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there is no insurance on deposits sad.gif

The main reason not to put money into Iraqi banks……. Just glad I researched and realized it was to risky to put money in banks over in Iraq.

I hope all turns out well for those who put money in Warka.

Yes and I hope those who are cashing in and place funds in US Banks do not get their funds frozen or seized - or that their banks do not go under. FDIC has a limit too. It is failing from what I hear. Maybe we should all hold and hide gold when we cash in ... laugh.gif

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Yes and I hope those who are cashing in and place funds in US Banks do not get their funds frozen or seized - or that their banks do not go under. FDIC has a limit too. It is failing from what I hear. Maybe we should all hold and hide gold when we cash in ... laugh.gif

My backyard stronghold is looking real good about now! :):):)B)

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Wow so many rumors and it is only Monday.... come on everyone we have come this far dont bail out yet.... Let things play out. This whole thing is a risk you all knew that when you got in... Patience....

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there is no insurance on deposits :(

The main reason not to put money into Iraqi banks……. Just glad I researched and realized it was to risky to put money in banks over in Iraq.

I hope all turns out well for those who put money in Warka.

The FACT that there is NO INSURANCE for your deposits in a WARKA account has been known and stated here on DV since I joined - it is NOT NEWS! There have been MANY post about that FACT......why is this news to you now?

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If you have a chance TAKE YOUR MONEY OUT! When they say that every thing is fine you have to worry about it. With no insurance they can close the doors and Bye Bye.

Good luck to all.

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If you have a chance TAKE YOUR MONEY OUT! When they say that every thing is fine you have to worry about it. With no insurance they can close the doors and Bye Bye.

Good luck to all.

NO DuH! Exactly the mentality I am talking about! Smash the cash machines, my money is in there.Hurry!

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there is no insurance on deposits :(

The main reason not to put money into Iraqi banks……. Just glad I researched and realized it was to risky to put money in banks over in Iraq.

I hope all turns out well for those who put money in Warka.

You didn't know that??? It's all a risk. Also, here in the US banks failing every day and FDIC insurance on shaky grounds. More banks that fail less bank deposits for FDIC.

LINK: http://www.google.com/hostednews/afp/article/ALeqM5hSg4FLy01YtT6zntV7lQQxVlA2jA

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Wow so many rumors and it is only Monday.... come on everyone we have come this far dont bail out yet.... Let things play out. This whole thing is a risk you all knew that when you got in... Patience....

I second that! :D

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Most offshore banks are not insured, That is not new.I am in warka for the long haul. If ti goes south with my money I will take the rv ed amount as a loss on taxes against the paper I hold. not what I want but still OK and making money. STAY CALM It's what you make of it.

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You guys should read the article that chief posted and then the article that k98 posted. The one woody posted replaced chiefs article on aknews as its current.

Its sounds like there is a cash shortage and or combination of a possible rumor was started and this generates a big run on the bank.

In the current story it talks about some large withdrawals. I wonder why that is and if those withdrawals were done in cash? If it was, no wonder they are out of cash. I'm talking physical cash. Our money is electronic.

So is their a cash shortage? Warka is the largest and I would think one of the most if not the most advanced bank in Iraq. A lot of people doubt their credibility and I can not argue with that.

However, I think that CBI needs to quit messing around, push those small denoms out there, and revalue the DINAR!

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You guys should read the article that chief posted and then the article that k98 posted. The one woody posted replaced chiefs article on aknews as its current.

Its sounds like there is a cash shortage and or combination of a possible rumor was started and this generates a big run on the bank.

In the current story it talks about some large withdrawals. I wonder why that is and if those withdrawals were done in cash? If it was, no wonder they are out of cash. I'm talking physical cash. Our money is electronic.

So is their a cash shortage? Warka is the largest and I would think one of the most if not the most advanced bank in Iraq. A lot of people doubt their credibility and I can not argue with that.

However, I think that CBI needs to quit messing around, push those small denoms out there, and revalue the DINAR!

Nice post Quad, your right thought people just need to read everything and relax.

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