Warka was sold last week?

[cvsim83]

Frank of KTFM stated that Warka was sold last and look for it to reopen....

Does anyone has ANY info about this????

Thanks

[adontik]

I am a Warka customer and have not received any statement that they were sold and their site does not make any mention either.

Peace

[Soldier]

Funny, I just mentioned something about this bank being a problem child.

[VIZIOIRAQI]

WARKA IS NOT SOLD , AND THEY ARE CLOSED TILL THE 21TST BECAUSE OF EID

[Steelwire]

My understanding is that there is a deadline on Dec 1st that Iraqi Banks needs 150 Billion (iqd) in assets to keep their doors open and stay in business. So we could see buy outs or merges occurring........don't think you need to worry ....JMO

[Frank61]

My understanding is that there is a deadline on Dec 1st that Iraqi Banks needs 150 Billion (iqd) in assets to keep their doors open and stay in business. So we could see buy outs or merges occurring........don't think you need to worry ....JMO

I agree. I suspect they merged with Citibank, which would be the most logical conclusion.

[pegasus0ne]

I just read the chat with ali of dinartrade and he said that warka is really unstable right now and recommends pulling out any funds and buying cash.

I'm sure that's a business man talking his way into more business, but there have a couple sources now that are reporting info on Warka that are making me somewhat leary.

Is there any hard intel on what's going on with Warka...I have written letters but I'm receiving no responses from them and when I opened my account in september they were all over it....I had great service and email responses within the day.

Getting a little nervous about Warka and would love to hear if anyone knows anything.

pegasusone

[radar47]

I just read the chat with ali of dinartrade and he said that warka is really unstable right now and recommends pulling out any funds and buying cash.

I'm sure that's a business man talking his way into more business, but there have a couple sources now that are reporting info on Warka that are making me somewhat leary.

Is there any hard intel on what's going on with Warka...I have written letters but I'm receiving no responses from them and when I opened my account in september they were all over it....I had great service and email responses within the day.

Getting a little nervous about Warka and would love to hear if anyone knows anything.

pegasusone

Warka is closed until nov. 21 per their webite

[pegasus0ne]

Warka is closed until nov. 21 per their webite

hi radar....yes, i knew that...i was inquiring as to the banks status, solidity...concerned, as to why it doesn't have the necessary funds required by the CBI and it being sold...these are rumors that I would like some solid intel on...if anyone has any please post.

thanks

[tripthelight]

Funny, I just mentioned something about this bank being a problem child.

I just gave you a plus, Soldier, because I don't believe your statement warrants negatives. Sheesh, people!

In another thread from this morning, Ali said that Warka is a problem and that if you have money there, take it out. They are having problems. Here's the link to the interview with Ali from just last night:

Ali Interview Thread

[VIZIOIRAQI]

Warka Bank Hits Back at Rumours

Posted on 22 September 2010. Tags: Warka Bank

Warka Bank issued a statement on Wednesday refuting the rumours (click here for more details) that it was in financial difficulty:

Dear Warka Clients,

With regard to the rumors that have been circulating against our bank by ill competitors please note that our bank is well supervised and monitored by the highest financial authority in Iraq CBI and we operate under their firm guidelines and regulations where deposits are guaranteed by the CBI.

Best regards,

Warka Bank for Investment and Finance

[pegasus0ne]

Warka Bank Hits Back at Rumours

Posted on 22 September 2010. Tags: Warka Bank

Warka Bank issued a statement on Wednesday refuting the rumours (click here for more details) that it was in financial difficulty:

Dear Warka Clients,

With regard to the rumors that have been circulating against our bank by ill competitors please note that our bank is well supervised and monitored by the highest financial authority in Iraq CBI and we operate under their firm guidelines and regulations where deposits are guaranteed by the CBI.

Best regards,

Warka Bank for Investment and Finance

Vizio...thank you for the reminder.

I was aware of the backroom tactics that were perpetrated on Warka a few months ago and what they did to refute the rumors....I completely forgot. I guess hanging out with my 89 year old mother with her dementia is rubbing off on me...

....so with this then, there is no foundation for the new rumors, or are these posters just behind the times and affected by the rumors to the point that they can't get past them???

Just wondering what's going on currently with Warka, can't seem to get them to reply in a decent time frame....and yes, I'm aware of this weeks closures for the holidays...

thanks for the input guys....appreciated

pegasusone

[one4dinar]

I just read the chat with ali of dinartrade and he said that warka is really unstable right now and recommends pulling out any funds and buying cash.

I'm sure that's a business man talking his way into more business, but there have a couple sources now that are reporting info on Warka that are making me somewhat leary.

Is there any hard intel on what's going on with Warka...I have written letters but I'm receiving no responses from them and when I opened my account in september they were all over it....I had great service and email responses within the day.

Getting a little nervous about Warka and would love to hear if anyone knows anything.

pegasusone

Ali is trying to buy United Bank in Iraq. Warka Bank is one of his competitors. Buying cash, from DinarTrade??? There's your answer.

[MANNY99]

Ali is trying to buy United Bank in Iraq. Warka Bank is one of his competitors. Buying cash, from DinarTrade??? There's your answer.

I do agree with you . so Ali wants us to pull our money from warka and put our money in his imaginary bank.

so he is telling every one that warka has no 150 billions but ali has it?

[rellum]

i highly suggest to do your own research of both parties involved . so far warka is not looking good from dubai stand point . ask yourself why warka wont open any branches in the united states. just my 2 cents

[Frank61]

I do agree with you . so Ali wants us to pull our money from warka and put our money in his imaginary bank.

so he is telling every one that warka has no 150 billions but ali has it?

Just another rumor about warka. I deal with them and find them to be a solid bank. They are owned by the Al Bonia family.

warka.pdf

[MANNY99]

i highly suggest to do your own research of both parties involved . so far warka is not looking good from dubai stand point . ask yourself why warka wont open any branches in the united states. just my 2 cents

not only warka, but if you do your own research you will find out that there is no iraqi bank open as yet in the us, and the reason behind it is chapter 7.

[Frank61]

i highly suggest to do your own research of both parties involved . so far warka is not looking good from dubai stand point . ask yourself why warka wont open any branches in the united states. just my 2 cents

Why on earth would Warka open a branch in the USA ??

[rellum]

Why on earth would Warka open a branch in the USA ??

because i dont trust any bank, banker , politicians . can you get the picture . all i am saying ,watch and dig into both parties . only giving you 2 knuckle heads advise , instead you are looking into discrediting folks statements . have a good dinar life

Edited November 20, 2010 by rellum

[4aprofit]

Someone said recently they were either being bought by, or merging with Citi Bank?

[ha ha]

Lets hope and pray that the Citi takeover of Warka becomes a reality for the sake of all the investors like myself. They have not even post my annual interest yield into my saving Account since October 2009. Mr I did not addres my concerns in his weak response to this issue. All he said was that the year 2010 have not ended yet. Warka responses to custumer's concern have been based on their mood rahter than on custumer's eagerness to know whats is going on. Their customer services is at its worst at the moment.

[zantac]

For your information Warka was approached for a take over bid from the HSBC (Hong Kong Shanghai Banking Corporation)

The take over bid was flatly rejected & I believe another offer is on the table, until then don’t panic.

In all honesty if HSBC do take over Warka anyone with an Account will be far better of than you may think, this is excellent news if you have stocks, accounts or any other investment in Warka

Don’t let the Rumours get you down

HSBC is ranked number 3 in the largest bank holdings in the world & CITIGROUP are number 10, CITIGROUP placed a bid for Warka takeover & got told to go away politely

[Frank61]

For your information Warka was approached for a take over bid from the HSBC (Hong Kong Shanghai Banking Corporation)

The take over bid was flatly rejected & I believe another offer is on the table, until then don’t panic.

In all honesty if HSBC do take over Warka anyone with an Account will be far better of than you may think, this is excellent news if you have stocks, accounts or any other investment in Warka

Don’t let the Rumours get you down

HSBC is ranked number 3 in the largest bank holdings in the world & CITIGROUP are number 10, CITIGROUP placed a bid for Warka takeover & got told to go away politely

Thanks for the update.

[War Eagle]

Warka Bank sold 20-25 % of their stock to Citi Bank;They are now in the process of selling another 20-25 % to another foreign Bank. No foreign company can own more than 49 % of an Iraqi company. Saad Al-Bunnia will still control Warka Bank,and they are in GOOD financial shape.There was a problem awhile back when the goverment pulled a LOT of state money from Warka Bank,causing a temporary cash flow.The Bunnia family is Sunni,and as you all know,the Iraqi goverement under maliki is 100 % Shia. Politics gets down and dirty" in Iraq,too.

[mi17mech]

Funny, I just mentioned something about this bank being a problem child.

I as well brought this up a couple of weeks ago. When the people of Iraq don't use the bank think about it.