Warka Questions

[travels]

I have a Warka account. I have several questions.

1. What is up with their homepage? It is grossly out of date, and now even the English version is full of Arabic text.

2. When there is an RV, do we have to do anything with our dinar savings account to protect anything?

3. How likely is it that we can get our money out?

Thanks.

[Frank61]

I have a Warka account. I have several questions.

1. What is up with their homepage? It is grossly out of date, and now even the English version is full of Arabic text.

2. When there is an RV, do we have to do anything with our dinar savings account to protect anything?

3. How likely is it that we can get our money out?

Thanks.

Why dont you contact Warka and ask them ??

[oildriven]

Really, wouldn't you want to know all that before you open'd the accounts in the first place.

[travels]

Really, wouldn't you want to know all that before you open'd the accounts in the first place.

I followed Adam's advice and diversified some money into Warka. Was that a mistake?

[ha ha]

No, that was not a mistake. I have a Warka account and stock shares in Warka bank and two other banks for 3 years now. l have not received any interest yield in 2010, but l am very optimistic about the potentials. About getting out? l opened an account with Citi bank after l was told that the Citi and Warka are extremely closed. l intend to use the Citi account as a pipe to siphon my millions from Warka soon after RV. l intend to demand of Mr l to convert my dinar account to dollar current account and get out through the Citi bank @ $10k a day, Citi have a software to do the withdrawals five-days-a-week. The limit you can take out from Warka is $10,000 a day.

[swingdancer]

How did you open an account with Citi? I called to find a location near me and they could not even find any location. Please advise how you opened up your account with Citi to withdraw $10,000 a day from Warka . Thank you

[dskullhead]

No, that was not a mistake. I have a Warka account and stock shares in Warka bank and two other banks for 3 years now. l have not received any interest yield in 2010, but l am very optimistic about the potentials. About getting out? l opened an account with Citi bank after l was told that the Citi and Warka are extremely closed. l intend to use the Citi account as a pipe to siphon my millions from Warka soon after RV. l intend to demand of Mr l to convert my dinar account to dollar current account and get out through the Citi bank @ $10k a day, Citi have a software to do the withdrawals five-days-a-week. The limit you can take out from Warka is $10,000 a day.

I'm puzzeled as to why you haven't received any interest from your accounts this year... I thought the interest rate was something like 5% for IQD accounts...

[ha ha]

Thank you for your concerns. l drew Mr I's attention to this lapse, his response was that he will credit my account at the end of the year, 2010. In 2009, l got 4% interest yield on my bank savings. ln 2008, l got 7%.

[ha ha]

How did you open an account with Citi? I called to find a location near me and they could not even find any location. Please advise how you opened up your account with Citi to withdraw $10,000 a day from Warka . Thank you

As a citizen, it is very simple to open a checking account with Citi Bank at any branch near you with initials deposite of one or two hundred dollars. All US funds to Warka goes through the citi bank and all funds from warka to US comes through citi bank. As an account holder of Citi bank, it is like ledger-to-ledger, no problem. l live in the City of New York. the financial center of the World. Citi Bank Head Office is in Wall Street here in the NYC. Anyway my fellow investor, lets wait until RV happens before we make a move.

[War Eagle]

Warka pays interest in July, and January.You can also get a Debit Card and withdraw $1,000 a day cash,and purchases of $5,000 a day.

[travels]

Warka pays interest in July, and January.You can also get a Debit Card and withdraw $1,000 a day cash,and purchases of $5,000 a day.

I have been emailing anyone and everyone at Warka for several weeks about getting a card. Not one answer back. Some forum posters have stated their cards no longer work Have you checked yours lately?

Thanks.

Travels.

[dskullhead]

I have been emailing anyone and everyone at Warka for several weeks about getting a card. Not one answer back. Some forum posters have stated their cards no longer work Have you checked yours lately?

Thanks.

Travels.

Yes, it can be very frustrating alot of times trying to get a response from anyone at that bank...I usually email Mr. Issa with my concerns..but the person who handles the Debit cards is Sawsan Qader..Try sawsan@warka-bank-iq.com...

[Phoenix]

I have a Warka account. I have several questions.

1. What is up with their homepage? It is grossly out of date, and now even the English version is full of Arabic text.

2. When there is an RV, do we have to do anything with our dinar savings account to protect anything?

3. How likely is it that we can get our money out?Thanks.

Warka Update:

[Frank61]

Warka Update:

Most people who knock Warka bank are naive folks who either dont understand Warkas banking process or dont trust anyone. Why else would anyone put so much energy into bashing a perfectly good institution ?? Maybe they are mad because they dont $$ qualify ?? Just a thought..........

The Titanic film clip......some folks need to make better use of their time.

[Phoenix]

Most people who knock Warka bank are naive folks who either dont understand Warkas banking process or dont trust anyone. Why else would anyone put so much energy into bashing a perfectly good institution ?? Maybe they are mad because they dont $$ qualify ?? Just a thought..........

The Titanic film clip......some folks need to make better use of their time.

Facts:

1. Warka Bank stock is still on hold and not trading on the ISX after MONTHS being frozen.

2. Warka still has NOT done the new audits as instructed by the ISX after the ISX invesigators found serious flaws.

3. The BILLIONS of dollars in Warka deposits removed by the public and the GOI from Warka accounts has NOT been re deposited.

4. Warka still has NOT met the requirements set forward to meet the standards set forth by the GOI and the ISX and have stated themselves that the Warka Bank stock may never trade again.

5. People who have Warka debit cards are all reporting that the cards no longer work and these people cannot get in touch with anyone at Warka about the card failure.

Why do I point these things out?

I hope to stear the innocent away from harm.

Why do i do this?

Maybe it is the Boy Scout in me.

All I know is I am glad I do not have any money in a private Iraqi bank.

Best of luck to those that do.

I think you will need it!

Phoenix

Edited December 4, 2010 by Phoenix

[Frank61]

Facts:

1. Warka Bank stock is still on hold and not trading on the ISX after MONTHS being frozen.

2. Warka still has NOT done the new audits as instructed by the ISX after the ISX invesigators found serious flaws.

3. The BILLIONS of dollars in Warka deposits removed by the public and the GOI from Warka accounts has NOT been re deposited.

4. Warka still has NOT met the requirements set forward to meet the standards set forth by the GOI and the ISX and have stated themselves that the Warka Bank stock may never trade again.

5. People who have Warka debit cards are all reporting that the cards no longer work and these people cannot get in touch with anyone at Warka about the card failure.

Why do I point these things out?

I hope to stear the innocent away from harm.

Why do i do this?

Maybe it is the Boy Scout in me.

All I know is I am glad I do not have any money in a private Iraqi bank.

Best of luck to those that do.

I think you will need it!

Phoenix

Thanks for your good intentions. I just dont think you are qualified or have the credentials to make those judgements.

[bobby_cahill]

OOOOOOOOOOOOOOOOK

So much for a cruise after the RV!

Grrrrrrrrrrrrrrr

Semper Fi

[Phoenix]

Thanks for your good intentions. I just dont think you are qualified or have the credentials to make those judgements.

Judgements?

Those are not"judgements"...those are facts!

100% factual information found right on this forum in the news with links.

I presented a way to excape from the "Warka Trap" weeks ago and if you would have taken the out when you could have you would be holding all of your Iraqi dinar in hand at this time.

Others did see the warning signs and acted to reduce their risk/exposure as they saw fit.

Knowing full well you saw how other Warka clients on this very forum removed their money from Warka with detailed instruction from others on how to do so I have zero pity for you if you indeed are screwed and lose 100% of your money invested/held in Warka.

Snooze ya lose!

[Frank61]

Judgements?

Those are not"judgements"...those are facts!

100% factual information found right on this forum in the news with links.

I presented a way to excape from the "Warka Trap" weeks ago and if you would have taken the out when you could have you would be holding all of your Iraqi dinar in hand at this time.

Others did see the warning signs and acted to reduce their risk/exposure as they saw fit.

Knowing full well you saw how other Warka clients on this very forum removed their money from Warka with detailed instruction from others on how to do so I have zero pity for you if you indeed are screwed and lose 100% of your money invested/held in Warka.

Snooze ya lose!

Mr. Phoenix your time would be better spent starting an anti-Warka website. There you could thrive in your illusions of disaster for all Warka customers. Youre wasting all your wisdom here......???? Go gettem Hondo !!

[Adam Montana]

Warka bank is slow to respond.

I think it's foolish to pull ALL of your investment out of Warka - but I wouldn't advise anyone have any more in it than they are comfortable losing. There is no guarantee on Warka, just like there is no guarantee on any of this investment.

Phoenix, post something positive once in a while please. It seems like all you do is post negative comments any more.

[War Eagle]

Ther is NOTHING wrong with Warka Bank. They have sold 20-25% of their stock to Citi Bank,and are in the process of selling another 20-25% of their stock to a scandinavian bank.These 2 bank will then own about 49% of Warka Bank.This is one of the reasons the bank has been off line for so long.another problem Warka Bank had was the goverment of Iraq pulled all there money out of Warka Bank. Saad Al-Bunnia,and his family are Sunni,and as you know,the goverment is mostly Shia-thanks to Maliki,who ethnically cleansed the goverment of Kurds and Sunni's-this will change in the new administration. IMHO this was all politacally motivated.This caused a TREMENDOUS cash flow problem for Warka. Al-Bunnia then sold his controlling shares to Iraq Islamic Bank (which he also owned controlling interest in).These caused GREAT concern for the CBI,and IMHO this is why Bunnia went to outside sources for funds.A lot of the banks in Iraq are partnering up with foreign banks.Finacially Warka is in GOOD shape,otherwise why would the announce a 331/3% free capital shares??? YES,Ihave a great deal of money in Warka,and the ISX.A lot of people do nor realize the the CBI guarantees all deposits in the Iraqi's banks.This is muich better than the US only guaranteeing $250,000 per person,in a bank--unless you have a cdars account!!!!

Excuse the spelling.I was in a hurry and did not double check. Mea Culpa!!!!!

[Frank61]

Ther is NOTHING wrong with Warka Bank. They have sold 20-25% of their stock to Citi Bank,and are in the process of selling another 20-25% of their stock to a scandinavian bank.These 2 bank will then own about 49% of Warka Bank.This is one of the reasons the bank has been off line for so long.another problem Warka Bank had was the goverment of Iraq pulled all there money out of Warka Bank. Saad Al-Bunnia,and his family are Sunni,and as you know,the goverment is mostly Shia-thanks to Maliki,who ethnically cleansed the goverment of Kurds and Sunni's-this will change in the new administration. IMHO this was all politacally motivated.This caused a TREMENDOUS cash flow problem for Warka. Al-Bunnia then sold his controlling shares to Iraq Islamic Bank (which he also owned controlling interest in).These caused GREAT concern for the CBI,and IMHO this is why Bunnia went to outside sources for funds.A lot of the banks in Iraq are partnering up with foreign banks.Finacially Warka is in GOOD shape,otherwise why would the announce a 331/3% free capital shares??? YES,Ihave a great deal of money in Warka,and the ISX.A lot of people do nor realize the the CBI guarantees all deposits in the Iraqi's banks.This is muich better than the US only guaranteeing $250,000 per person,in a bank--unless you have a cdars account!!!!

Excuse the spelling.I was in a hurry and did not double check. Mea Culpa!!!!!

Great info War Eagle, thanks !

[invest4later]

I have been emailing anyone and everyone at Warka for several weeks about getting a card. Not one answer back. Some forum posters have stated their cards no longer work Have you checked yours lately?

Thanks.

Travels.

HAPPY HOLIDAYS TO ALL !

FYI .. Answering You Question On The Warka Mastercard NOT WORKING ... This Is True AT THE MOMENT ..

BUT .... Warka Has Stated On Their Website That The Cards Are OFFLINE Because Of Maintenance ...

OR ... COULD IT BE ... Adjusting For A Possible RV ... Just Thinking Outloud !

Bless Your New Day .. and HAPPY SHOPPING !!

Gary .. aka Invest4later

[richman2]

Mr. Phoenix your time would be better spent starting an anti-Warka website. There you could thrive in your illusions of disaster for all Warka customers. Youre wasting all your wisdom here......???? Go gettem Hondo !!

Thanks for the info. I find it odd that anyone would criticize you for presenting all of the facts

so well. Keep up the good work my friend.

[dskullhead]

As a citizen, it is very simple to open a checking account with Citi Bank at any branch near you with initials deposite of one or two hundred dollars. All US funds to Warka goes through the citi bank and all funds from warka to US comes through citi bank. As an account holder of Citi bank, it is like ledger-to-ledger, no problem. l live in the City of New York. the financial center of the World. Citi Bank Head Office is in Wall Street here in the NYC. Anyway my fellow investor, lets wait until RV happens before we make a move.

Took your advice and opened a small account with Citibank...I can do my wire transfers from home now.....Thanks for your tip.