how strong warka after RV ???

[new new]

We had experienced that warka was once having a problem when government is taking back all their (gov) money fromm warka. So Warka have to sold the 25% share to the citibank...

Just imagine when it come to RV situasion, everybody in the world want to take out their money back, is it possible that warka will be bancrupt???

for now warka just give us a " digital number" in our account . what about when RV soon?? do they have enough money ...

[prettybaby]

Thanks for the explanation.

[ac63corvette]

I won't be taking my money out. The currant savings interest is 11% and a 1 year CD is 14%. My plan is to just draw interest on Warka and cash in my paper in hand.

[backdrop]

Citi corp. has not purchased any part of Warka bank, nor has any other bank. They are real low on available cash.

[one4dinar]

I won't be taking my money out. The currant savings interest is 11% and a 1 year CD is 14%. My plan is to just draw interest on Warka and cash in my paper in hand.

Same here ac63corvette. Where are you going to find that kind of interest? It doesn't even have to RV, with the oil beginning to flow, floating oil platforms almost finished, new pipelines going in, CNBC talking up Iraq and ISX getting ready to take off, up 5 days out of six, WHOA!!!! We are in the money.

Video from CNBC on Iraq: start @ 1:35

http://www.cnbc.com/id/15840232?video=1752197415&play=1

[one4dinar]

The Al-Bunnia Family owns Warka Bank. Below is a pdf of all their holdings.

http://www.al-bunnia.com/HMBS.pdf

They are NOT hurting for money. The bank may have had some problems because they are Sunni and ruling party in Iraq is Shia. These people as you will see have been in business many, many years and they didn't become this powerful and to lose Warka Bank. They are respected worldwide.

The good thing is we are not just investing in Warka Bank but in all the investments Warka Bank invests in.

Google this if pdf doesn't work.

Edited January 20, 2011 by one4dinar

[Frank61]

The Al-Bunnia Family owns Warka Bank. Below is a pdf of all their holdings.

http://www.al-bunnia.com/HMBS.pdf

They are NOT hurting for money. The bank may have had some problems because they are Sunni and ruling party in Iraq is Shia. These people as you will see have been in business many, many years and they didn't become this powerful and to lose Warka Bank. They are respected worldwide.

The good thing is we are not just investing in Warka Bank but in all the investments Warka Bank invests in.

Google this if pdf doesn't work.

You are so right on with your statement. Its amazing to me how many people dont get this !

Same here ac63corvette. Where are you going to find that kind of interest? It doesn't even have to RV, with the oil beginning to flow, floating oil platforms almost finished, new pipelines going in, CNBC talking up Iraq and ISX getting ready to take off, up 5 days out of six, WHOA!!!! We are in the money.

Video from CNBC on Iraq: start @ 1:35

http://www.cnbc.com/id/15840232?video=1752197415&play=1

Amen to that one.....!!

[one4dinar]

You are so right on with your statement. Its amazing to me how many people dont get this !

Amen to that one.....!!

Frank, sometimes it seem some people by their posts would be happy if Warka Bank failed. And I wonder why. Is it because they are too afraid to take a chance, risk a little money, so they bad mouth Warka Bank? After the train has left the station, they will be saying, "wow, I should've."

Thanks for your support and knowledge.

[lavender]

With a Warka account, is it not required we disclose on our taxes we have a foreign bank account? Will this trigger a red flag for an audit? Would it be safer to open the IBC and have it open an account at Warka to invest, save etc?

Thanks for your insight!

[Frank61]

Frank, sometimes it seem some people by their posts would be happy if Warka Bank failed. And I wonder why. Is it because they are too afraid to take a chance, risk a little money, so they bad mouth Warka Bank? After the train has left the station, they will be saying, "wow, I should've."

Thanks for your support and knowledge.

Yes thats about the size of it. I have these kind of folks in my own family. They didnt do it and succeed and they sure as hell dont want you to. It all boils down to educating yourself and learning everything you can about Iraq and its position in world economics. Most people in the US know more about SNOOKY than they do about Iraq and its place in world dynamics. Then when you make $$ they will be standing there looking at their Iphone mumbling Ï should have invested in Iraq " . Oh well.........

With a Warka account, is it not required we disclose on our taxes we have a foreign bank account? Will this trigger a red flag for an audit? Would it be safer to open the IBC and have it open an account at Warka to invest, save etc?

Thanks for your insight!

"Not that I know of,But check with a CPA. I believe that is all addressed when you have a gain and convert to USD.

[DoD]

With a Warka account, is it not required we disclose on our taxes we have a foreign bank account? Will this trigger a red flag for an audit? Would it be safer to open the IBC and have it open an account at Warka to invest, save etc?

Thanks for your insight!

You only have to claim your Warka account if it's worth 10k. I asked my CPA a couple of times last year just to make sure.

[82Corp.]

Dittos Frank and one4dinar,

I don't think I'll ba able to spend all the interest.

[one4dinar]

Here some information regarding IRS and foreign accounts:

ISX's Must File With The IRS This Year

________________________________________

Does this mean you have to file no matter how much you have in both iraq bank accounts the following year. And No taxes on it they just want to know about it.

http://www.irs.gov/businesses/small/article/0,,id=148849,00.html

Report of Foreign Bank and Financial Accounts

Do You Have a Foreign Financial Account?

If you own a foreign bank account, brokerage account, mutual fund, unit trust, or other financial account, then you may be required to report the account yearly to the Internal Revenue Service. Under the Bank Secrecy Act, each United States person must file a Report of Foreign Bank and Financial Accounts (FBAR), if

1. The person has financial interest in, signature authority or other authority over one or more accounts in a foreign country, and

2. The value of the account exceeds $10,000 at any time during the calendar year.

A United States person is not prohibited from owning foreign accounts. The FBAR is required because foreign financial institutions may not be subject to the same reporting requirements as domestic financial institutions. The FBAR is a tool to help the United States government identify persons who may be using foreign financial accounts to circumvent United States law. Investigators use FBARs to help identify or trace funds used for illicit purposes or to identify unreported income maintained or generated abroad.

Definition of Terms

A United States person is:

• A citizen or resident of the United States,

• A domestic partnership,

• A domestic corporation, or

• A domestic estate or trust

A foreign country includes all geographical areas outside the United States, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, and the territories and possessions of the United States (including Guam, American Samoa, and the United States Virgin Islands).

Reporting and Filing Information

A person who holds a foreign account may have a reporting obligation even though the account produces no taxable income. Checking the appropriate block on Form 1040 Schedule B, and filing Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts, satisfies the account holders reporting obligation.

A foreign account holder must mail the Form TD F 90-22.1 on or before June 30 of the following year to:

U.S. Department of the Treasury

P.O. Box 32621

Detroit, MI 48232-0621.

The FBAR is not to be filed with the filers Federal income tax return.

The granting, by IRS, of an extension to file Federal income tax returns does not extend the due date for filing an FBAR. There is no extension available for filing the FBAR.

Account holders who do not comply with the FBAR reporting requirements may be subject to civil penalties, criminal penalties, or both.

Exceptions to the Reporting Requirement

There are exceptions to the reporting requirement. These exceptions include:

1. Accounts in U.S. military banking facilities operated by a United States financial institution to serve U.S. Government installations abroad are not considered to be accounts in a foreign country for purposes of the reporting requirement.

2. An officer or employee of a bank that is subject to the supervision of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Office of Thrift Supervision, or the Federal Deposit Insurance Corporation, is not required to report having signature or other authority over a foreign account if the officer or employee has no personal interest in the account.

3. An officer or employee of a domestic corporation whose equity securities are listed on a national securities exchange or which has assets exceeding $10 million and 500 or more shareholders of record, is not required to report having signature or other authority over a foreign account if the person has no personal financial interest in the account, and the officer or employee has been advised in writing by the chief financial officer of the corporation that the corporation has filed a current report that includes the foreign account.

FBAR Assistance

Help in completing Form TD F 90-22.1 is available at 1-800-800-2877, option 2. The form is available online at IRS.gov and MSB or by telephone at 1-800-829-3676. Questions regarding the FBAR can be sent to FBARquestions@irs.gov.

Rate the Small Business and Self-Employed Web Site

If in doubt e-mail FBAR.

Here's more info:

This is from an investor that asked her accountant to clear up the ambiguity.

My CPA who deals with big accounts . ( I am his smallest account and only due to family does he do mine) Pulled up all the info. He said you must report any and all interest and any foreign accounts. There is not a question about that. the other form is needed of you have more than 10k. He was quite clear That if I did not report this account It will cost 10k in fines They want you account number and bank name. They do not need you balance but your required to pay taxes on any interest. I will call him and get a recheck on the law.

[FloridaChick]

You are so right on with your statement. Its amazing to me how many people dont get this !

Amen to that one.....!!

I concur! I am confident in my Warka Dinar holdings ~ Beats 1% interest in a failing banking system. I feel I am very diversifed and wise having electronic funds held in Dinar ~ for now!

I may pull large amounts out for property purchases after RV but leave the ISX alone and play with the stocks for a while. I appreciate seeing others who are likeminded on this forum as

there are just too many Debbie Downers~ ~ After all this is all SPECULATION ~ Makes it exciting WooHoo Let's RV I could use an influx of some cash!

[Frank61]

I concur! I am confident in my Warka Dinar holdings ~ Beats 1% interest in a failing banking system. I feel I am very diversifed and wise having electronic funds held in Dinar ~ for now!

I may pull large amounts out for property purchases after RV but leave the ISX alone and play with the stocks for a while. I appreciate seeing others who are likeminded on this forum as

there are just too many Debbie Downers~ ~ After all this is all SPECULATION ~ Makes it exciting WooHoo Let's RV I could use an influx of some cash!

I really think warka and the ISX are the best part of this investment. Imagine when the ISX goes worldwide ???!!!

[one4dinar]

Florida Chick, you are right on. I've pretty much stopped mentioning the opportunity in the ISX to family and friends. My 22 year old granddaughter is on track in this investment. She gives me her tip money to invest. Plus, she and my grandson holds a few dinars.

Frank61 and FloridaChick, I'm so excited about this opportunity, I could burst!!!!! LOL

[one4dinar]

Unofficial News On Warka Bank, Hold on it's coming!!!!!

Warka Funded!!!!!

Not from me!!! Found somewhere else, Enjoy!!!

"Warka has just sold stock to Standard Charter Bank of UK for 180 Million EURO

The bank is now fully funded and the stock should trade up when it comes back on the market. Warka is the number one bank in Iraq and will stay that way as far as private Iraqi banks are concerned. Do not be worried about the rumors, we own a lot of Warka in the company account.

The news will be formally announced in about 4 weeks,...which goes along with Warka coming back to trading March 15th...."