Bank run

[Goob]

It's been on my mind for quite some time so I figured I'd see what the fellow investors think.

Question: The majority of warka banks business seems to stem from investors who only have an account for the purpose of investing in the dinar. We all wait patiently for the infamous day that Iraq revalues their currency. After the dinar re values, how will warka be able to support the demand of withdraws from investors. If the majority of investors ring the register following an rv, will we collapse the bank. I make the assumption that they exchanged our usd for dinars and are doing something with them.... Meaning im sure there not paying us interest to store them for us, they must be Loaning it out or trading with it or something.While their capital requirements are much higher than here in the USA, I make the assumption that their assets are not liquid. It's my concern they may have a liquidity issue if we all attempt to cash out and close accounts.

Question: does anyone have any idea what warka does with our monies?

Question: does anyone have access or links to warka banks financial statements?

I would appreciate any feedback you may have. Thanks in advance goob

[TC987]

Very good questions. I was just contemplating opening an account, but I would love to hear the responses to this post prior to opening the account.

Thanks for the post.

[TimS]

Very good point....if the majority of account holders withdrew their deposits from any US bank all at once, it would probably go under. What chance does warka have at a 1000 to 1 if it RV's at $1 per dinar?

[backdrop]

I have close to $20,000 USD in Warka bank. I have attempted to use all of their advertised methods of withdraw. I just wanted to see which would be the best after the Rv/Ri. The last time I was able to use my debit card was Nov. 04, 2010. The max I could take out of my account was $500, I tried $800 but I get a response that I was over my limit. I had withdrawn from my IQD savings and IQD checking before, but still the limit was $500 per day. Did not matter what account I tried to use or in what order, or the number of different ATM's used, $500 was the limit for the day.

Wire transfer back to the US has not worked! Their Western union service does not work. Warka debit card does not work. Maybe, I'll be able to get to that money in a couple years, then again maybe not. I have contacts at the Warka bank that I telephone to attempt to get this done. All I get from them now is," I will forward your request to the correct department.

"Good morning sir,

we are doing to get the proper information about your matter sooner,we will reply you latter ."

warka bank / tallil

Make your life simple, stay away from Warka bank!!

I've lost 100's of thousands before, so this will hurt but, hey it's only money !!

01-10-11

Warka site is back up and somewhat working. I'll be attempting to make a withdraw tomorrow with master/debit card, I'll let you what happens.

Most of your questions can be answered by reading previous posts.

[jphillips]

What is the web address of the warka site?

[glo]

I have close to $20,000 USD in Warka bank. I have attempted to use all of their advertised methods of withdraw. I just wanted to see which would be the best after the Rv/Ri. The last time I was able to use my debit card was Nov. 04, 2010. The max I could take out of my account was $500, I tried $800 but I get a response that I was over my limit. I had withdrawn from my IQD savings and IQD checking before, but still the limit was $500 per day. Did not matter what account I tried to use or in what order, or the number of different ATM's used, $500 was the limit for the day.

Wire transfer back to the US has not worked! Their Western union service does not work. Warka debit card does not work. Maybe, I'll be able to get to that money in a couple years, then again maybe not. I have contacts at the Warka bank that I telephone to attempt to get this done. All I get from them now is," I will forward your request to the correct department.

"Good morning sir,

we are doing to get the proper information about your matter sooner,we will reply you latter ."

warka bank / tallil

Make your life simple, stay away from Warka bank!!

I've lost 100's of thousands before, so this will hurt but, hey it's only money !!

01-10-11

Warka site is back up and somewhat working. I'll be attempting to make a withdraw tomorrow with master/debit card, I'll let you what happens.

Most of your questions can be answered by reading previous posts.

Please ! and let us know !!! I was last saturday in the bank to wire to warka , but the web was under maintenance and upgrading, so I didn't do the wire. today is running.

[backdrop]

Jan. 12,2011

Still no luck getting any money out of Warka bank!!

[chuckray]

i would never deal with a 'website' bank :

i want to actually be able to walk into a bank and pull my money out

[dskullhead]

Jan. 12,2011

Still no luck getting any money out of Warka bank!!

backdrop,

It took weeks of letters/2nd request letters before I finally received an email from a Rowaida in Customer Service that he/she will finally be processing my external transfer to my Citibank in the USA....A word of advice....email Mr. Issa with your concerns...I checked my account today but the wire transfer hasn't been transmitted yet to my Citi account...Hopefully, I'll see the transfer in my account tomorrow or by the end of the week...

[backdrop]

Jan 12, 2011, Debit card still not working. no wire transfer yet. All emails tell me to contact my branch in Ta leel. I've talked to them and they assure me their taking care of it or telling the manager. still nothing. One request was to take 5 mil IQD from checking and put it in IQD savings. That has not happened. They are still a work in progress with all this electonic stuff. I just hope they figure it out before they go under. Would like to get a little money back.

[leola]

BACKDROP,,,,,,Have you tried to e/m ,,,cbi,,,and inquire, as to your concerns.......