About Warka Bank for Investment & Finance J.S.C.

[Muhammad]

Please search first: http://www.warka-bank.com/inner.php?type=3&id=63

Dear Warka Clients,

I am delighted to inform you that a Senior Management and Board of Directors decision has been reached and made to increase our capital to IQD 250 billion the highest capital of any private bank in .

We will increase our capital to IQD 100 billion by February 28th 2010 issuing free shares to our shareholders further increasing our capital by the end of June 2010 to IQD 250 billion issuing paid up shares to our esteemed shareholders.

Please note that this an announcement where the bonus shares will be issued after we hold, finalize and complete our general assembly meeting in accordance with standard practice and procedures.

Thank you for sharing and contributing to our continuous success and growth.

Respectfully,

Warka Bank for Investment and Finance

Now how to lop the 3 zeros off from the higher denominations like 10,000 IQD and 25,000 IQD to contradict the written promises of Warka Bank? All the investors of Warka Bank will incur great losses if the 3 zeros are done only for the policy of lop without a justifiable reason like hyperinflation?! Please do your research once more! Mind you, the Iraqi government is fully supporting Warka Bank.

And more about them:

Warka Bank for Investment and Finance is one of the largest financial institutions in Iraq, with a network of 120 branches and 350 ATMs located all over iraq , with strong and growing banking services. The bank was established in 1999 and now it is considered by the central bank of iraq and the other financial organizations as the first private bank in Iraq.

Warka Bank for Investment and Finance is mobilizing its substantial capital to take a cutting edge role in Iraqi finance.

The bank has emerged as a lead financier,participating in many sectors such as power , water s , communication , construction and many other sectors concerning the reconstruction of new Iraq.

For the sake of greater customer convenience, our full service approach is delivered through an accessible network of more than 120 branches covering all Iraqi governorates. Additionally, our e-channel services use the latest electronic technologies to bring banking into our customers’ homes such as . Internet, mobile phone banking services and sms banking services and our ATM’s with more than 350 ATM .

The bank has professional staff ready to serve our respected customers in all banking fields to face the growing demand on trade finance services (LC’s & LG’s) and all other banking services.

Thank you for banking with us

[FiremanDave]

I have to respectfully ask a couple questions about opening an account at Warka:

1) According to http://travel.state.gov/travel/cis_pa_tw/cis/cis_1144.html (under special circumstances) there are restrictions to money being wired out of Iraq. After RV, what assurance do we have that monies would be able to be wired back to US banks in USD?

2) Does Warka Bank have systems in place to protect personal information such as addresses, birthdates, etc? Some of my friends are calling me crazy for sending a copy of my drivers license to Iraq over email. I don't think they mean anything personal about it; just wanted to make sure if they do it, their personal information won't be made public.

Any other advice, experiences or lessons learned that anyone can share would be greatly appreciated!

Thanks everyone!

FiremanDave

[Charles45]

Please search first: http://www.warka-bank.com/inner.php?type=3&id=63

Dear Warka Clients,

I am delighted to inform you that a Senior Management and Board of Directors decision has been reached and made to increase our capital to IQD 250 billion the highest capital of any private bank in .

We will increase our capital to IQD 100 billion by February 28th 2010 issuing free shares to our shareholders further increasing our capital by the end of June 2010 to IQD 250 billion issuing paid up shares to our esteemed shareholders.

Please note that this an announcement where the bonus shares will be issued after we hold, finalize and complete our general assembly meeting in accordance with standard practice and procedures.

Thank you for sharing and contributing to our continuous success and growth.

Respectfully,

Warka Bank for Investment and Finance

Now how to lop the 3 zeros off from the higher denominations like 10,000 IQD and 25,000 IQD to contradict the written promises of Warka Bank? All the investors of Warka Bank will incur great losses if the 3 zeros are done only for the policy of lop without a justifiable reason like hyperinflation?! Please do your research once more! Mind you, the Iraqi government is fully supporting Warka Bank.

And more about them:

Warka Bank for Investment and Finance is one of the largest financial institutions in Iraq, with a network of 120 branches and 350 ATMs located all over iraq , with strong and growing banking services. The bank was established in 1999 and now it is considered by the central bank of iraq and the other financial organizations as the first private bank in Iraq.

Warka Bank for Investment and Finance is mobilizing its substantial capital to take a cutting edge role in Iraqi finance.

The bank has emerged as a lead financier,participating in many sectors such as power , water s , communication , construction and many other sectors concerning the reconstruction of new Iraq.

For the sake of greater customer convenience, our full service approach is delivered through an accessible network of more than 120 branches covering all Iraqi governorates. Additionally, our e-channel services use the latest electronic technologies to bring banking into our customers’ homes such as . Internet, mobile phone banking services and sms banking services and our ATM’s with more than 350 ATM .

The bank has professional staff ready to serve our respected customers in all banking fields to face the growing demand on trade finance services (LC’s & LG’s) and all other banking services.

Thank you for banking with us

Thanks for the post,..and I for one appreciate all of your effort. I would like to make a few

points on this (if I may).

Let's assume $1,000 USD = 1 million IQD for simplicity and look at this from a LOP/RV viewpoint.

If I invest $1,000,. and 3 zero's are LOP'ed,. and Iraq increases to a value of $3,. Warka promises are still valid.. My $1,000 is now worth $3,000USD. I've lost nothing,..in fact,

I do gain from this scenario. I just don't gain as much as I had hoped for.

Vendors,. clients,..Iraqi citizens loose nothing,.. Just as Mexico LOP'ed their currency,. and so

many other countries LOP'ed their currency,..the past reveals how its done and it's a smooth

transition,..ie,..the cost of a coke is 1,000 IQD (old),. and .30 fils (new),..the old currency is

then phased out. Iraqi's gain purchase power and Iraq's Trillions become Billions. Far more

manageable.

I'm not at all trying to destroy dreams,.. but,. I do see this as a possible solution for Iraq and

after seeing a few articles from CBI advisors stating this very idea as one of their options,. I

point this out and hope I'm wrong.

Granted,. they might also RV at .10,..but,. would that be wise on their part?? I search for answers

to this and I'm at a loss,..I can find an arguement for both RV and for RV/LOP. It truely is hard

to guage this!!

Thanks for the post!!

[Dryden01]

Let us check our math: If you bought 1,000,000 dinars for say $1,000USD and those 1 million dinars became worth $3,000 then the RV value of the dinar would be $0.003USD, hardly what we could call a competitive currency to the Kuwaiti dinar wouldn't you say? It seems much less optimistic than anything we have heard speculated about. The would be 1st or 2nd largest oil exporter in the world might find it hard to attract future investors.

[Charles45]

Let us check our math: If you bought 1,000,000 dinars for say $1,000USD and those 1 million dinars became worth $3,000 then the RV value of the dinar would be $0.003USD, hardly what we could call a competitive currency to the Kuwaiti dinar wouldn't you say? It seems much less optimistic than anything we have heard speculated about. The would be 1st or 2nd largest oil exporter in the world might find it hard to attract future investors.

You are correct,. Old currency (the IQD we have now) would hold that value,. and the New currency (the lower denominations that would be released ) would hold a higher value,..$3.00.

I'm just giving an example of how this "would" work,."IF" they chose to do this. For a better

understanding of how LOP's are handled and how currency changes effect countries,. we can

look at Afghanistan (a recent RV/LOP assisted by the US Gov't),. and many other countries!! Oh,

and I realize the only comparison betwwen Iraq and Afghanistan is that possibility,..I mention

it to offer an educated look into how the process works,..nothing more!!

[captaint]

But what about the dinars that are in a warka account. there is no "lop" on funds that are not paper......or is that also possible to be reduced. Like they make 3 million into 3 thousand in number??? Is that possible?

[Muhammad]

But what about the dinars that are in a warka account. there is no "lop" on funds that are not paper......or is that also possible to be reduced. Like they make 3 million into 3 thousand in number??? Is that possible?

When North Korean Won lopped 2 zeros last year in December 2009, the savings in the banks within North Korea became a great loss to all the banks' account holders. Likewise, it will happen to Iraq as well if the 3 zeros are lopped and rated too low in their RV. Everyone panicked and some committed suicides inside North Korea. All the legal and illegal traders outside North Korea's borders moved away from doing business with North Korea.