Warka Bank problems depositing?

[mqchau]

I tried to deposit some money to my Warka account from my Citibank account last night and had all sorts of problems. They couldn't find the Warka account or said it didn't exist. I sent them a really long emailing asking them WTF. Waiting on the reply.

What I want to know is has any of you guys deposited lately and which bank are you using.

Any information would be greatly appreciated!

Thank you

[OH_BROTHER]

Not 100% sure...but I saw something posted yesterday about Warka going bankrupt?? Dont shoot the messenger...

[majors121]

I tried to deposit some money to my Warka account from my Citibank account last night and had all sorts of problems. They couldn't find the Warka account or said it didn't exist. I sent them a really long emailing asking them WTF. Waiting on the reply.

What I want to know is has any of you guys deposited lately and which bank are you using.

Any information would be greatly appreciated!

Thank you

considering there was a post on here...i think yesturday...discussing warka going bankrupt, that may be your answer

[mqchau]

Yes, I read that article also but just trying to see if anyone else is having problems. This would be my first time depositing with them and know that many have done it. So just trying to see what everyone's thought is on this.

I have some Iraqi Dinar's in hard currency already just trying to get a few more with the bank just in case I have to flip it real quick when and if the RV ever happens. Any info would be greatly appreciate!

[rdm5130]

I too am waiting word. I wired funds on June 9th and have sent numerous un-answered emails to just about every contact name I can find at Warka. I also requested and filled out forms for interent banking as well as Master Card. Internet banking I have not heard from yet but I did get an immeadiate response on the Master Card. Here is what i got on that:

Dear Sir,

Thank you for sending your application and as posted on our website we will start the issuance of cards after we complete the system configuration and related security updates where once completed a notice will be posted on our website www.warka-bank.com updating our fine clients accordingly.

Best regards.

MASTERCARD DEPARTMENT

HEAD OFFICE

WARKA BANK FOR INVESTMENT AND FINANCE

[mqchau]

I too am waiting word. I wired funds on June 9th and have sent numerous un-answered emails to just about every contact name I can find at Warka. I also requested and filled out forms for interent banking as well as Master Card. Internet banking I have not heard from yet but I did get an immeadiate response on the Master Card. Here is what i got on that:

Dear Sir,

Thank you for sending your application and as posted on our website we will start the issuance of cards after we complete the system configuration and related security updates where once completed a notice will be posted on our website www.warka-bank.com updating our fine clients accordingly.

Best regards.

MASTERCARD DEPARTMENT

HEAD OFFICE

WARKA BANK FOR INVESTMENT AND FINANCE

Yes, it really makes me worry since I keep reading about this system configuration changes and updates. Haven't this been going on for a while now? Also, have anyone actually received their card and actually tried to use it? Let's just say check your balance or even tried to pull alittle money out to see if it actually works?

I'm just saying...very little positives out of this but alot of negatives from what I can see....any comments would be appreciated!

Thanks

[hoopdog]

Yes, it really makes me worry since I keep reading about this system configuration changes and updates. Haven't this been going on for a while now? Also, have anyone actually received their card and actually tried to use it? Let's just say check your balance or even tried to pull alittle money out to see if it actually works?

I'm just saying...very little positives out of this but alot of negatives from what I can see....any comments would be appreciated!

Thanks

I think a sign to not deal with Warka banks is the fact that they charge a fee for every little thing that they can think of. It gets pumped up on these sites so much, which can't be good and they are having so many issues with money over there as it is, it just doesn't make sense to bank with them. Especially since banks right here in the good ole USA will be happy to work with you if it ever does RV.

[rdm5130]

Scooter was asked his thoughts on Warka towards the end of his chat on DD on 6/15 and he stated, and I'm para.-phrasing some, I need to be careful on financial advice but I feel alot better with Citibank along side. Has anyone heard anything to that effect ?

[Bigboy0854]

Yes they charge a fee - however they also pay high interest. I have a 1 year CD with Warka paying 10.5%

Any recent news about Warka Bankruptcy is B.S.

[mqchau]

To be honest with you I'm not worried about the Bankruptcy part its the having access to your money part I'm alittle worried about. Like I said in the previous post, "has anyone actually received their so called MasterCard?" and actually tested it out to see if it really works?

Also, I've heard them doing this so called security update thing for a while now and not issuing any cards at this time statement many many moons ago. I want to stay positive about all of this but for some reason I haven't seen anything to say this is the way to go. I have hard currency right now but just looking at another way of cashing in when the time comes. My buddy ask me a simple question today that really made me think. What if Warka decides to take your money and act like your account never existed? Who would you run too? Here you are investing in a bank you haven't ever seen or set foot in? I told him hey its a gamble and I want to stay positive.

With that being said I will still try to deposit money into Warka (just some) to see what happens. Once my Citibank account figures out WTF is going on...as of right now I haven't heard anything back from them in regards to this matter yet.

Thanks

[Bigboy0854]

mqchau, I have on-line banking but no MasterCard so I can't comment on that. Here is so more information about Warka - hope this helps ease your anxiety.

would not worry - Warka is one of the strongest & largest private banks in Iraq.

Also read this post from Eagle:

This is OLD news---strictly dirty POLITICS---Warka Bank is owned by Saad Al-Bunnia,and his family----------they are SUNNI,and as you probably know,Maliki's government is almost all Shia.They pulled all of the government's money out of Warka Bank,causing a tremendous liquidity problem. This was solved by Standard Chartered ( a large Asian bank) investing $120 MILLION dollars into Warka Bank,plus Warka already had a reserve of 100 Million dinars,so WARKA BANK IS IN EXCELLENT SHAPE. I JUST WITHDREW $10,000 from my account with ABSOLUTELY NO PROBLEM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!.This country has No free press, so to speak,and are notorious for printing OLD articles!!!!!!!!!!!!!!!!!!!!!!

Edited June 16, 2011 by Bigboy0854

[SnowGlobe7]

I do not have a Warka bank account but a friend does. She has been trying to get a response regarding a deposit as well. I called her this morning and she still has no response and she is looking at 21 days.

You may not be alone with questions.

[Bigboy0854]

Here is a good contact for your friend:

Mohammad K. Issa

ifrd@warka-bank-iq.com

Deputy Managing Director

Senior Executive

Warka Bank for Investment and Finance

[Knuckles]

Been waiting on a debit card since Dec 2010. Getting the same story about system updates are being completed then our "fine customers" will be taken care of according. Remember to send emails during THEIR regular business hours or your email will be trashed. Good luck and keep the faith!

[panamajo]

Here is the email I got from Warka yesterday. I applied for the MasterCard/Debit card twice to no avail. My next door neighbour received her card back in December and I was looking at it yesterday. It looks cheesy, the numbers are not embossed and barely legible but did have the magnetic stip and security features. I would love see the look on a merchants face when she whips it out. She has not used it to date. I also have another friend who emailed Warka about the MC and Debit and they sent her an email saying to download the documents, fill them out and they will process her application. She said she would be doing it today. Hopefully the will get back to her soon.

MOHAMMAD K. ISSA to meshow details 3:18 AM (11 hours ago)Dear Sir,

Because of the ongoing rumors and false posts the policy of our bank is not to reply disregarding any website posts and notices since they are all null and void.

Please note that Warka Bank for Investment and Finance currently holds the largest capital and assets than any other private bank in the country in the final stages of finalizing its general assembly procedures further increasing its existing high capital holding serious talks and negotiations with a leading prime foreign pioneer bank regarding a merger venture which will add great added value and incentive to our bank, cliental and stock greatly benefiting shareholders increasing share value.

Not to mention Warka Bank holds the largest branching network, infrastructure services, products and cliental…etc

With regards to the said issue this matter is bias false blown out of proportion where no bankruptcy has taken place, will take place or even announced where we are operating under the full guidelines and regulations set by the CBI the highest financial and monitory authority in Iraq.

Warka Bank is in full compliance with the bylaws and requirements set by the esteemed CBI.

To be very frank bankruptcy doesn’t take place in Iraq the CBI will never allow it.

With regards to Basra Bank the CBI has appointed a trustee conservative until a new board of directors are to be elected.

As posted on our website our MC team has finished the local configuration and updates where they are completing the international system configuration and related security updates where once completed you will have full access to your card where a notice will be posted on our website www.warka-bank.com <http://www.warka-bank.com/> updating our fine clients accordingly.

For any further information related to your card please contact our MC department 3313@warka-bank-iq.com they will assist accordingly.

This e-mail is confidential and the information contained in it is privileged. It should not be read, copied or used by anyone other than the intended recipient. If you have received it in error, please contact the sender immediately by return email, and delete the e-mail and do not disclose its contents to any person.

From: Joanne H.

Sent: Wednesday, June 15, 2011 4:29 PM

To: ACCOUNTS DEPT

Subject: BANKRUPTCY

God I hate it when they call me sir!

Edited June 16, 2011 by panamajo

[mqchau]

Here is the email I got from Warka yesterday. I applied for the MasterCard/Debit card twice to no avail. My next door neighbour received her card back in December and I was looking at it yesterday. It looks cheesy, the numbers are not embossed and barely legible but did have the magnetic stip and security features. I would love see the look on a merchants face when she whips it out. She has not used it to date. I also have another friend who emailed Warka about the MC and Debit and they sent her an email saying to download the documents, fill them out and they will process her application. She said she would be doing it today. Hopefully the will get back to her soon.

MOHAMMAD K. ISSA to meshow details 3:18 AM (11 hours ago)Dear Sir,

Because of the ongoing rumors and false posts the policy of our bank is not to reply disregarding any website posts and notices since they are all null and void.

Please note that Warka Bank for Investment and Finance currently holds the largest capital and assets than any other private bank in the country in the final stages of finalizing its general assembly procedures further increasing its existing high capital holding serious talks and negotiations with a leading prime foreign pioneer bank regarding a merger venture which will add great added value and incentive to our bank, cliental and stock greatly benefiting shareholders increasing share value.

Not to mention Warka Bank holds the largest branching network, infrastructure services, products and cliental…etc

With regards to the said issue this matter is bias false blown out of proportion where no bankruptcy has taken place, will take place or even announced where we are operating under the full guidelines and regulations set by the CBI the highest financial and monitory authority in Iraq.

Warka Bank is in full compliance with the bylaws and requirements set by the esteemed CBI.

To be very frank bankruptcy doesn’t take place in Iraq the CBI will never allow it.

With regards to Basra Bank the CBI has appointed a trustee conservative until a new board of directors are to be elected.

As posted on our website our MC team has finished the local configuration and updates where they are completing the international system configuration and related security updates where once completed you will have full access to your card where a notice will be posted on our website www.warka-bank.com <http://www.warka-bank.com/> updating our fine clients accordingly.

For any further information related to your card please contact our MC department 3313@warka-bank-iq.com they will assist accordingly.

This e-mail is confidential and the information contained in it is privileged. It should not be read, copied or used by anyone other than the intended recipient. If you have received it in error, please contact the sender immediately by return email, and delete the e-mail and do not disclose its contents to any person.

From: Joanne H.

Sent: Wednesday, June 15, 2011 4:29 PM

To: ACCOUNTS DEPT

Subject: BANKRUPTCY

God I hate it when they call me sir!

Could you ask your friend if she has actually tried the call out? Or just go test it out to see if she could see her balance? As for the Mastercard being sent out after the security systems update or whatever they want to call it I have never ever seen a bank take this long to update their systems...really how long does it take to update? Something that big and important really? I want to stay positive but damn...this is insane? 6 months and still nothing for you?

I'm just saying...com'on Warka Bank do something already.

[mqchau]

Here is the email I got from Warka yesterday. I applied for the MasterCard/Debit card twice to no avail. My next door neighbour received her card back in December and I was looking at it yesterday. It looks cheesy, the numbers are not embossed and barely legible but did have the magnetic stip and security features. I would love see the look on a merchants face when she whips it out. She has not used it to date. I also have another friend who emailed Warka about the MC and Debit and they sent her an email saying to download the documents, fill them out and they will process her application. She said she would be doing it today. Hopefully the will get back to her soon.

MOHAMMAD K. ISSA to meshow details 3:18 AM (11 hours ago)Dear Sir,

Because of the ongoing rumors and false posts the policy of our bank is not to reply disregarding any website posts and notices since they are all null and void.

Please note that Warka Bank for Investment and Finance currently holds the largest capital and assets than any other private bank in the country in the final stages of finalizing its general assembly procedures further increasing its existing high capital holding serious talks and negotiations with a leading prime foreign pioneer bank regarding a merger venture which will add great added value and incentive to our bank, cliental and stock greatly benefiting shareholders increasing share value.

Not to mention Warka Bank holds the largest branching network, infrastructure services, products and cliental…etc

With regards to the said issue this matter is bias false blown out of proportion where no bankruptcy has taken place, will take place or even announced where we are operating under the full guidelines and regulations set by the CBI the highest financial and monitory authority in Iraq.

Warka Bank is in full compliance with the bylaws and requirements set by the esteemed CBI.

To be very frank bankruptcy doesn’t take place in Iraq the CBI will never allow it.

With regards to Basra Bank the CBI has appointed a trustee conservative until a new board of directors are to be elected.

As posted on our website our MC team has finished the local configuration and updates where they are completing the international system configuration and related security updates where once completed you will have full access to your card where a notice will be posted on our website www.warka-bank.com <http://www.warka-bank.com/> updating our fine clients accordingly.

For any further information related to your card please contact our MC department 3313@warka-bank-iq.com they will assist accordingly.

This e-mail is confidential and the information contained in it is privileged. It should not be read, copied or used by anyone other than the intended recipient. If you have received it in error, please contact the sender immediately by return email, and delete the e-mail and do not disclose its contents to any person.

From: Joanne H.

Sent: Wednesday, June 15, 2011 4:29 PM

To: ACCOUNTS DEPT

Subject: BANKRUPTCY

God I hate it when they call me sir!

Could you ask your friend if she has actually tried the card out? Or just go test it out to see if she could see her balance? As for the Mastercard being sent out after the security systems update or whatever they want to call it I have never ever seen a bank take this long to update their systems...really how long does it take to update? Something that big and important really? I want to stay positive but damn...this is insane? 6 months and still nothing for you?

I'm just saying...com'on Warka Bank do something already.

[82Corp.]

Everyone needs to chill out about the Warka Bankruptcy its all BS (Bad Status). I’ve had my Warka account about three years now. First, let me address the MasterCard/Debit card. I have used my MC/Debit card in Iraq, Afghanistan, Dubai, Germany, France and the US several times. NOTE: as of Oct 2010 Warka has been performing “MAINTAINANCE” on their MC/Debit cards, they being Warka, shutoff the international service to the MC/Debit cards; meaning they can only be used with in Iraq. As for the “LOOK” of their MC/Debit card the numbers are laser cut in to the card face, unlike we’re use to seeing heavily pressed numbers from the back of our cards. Believe me it works the same when international services are turned on. To me it’s smart business on Warka’s part to shutoff international services anticipating the RV. Ask yourself what would happen if it RV’d tomorrow, every swing SOB (Short of Breath) person would run to the bank with there MC/Debit and start drawing cash “causing a run on Warka” So let me ask how many of you wonderful people have personal checks from Warka? “I do, I do” you can request personal check from Warka just like “AMERICA”, “MY HOR”, these checks have to be written from your Warka USD checking account. Note: for those of you that have been playing on the Warka web site for quite sometime have probably noticed August 2010, the mechanism for transferring your funds between USD to IQD accounts disappeared from their web page. Why you ask, well because of people with personal checks. There again a smart business move on Warka’s part. This prevent me from move my IQD to USD and writing a check for over 100 million big one. Not my intent, but, it could be someone’s!

To address the wire transfer issue – YES, I was helping brother in arms yesterday and he had trouble completing his wire transfer. Strange!

ISX – for those of that may or may not follow the ISX, listed below; as of 16 Jun 2011 data/information regards to Warka; ISX status. I will also add from December 2010 thru June 17, 2011 (TODAY) my gains are over 15 million IQD with ISX. “Be smart and join the reindeer games”

Company Name Average Price Stopping Date Meeting Date Meeting Programme increasing type

Al Warka Bank 1.270 2/8/2010 21/2/2010 increasing in capital Company Subscription

19/1/2011

Now I have a question, how many people have had trouble logging on to their Warka account today?

Words of advice, please file your TD F 90.22.1 (Revised March 2011) by 30 June 2011! After the RV use offshore banking and offshore Business Companies to protect your new found wealth from trivial law suits NOT to hide it from paying taxes. You will be caught! Food for thought!

Apologies for any type-O’s had less than 5 to crack this out.

“GOD, not my will, YOUR WILL BE”

[panamajo]

Could you ask your friend if she has actually tried the card out? Or just go test it out to see if she could see her balance? As for the Mastercard being sent out after the security systems update or whatever they want to call it I have never ever seen a bank take this long to update their systems...really how long does it take to update? Something that big and important really? I want to stay positive but damn...this is insane? 6 months and still nothing for you?

I'm just saying...com'on Warka Bank do something already.

I will ask her today.

[murfman]

Greetings Everyone...... just wanted to throw my two cents worth in..... I received an email on monday in regards to my request for online (e-bank) and the confirmation of my deposits made to both my USD and IQD accounts that I wired to them approximatly 2 weeks ago (could be 3 I work 70 hours a week so days tend to blur into one another) every thing that I see is good as gold or should I say DINAR..... So far every thing I have done following Adam the dinar man montana's writtings has worked as advertised...(knock on wood) So chill people be patient......whooosawwww....groosefrabaaaaaaa.... or what ever meditating term you would like to use....

[rdm5130]

Did you happen to notice the date they credited the funds to both accounts, closer to wire dates or closer to 3 weeks. Thanks

[auto2nr1]

took a few days to open the account sending e-mails back and forth and me submitting necessary info to warka..... took 1 day to wire my usd savings... received a confirmation e-mail the next day.... took a little over a week to receive my online banking information. no problems here. only bad part is that the time difference and the method of contact (e-mail) is the reason why it takes a day or two to receive responses.

[RAGARCIA62]

i was just filling out the tdf90-22.1 report and read that the form is not require if the aggregate value did not exceed $10,000. so i guess it will need to be filed when rv occurs and i transfer from iqd to usd. one question, im sure the us treasury doesnt care about the iqd, but does the form need to state the iqd account or just usd account. does anyone know the address to warka?, the form requires the address. go rv.