Look for clues or cues from overseas ATM companies associated with Warka Bank.

[Muhammad]

There are many countries around the world which have ATMs exchanging paper money for coins and ATMs exchanging coins for paper money because the former are most needed by business people like the many hawkers or coffee shop owners whilst the latter are most needed by folks who want to get rid of too much coins at home. We already did several times overseas because such extra ATMs have existed. Why my previous latest post in the new thread was for us to focus on ATM companies? Banks usually don't own ATMs. ATMs usually belong to companies which invented them and there are long-term agreements between them regarding their contracts to keep it as most confidential. Banks don't own ATM companies and vice versa. I was working for a bank in the security department in my younger days to quite understand what was going on. Whenever it is just about one banknote, say, a new five-dollar note is to be added as another currency inside all the ATMs by one month's time, all the ATM technicians would be instructed to configure the whole system of an ATM by installing a new software. Even if they need to just press a button to change the whole configuration system without replacing it with a new software, they must be earlier instructed to get it done - not within 24 or 48 hours' time which is rather ridiculous for technical jobs which focus on more than a few hundreds of ATMs around Iraq. That is why ATM companies would be the second group as bank associates to know about an RV as fast as spreading fire. Look for such clues or cues, if you know. Befriend all the ATM technicians associated with Warka Bank if possible and they might help us all out to learn from a more reliable source rather than only from Iraqi folks down the streets and "Intels". We don't need to check for ATM technicians in Iraq who work for Warka Bank. ATM technicians outside Iraq who work for Warka Bank or other Iraqi banks may equally do well. Clerical/executive staffs in CBI, TBI, Warka Bank and other banks mayn't know as fast as ATM technicians because the latter have to work out configuration system relating to an RV who may be usually instructed by the bank directors' most trusted personal assistants in person and not by an office boy, a teller or a manager who work in the bank even for 20 years. So, we need to check it out with such ATM companies outside Iraq. Well, it is better late than never.

[Muhammad]

Warka Bank Launches Suite of MasterCard Payment Solutions in Iraq ...21 Oct 2009 ...

In line with the launch, Warka Bank also unveiled the completion of its ATM network

and the bank's plan to establish the widest ...

www.mastercard.com/us/company/en/.../warka_bank_mastercard.html

Warka Bank Launches Suite of MasterCard Payment Solutions in Iraq

Warka Bank Spearheads the Establishment of the Largest ATM Network in Iraq

Iraq, October 21, 2009 - Warka Bank, a leading investment and finance institution in Iraq, today announced the launch of a suite of MasterCard payment products for consumers and businesses in Iraq. In line with the launch, Warka Bank also unveiled the completion of its ATM network and the bank’s plan to establish the widest point-of-sale (POS) network in Iraq.

As an acquirer1, Warka Bank will process MasterCard credit and debit transactions through its extensive ATM and POS networks throughout the market. The entire suite of products that Warka Bank has launched includes MasterCard Standard, Gold, Platinum and Corporate cards, as well as Prepaid MasterCard and Gift cards.

“As the payments market in Iraq continues to develop and gain momentum, we are committed to work with a leading global player like MasterCard Worldwide to bring consumers secure, flexible and convenient payment products,” said Mr. Saad Al Bunnia , Chairman and CEO, Warka Bank. “We are delighted to have also launched the largest POS network in Iraq through our relationship with MasterCard. With each product catered to suit the lifestyle needs of consumers in Iraq, cardholders will now be able to better manage their finances, while leveraging the benefits that payment cards provide.”

Basel ElTell, vice president and regional manager, Levant, MasterCard Worldwide, said, “With a variety of MasterCard payment solutions now available to consumers in Iraq, they will be able to pay for products and services at 29.4 million acceptance locations around the world where MasterCard cards are accepted and access their funds quickly and securely via more than 1.5 million ATMs worldwide. We are delighted to collaborate with Warka Bank, a pioneering bank in Iraq, to launch a suite of products, which represents a momentous stride in further developing the Iraqi payments landscape.”

Payment cards provide consumers a secure and convenient alternative to cash and checks when making purchases. Payment cards, such as MasterCard credit cards, provide consumers with a line of credit. MasterCard debit cards provide consumers with a tool to manage daily expenses via accessing their personal funds directly from their bank accounts. Both card programs allow consumers to enjoy global acceptance, flexibility, convenience and security as consumers go about their daily lives.

With Prepaid MasterCard cards, consumers who obtain the card simply need to upload the card with any amount of funds they would like to store on the card, and they can use it for shopping, bill payments or everyday purchases. Prepaid MasterCard cards are accepted wherever MasterCard is accepted. Another flexible and convenient option for a gift for friends and loved ones is the Warka MasterCard Gift card. MasterCard gift cards work just like prepaid MasterCard cards and are accepted globally.

About Warka Bank

Warka Bank 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, communications, construction and various other sectors concerning the reconstruction of the new Iraq.

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard

[DSS900]

To facilitate these transaction that MasterCard and Warka anticipate, the microwave and network systems inspections need completion.

http://siteresources.worldbank.org/IRFFI/Resources/December08PrivateSector.pdf

"Overall implementation of the project is on track following initial procurement problems and severe price increases. The US$10 million of additional financing provided in October 2008 addressed a financing gap caused by USD/Euro exchange rate. Both the microwave and inter-banking networks have been installed and commissioned. All installations need to be inspected, to evaluate the quality of the microwave towers before handing the two networks over to CBI and ITPC. The contractor for inter-banking network will conduct 6 months of operations and management."

Does anyone know if they are done yet? Has there been an announcement with this regard?

[Muhammad]

Dudes and Chicks, please check it out about the existence of its Online Banking, Corresponding Banks, Internet Banking, ATMs, MasterCards and more! Does such information spell an RV success in the near future? Rethink and regain your confidence in your IQD investments just for the last time and be patient. We are the Cool and the Gang, my fellow American countrymen! Warka Bank needs to have a tradeable currency to run all future banking businesses worldwide and its good reputation is running wild and successful!

www.warka-bank.com/

www.mastercard.com/us/company/en/.../warka_bank_mastercard.html

Contacts

Georgette Tan MasterCard Worldwide +65-6390-5971

Warka Bank Launches Suite of MasterCard Payment Solutions in Iraq

Warka Bank Spearheads the Establishment of the Largest ATM Network in Iraq

Iraq, October 21, 2009 - Warka Bank, a leading investment and finance institution in Iraq, today announced the launch of a suite of MasterCard payment products for consumers and businesses in Iraq. In line with the launch, Warka Bank also unveiled the completion of its ATM network and the bank’s plan to establish the widest point-of-sale (POS) network in Iraq.

As an acquirer1, Warka Bank will process MasterCard credit and debit transactions through its extensive ATM and POS networks throughout the market. The entire suite of products that Warka Bank has launched includes MasterCard Standard, Gold, Platinum and Corporate cards, as well as Prepaid MasterCard and Gift cards.

“As the payments market in Iraq continues to develop and gain momentum, we are committed to work with a leading global player like MasterCard Worldwide to bring consumers secure, flexible and convenient payment products,” said Mr. Saad Al Bunnia , Chairman and CEO, Warka Bank. “We are delighted to have also launched the largest POS network in Iraq through our relationship with MasterCard. With each product catered to suit the lifestyle needs of consumers in Iraq, cardholders will now be able to better manage their finances, while leveraging the benefits that payment cards provide.”

Basel ElTell, vice president and regional manager, Levant, MasterCard Worldwide, said, “With a variety of MasterCard payment solutions now available to consumers in Iraq, they will be able to pay for products and services at 29.4 million acceptance locations around the world where MasterCard cards are accepted and access their funds quickly and securely via more than 1.5 million ATMs worldwide. We are delighted to collaborate with Warka Bank, a pioneering bank in Iraq, to launch a suite of products, which represents a momentous stride in further developing the Iraqi payments landscape.”

Payment cards provide consumers a secure and convenient alternative to cash and checks when making purchases. Payment cards, such as MasterCard credit cards, provide consumers with a line of credit. MasterCard debit cards provide consumers with a tool to manage daily expenses via accessing their personal funds directly from their bank accounts. Both card programs allow consumers to enjoy global acceptance, flexibility, convenience and security as consumers go about their daily lives.

With Prepaid MasterCard cards, consumers who obtain the card simply need to upload the card with any amount of funds they would like to store on the card, and they can use it for shopping, bill payments or everyday purchases. Prepaid MasterCard cards are accepted wherever MasterCard is accepted. Another flexible and convenient option for a gift for friends and loved ones is the Warka MasterCard Gift card. MasterCard gift cards work just like prepaid MasterCard cards and are accepted globally.

About Warka Bank

Warka Bank 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, communications, construction and various other sectors concerning the reconstruction of the new Iraq.

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard

[jwb]

Wonderful analysis Muhammud, you are a real thinker. Thank you very much, your words refreshed me!

[Muhammad]

Please have full confidence in Iraq's future! I don't think they will lop IQD to kill all successful banking plans of Warka Bank as well. They will be amongst the first droves of Iraqis to protest against such lop policy for sure!

[mariejose]

Muhammad, thank you very much for all your encouraging posts." Faith is taking the first step, even when you don't see the whole stair case"-Martin Luther King Jr

[Muhammad]

TBI Branches

Trade Bank of Iraq started with one branch in 2003. Now the bank has seven branches across Iraq and it keeps expanding.

In the early days, the focus was on TBI’s principal activity: Trade Finance. It later started expanding in areas such as products and services such as project finance, corporate finance and retail banking. To service its clients the Bank has expanded geographically in Iraq and now includes seven branches. TBI’s plan is to continue to do so throughout the coming years.

This is another competitor in the banking businesses and it has a reputation for being a fiercely competitive player. Does the expansion of TBI spell an RV success in the near future as well? Please check its link right down here:

www.tbiraq.com/

Check this out as well:

www.cbi.iq/

[k98nights]

Thank you for your research and thoughts Muhammad. Very useful indeed.

[braywilkins]

Very nice work.

[LazySusan]

... good thoughts Muhammad. I have a question .... why does Iraq really have to have an internationally tradable currency? They deal in USD, their budget is in USD. In fact everything that we hear about Iraqi financial dealings are in USD. They can trade with the world in USD, right? I realize we've heard the rumor that they're getting rid of, or phasing out, the USD in Iraq, however, at this point to my knowledge, that's a rumor. So unless we find concrete proof that they really are phasing out USD, then they really don't need an internationally tradable currency, right? Don't get me wrong, I'm one of the ones who believe an RV is soon, based on my own research of the history of currency in regards to war torn countries - and how they are rebuilt.

Here's another question: when other countries, for instance France, Germany or Japan, generate financial transactions with the US, how do they pay us? In USD or their currency? I really don't know, and don't know where to find that. Just some things for us to think about as we continue searching for RV answers.

[jim k]

Outstanding info sir. Thanx for shining so brightly during dark times.

[Muhammad]

... good thoughts Muhammad. I have a question .... why does Iraq really have to have an internationally tradable currency? They deal in USD, their budget is in USD. In fact everything that we hear about Iraqi financial dealings are in USD. They can trade with the world in USD, right? I realize we've heard the rumor that they're getting rid of, or phasing out, the USD in Iraq, however, at this point to my knowledge, that's a rumor. So unless we find concrete proof that they really are phasing out USD, then they really don't need an internationally tradable currency, right? Don't get me wrong, I'm one of the ones who believe an RV is soon, based on my own research of the history of currency in regards to war torn countries - and how they are rebuilt.

Here's another question: when other countries, for instance France, Germany or Japan, generate financial transactions with the US, how do they pay us? In USD or their currency? I really don't know, and don't know where to find that. Just some things for us to think about as we continue searching for RV answers.

Do you know what the saying Nothing ventured nothing gained is truly about? Just in my opinion through years of business experience, upon the day the revalued IQD turned tradeable, all the Forex Traders and international bankers will rush out to invite all Iraqi banks into all kinds of businesses and services turning an instant goldmine for all and may multiply their business profits ten-fold sufficient to pay us all. And if I am not wrong there is a possibility if IQD is revalued on that day, we may not receive our windfall on the next day and perhaps, we may have to wait for a week or more when they have settled a long list of business associates worldwide in due course. When IQD rate overrides USD, things may be on their side multiplying all its values wildly and successfully instead of the current non-tradeable IQD is still incapable of doing much more to alleviate poverty in their own homeland. Once revalued, it should increase the purchasing power of their nation and hence more employment and more employment means improving their living standards as well and so for. It is better late than never. IMO.

[Fi3ry_Ph03n1x]

Here's another question: when other countries, for instance France, Germany or Japan, generate financial transactions with the US, how do they pay us? In USD or their currency? I really don't know, and don't know where to find that. Just some things for us to think about as we continue searching for RV answers.

Susan, check into Special Drawing Rights from the IMF. I just learned about this recently, and don't have a good grasp on it, but it looks to me to be something like a mutual fund of currencies that governments use to trade and loan to one another. They are listed on CBI's main page and info is available on IMF's website as well.

FP

[epicmotors]

I've posted this in a few spots,

Ok folks, I feel like this a great post but keep in mind that the total amount of dinar in circulation 1990 was 25 billion that was worth approximate 70 75 billion us dollars. Now, there is 25 trillion dollars in circulation. TRILLION!! that is a huge huge # 25,000,000,000,000.00 compared to 25,000,000,000.00 that is 1000 times more notes than it was originally. Maybe they purposely printed 1000 times more currency knowing that they would redenominate in the future where both bills would carry the same value, how ever not the value stated on the note itself!!!!!! which is a lop by redenomination. which will bring the total # of bills in circulation to the same number as before (1990), so in the end no gain no loss same # of bills which is easier to bank with less handling as they stated. I beleive the reval will be for the redenominated currency. Example 25,000. exchange for 25 then at some point and time either at the same time or later after the redenomination takes place the reval will take place for the new currecny only, for instance lets say it revals to three us dollars keeping it simple for demonstration purposes then the 25 dinar would then be worth 75 us dollar, which would make things the way they were before (1990) or at least close to it. What does that mean for us, well forget the million dollar dream, but instead a more conceivable realistic return on your investment then the proposed gains of 1000 times or more. three times is still a good ROI better then most I would say. I came into this with high hopes to be indepently wealthy as did most and now it is very clear if you open your eyes to the reality that it is just not possible to revalue 25 trillion dollars more then all the worlds money incirculation combined. I just wanted to shed some light on my my perspective which is only my oppinion, I respect the oppinion of others as well and hope the best for this investment for the betterment of all people. So dont go quiting your day job. ty. aka epicmotors

[ATexasFan]

Very good. I think we are going to look back after the RV and see there were many clues staring us in the face! It will be interesting to know how the story ends.