jmdsurf45 Posted September 30, 2011 Report Share Posted September 30, 2011 I recently purchased the ISX Report plus I've recieved correspondance from Warka on setting up an ISX account, I'm not clear on who does the notorizing, the form doesn't indicate but warka says it has to be a Iraqi Embassy or Consulant in the US from what I understand. Thanks!!!!! Link to comment Share on other sites More sharing options...
ClermontThinker Posted September 30, 2011 Report Share Posted September 30, 2011 Just curious... Would you not expect the ISX Report to detail the how to of the finer points?? Go RV !!! Link to comment Share on other sites More sharing options...
TrinityeXchange Posted October 3, 2011 Report Share Posted October 3, 2011 Just curious... Would you not expect the ISX Report to detail the how to of the finer points?? Go RV !!! i own the isx report and it is not well written. i understand jmd's confusion. Let me provide clarity here. Notarization will be performed by a accredited Notary of your state. You can go anywhere pretty much to find one. You will have the Notary notarize your document. You will scan the document and email it to the broker. You are not done. You will send the notarized document to the AACC (Arab American Chamber of Commerce). They will CERTIFY the documents; validating them to be used within Iraqi jurisdiction. When you receive the certified document back, you will promptly scan them and email them to your broker. You are done. If you are doing this for a corporation, it will require another step and higher price. Please read my detailed instructions hereto help provide even more clarity. Link to comment Share on other sites More sharing options...
normand Posted October 3, 2011 Report Share Posted October 3, 2011 I believe you are supposed to send the originals to Warka's ISX dept. Keep a copy for yourself. The cost which is hard to figure out from the ISX report, for the Arab American Chamber of Commerce verification is only $103. Adam Montana's book gives much better directions. I have sent my originals to the ISX dept and have received acknowledgement that they received them. Getting approved by the ISX itself takes a while longer. Link to comment Share on other sites More sharing options...
jmdsurf45 Posted October 4, 2011 Author Report Share Posted October 4, 2011 Here is the response from Warka Dear Sir, To participate in the Iraqi Stock Exchange according to the firm regulations and requirement set by the ISX to purchase stocks under your name you must first have the following documents certified by the Iraqi Embassy or Iraqi Consulate in your country. 1- Valid Clear Colored Passport Copy and Valid Clear Colored ID Copy 2- Address and contact details. 3- Your three specimen signatures for verification. The documents must bear the Iraqi Embassy seal and are to be sent to our mailing address where it will be submitted to the ISX for verification and approval. Once approved the ISX (Iraqi Stock Exchange) will register your name and information in their electronic system issuing your investment trading number within a period of 2- 3 weeks where once issued our ISX department isx@warka-bank-iq.com will confirm to proceed accordingly with purchasing stocks in your good. To buy stocks please send a signed buy order by email to our ISX department isx@warka-bank-iq.com indicating the company and number shares that you are interested in purchasing authorizing our bank to deduct the purchase amount and commission fees and by visiting the official ISX website www.isx-iq.net <http://www.isx-iq.net/> bulletin and reports - electronic bulletin you can view a list of the companies that are currently trading and updated market prices to base your stock order noting that the minimum buy order is 200000 shares per company per session and that the commission fee is 1% per buy order. The same fee and procedure is applied when selling shares. For any further information please feel free to contact our ISX department directly isx@warka-bank-iq.com to be of best assistance. Best regards, Mohammad K. Issa Deputy Managing Director Senior Executive Warka Bank for Investment and Finance 1 Link to comment Share on other sites More sharing options...
TrinityeXchange Posted October 4, 2011 Report Share Posted October 4, 2011 The documents must bear the Iraqi Embassy seal and are to be sent to our mailing address where it will be submitted to the ISX for verification and approval. interesting. i received no such directions from other brokers. i just forwarded an email to Al-Jazera and they were fine with the Iraqi Embassy certified documents being sent via email for ISX submittal. not sure why Warka request the documents sent via the postal system. Link to comment Share on other sites More sharing options...
jmdsurf45 Posted October 5, 2011 Author Report Share Posted October 5, 2011 I went back and read Adams book and he lays if out very clear on how to get started. I should of looked there first. Link to comment Share on other sites More sharing options...
TrinityeXchange Posted October 6, 2011 Report Share Posted October 6, 2011 i just forwarded an email to Al-Jazera and they were fine with the Iraqi Embassy certified documents being sent via email for ISX submittal. not sure why Warka request the documents sent via the postal system. just to follow up, i received my isx account number 2 days after forwarding them the email with the scanned documents attached. my originals are sitting safely in my home office. Link to comment Share on other sites More sharing options...
jmdsurf45 Posted October 7, 2011 Author Report Share Posted October 7, 2011 Thanks!!! So you just emailed your documents instead of sending them via postal system per my response from Warka and Adam's book? Did you send your notarized copy to the embassy here in the US first with the money? As long as it took me to get my warka account and online service set up I don't trust the mail service to Iraq...LOL. I'm definitively going to try your way. Link to comment Share on other sites More sharing options...
TrinityeXchange Posted October 7, 2011 Report Share Posted October 7, 2011 Thanks!!! So you just emailed your documents instead of sending them via postal system per my response from Warka and Adam's book? yes, i scanned and emailed my Iraqi Embassy certified documents Did you send your notarized copy to the embassy here in the US first with the money? yes, after getting my documents notarized over at the mail express store (or whatever the name of it is), i sent them to the AACC with a check enclosed As long as it took me to get my warka account and online service set up I don't trust the mail service to Iraq...LOL. I'm definitively going to try your way. i can't promise that warka will be cool with it but the isx was certainly cool with it. like i said, i went through a broker instead of through warka bank. my experience with a broker has been swift. the things i've heard about warka's customer service steered me away. as a matter of fact i emailed the same iraqi embassy certified docs to warka the other day to see if i could open a bank account and i have yet to hear back from them. that was about 3 days ago. Link to comment Share on other sites More sharing options...
jmdsurf45 Posted October 8, 2011 Author Report Share Posted October 8, 2011 Yeah Warka is a pain in the rear end. It took me 2 months to get an account and online access. Since then I have wire transferred money into my account with no problems. But, I'm going to take your word on the broker. Wold PM me which one you are using? Thanks! Link to comment Share on other sites More sharing options...
TrinityeXchange Posted October 12, 2011 Report Share Posted October 12, 2011 Just thought I would post a quick update. The other day, for the heck of it, I sent my scanned AACC document to Warka requesting a new account. The documents I sent were the personal docs (the ones I call identity docs...not my LLC docs). The personal documents include the passport, drivers license, three signature page and address. Well I forwarded them onto Warka in an email and ' here is what I sent: ===================================================== October 5th - to c.accounts@warka-bank-iq.com, ifrd@warka-bank-iq.com Hello, I would like to open a bank account with Warka Bank. Please find all of the proper documentation attached. Kind regards, ===================================================== here is the reply: ===================================================== October 9th - Dear Sir, Your request will be passed to our customer accounts department to establish your USD and IQD savings account where once opened they will confirm your accounts details and wire transfer instructions to proceed with funding your account. Your documents will be passed to our ISX department to be verified where once confirmed it will be submitted to the Iraqi Stock Exchange to process and register your information and documentation within their electronic system where once registration is completed an investment trading number will be issued which our ISX department will confirm by email noting that it takes 2-3 weeks for the Iraqi Stock Exchange to issue an investment trading number. Should you have any further questions please contact our ISX department isx@warka-bank-iq.com they will be of full assistance. Should you have any further questions or inquiries please take a moment to visit our website www.warka-bank.com news bulletin to view the latest notices and contact details of the related departments that will best handle your inquiries. We have several departments that will specifically handle each banking affair to your best interest by contacting them directly as they handle customer inquiries and transactions. Best regards, ================================== THEN I RECEIVED THIS ================================== October 11th - Dear Mr. *******, Please note that we confirm receiving your ISX documentation which will be passed to our brokerage firm to verify your information processing the related forms to register your information at the Iraqi Stock Exchange where once finalized by the Iraqi Stock Exchange your investment trading number will be issued which we will confirm and send accordingly. Please note that this process as set by the Iraqi Stock Exchange takes 2-3 weeks to complete... Should you have any further questions please contact us we will be of full assistance and support. Best regards, ISX Department Warka Bank for Investment and Finance ================================== So it looks like, from my little experiment, that when dealing with Warka, UNLIKE THE OTHER BROKERS, you should firstly get your documents certified by the Arab American Chamber of Commerce. Warka, IMHO, only has time for official documents while the other brokers allow you to send notarized documents and follow up 15 days later with the certified embassy documents. In other words WARKA DONT PLAY THAT. HTH Link to comment Share on other sites More sharing options...
haymon Posted October 12, 2011 Report Share Posted October 12, 2011 Yes Warka does take Timeeeeeeeeeeee... But I hope they get better and that my money is safe. Is everything in life a speculation or a gamble! Link to comment Share on other sites More sharing options...
Steelwire Posted October 21, 2011 Report Share Posted October 21, 2011 just to follow up, i received my isx account number 2 days after forwarding them the email with the scanned documents attached. my originals are sitting safely in my home office. So Trinity, your brokerage firm is Al-Jazera. How do you send the funds to them for you investments? I have a Warka account and am not sure if funds can be transferred electronically from Warka or just how it is done. I too am a bit tired of dealing with warka and them taking their sweet time on matters. Thanks for you response in advance. Link to comment Share on other sites More sharing options...
TrinityeXchange Posted October 21, 2011 Report Share Posted October 21, 2011 hello my friend. i will answer as best i can. So Trinity, your brokerage firm is Al-Jazera. affirmative How do you send the funds to them for you investments? I wire the funds from my bank account to their bank (Investment Bank of Iraq). Al-Jazera is the beneficiary listed on the wire form. On the wire form I have to list an intermediary bank as well (The Housing Bank for Trade and Finance). Here is the letter from Al-Jazera: We enclose an attachment which shows how you transfer money from your bank in the USA to The Housing Bank for Trade and Finance (swift code HBHOJOAX),Account No. 544-7-28542, which will be transferred to The Investment Bank of Iraq (swift code IVBIIQBA), Account No.25555$. Please let us know when you make the transfer by sending us a copy of the transfer. Also tell us what shares on the ISX you would like to buy and how much money to invest in buying them as we shall begin to trade as soon as the transfer has been completed. We look forward to hearing from you soon. Best regards, Hasan A.L.Abdul-Karim, CEO, Aljazera Brokerage Company. I have a Warka account and am not sure if funds can be transferred electronically from Warka or just how it is done. I too am a bit tired of dealing with warka and them taking their sweet time on matters.Thanks for you response in advance. i am certain warka can transfer funds straight from your bank account there to The Investment Bank of Iraq. and because it is within country, you shouldn't have to go through the intermediary bank which I believe is located in germany. who you would email for this, i do not know. but just as you would require them to wire funds back to the usa when you demand your money, they should be able to follow the same procedure to wire money intra-country. make sense? Link to comment Share on other sites More sharing options...
cvsim83 Posted October 23, 2011 Report Share Posted October 23, 2011 Hi Trinity, Can you please help me with AACC (Arab American Chamber of Commerce) address? Thank you Link to comment Share on other sites More sharing options...
guster Posted October 23, 2011 Report Share Posted October 23, 2011 Hi Trinity, Can you please help me with AACC (Arab American Chamber of Commerce) address? Thank you Arab American Chamber of Commerce US Legalization Attn: Arab Chamber Certification 1615 Bay Head Rd. Annapolis, MD 21409 Link to comment Share on other sites More sharing options...
DinarBot Posted October 23, 2011 Report Share Posted October 23, 2011 interesting. i received no such directions from other brokers. i just forwarded an email to Al-Jazera and they were fine with the Iraqi Embassy certified documents being sent via email for ISX submittal. not sure why Warka request the documents sent via the postal system. DinarBot team scanned and sent via email. They were excepted by Warka. Link to comment Share on other sites More sharing options...
TrinityeXchange Posted October 23, 2011 Report Share Posted October 23, 2011 DinarBot team scanned and sent via email. They were excepted by Warka. i concur. i have recently opened an account with warka and they accepted my scanned embassy documents. no mailing required. Link to comment Share on other sites More sharing options...
sourpuss Posted October 26, 2011 Report Share Posted October 26, 2011 pls help me understand why warka takes so long...ive had my account numbers for 2 weeks now and i requested online banking so I can see my funds and its been two weeks..im concerned about using warka as my broker..will they get my email to do the transaction I request,,how will I know because they are so slow..that would be so outside my comfort zone...so Im leaning toward taking Trinityexchange's advice and use their broker:) thanks for the tip:) trinityexchange..what are your broker's fees? Link to comment Share on other sites More sharing options...
TrinityeXchange Posted October 26, 2011 Report Share Posted October 26, 2011 trinityexchange..what are your broker's fees? good question and quite honestly i do not know hmmmmm....i wired over $1200 the other day and broker reported i had $1150. broker fees perhaps? intermediary wire fees? i will have to inquire to find out. stay tuned... Link to comment Share on other sites More sharing options...
phxvalleygirl Posted December 11, 2011 Report Share Posted December 11, 2011 What is the contact info for Aljazera Brokerage? email? website? Thanks! Link to comment Share on other sites More sharing options...
haymon Posted December 11, 2011 Report Share Posted December 11, 2011 The broker does not charge a "fee" for funds being wired. They do have a 1% buy fee and a 1% sell fee. The fees for wire transfers come from the initiating bank , ( yours ) and the interim bank just before it gets to the broker. I wired $1000.00 USD from my bank. My bank took $40.00 and the Investment bank of Iraq took $25.69 fee. I got the balance in USD to the broker and they exchanged it into IQD. Then I placed my buy order. Link to comment Share on other sites More sharing options...
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