Is Warki Not Trading?

[Goldiegirl]

I've read through many of the posts and I thought Warka Bank was to be trading again soon. Is Warka (BWAI) not trading? Is it expected to trade on the ISX?

[hoopdog]

I've read through many of the posts and I thought Warka Bank was to be trading again soon. Is Warka (BWAI) not trading? Is it expected to trade on the ISX?

Contact Warka and ask them if you want a solid answer.

isx@warka-bank-iq.com

Edited January 12, 2012 by hoopdog

[uncirculd]

Observance of someone dear to them. death. holiday

[Goldiegirl]

Has anyone been able to purchase BWAI in the past but can't now?

[TrinityeXchange]

Hello there Goldiegirl. Unfortunately Warka Bank is not being currently traded on the ISX and has not for some time now. They fell into trouble due to debts and liens and financial obligations gone not met. They are currently soliciting the ISX Commission to allow them to be traded again. Many investors are awaiting the response as their monies have been tied up in suspended trading.

[Goldiegirl]

Thank you again Trinity for sharing your information. You posts have been most helpful in learning how to invest.

[DinarBot]

Hello there Goldiegirl. Unfortunately Warka Bank is not being currently traded on the ISX and has not for some time now. They fell into trouble due to debts and liens and financial obligations gone not met. They are currently soliciting the ISX Commission to allow them to be traded again. Many investors are awaiting the response as their monies have been tied up in suspended trading.

This is 100% Correct.

[Synaptec]

Does this make our money that we have in Warka at risk?

[BrokeNoMore]

Does this make our money that we have in Warka at risk?

I don't believe that it is, any more than any where else. They've cleaned up their mess and are applying for admission to ISX again. That would mean all is in good order.

[HopefulTxn]

I've read through many of the posts and I thought Warka Bank was to be trading again soon. Is Warka (BWAI) not trading? Is it expected to trade on the ISX?

Here is an excerpt from the ISX 2011 Annual Report regarding Warka:

On October 29 2011, ISX Board of Governors announced the delisting of Warka Bank,

because of remaining more than six months out of the trading in the ISX, since February

8, 2010. To have the bank GAM.

According to the ISC the ISX Board of Governors has no right to delist companies, and

companies could be permitted to list and be delisted only by orders from the ISC.

On December 20, 2011 the ISC send warning letter to Warka Bank, the ISC warning letter

to Warka is stated in a manner that indicates Warka is only suspended and not delisted.

In its warning letter to Warka Bank the ISC giving the bank two months to finish its

obligations, or it will be delisted.

LINK

Given the time-frame they put, that would put Warka at late February to possibly be delisted from the exchange if something doesn't happen.

There is an article from October that states their shares have a lien against them by the Registrar and the Securities Commission, but it didn't list a reason why. LINK

There are also some comments out there about Standard Chartered of London possibly taking over Warka, so they could possibly be in talks and not worrying about the ISX stuff at the moment.