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 Warka Bank - "What is About to be Said" - Sat. PM KTFA Thoughts, News, Chat w/ Frank26 3/18/18

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PostSubject: Warka Bank - "What is About to be Said" - Sat. PM KTFA Thoughts, News, Chat w/ Frank26 3/18/18   Mon Mar 19, 2018 8:19 am

KTFA

Tommy17 » March 18th, 2018


Thanks WS for the article. I find it interesting warka offering 1share of warka stock for 1 iqd. Wow

Imwright1 » March 18th, 2018

That's 1 to 1

Walkingstick » March 18th, 2018

To our esteemed and distinguished Warka clients,

3/15/2018

Warka Bank for Investment and Finance is delighted to inform its fine clients that the distinguished Central Bank of Iraq has approved that our clients participate in the upcoming capital increase. Warka clients are now permitted to purchase Warka stock from the funds depoisted in their bank accounts participating in the capital increase in accordance with clause 56 no. 4 of the Iraqi Company Registration Law the adjusted law no. 21 for the year 1997 .

There are no limitations to the amount of shares purchased where Warka clients are permitted to use their entire deposits to purchase Warka Stock participating in the Capital increase.

Warka clients are kindly requested to submit a signed authorization letter authorizing our bank to withdraw funds from their account to purchase the stock indicating your account number, signature, the funds in IQD to be withdrawn from your account as well as a clear colored copy of your id and passport.

The Warka stock will be purchased at a value of 1 IQD per Warka share and will be registered in the clients 's good name in the ISX depository system where the stock will re-trade regularly back in the Iraqi Stock Market once the general assembly hearing and capital increase procedures have been completed.

Warka clients wishing to participate in the capital increase are kindly requested to send their authorization letter with the full details indicated above to our brokerage office 3044@warka-bank-iq.com within two weeks from posting this notice.

Wishing all our Warka clients prosperity and growth true success and much fortune

Respectfully,

Warka Bank for Investment and Finance
http://www.warka-bank.com/?0d64a1934dcafd4bf6a2baf7b165

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Hopeful322: Didn't Turkey drop 6 0's ???

Walkingstick: Redenomination...

MSG: Agreed. Many countries have redenominated in the past, and I can't for the life of me believe that Iraq will be different. Thank you for your insights..

Walkingstick: Exactly....Seems, we still have confusion regarding the redenomination process .... Example....Romania, too.. redenominated in 2005... 1, of their factors... wanting a currency that would be respected/ taken seriously prior to joining the EU in 2007

Realtormc: Please no talk of LOP on F26 the forum. look at wikipedia read farther on the value was increased several times by "RV"
https://en.wikipedia.org/wiki/Turkish_lira

Walkingstick: A New Turkish Lira was worth roughly 1.8 to the Euro, after the fact... eventually settling

Frank26: SIR ...(Walkingstick) ....... TOMORROW SHOULD BE AN INTERESTING DAY ............ LETS SEE WHAT THEY SAY.

Walkingstick:
Would you like to know now, or wait until tomorrow.... Seriously, we should be a couple of things in print in the next day or two...


Frank26: REALLY ??? !!! ................. NOW HOW THE $#@@ AM I SUPPOSE TO GO TO SLEEP NOW ??? !!!

OF COURSE I WANT TO KNOW NOW ..............

BUT .................. DUE TO THE FACT THAT .......... WE HAVE WON............... I'LL WAIT THE NEXT FEW HOURS TO COME.

MY GRANDDAUGHTER WILL BE BAPTIZED TOMORROW THEN WE GO OUT TO EAT WITH FAMILY.

CAN I CALL YOU POST 4 PM EST TOMORROW?

Dew7: Seriously? How can you wait? My stomach is in an excited KNOT...
In all seriousness thank you WS for everything past, present, and future... what a force of strength you have been for KTFA

Frank26: BECAUSE I KNOW ........ IMO......... WHAT IS ABOUT TO BE SAID...(wink) ..... WS TALKS TO YOU ........... FOR A REASON. ALOHA DREAMS KONA \M/... NITE ​

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Don961 » March 18th, 2018

15 × 15 Developmental model


Author: Yasser Metwally

18/3/2018 12:00 am

I drew attention to an economic report on Turkey's experience in developing its capabilities and building a solid economy over a period of 15 years after being embroiled in economic crises and burdened with debt, but later became one of the world's strongest economies.

Since 2002-2015, Turkey has moved from 117th in the world to 18th in the ranking of countries' economies. The annual per capita income rose from $ 3,300 to $ 10,800.

The question is: How did Turkey achieve this growth and these mutations? The answer is that, as stated in the report, it abolished 6 zeros that filled the interfaces of its currency and its gross domestic product rose from 230 to 840 billion dollars and was able to repay all its debts to the International Monetary Fund in 2013, thus bringing the page 52 years of external borrowing.

The tourism industry, which has paid special attention to it, said it ranked as the sixth country in the world to attract tourists, with only 109 million people in Istanbul.

In the field of transport, the number of internal airports, including 55 airports, one of them above sea level, as well as thousands of kilometers of rail lines and metro networks and the construction of bridges and tunnels in the bottom of the sea through which to connect the two continents of Asia in Europe.

In the field of education compulsory education was imposed until the completion of general secondary school, while the number of universities to 186 universities, except for the tremendous development in the industry sector.

The bottom line is that the infrastructure projects have paid great attention to achieving an advantage for their rising output. The language of figures is important here to compare it to what has been achieved in Iraq after 15 years of change, but given the circumstances, challenges, size of the population and area of ​​the two countries.

This experience and other international and regional experiences are marketed to the necessity of using them to the extent that it achieves the growth of our economy and not necessarily the application of a replica, but we summarize its content, its implications and its results as long as we are about to rebuild the country and a future development revolution.
Now the starting points are available.

The international movement towards Iraq is clear and we talked about it in previous columns, so what is required to take the time to reach advanced growth rates to catch up with global development? This question is before the experts of finance and economy, economic policy makers and decision-makers, hoping that the beginnings are based on the selection of projects capable of promoting the economy and growth of the country and the choice of income-generating, or otherwise can not wait for another 15 years link

Walkingstick » March 18th, 2018

Thanks Don... good read

Frank26 » March 18th, 2018

COOL!!!

Don961 » March 18th, 2018

Iran .... Sunday, March 18, 2018

Forex Deposit Rules Updated

The latest update of regulations concerning foreign currency deposits in banks has been released by the Central Bank of Iran, according to which banks are required to return the original amount of the deposit plus its interest in hard currency to the customer upon demand.

The bank emphasizes that if the customer had made his or her deposit in a foreign currency, the bank is obliged to pay the deposit and/or its interest in the same currency.

The announcement would remove fears by some customers that if they deposited in a hard currency in a bank or financial institutions, at the time of withdrawal, the bank would offer them the equivalent in rial.

As the Iranian currency is prone to fluctuations, investors are wary of parking their foreign currency in banks, fearing they would lose their money.

Another reason hard currency deposits in banks was the country's multiple exchange rate system whereby banks choose to convert hard currencies at lower rates.

https://goo.gl/hYx1aD

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PostSubject: Re: Warka Bank - "What is About to be Said" - Sat. PM KTFA Thoughts, News, Chat w/ Frank26 3/18/18   Mon Mar 19, 2018 10:20 pm

Frank, you have nothing, but lying has never been a problem for you.

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PostSubject: Re: Warka Bank - "What is About to be Said" - Sat. PM KTFA Thoughts, News, Chat w/ Frank26 3/18/18   Tue Mar 20, 2018 4:25 pm

Hmm..

BGG also reported on this interesting bit Warka Bank news  .. stock offering of a 1 to 1 exchange!  
The concept caught my eye and as a spec investor. I thought hey what the heck, maybe dumping a near worthless / non tradeable dinar for a third world bank stock .. could be the best win-win solution to come out of ths scam whole..

My 1st thought, even if the currency never revalues to above a penny, the country may show flashes of stability / normalization & eventaully economic re-development .. and owning stock is a Bank that is literally is on the ground floor of an emerging market isn't the dumbest idea, right?

Who knows,  after recaptialization, years of growth, branch expansion into new capital markets around the globe.. ie, NYC, London , Paris, Rome,  etc. etc.. My $10k minus rat fees, could turn into $100K before I'm dead.. it's always a smart idea when you have everthing to gain and nothing to lose, right? 

But then I thought, silly me .. this info is coming from criminals, con men, and worse MLM'ers .

So I googled the bank and sure enough I found a Warka Bank Victims page on F/B .. of course they're looking for fresh stock holders.. because the old ones want their money back. It's very likely this bank is not too big to fail, cause it already failed, and it's on a resperator and a Cleric is about to give it it's last rites. 

See info below : You can't make this shit up, but currency guru's can  #DOJ.gov #FBI.gov #IRS.gov #SeeACrimeReportACrime 


Hi everyone.. I received this input from our friend Mr. Aliraqi and wanted to share it with you all.
It explains our banks and other similar banks status in loos Iraq.
Hi everyone, 
Subject / Analysis and some suggestions 
I’m an Iraqi living in Baghdad, and I’m a victim of the “Economy Bank” which had its troubles since 2014. 
The Iraqi private banks who don’t return their customers money are, as far as I know,: 1) Warka, 2) Economy 3) Dar Alsalam 4) Dijla wa Alfurat 5) Abr Aliraq 6) Basrah. 
I wish to point out that most of you don’t understand things here, that’s why you are witnessing things which have no clear explanation. 
Iraq is a country heavily buried in corruption. For many years it has been ranking in the bottom of the list of countries in terms of corruption. You can check Transparency International’s website and see where Iraq ranks !! 
Worst still, the corruption is not only financial. Many influential people have close connections with corrupt security officers or corrupt judges, they can accuse anyone of any charge (like terrorism or any other serious charge). Let alone sending someone to “finish” who opposes them. 
With regard to our subject “corrupt banks”, some of these banks have connections and stretching arms with parties / politicians / security officials / judges .. etc. That is the reason that most Iraqis are afraid to claim for their rights (including our topic: Non-return of customers’ deposits at some private banks). 
But .... you foreigners can do more than us here in Iraq. Because first of all you are out of the reach of those whom I’ve mentioned, and second of all because most of you have foreign nationalities which defend you against such accusations. 
But, I have a suggestion that can help us: 
Using the media: Fortunately, there are a lot of media channels and newspapers in Iraq. Experiences have shown time and again that when light is shed by the media on any given subject, this cause will be given attention by the authorities. 
The main problem of the victims of such banks is that they don’t have the E-mails and contact details of each other. That’s why mass protest standings do not occur in the streets. A few months back the Arabic Facebook’s page of Warka victims organized a standing protest near the Central Bank, only a handful of people came. I asked their organizer of whether the channels came to cover it, he replied that they refused to come to a demonstration of only such a few people. 
I suggest establishing a Facebook’s page of the victims of ALL the banks, in order to gain populational mass. So I suggest establishing a Facebook’s page called (ضحايا بعض المصارف الأهلية في العراق) (victims of some private banks in Iraq). Then the page’s establisher can “promote” this page by using Facebook’s promotion tool, where he will “pindrop” to the targeted readers in the heavily populated cities (especially Baghdad) to gain more “likes”. The more “likes” the page will get, the easier it will be found by readers and will have more participants. This could be done by using a payment card (Master’s/Visa .. etc.). In my estimation, spending an amount like 2,000 Dollars will get about 60,000 likes. This amount can be accumulated by participants (each according to his capacity). Then, let the page’s readers participate and maybe organize efforts (such as street standings) to further their cause. There should be an Arabic & English speaking person monitoring the page in case of misappropriate postings/comments. 
The page’s organizer can add members from other Facebook pages: For example: Dar Alsalam Bank’s victims Facebook page’s link is: 
https://www.facebook.com/%D8%B2%D8%A8%D8%A7%D8%A6%D9%86-%…/…
While the Facebook’s link of the Arabic page of Warka’s Bank is: 
https://www.facebook.com/groups/783060431793021/
As for the Economy Bank, unfortunately I did not find an important page for their victims.

Final thoughts: 
1) As for myself, a victim of the Economy Bank, I have not received any batch since over two years. The batches I previously received were cut from two sides: 1) The annual interest was lowered from 6 to 8 percent to 1 to 2 percent 2) I deposited in Dollars, but they return me in Dinars, at a price different from the market !! 
2) To end this article with a true joke, a few months ago I took a taxi in Baghdad and was speaking to the taxi’s driver about the corruption in Iraq in general. He said to me: Take for instance my brother, he works in the Central Bank in one of its committees supervising the private banks. In just one year’s work he is buying a land worth almost 200 million Dinars !! (He’s just an employee, so how much do his superiors receive ??).
Here is more from Mr Aliraqi..............
You're most welcome. Just some additional notes: 1) The problem is not only attributed to the banks, some depositors are also to blame (due to the same problem: corruption): I'll give you an example: About two years ago I received a client in my small private business' office, she was a lady who was a branch manager of "Dijla Walfurat Bank" (Tigris & Euphrates Bank), I talked to her about my problem with the Economy Bank. She replied that if things continue as they are then all private banks will face the same problem. I asked her how so? She gave me an example of how in her bank they have given a loan of about 15 million Dinars to a client to buy a car. This client is not returning the agreed upon amount to their bank. The reason is that he's a judge in a court, so their bank is too afraid to enforce law to force him to pay them their dues. Not surprisingly, about one year from this incident, this "Dijla walfurat Bank" went under the Central Bank's custody. 2) Sometimes the banks are victims of governmental policies. For example: Some contractors have to repay their loans they borrowed from the banks, but about one and a half years ago the government decided to suspend full payments of some contracts which are achieved for the government, because there is immense pressure on the State's budget due to the requirements of the war against ISIS and also due to the decrease in international oil prices. Instead, the government only pays about one half of the contractor's dues and issues "sovereignty bonds" as a promise that one day the government will pay these contractors their dues. But some of these contractors have taken loans from banks to finance their contracts and are thereby unable to repay to the banks. So the banks have a legitimate grievance in this regard. With your case "Warka Bank", the problem was primarily caused by a poorly considered governmental decision in about 2010 to immediately withdraw all governmental money from all private banks, when the news came out to the public, a huge amount of people started withdrawing from Warka because they know that the bank will not endure such huge withdrawals all at once, so the bank collapsed. This - in my point of view - is a legitimate grievance from Warka explaining their collapse. But for how long is it a legitimate excuse for not paying the clients' deposits? Many years have passed and they are making a lot of money due to the many windows available by the Central Bank for Warka's operations here (for example: Daily tradings in the "Foreign currencies window". So the profits Warka have been making in the last few years (using of course the depositors' money) should have compensated them for their losses due to such quick governmental decision in about 2010. 3) I also wish to point out - in general - that the number of private banks not being able to return customers' deposits will probably increase by time. 4) I also want to point out to a certain problem: Side dealings by some of these banks' corrupt official with the public. There are widespread rumors that some banks' official make deals with some clients in which these clients sacrifice a percentage of their deposit (say 30%) in return for their immediate withdrawal of their deposit. If such deals are performed legitimately and on official records then there's no problem with that because the pressure on the banks' assets will reduce, but the problem is that such dealings are usually done unofficially (away of the bank's formal registers) which means that there will be pressure on the already pressured banks' assets (meaning that the other clients will receive lesser batches and by delayed dates).

Please comment and suggest you input and how to help. I have created this page years ago despite my limited knowledge of how to manage it ........... Any one likes to help?
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PostSubject: Re: Warka Bank - "What is About to be Said" - Sat. PM KTFA Thoughts, News, Chat w/ Frank26 3/18/18   Wed Mar 21, 2018 7:44 am

Good find, Tinef!


More on Warka Bank Victims FB Page:

This Page "Warka Bank Victims" is for those people and entities who have lost assets in Warka Bank of Iraq. The banks insolvency have resulted in locking the assets of many people in Iraq and worldwide. This Group, through it's page here, hopes to put its voices and energies together to exert pressure on the Bank, the Iraqi Central Bank and the Iraqi government to make whole assets lost at the bank fulfilling responsibilities under the law of the country of Iraqk. This issue is a stain on the reputation of the banking system of Iraq at a time that it can not afford it. The group hopes to bring this case of bank failure to interested financial and legal concerns both in Iraq and outside of Iraq.

This page is by no mean any-ones page but every one's page. We want and need your contributions. If you have any interest in this issue direct or indirect consider this to be your chamber to report from. Visit this page to write what you think, alert others to what you know and learn to help.

https://www.facebook.com/Iraqs-Warka-Bank-Victims-125804980856940/

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PostSubject: Re: Warka Bank - "What is About to be Said" - Sat. PM KTFA Thoughts, News, Chat w/ Frank26 3/18/18   Wed Mar 21, 2018 6:52 pm

Hmmm, Warka won't let me get my MONEY out of their bank, but they will allow me to buy their WARKA stock with the money they won't release to me?  That is just bull crap. 

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PostSubject: Re: Warka Bank - "What is About to be Said" - Sat. PM KTFA Thoughts, News, Chat w/ Frank26 3/18/18   Thu Mar 22, 2018 12:43 am

Ya think Ponee? Wink

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