To the esteemed and distinguished Warka clients
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Thread: To the esteemed and distinguished Warka clients


    
  1. #1

    To the esteemed and distinguished Warka clients

    To our esteemed and distinguished Warka clients,

    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funds from their account to purchase the stock indicating your account number, signature, the funds in IQD to be withdrawn from your account as well as a clear colored copy of your id and passport.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

    Article Credit: warka-bank.com (Special Thanks to Alan Wright)



  2. #2

    Re: To the esteemed and distinguished Warka clients

    BGG ~ OH DEAR LORD!!


    I get it that they've changed (ownership / management), they're all different now and under the direct oversight of the CBI (which might even bother me a little more)...


    BUT HOLY COW!! These guys are really something...


    "Here's a letter authorizing us to withdraw the money from your account"... (because it's somehow - legally O.K.)


    and put it in ours... "sign right here please... press hard there are three copies"

  3. #3

    Re: To the esteemed and distinguished Warka clients

    BGG ~ What if...


    They know what's on the horizon? They bring in all this IQD (for essentially - FREE)... IQD value goes up and they just sold millions upon millions of shares of a Bank that is essentially worthless for $1 per share. Sounds like the greatest financial coup in history.


    Would the value of the IQD going up make the bank more valuable?


    No... but if Warka pulls this off they will be sitting on a GIGANTIC PILE OF MONEY.


    Why else would you sell a share of your (albeit $h!tty) bank for FRACTIONS of a cent?? You would be GIVING IT AWAY...


    Unless, of course, you intend to buy the incoming money at one price and sell it at another.

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