Warka ATM Card Works In 210 Counties
Officials from the Al Warka Bank in Iraq announced in a press conference in Erbil that a pre paid MasterCard tied to the global network is now available.
Banking with Warka in Iraq allows a foreign account holder to earn up to 6% annual interest with an Iraqi bank account without having to go to Iraq. There is only a $10US minimum to open the account also.
The new MasterCard for offered by Warka is the only one of its kind available anywhere in Iraq. The card is interfaced directly with the SWIFT banking system for easy International payments from any bank that accepts MasterCard payments.
Asking your Warka banker to set you up with one of these cards may be a good idea. Requesting the card to be linked to your Dinar savings account would be even better. These are simple features that would effectively allow you to withdraw your Dinars from a bank machine anywhere in the world. You would get the local currency instead of dinars and the exchange rate would include a new banking fee of about 2% minimum plus other fixed ATM fees for international use.
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Written by Darren Chabluk for http://DrDinar.com
This article may be reproduced online or offline
as long as this box remains and hyperlinked online.
DrDinar helps people with Warka procedures.
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O.k. so….I keep my dinar in my hands….but….I can open a bank account for as little as $10 U.S. in Iraq? I can use my mastercard to get cash…at the current exchange rate…what..when I made my deposit? Or at the current exchange rate THAT DAY? and get 6% interest anually for my account but it is a 2% charge plus additional fees to withdraw my money…because I am not in Iraq….is that correct so far? I am not too quick to let “my babies” go just yet but I might be interested in testing the waters with American $…. and if the exchange rate goes up… and no bank in America is recognizing the dinar… yet…can I depost my dinars and cash out my loot? And at the revalue? Please let me know.
A few more questions for ya… you say 210 countries. Does that include THIS COUNTRY? And if Warka is accepting dinar in THIS COUNTRY…is this the beginning of many banks accepting Iraqi foreign currency and this be the FOUNDATION we have all been longing for to build up to the RV we have been anticipating? If Warka is doing this in the U.S. now….something is brewing and it smells good!
I guess I need not be so quick to push the submit button…How and where do you get a Warka account? Do I have to go to a U.S. military base in another country to find the nearest banking facility? Is this done online and you send your american $ (or whatever others choose to send) through the mail to the account…I am sorry..but curious. How do you open this kind of account? And where? I can gamble $100 american but I am not so quick to let go of my dinar… the time I worried about my dinars getting in the mail, let alone sending them out to venture through the mail…again…I just need more information. Can you possibly answer all these questions?
More info? Which are the countries? And to open this account, how is it possible?
So far, the news today basically states that the budget will be voted on Wednesday OR NOW THURSDAY! They sound worse than we do, at this point! ” We will get a final vote….Sunday…Tuesday next….Wednesday…Wednesday or Thursday>>come on, already! Drink some more Jack Daniels, chill out, and vote on the 2010 budget…I am thinking….BEFORE 2010 IS OVER! And you hear us over here saying ” I see a RV Sunday, Tuesday, Wednesday or Thursday, on this date, by that date….I need a vacation! They push it every single day to the next day or next two days OR TUESDAY NEXT! What happened to it being voted on BY THE 15TH…AT THE LATEST? AND WHAT HAPPENED TO THE ERM? I think I will sign off, go buy ME some Jack Daniels, and try to figure out what they are thinking!!!
I’m lost nothing! So, how I can open a ATM Card?
I agree with Jenn I won’t let my dinar go anywhere.
“On another note there is no RV in January 2010″, American Contractor, January 11th Newsletter.
http://www.americancontractor.com/
Trent> what do you make of the “there is no RV in January 2010″ comment on that American Contractor? Are they saying “not yet” or “not at all?”
I read a lot today…my eyes are bleeding… and it actually looks like they are voting on the budget!!! When that gets wrapped up…we just have to watch and hope that something happens before Feb. 7th. 18 more days of uneasiness!! I am not sure what to say at this point. I am not sure what to look for anymore outside of actually seeing a revalue! I see in articles where they TALK about a RV there…so that is a positive thing..I guess we have to see what pans out with the voting on the 2010 budget. I see where they throw in tidbits of information about WANTING to “raise the iraqi dinar exchange rate by using monetary tools” so I am still positive on this. How do you 5 year dinar holder vets do it? I am 2 months strong and wore out!
Jennofer this is what Darren says:
Warka ‘Rule Breaker’ Becomes ‘Rule Maker’
January 12th, 2010
American Contractor a personal security specialist who blogs right there from Iraq has deadly accuracy when it comes to gathering and broadcasting Iraq investing and Iraq current events intelligence. I’ve chat with him and regularly read his broadcasts for years already.~~~
I think the American Contractor is saying not yet. He actually answered one of our, the wife and myself emails. Someone blogged here that they would trust Darren and American Contractor over Adam M. I bought Adam’s book, there is good information in it. But his predictions seem pretty out there. He seems to elevate people to a height and then……..nothing. My wifes brother who led us to this dinar ordeal said he does this. He and his friends have heard about A.M. for a couple of years now. Notice he will not answer questions about the Jan. 14th ERM that his team basiscally said has already happened.
So with that said make your own evaluations about these blogs.
I do appreciate your determination in digging through the Iraq news mess and giving us something worth while.
So thank you. Keep us informed please!!
Trent> I appreciate the confidence you have in my blogs…I truely try to get the straight forward facts on all of this and skip the small stuff.
As you all can see from my earlier post, I was at a loss as to what was going on. The budget is so close and it is progressing..at a snails pace..but getting there. It was driving me crazy with all the news and not having a clear understanding of it so the person I spoke of in the past weeks that got my husband and I into this cleared some things up for us tonight on the phone…
The ERM that was suppose to go into effect on the 12th… it didn’t happen then because the “budget” made it past a certain level in it’s passing. But there (ARE PAST ARTICLES somewhere ? ) that state that the ERM will go into effect by the 31st of January. My contact (and dear friend) confirmed this to us and I totally TRUST what she says. I remember reading something to that effect. Something along the lines of ” but no later than 31/1″ and why that sticks in my mind… I don’t know. I keep harping “the budget” “the budget” and that is how it is summed up. I found out tonight that Iraq has had ALL their debts to other countries wiped clean and the only thing holding Iraq from getting out of chapter7 bankruptcy is the troops and the costs of it. And they are getting out soon. I also found out that when this RVS..it will be a “tradeable currency” and places like Wells Fargo, Chase bank, Bank of America….they will recognize the dinar. My “friend” really believes that this is going to happen “by the 31st” and that it is going to come in at $3 or better. Listening to her talk just boosts my spirits and I want to let everybody know!!!!!!!!!! She is a great person and very in tune to everything that is going on over there. This budget is in the way though.
Why does she think the budget will be resolved by the 31st? I don’t understand why this would happen.
She has been in this for years. Like I said in the past…when everybody was screaming RV, RV,…she was sitting back and saying”not yet, not yet” because things had to be in line and sanctions lifted in areas, and growth in their economy, and many, many other things that has been talked about within their rules of succeeding there. She knows what has been asked of them, what sanctions have gone away, what they are voting on in the budget, and when somthing is put in the paper…she knows EXACTLY what they are saying and if it is good or bad.
Do I understand? Nope! but She has my undivided attention when she is trying to explain it to me. She said that they will wait until the very last second to vote on that budget and she has seen it many times. I don’t know when the budget will be voted on but I see in papers that they are saying that the iraqi people are suffering because it isn’t passed and I see that almost everyday. If I find out any more i will let you all know. Just keep watching for the budget to be passed.
Everyone’s situation is different regarding warka accounts. And this blog is not the proper venue for a 1 on 1 assistance. If you are serious about getting an ATM card at Warka or any other personal investing situation please submit your official help request to http://DrDinar.com/helpdesk/newticket.php
I look forward to reading the entire blog thread when during the weekend. I’m in the back of a commercial truck right now and just finished doing official support responses which is at the top of the list for online activities while away from my office.
Lots going on. Thanks for posting!
Darren….Appreciate the intel on the Warka acct. I think I am going to keep my investment on U.S. soil…>>>but thank you anyway for the info.
I am sure it is an option, and a good one, for some but not an option I am going to pursue at this point. Thank you though. I am putting my investment on “banking” that when this revalues, banks in the US will recognize them as tradable currency. If we hit a wall on that, I will pursue my option further, at that point.
Darren what are your thoughts about the budget and current events in Iraq? I found this on the 2010 budget from aknews.
http://www.aknews.com/en/aknews/2/105627/
http://www.aknews.com/en/aknews/2/105975/?AKmobile=true
Jennofer AKnews says the budget is resolved. The next AKnews item says there won’t be a vote on the budget anytime soon. What is your contacts opinion on this?
When is the next phone call? I missed several by not getting the info early enough, so I want to get it scheduled.
Thanks:
Jim
Hey! What phone call? How does that work?
Trent> I don’t talk to her everyday. She is a very busy person and I have to twist my husbands arm to get him to call her. She told us last night, she sees something happening between the 22nd and the 31st. She mentioned the sanctions being lifted and….basically… Iraq is up to speed with all their goals and they have went from a “war stricken country” to a “highly functioning country” that is progressing at an excellent pace, far better than what anyone ever gave them credit for and stop and think about it. It has taken them 5 years to get to where they are now! People have waited 5 YEARS and watched them grow to this point and saw oil deals, and sanctions being lifted that prevented them from moving forward, and debts being forgotten, and stock exchange, and now talks of them raising the value of the dinar. People say these things take time….that is right…. 5 years+ long enough, you think? 6 years? This has been building for a long time and they are moving forward. The chapter 7 is the big bugaboo for them now…not any sanctions holding them back anymore. They are moving forward and outside of their unemployment rate, the only thing they can do now to move forward is………raise the value of their currency…….
Jennofer, that sounds great. Let me know if you need any more dinar banknotes or would like to become a dealer or sell some.
My response about the Warka is due to the very serious questions about getting a Warka card.
I like to get involved in the blog and facebook which I do, but technical step by steps, that is what the support desk is for. Each person is at a different stage and helping one person, in the blog, step by step, will confuse 100 others. I hope you understand what I am saying.
Well, so far today…it is quiet. It is their Saturday over there so I am not surprised. I did read a small article in…
http://articlesofinterest-kelleyblogspot.com
and it stated that the basic holdup on the budget is they want an electoral law put in place before any signing of the budget. What that means…I don’t know. The electoral law goes into effect on Feb. 7th anyway and if that happens before an RV..nothing can change with an RV until after the elections. That is my understanding. I am not sure if THAT is what they are looking for…or they are looking into another LAW to keep the people running from using the budget for their elections. Reguardless, it definately looks like an ugly snag to me. I didn’t ask my friend the other night if holding up the voting on the budget would effect what she sees happening so I think this is one we have to hold out on and see what happens. I do see where the GCC is VERY INTERESTED in Iraq! I understand that this is a very good thing, although I don’t know how they play out in the progress of a RV. I know that Iraq has a loan that they have to start paying back and the stipulations on that loan (at 5 billion) was that they needed “tradable currency” and then the loan went to 7 billion and nobody knows, that I know, what the stipulations on the 7 billion is. I am assuming that they still had to have “tradable currency” for that loan and that (the only realistic way to pay that back was to revalue their currency>>>by speculation.) I have seen articles stating that Iraq is looking to revalue their currency but it “looks to me” like the budget and the elections are going to be our big snag in this and we can only hope that this “exchange rate mechanism” goes into effect no later than the 31st. (like it stated in the article.) Do any of you have that article, by chance? I remember it stating “in the absence of the voting on the budget, they were going to exchange rate mechanism ESPECIALLY on the 12th…and so on… but at the end…it said “BUT NO LATER THAN THE 31ST.” Does anyone have that article? Just curious if I saw somthing that was not there. That seems to be our only hope with them arguing over the budget and the elections. I want to call my friend up, but she probably has 50 others that DO call her for answers and I just don’t want to annoy her. A nice up to date..what is going on blog would be real nice right now Darren.
I went back and read more…. the law that is holding up the elections is called “the electoral BEHAVIOR draft law” not the electoral law that goes into effect the 7th of Feb. In the article that is at
http://articlesofinterest-kelleyblogspot.com
it states that the budget will be voted on next week and that they want this “electoral behavior draft law” in place before they finalize the 2010 budget. I feel better…..I thought they wanted the electoral law that goes into effect on the 7th to be active before the budget got passed. They just want to know that the 2010 budget will not be misused for the elections and they are pushing for this “electoral behavior draft law.” Now, I can go take a nap!
I am sorry…very tired. That law isn’t holding up the elections… it is holding up the voting on the 2010 budget. My typo from my previous post.
An up to date what is going on blog. Well, this is a start!
I wish I was able to dedicate a full time research person to the blog but this is something we need to wait for. It takes money. I have a trucking company I must run, but, if you can give me some ideas on what kind of ‘up to date’ details you are looking for it can give me an idea.
Are there other blogs that have up to date details that you look for jennofer?
Darren> I read a lot of my articles from
http://articlesofinterest-kelleyblogspot.com
and a friend has a forum that I read daily.
What I am wondering is > THERE WAS AN ARTICLE POSTED ON 5/1/2010. http://al-iraqnews.net
It stated this…
The cabinet approved the continuation of ministries implementing the investment projects being waged on the drainage projects.
He said government spokesman Ali Al-Dabbbagh told state reporter
( news agency, Iraqi Information/ conscious) THE APPROVAL OF THE EXCHANGE RATE IS WITHIN THE PERIOD BEGINNING 31/1/2010 AT THE EXPENSE OF THE 2009 BUDGET because of unforeseen and extraordinary Dharov that record spending on investment projects New Goodbye, and the decision of the ministry of finance to implement the foregoing.
Now is that the same exchange rate we are looking for…on the 31st?
I saw another article that “pretty much” said the same thing. But in that one, it stated it was to become LAW on the 12th. Are they talking about an exchange rate ONLY for their drainage projects? It gets confusing the way they do their wording.
I have “heard” that the 2010 budget plays a BIG role in what we are going to see real soon. Can you speculate what you think and what you see with all the news happening lately?
For the record, I understand you are a busy man…I am married to a man that works ALL THE TIME, as well, and I do know that you only have so many hours in a day. I only asked you for your opinion due to the fact that you said you would be catching up, so to speak, and I thought maybe we could get “your” opinion on what has been happening and “your” thoughts on what you may see in the near future. Quite a few people on here depend on that at this point in the game and some of us are very new to this and want to hear from as many people as possible that has been in this for a long time, like yourself, because you understand so much more than we do. We are prisoners of hope and we thrive on reassurance.
Jennofer I was wondering if you have read the American Contractors latest newsletter? On Aswat al-Iraq our v.p. said that the 511 banned ex-baath party memebers should be allowed on the ballot (do not know what positions or posts) if they disavow and condemn the party. Was wondering what bearing this had on the whole process. Thanks again for your posts.
Trent> what I am reading on
http://articlesofinterestkelleyblogspot
is that our vice president is saying that U.S. is not involving themselves in (that fight) so to speak and our v.p. is there to talk about the chapter7 issue, MOVING THE ELECTIONS ALONG AS PLANNNED, and sticking to the dates that our troops will leave. Our V.P. made the suggestion to postpone the 511 going to court in their defense until after the elections…but the deciding factor on that is within Iraq and their ways of doing things. The 511 people on the black book have been linked to Sadaam >that is my understanding. It has to go through their court system and U.S. doesn’t want involved.
I was just in this site above…lots of good stuff today. I am curious about the one article ” feds to end currency swaps with other central banks” though. Not sure if that has to do with lending, or currency exchange between countries. > Little worried about that one. I know that many things are going on right now like the GCC being very interested in Iraq, and them pushing for the vote on the budget, with their ELECTORAL BEHAVIOR DRAFT LAW being the only snag at this point, but I, personally, have not read anything pointing to our VP saying anything along the lines of letting these 511 on the ballot. Not that it isn’t out there…I just haven’t read that in the site, above, that I read.
From what I read they should be out of Chap7 next month.But what they SHOULD do never really happens does it.
Them being in chapter 7 has nothing to do with a revalue> to my understanding. It just gives everyone a further understanding of how well Iraq has come along in the post war rebuilding. Just looks good on them. And they are hard to figure out, aren’t they? 50 million brains over here never know the next move that one brain will decide over there.
BAGHDAD / Aswat al-Iraq: Iraqi Parliament Speaker Iyad al-Samarraie on Saturday expressed his rejection of a U.S. proposal to allow those barred by the Accountability and Justice Commission to run in the upcoming election.
Personally I don’t care one way or the other, the problem was that everyone on the banned list had 72 hours to appeal. Possible 511 appeals and only ten days to go? This looked like a road block to getting things together before the 31st when the parliment session runs out of time.
What happens between the end of the parliment session and election day on the 7th? Is there really any reason for and RV or ERM to happen?
Is the big loan payment they have to make the only reason? Jennofer you stated earlier that the CH7 was their big bugaboo now. So apparently thats not your thinking now?
I’m just trying to figure out if we need to just give up on this until the end of year or what.
Joe what do you think?
Trent> never give up. I have seen a rollercoaster ride in this investmant like no other. But it is a ride we chose to be on and we have to take the good with the bad. Their politics and their election has nothing to do with a revalue. And….I found out today that the elections going on will not prevent an RV. They can RV right in the middle of the elections if they want…it is not a law and it has nothing to do with the 7th deadline of the electoral law. To my understanding…we are waiting on the budget to be voted in. And they have until the 5th of February deadline to do so. I talked to my friend today and she corrected me on these things. That article about the ” feds to end currency swaps with other central banks” has nothing to do with what we are doing in our investment. I asked her if a 48 hour window was enough time to get an RV if they finalized the budget on the 5th and she said it didn’t matter because the elections will not stop a RV at anytime. The chapter 7 is a negative…but has nothing to do with a RV. This loan they got…..just pinpoints a possibility of a RV because TO MY UNDERSTANDING >and speculation< they need a RV to make it possible to pay that back and that seems to be the logical thing to do with the stipulations of the loan…along with them stipulating that they want "tradable currency." So to sum it up…there is hope!
This is an interesting read. Comments please?
ENORRSTE POST – Dinar Vets 1/23/10 @ 8:18am
http://dinardaddystidbits.blogspot.com/
What are you curious about…the chat…which I wouldn’t bet eating a pig because I am on the outside looking in and “hearing” we are going to have a RV..WOULDN’T BET EATING A PIG THOUGH. Sounds good if it is cooked, I guess> he didn’t “specify cooked or raw!” I like his confidence in a RV…HOPE HE DOESN’T HAVE TO EAT THE POOR PIGGY! I feel it is going to RV. All jokes aside. I feel it. Don’t know why…just do.
Or, are you talking about the article below it?
I am talking about some of these smug, maybe even arrogent postings, to be specific the one I linked, Enorrste, and of course many others. With that said the guy talks like he has it all sorted out. Who are these people? On Big Daddy Dinar they all talk like they have inside connections. I’m sure they do…..
I will be writing a ‘bigginers article’ describing what everyone here is referring to ‘Chapter 7′ later this week.
My thoughts are I waited this long whats a little longer.I would like to say I beleive all of the BS that goes around but it’s all BS that most all them just keep makeing up so they keep traffic comeing to there sites.They are always saying Monday or this weekend we are on the watch for the Rv.I just keep my eye on CBI, thats the facts.F#$% the rest of BS.The rest is for a good laugh most days.
Nobody has “inside connections!” Even the iraqis don’t know what the heck is going on! You think if they had even a “hint” of a rv, your average joe over there would keep quiet? And it is FLAT OUT AGAINST THE LAW for any of them bankers over there to “leak” information. (some sort of confidentiality law they have there.) My friend told me ALL ABOUT IT…and she said if anybody says they talk to ANYONE from them banks…overlook it and pay NO attention. And this guy from JPMorgan. Who does he think he is commenting on what is gonna happen? He probably never even saw a dinar, let alone know anything about it in the first place to make such a negative comment like that. He hasn’t followed it for 5 and 6 years like a lot of people have. And if anybody wants out now….you CAN sell them back,unlike this guys negative comment.
Don’t listen to your expert friends living paycheck to paycheck telling you that a reval is lock and load for $3 on the 31st of Jan, then Feb, then March,…. I’ve been watching this RV of the month for 5 years. I don’t want to take away hope but if you listen to these people you will become ‘hopeless’ and sell your dinar pretty quickly.
Joe, you have some merit to what you are saying. We must know what parts of the puzzle are valid and how they all fit together as events converge on our goal. I just paid over $3000 for a market research training system which everyone will benefit from for nothing. The more information we have at our finger tips the better. Info not put forth by the pumpers PUMPER! Had to say that : )
Trent> I actually went to where you were talking about….sorry…just read a glimpz earlier. A lot of it sounds like what I have been hearing from the beginning, but never could put it into words. Lack of understanding…as we are all learning..and I apologize. This IS going to happen for us….I know it! and they get the ball rolling…and occasionally, someone puts their foot in front of it to stop it, periodically, but then it starts to roll again. It is going to get there and we all have to have that faith. My friend warned me of blogs…she said it would discourage me and to stay away from them. Take…ME…for instance. I try to give you information that I have “heard” and I am no better than the next blogger. I mean well….but it is given to you “in my words” and half the time, I have no clue what I am repeating! But I try!I have to say…you are on to something with your find. My “friend” she says the same things this guy was trying to get through to these people and, eventually, this is going to happen. I believe that. Even with dates and rates coming and going “by speculation.” Me, I take a “i’ll believe it when I see it” approach and I will never get let down that way. Play the blog and take it for what it is worth.
Jenn you do a great job.Keep it up.
Thank you Joe. Just wanted to make it clear that I am probably one of the newest investors in here and I am “clueless” on what has, is, and might happen. I have never denied my lack of knowledge and I don’t come in here for any other reason than to share what I have read and “heard”>>>which we all know is “speculation” and I just happen to be one of those people that is a PUMPER for ALL THE RIGHT REASONS. I like to encourage this process…….not get you to go buy in to more of this. I am starting to get these vibes that some negative is being thrown my way because of how I insist on being positive on this. I am new to this…I am positive on the matter….I feel sorry for the 5 and 6 year investors!
Thank you to all here for your honest and humble input. The encouragement backed by facts and honest intentions is good to have. Apparently I should stay away from some of these cheesy blog sites. People write stuff like they have connections on the inside. Jennofer thanks for clarifying that it is illegal for any of those people in Iraq to leak that information. Joe good point, a person needs to sift through the b.s. and keep their head on straight. My wife bought dinar in June 09 and then I got onboard about Aug/Sept. 09. So thats my duration. I don’t have a college degree in finance and investment so her I have to sort it out with some help from you folks. Darren I appreciate your input as well and look forward to your next statement. Thanks again!!!
Well put Trent! My husband was approached with this opportunity last summer and we turned our heads to it. When we were approached in November…AGAIN.. about it, we decided to listen. We didn’t quite realize what we were getting in to and he refuses to live on the computer and watch this like a hawk like I do. He ONLY listens to our friend…and she hasn’t steered us wrong! She is honest with us and she tells us flat out how it is…if it doesn’t look good..then that is how it is. If something looks promising…she lets us know. She knows the laws and what they mean and we trust her. I am a curious person…so I like to see what others are doing.
Interesting oil news:
http://finance.yahoo.com/family-home/article/108651/the-worlds-biggest-oil-reserves
Hello Jennofer thanks for your comments. With regards to holding onto to your hard currency as opposed to opening up an account with Warka, why can’t you do both? Hedge your bets so to speak.
I glanced at the Warka thing, but hubbby says no way. Asked a lot of questions…but never got any answers so I moved on.
Jennofer-I opened my account fairly easy. A USD and an IQD savings account, the key is making sure you e-mail to the right person.