Investing with Al Warka Bank: Below is a response from Al Warka Bank containing detailed instructions and information on how to open an account for the purposes of investing in the Iraqi Dinar.
Although this document is current as of April 2006, you should send them an email yourself to make sure investment instructions have not changed; this document simply serves as an idea of you may expect.
Thank you for choosing our Al-Warka bank to be your assistance for your financial needs in Iraq, and it give us a great pleasure to deal with you in our bank.
You can open two accounts at Al Warka, one in Iraqi Dinar and the other in US Dollars. For this we need copy of your passport or any official document, specimen of your signature duly attested, full address and small picture.
Please send it by e-mail to the following e-mail box:
(c.accounts[use-@-sign]warkainvestmentbank.com)
Once the account is open you can transfer your funds to our bank through one of our corresponding banks:
Dresdner Bank AG:
Swift Code: DRESDEFF
Jurgen – Ponto – Platz1
D- 60301 Frankfurt/ Main
Federal Republic of Germany
Our A/C No. in US Dollars../ 08-005-734-00-400
Commerz Bank:
Swift Code: COBADEFF
6021 Frankfurt a m main, Germany
Our A/C No. in US Dollars../ 400875402000
For exchanging your funds into Iraqi Dinar we ask you to sent an authorizing letter to our bank signed by yourself, to enable the bank to exchange Dollars to Iraqi Dinars. The form of this authorizing letter is as follows:
“I —————- authorize Al-Warka Investment Bank to draw from my Dollar account ( current or saving ) in the above Bank and exchange the Dollar into Iraqi Dinar according to price fixed by the Central Bank of Iraq at that day, and then deposit it in my Iraqi Dinar account at the said bank”.
Also we must inform you that any drawing from such account should be made by you personally or by written authorization from your goodself, and please be informed that you can not transfer any Iraqi Money out of Iraq because it is not allowed by the regulation of Iraqi Central Bank.
Kindly inform me what kind of accounts do you need (is it current or saving ? ).
Please inform me do you need personal account or for a company (please send copy of company registration papers).
Please be informed that we will credit your deposit saving account an interest rate of 3.5% per year for the dollar account and 6% per year for the Iraqi Dinar account the interest will calculated on the lowest balance of the said month.
Please be informed that the current account have no interest.
Al-Wakra Bank
Below are charges you’ll find at Al Warka Bank:
- Remittance fees 0.125%.
- Open Dollar account ( saving or current ) 2$.
- Open Dinar account ( saving or current ) ID2000.
- Dollar account statement $2.
- Dinar account statement ID 500.
- Dollar saving account bank book $2.
- Dinar saving account bank book ID 2000
- Transfer between Dinar accounts ID 1000.
- Transfer between Dollar accounts $2.
- Purchase Iraqi Dinar 1.5 ID for each Dollar.
- Purchasing Iraqi Dinar the Central Bank of Iraq take 1 ID for each Dollar.
Kindly be informed that, we will draw these charges from your goodself account.
The amount of exchanging Iraqi Dinars against the Dollar is variable depending on the market.
Once you send the information I need, the accounts will be open.
Thank you again for contacting us and if you need any further information, please do not hesitate to contact me.
Warka Bank
IraqiDinar.org is not affiliated with Warka Bank in any way. As with any bank outside the U.S., doing business with Warka is at your own risk, we can not be held liable. We are not recommending Warka, simply posting this information for informational purposes only. FDIC does not insure banks outside of the US.
AFAIK, This bank is BANKRUPT!
I have the same question you had! If you have any info on how to go about it. Please advised.
Brother, It’s companies in the west that have the 10,000 and 25,000 notes.
Even the CWIII and Solider wanted more last week. It’s to bad they haven’t never been outside the U.S. camp in Basra since the English have left no U.S. Solider have I seen. When I made work on the Camp. They Still think there is something to do with 10,000 an 25,000 notes. Can not be those were collected 2008 an 2009. I believe the banks in America or world bank used this as a tool. They hurt the people in secret. Every day the CWIII ask, WHEN IS THE MONEY GOING TO RV….CHANGE ?, he speaks. What is this, I tell him. AL Warka and CBI don’t use this any longer. I felt maybe he needed money, cause the problem in America. So I bring him the new money our new Dinar. The only Dinar since we change from the big money the British and first Troops of Officer Americans Supplied to the Banks in 2003-2005. 1,000-5,000-10,000-25,000 notes. The CWIII still thinks they are good. Some one in America please post here so he can see. The CWIII and Solider never can level the camp to see what I say is true.
The Collection of Dinar has taken place already. The large note no longer exist nor are they legal tender for use public or private, and inter bank transfers. Please don’t send me anymore emails asking questions. This Exchange business is something in Iraq never heard of. Its something you all must work out with who you purchased it from and or your treasury departments. This RV or Exchange or Iraq currency is easy just get them on arrival when you disembark the aircraft at the Al Warka exchange in Baghdad airport. Thank You.
I worked in JBB/Balad in 2010 and set up a savings account in dinar. I had to return home when the contract changed, and couldn’t get on line access authorization before I had to leave Iraq. Please let me know what i need to do to get this authorization. Thank You; Bryan Sisson
I work in Jolan, Iraq. This past week I was in the area, and stopped in to see the staff at the Al Warka bank in Baghdad. I showed them this site via: iphone they had no clue that this site was even on the net. I also visited the branch in Lebanon, Twice. Second time had a meeting with the security director. They know nothing of this and have no subsidiary out of Germany. I opened my account in Two days at the local branch. Was advise to pass on to friends be very observant of such active sites. TY
I have Iraqi dinar and want to open 2 accounts one in dinar and one in us dollars. How do I go about it. Pleaded advise.
I have DINARS already. So how do I go about opening an account with your bank..
I am a US citizen currently residing in Los Angeles California. I’d like to open an e-account in USD & Iraqi dinar. Please advise. Thank you.
hello warka bank .just to let you know that i worked in baghdad iraq.sept. /08/2003 till sept./08/2010. and in this time i open two bank accounts with your company….one account is a dinar account and the other one is a saving account. i need a phone number for wara bank in baghdad iraq .to talk to someone there to talk bussiness about my accounts. i do have my bank account books and numbers to my accounts. and and photo copyies for proof. so can you please email me a phone number or a email address. thank you and god bless to all of you. richard shehane
I’ve been trying to open up a Warka Bank account, but they never answer back…tried 4 times and no response. Can you help? Thanks in advance…
For those which say that AlWarka Bank has been scam i want to tell him that it is fabricated! Warka Bank is one of the best banks in Iraq they are still working normally and all the banks in the world will face problem
hello Sir , Mam
i would like to know how i can get my money from al warka bank in Iraq i would like to know because every time i go there the told me we don’t have money (Bankruptcy)
please if you can help me
I had no problems opening my account. Although I have not deposited any money nor have I received an ATM card from them yet, but I am confident they will. Right now the website is overloaded because the re value of the dinar has started so it will take some time. Please be patient and they will get back to you.
Blessings
Leliu
It has been a week since I submitted the information required t open 2 accounts at your bank and I have received no response, not enen a notice of some type which would at least let me know that you did receive my information. I am still very interested in opening both accounts. One for U.S. Dollar and the other for the Iraqi Dinar.
I would like to know how much in (USD) to open the account.
Plus i’m holding the Iraq Dinar, what is he procedure fo getting this deposited to my account. Look forward to working with you.
Regards
Claude Sinyard
Have been trying to get my account set up sent you the information but it said your server was down and came back to me undelivered
I live in S.E. Asia, and I hold Dinar. I would like to open an account with your bank for IQD and USD. I know I can wire USD, but how can I get my dinar to your bank.
Phuong Ha
Dear sir:
I would like to open an Warka account.I worked in Iraq from 12/2003 until 08/2010 I could not open an account while there.
I also have Iraqi Dinar I know I will need US Dollars to open,I need to know how much .I will wait on future comments….Thank You Mike LaVigne