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Secrets Of The Disappearance Of Billions Of Money (Depositors) In The Warka Bank?! 

Written by: Basil Abbas Khudair

The event is in Iraq, yes, inside our country and not in other countries.

The story is real and not inspired by Bollywood movies.

The details are that thousands of Iraqi citizens, individuals and companies, deposited their money in a well-known private bank that is officially licensed by the Central Bank of Iraq and has several branches in the provinces and abroad.

Iraq, which is the Al-Warka Bank, and their deposits in current and savings accounts in Iraqi dinars or US dollars, some of which represent all that they own in the millions or times that in the tens and hundreds, and during the period of their dealings with this bank, which lasted for years,

they did not face any problems in withdrawing or depositing or with regard to completing All credit transactions, overnight, especially in 2010, the bank branches stopped accepting withdrawal requests and said that they were facing some simple matters that would be completed within days.

This was without prior notice so that some depositors could withdraw the amounts they needed to put them on hand or to meet urgent requirements.

Because they are business owners and families and have obligations towards running their businesses, supporting their families, treating their patients, or other matters, and from that date until today the situation has not changed, as the situation remains as it is, and the depositors’ funds were not allowed to be withdrawn, and nothing changed except the duration of the justifications and excuses, as the excuses were speaking.

For a day or days for a solution, then it turned from a year to a year, so that 14 years had passed since this situation, and the depositors did not leave a door without knocking on it to return their money and nothing else.

Some of them resorted to grievance with the Central Bank,

some resorted to the judiciary by filing lawsuits to recover the money, and others sought help from some executive and legislative officials from Various names and positions in order to lift the injustice against them, and

others took to demonstrating and sit-in in front of the gate of the Central Bank, the administration building of the Warka Bank, and even the headquarters of the Council of Ministers to make their voices heard about the injustice that befell them and their disappeared money, and

their request was circulated in various media outlets,

but it is truly strange and unfortunate that The issue has remained unresolved for 14 years, which has made some wonder about the reasons for remaining silent about this not-so-hidden issue.

Is it reasonable for billions of funds to remain unaccounted for in a country with official authorities?

What is the secret of the power maintained by the Warka Bank, such that it remains protected without accountability for its management, cancellation of its license, liquidation, or other procedures that are subject to the logic of right and justice in the state of institutions?

How can the person responsible for the matter or the concerned party accept withholding people’s money for reasons related to the bank and not for a matter related to the depositors over these years? And if the state agencies or any party, including the bank in question, were a creditor to one of the depositors, would they accept not paying their due money for 14 years?

The questions, astonishment, and exclamation marks are many and in the hundreds, but they have not found a solution or an answer.

What matters to the depositors is at least the return of their money, even though they deserve compensation for the opportunities they lost and the harm they suffered that requires compensation for the inflation that occurred over those years.

The 14 years that have passed since the depositors cannot be described in lines or pages or even in parts of books and stories.

The heartbreak, the soul, and your money deposited in a bank that does not give you a date or find a solution for you cannot be described.

It is a heartbreak that is not emotional, but rather associated with hundreds of tragedies, sorrows, and incidents that…

I faced the depositors in its actual and real form.

A number of depositors died (they or the people closest to them died) because they did not have the cash for treatment and their money was deposited in Warka and

the bank did not allow them to withdraw or transfer all or some of it to cover the treatment expenses, and

some of the stakeholders and businesses were subjected to legal prosecution and judgments.

Because they did not pay their obligations, because their money is in Al-Warka, and

whoever issued judgments against them did not consider Al-Warka’s denial of the right of withdrawal an excuse for easing and allowing, and

some who had a dream of buying or building a house to shelter themselves and their family, their dreams evaporated and turned into nightmares after they deposited their money to collect the dinar upon the dinar. Of his strength and permissibility, but all that he had saved disappeared in Warka, and

what he had hoped for was no longer achievable after purchase and construction prices doubled.

Whoever sold his house for 100 million and deposited his money in Warka in 2010 to replace his residence, today he can no longer build less than his previous home due to the inflation that occurred.

In prices, and whoever intended to get married and saved money for his wedding and his wedding in Warka is no longer able to marry after he has reached the age of 14, and

it is not strange to find in the gatherings held by (victims of Warka) to demand their rights, young people from those present come on behalf of us and say that we are the son or grandson of the deceased.

The depositor is so-and-so who died years ago.

The children have grown up and the hopes of some of the depositors have turned from happy dreams of housing or investment to a wish to obtain land to be buried in, after those hopes have dissipated and their purchasing value has decreased greatly. It is 14 years.

Dear gentlemen and ladies, officials everywhere who They have something to do with resolving the issue and paying attention to it or adopting it from near or far. During these years, governments and parliaments changed, and you did not find a solution to return the money of the people, who are your brothers in the homeland and in citizenship, and

we did not hear anyone with an official mandate in the three authorities asking (the Warka administration) where the depositors’ money went.?

Aren’t they deposits that must be guaranteed and matched by assets and under the control and supervision of the Central Bank? Whether it was lost, escaped, stolen, or wasted,

these are all questions and questions that depositors have the right to ask,

but the integrity, financial oversight and other regulatory authorities have not answered them so that they can be announced to the public and inform depositors.

Is it just, fair, and reasonable to accept a situation in which people deposit their money in a bank established in accordance with Sharia law? Legal and their deposits remain unknown throughout these years and the bank is 100% Iraqi?

Despite all that we have mentioned, the depositors and (their heirs) are still waiting for hope.

Even their demonstrations no longer find an answer that heals the wounds. All they receive are futile promises whose solutions go by for years.

In light of what is stated in these lines in brief, because it is a topic that concerns thousands of Iraqis and is not personal, the question that has been going on for 14 years remains:

What are the secrets of the disappearance of billions of depositors’ money over these years?

Who is the culprit or negligent, and Warka is not unknown, but rather exists, and

its main headquarters is known in the center of Baghdad in the city of Al-Mansour.

On December 2, 2023, he obtained the approval of the Registrar of Companies to increase his funds to 250 billion dinars, and

he says that he is awaiting the approval of the Central Bank of Iraq to resume his activity again? !

The owners of the case hope for those concerned about the matter to find an urgent solution to it without delay, as prolonging the matter increases the harm and increases the tragedies for people, and delaying its solution is unacceptable according to Sharia, custom, or law.

We implore you to God to save their conditions and their souls, as most of them have turned from well-off to “insolvent,” and some call them “poor.”

The feeling prevails among some of them that they have been transformed from right-holders into citizens (begging) for solutions, and there is hope in God, and there is also reliance on honorable people and people of conscience to restore rights after years of patience coupled with injustice!! .أسرار-اختفاء-المليارات-من-أموال-المودعين-في-مصرف-الوركاء


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Adversity has ever been considered as the state in which a man most easily becomes acquainted with himself, being free from flatterers.  – Samuel Johnson

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In the depth of winter, I finally learned that there was in me an invincible summer.  – Albert Camus

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