How to invest in the Iraqi Stock Exchange
As investors in the Dinar know, there are three main ways to invest in the future of Iraq: The ISX (Iraqi Stock Exchange), paper currency (The New Iraqi Dinar, or NID), and a savings account at an Iraqi bank such as Warka. This page will serve as a quick start guide to getting in the ISX (Iraqi Stock Exchange). It is advisable and convenient to already have a Warka Savings account open in order to facilitate this investment avenue.
Ready? Good! Follow the steps and you’ll soon be holding stock that could easily make you rich. This guide is for United States citizens. The steps are similar for citizens of other countries, the main difference will be the process to certify the documents.
- Download this file: Legal Declaration for ISX Form
- edit the highlighted fields
- print it out
- get it notarized (you will need to do this in front of a notary with your passporte and ID present.)
Send the following items to the Arab American Chamber of Commerce:
- Your notarized Legal Declaration for ISX Form
- A copy of your ID and Passport
- A prepaid return envelope (Use FedEx for tracking purposes)
- A money order for either $103 (personal investing) or $258 (business investing).
The address is:
Arab American Chamber of Commerce
972 Mt. Holly Dr. Annapolis MD 21401.
Tel: (410) 757-5544 or 1 888 999 5991
(In case you were wondering, here is what the money order is for:
- AACC Service fee is $80.00 to certify any legal document ($35.00 charge for each additional document).
- Notary public and court fee = $5.00
- Secretary of State fee = $5.00
- Department of State fee = $8.00
- Embassy of Iraq fee = $5.00 ($160.00 for business)
You can find more information at the Embassy of Iraq:
Embassy of Iraq
1801 P Street, NW
Washington, DC 20036
Tel: (202) 483-7500
Embassy hours: Monday-Friday 9:30 AM – 5 PM
Once you’ve received your papers back from the Arab American Chamber of Commerce, send them to Warka Bank (keep a copy for yourself). Be sure to use FedEx, my first attempt got lost in the mail and I had to spend another $103 to get certified docs again. I sure wish I’d used FedEx! Send them, along with your email address or contact info, to:
Warka Bank for Investment and Finance
Main Branch – Baghdad Iraq
International Foreign Relations Department
Watheq Square – Salman Faiq St.
Hay Alwihda – Sec. 902 – 14th St.
Stay tuned for an update detailing how to buy stocks, sell stocks, and pick stocks on the Iraqi Stock Exchange.
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