Warka Bank for Investment & Finance J.S.C

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Wire transfers (Swift):

1-     External Wire Transfers: USD $50

2-     Inward Wire Transfers: 0,003%

Internal transfers (core banking system):

1-     Internal transfers in IQD currency: 0.115

2-     Internal transfers in USD currency : 0.001

3-     Internal transfers in IQD currency to USD currency : 0.115

5-     Internal transfers in USD currency to IQD currencyd provinces: 0.001

Issuance of Check Books:

1-     IQD check books: IQD 5000 per check book

2-     USD check books: USD $5 per check book

Letter of Bank Guarantees:

1-    Bid Bond : 10% collateral plus 0.4% per month

2-     Performance bond: 20% collateral plus 0.4% per month

3-     Advancedpayment Bond: 0.2% per month

Note: Collateral must be commercial real-estate or stocks the minimum price per share IQD 1.

Safety Checks:

1-     0.3% minimum amount IQD 2500

2-     0.3% minimum amount USD $3

Certified Checks:

1-     IQD 5000 – Amounts not exceeding IQD 5000000

2-     IQD 10000 – Amounts exceeding IQD 5000000

3-     USD $5 – Amounts not exceeding USD $5000

4-      0.1% - Amounts exceeding USD $5000

Documentary Letters of Credits:

Commission Fee Details	Percentage	Swift Charges (USD)	Miscellaneous Fees
Issuance	0.75% per 3 months maximum charge USD $85 minimum charge	$75	$20
Amendment	USD $85 0.75% for amending an increase in the period of LC.	$25	As charged by corresponding bank.
Accepting Bill of Lading Documents/ Deferred Payment	0.75% per 3 months maximum charge USD $85 minimum charge	$25	As charged by corresponding bank.
Stamp Charges / Deferred Payment	0.4% per 3 months maximum charge USD $85 minimum charge	$25	As charged by corresponding bank.
Transfer of LC	0.75% per 3 months maximum charge USD $85 minimum charge	$75	$20
Cancellation of LC	On Applicant if beneficiary declines payment.	$25	As charged by corresponding bank.
Reimbursement of Bill of Lading documents	0.15% maximum charge USD $85 minimum charge		As charged by corresponding bank.
Acceptance of Discrepancies	USD $30
DHL courier	USD $50 – USD $75

Cash Collateral for L/C:

     1. unconfirmed and sight 15% deposit
     2. unconfirmed and deferred 25% deposit
     3. confirmed and sight 25% deposit
     4. confirmed and deferred 50% deposit

Credit and loan Facilities:

25% annually short loans in IQD currency (3 months)
25% annually on debited IQD checking accounts (overdraft)
25% annually on debited IQD checking accounts (overdraft)
25% annually short loans in USD currency (3 months)

Interest Paid Annually on Savings Accounts:

IQD savings accounts: 7% per year.
USD savings accounts: 4% per year.

Certificate of Deposits (IQD):

3 months CD: 8.5%.
6 months CD: 9.5%.
1 year CD: 10.5%.

Certificate of Deposits (USD):

6 months CD: 4%.
1 year CD: 5%.

The proportion of commission to issue checks Bills: 0.015%