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Islamic banking is growing among the segments of society
15/4/2018 12:00 am [rtl]It operates in 75 countries Baghdad / Sabah Islamic banking has made significant progress in terms of growth in the number of institutions, customers and assets since its inception in the late 1960s. The Islamic financial and banking industry is one of the fastest growing banking sectors, with growth exceeding the growth rate of the traditional banking sector. Improving service quality and innovating new products to reach a wider customer base. A qualitative leap specialist financial affairs in Ehsan Sadiq Al Shammari said that Islamic banks have become a fundamental role in achieving social development and make a quantum leap in the world of banking and stimulate economies and revitalization according to Islamic Sharia controls. He added that the number of institutions providing Islamic services in the world increased from about 955 in 2013 to 1,113 at the end of 2014, operating in 75 countries. According to Thomson Reuters, it divides all Islamic institutions and traditional institutions offering Islamic financial services through specialized windows. Banking customers and the Shammari said, according to the Global Competitiveness Report of the Islamic banks for the year 2016 boat number of Islamic banks and customers around the world 100 million customers yet still 75.12% of the potential Islamic finance clients an untapped base, and is still the sector has a large capacity can accommodate more dealers . Small projects and pointed out that the elements of attracting Islamic banking that its relationship with deposits owners are not based on the creditor and the debtor , but the relationship emphasizes risk - sharing in the profits and losses, and the Islamic banks aimed at granting Islamic services to owners of small and medium - sized enterprises and micro which find it difficult to obtain funding Because they do not have the guarantees required by conventional banks and institutions. The financial system and warned Shammari that increase and expand the role of Islamic finance has enormous potential to promote financial inclusion and constitute the Islamic banks the most important part , and the largest of the Islamic financial system, where the assets of these banks amounted to approximately 1,346 billion dollars in 2014 , followed by Islamic bonds (or instruments) , which amounted to 295 ($ 33 billion), according to a report by a specialized institution. The world 's economies and noted that after repeated financial crises that hit most of the world 's economies, investors began to look for solutions and products mechanisms of non - traditional to invest their money and their wealth and their finances, and helped in the economic boom in some Muslim countries recently, especially after the rise in oil prices and this Making it a trend to innovate and offer new and alternative Islamic financial products to traditional products that have attracted many investors from all categories. He stressed that the Islamic banking in Iraq is waiting for an investment environment through reconstruction and development, but should be interested in training its staff to be able to provide products that fit the Iraqi environment and can improve its services as long as the competition is severe between them and products provided by commercial banks. Adaptation efforts Al-Shammari said that in most countries where the banking system is double (ie, conventional and Islamic banking), it is subject to the same rules and regulations that it deals with commercial or conventional banks because of the lack of understanding or lack of proper understanding of the central banks of Islamic banking activity Difficulty in fixing the error or real irregularities , which requires adapting the efforts of the Central Bank to develop banks' tanks, especially in the field of training to prepare these staffs to be able to manage the Islamic banking business and innovate new products [/rtl] [rtl][You must be registered and logged in to see this link.] [/rtl] |
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