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The Central Bank launches the Islamic Finance Program

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The Central Bank launches the Islamic Finance Program Empty The Central Bank launches the Islamic Finance Program

Post by rocky on Mon 20 May 2019, 2:23 pm

[size=36]The Central Bank launches the Islamic Finance Program[/size]

Economy | 01:44 - 20/05/2019

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BAGHDAD - 
The Central Bank of Iraq ( CBE) announced on Monday the launch of a syndicated Islamic finance program to create a regular partnership in the financing and investment process. 
"The Islamic Finance Program (SIFP), which aims to create a regular partnership in the financing and investment process, has been launched between traditional and Islamic banks on the one hand and the public and private sectors on the other," the bank said in a statement received by Mawazine News. This investment is carried out under the umbrella of Standard No. 24 issued by the AAOIFI. 
He added that "the program pays the conventional and Islamic banks to participate in the financing of projects of national importance in accordance with contracts in accordance with Islamic law, such as participation contracts ended Bittmleek and Istisnaa and Istisnaa parallel contracts and Ijarah Muntahia Bittamleek contracts.
The statement pointed out that "the bank formed a committee headed by the Governor of the Central Bank of Iraq Ali Mohsen Ismail and the membership of the National Investment Commission as a strategic partner in the program (SIFP) and government banks and the Association of private banks and ministries and stakeholders." 
He explained that "the committee recommended the implementation of three projects to start the implementation of the program and projects are (the project of rehabilitation and construction and development of chemical fertilizer plants in Baiji and Abi Khasib, and the rehabilitation and development of glass plants in Ramadi, and the rehabilitation and operation of the white cement factory in the district of Fallujah. 
The statement added that "this program comes as a step complementary to the success achieved by the Central Bank in achieving monetary stability during the war economy and its transition to the Iraqi economy to the runways of the economy of peace, making the process of targeting growth is a very urgent step."
It is worth mentioning that the complex Islamic finance program is the fastest and most advanced method of dealing with the problem of economic development where the financial sector works with the real sector directly without the need for a mediator.


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The Central Bank launches the Islamic Finance Program Empty The Central Bank launches the Islamic Finance Program

Post by rocky on Mon 20 May 2019, 2:51 pm

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The Central Bank launches the Islamic Finance Program

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[rtl]Release date: 2019/5/20 15:50 • 186 times read[/rtl]
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The Central Bank of Iraq announced on Monday the launch of the Islamic finance program complex, while stressing that the project aims to create a regular partnership in the process of financing and investment.
"The program aims at creating a regular partnership in the financing and investment process between traditional and Islamic banks on the one hand and the public and private sectors on the other. This investment is carried out under the umbrella of Standard 24 of the Accounting Authority And Review of Islamic Financial Institutions {AAOIFI} ". 
"The program will encourage conventional and Islamic banks to participate in the financing of projects of national importance in accordance with Islamic Sharia'a compliant contracts such as Musharaka Bittamleek contracts, Istisna'a and Istisna'a contracts and Ijarah Muntahia Bittamleek contracts," the bank said.
The bank pointed out that "the formation of a committee of competent authorities, which recommended the implementation of three projects to start the implementation of the program," explaining that "the projects are the rehabilitation and construction and development of chemical fertilizer plants in Baiji and Abi Khasib, and the rehabilitation and development of glass plants in Ramadi, Rehabilitation and operation of the white cement plant in the district of Fallujah. " 
He pointed out that "the program Bati as a step complementary to the success achieved by the Central Bank in achieving monetary stability during the war economy and its transition to the Iraqi economy to the runways of the economy of peace, making the process of targeting growth is a very urgent step. 
The complex Islamic finance program is the fastest and most advanced method of dealing with the problem of economic development where the financial sector works with the real sector directly without the need for a mediator.


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The Central Bank launches the Islamic Finance Program Empty The Central Bank launches the Islamic Finance Program

Post by rocky on Mon 20 May 2019, 3:06 pm

The Central Bank launches the Islamic Finance Program

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The Central Bank of Iraq (CBK) launched on Monday the Islamic Finance Program (SIFP), which aims to create a regular partnership in the financing and investment process between conventional and Islamic banks on the one hand and the public and private sectors on the other hand. Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
"The program is pushing conventional and Islamic banks to participate in the financing of projects of national importance in accordance with Islamic Sharia-compliant contracts such as Musharaka, Bittaheel Bittamleek contracts, Istisna'a and Istisna'a contracts and Ijarah Muntahia Bittamleek contracts," the central bank said in a statement received by Al-Iktissad News.
"In the framework of activating this program, the bank formed a committee headed by HE Mr. Ali Mohsen Ismail, the Governor of the Central Bank of Iraq, and the membership of the National Investment Commission as the strategic partner in the SIFP program, government banks and the Association of Private Banks,
The committee recommended the implementation of three projects as a starting point for the implementation of the program and projects. The project is to rehabilitate, construct and develop chemical fertilizer plants in Baiji and Abi Al-Khasib, and rehabilitation and development of the glass factories in Ramadi, "He said.
"This program comes as a step complementary to the success achieved by the Central Bank in achieving monetary stability during the war economy and its transition to the Iraqi economy to the runways of the economy of peace, making the process of targeting growth is a very urgent step."
The complex Islamic finance program is the fastest and most advanced means of dealing with the problem of economic development where the financial sector works with the real sector directly without the need for a mediator.

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Post by Lobo on Mon 20 May 2019, 3:29 pm

Thanks Rocky, seems like the CBI is still going full steam ahead.
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The Central Bank launches the Islamic Finance Program Empty The Central Bank launches the Islamic Finance Program

Post by rocky on Mon 20 May 2019, 3:37 pm

[size=35][size=35]The Central Bank launches the Islamic Finance Program[/size]
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Economie

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2019-05-20 07:36
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[size=18]The Central Bank of Iraq (CBE) launched the Islamic Finance Program on Monday, pointing out that the aim of the project is to create a regular partnership in the financing and investment process between conventional and Islamic banks and the public and private sectors.


The program aims to create a regular partnership in the financing and investment process between traditional and Islamic banks on the one hand and the public and private sectors on the other. This investment is carried out under the umbrella of Standard No. 24 issued by the Authority Accounting and Auditing for Islamic Financial Institutions (AAOIFI) ".





"The program will encourage conventional and Islamic banks to participate in the financing of projects of national importance in accordance with Islamic Sharia'a compliant contracts such as Musharaka Bittamleek contracts, Istisna'a and Istisna'a contracts and Ijarah Muntahia Bittamleek contracts," the bank said. 

The project aims to rehabilitate, construct and develop chemical fertilizer plants in Baiji and Abi Al-Khasib, rehabilitate and develop glass plants in Ramadi and rehabilitate and operate the white cement plant. In the district of Fallujah. "


The bank said that "the program Bati as a step complementary to the success achieved by the Central Bank in achieving monetary stability during the war economy and its transition to the Iraqi economy to the runways of the economy of peace, making the process of targeting growth is a very urgent step." 

The complex Islamic finance program is the fastest and most advanced means of dealing with the problem of economic development where the financial sector works with the real sector directly without the need for a mediator.


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The Central Bank launches the Islamic Finance Program Empty The Central Bank launches the Islamic Finance Program

Post by rocky on Mon 20 May 2019, 3:47 pm

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The Central Bank launches the Islamic Finance Program
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The central bank announced on Monday the launch of the Islamic finance program.
"The Islamic Finance Program (SIFP), which aims to create a regular partnership in the financing and investment process between traditional and Islamic banks on the one hand and the public and private sectors on the other hand, Of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
He pointed out that "the program drives conventional and Islamic banks to participate in the financing of projects of national importance in accordance with contracts in accordance with Islamic law, such as participation contracts ended Bittmleek and Istisnaa and Istisnaa parallel contracts and Ijarah Muntahia Bittamleek contracts.
He pointed to "the formation of a committee headed by the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail and the membership of the National Investment Commission as a strategic partner in the program (SIFP) and government banks and the Association of private banks and ministries and stakeholders.
"The committee recommended the implementation of three projects to start the implementation of the program and projects are (the project of rehabilitation, construction and development of chemical fertilizer plants in Baiji and Abi Khasib, and the rehabilitation and development of glass plants in Ramadi, and the project of rehabilitation and operation of the white cement plant in the district of Fallujah, "This program comes as a step complementary to the success achieved by the Central Bank in achieving monetary stability during the war economy and its transition to the Iraqi economy to the runways of the economy of peace, making the process of targeting growth is a very urgent step.
It is worth mentioning that the complex Islamic finance program is the fastest and most advanced means of dealing with the problem of economic development where the financial sector works with the real sector directly without the need for a mediator.


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The Central Bank launches the Islamic Finance Program Empty The Central Bank of Iraq launches the Islamic finance program complex

Post by rocky on Tue 21 May 2019, 3:33 am

The Central Bank of Iraq launches the Islamic finance program complex

[You must be registered and logged in to see this image.]Tuesday, 21 May 2019

The Central Bank of Iraq, [You must be registered and logged in to see this link.] Islamic finance [You must be registered and logged in to see this link.] complex, stating: "The objective of the project to create a regular partnership, in the process of financing and investment, between conventional and Islamic banks and the public and private sectors 

The Bank said in a press statement:" The program drives conventional banks and Islamic participation in the Financing projects of national importance in accordance with the contracts in accordance with Islamic law, such as participation contracts ended Bittamleek and the contracts Istisna and Istisnaa parallel and Ijarah Muntah Bittamleek "The 

bank pointed out that it formed a committee of competent authorities, which recommended the implementation of three projects as a start to The project of rehabilitation, construction and development of chemical fertilizer plants in Baiji and Abi Al-Khasib, the rehabilitation and development of the glass plants in Ramadi and the rehabilitation and operation of the White Cement plant in Falluja. "

V.a


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The Central Bank launches the Islamic Finance Program Empty Re: The Central Bank launches the Islamic Finance Program

Post by weslin3 on Tue 21 May 2019, 5:40 am

[You must be registered and logged in to see this link.] wrote:Thanks Rocky, seems like the CBI is still going full steam ahead.
Despite all of the tensions they are moving ahead.
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The Central Bank launches the Islamic Finance Program Empty Central Bank Launches Consolidated Islamic Finance Program (SIFP)

Post by rocky on Tue 21 May 2019, 5:13 pm

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[You must be registered and logged in to see this image.]  Admi

May 21, 2019 12:39 AM |
Baghdad / Zawra:


The Central Bank of Iraq has launched the SIFP, which aims to create a regular partnership in the financing and investment process between traditional and Islamic banks on the one hand and the public and private sectors on the other hand.Accounting and Auditing for Islamic Financial Institutions (AAOIFI).


The central bank said in a statement that the program paid conventional and Islamic banks to participate in the financing of projects of national importance in accordance with the contracts in accordance with Islamic law, such as participation contracts Bittamleek and Istisnaa and Istisnaa parallel contracts and Ijarah Muntahia Bittamleek contracts.


He pointed out that in the framework of activating this program, the bank formed a committee headed by HE Mr. Ali Mohsen Ismail, the Governor of the Central Bank of Iraq and member of the National Investment Commission as the strategic partner in the SIFP program, government banks and the Association of Private Banks.


He added that the committee recommended the implementation of three projects as a starting point for the implementation of the program and projects. The project is to rehabilitate, construct and develop chemical fertilizer plants in Baiji and Abi Al-Khasib, and rehabilitate and develop glass factories in Ramadi.


[size=16]This program is complementary to the success achieved by the Central Bank in achieving monetary stability during the war economy and its transition to the Iraqi economy to the runways of the peace economy, making the process of targeting growth a very urgent step.



It is worth mentioning that the complex Islamic finance program is the fastest and most advanced means of dealing with the problem of economic development where the financial sector works with the real sector directly without the need for a mediator.




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The Central Bank launches the Islamic Finance Program Empty Re: The Central Bank launches the Islamic Finance Program

Post by chouchou on Wed 22 May 2019, 3:03 am

Good news. Thanks Rocky for all you do!

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