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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Specialists assert that the government supports Islamic banks

    Rocky
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    Specialists assert that the government supports Islamic banks Empty Specialists assert that the government supports Islamic banks

    Post by Rocky Wed 29 Oct 2014, 3:59 am

    Specialists assert that the government supports Islamic banks

    Publication Date: 2014-10-28

    -Special Tomorrow Press

    Baghdad: bankers and specialists confirmed on Tuesday that the government supports and dealing with Islamic banks, despite the absence of a law regulating its work. And argued that the wrong thing.

    He says banking expert, Iyad Manhal Hussein for "tomorrow's Press," "There is no government bill Mali regulates banks, therefore, that the banks work a lot of questions about how to bring capital and how to deal with the projects," noting that "the State Council initiated a draft Law which includes studies in order to prepare a specific mechanism to organize and regulate the work of Islamic banks, but those studies are still under discussion and not resolved. "

    He adds Hussein that "each bank of the Islamic banks at present works by controls and by law to follow each bank where each bank follows the law of Islamic religious reference deprive kind of mechanisms and initiate another type and allow the circulation of certain bank item and prevent another, and this in place so far in Most Islamic banks operating in Iraq. "

    As managing director of United Bank, Majid Aziz, confirms for "tomorrow's Press," that he "can not say for sure that the Islamic banks operate in varying outweigh the commercial banks because First: It's newly established in Iraq, and secondly that their capital can not reach the money commercial banks capital I started working since 1994 and this is something unreasonable. "

    Refers Aziz that "commercial banks can not deny the existence of a successful Islamic banks in the banking business, and with evidence that some of the government and commercial banks are now starting to open Islamic windows in which the customer's requirements, the fact that some customers ask to be their money under Islamic banking mechanisms."

    He continues, Aziz said, "which governs the success of the work of private banks, whether commercial or Islamic is the profit size and the volume of deposits and compared with other banks, the fact that the record of the profits is the one who can prove estimated that the bank of his money management and how to support the Iraqi private sector in general."

    Islamic banks, for their part, admitted that there was no law regulating the work is waiting for the appropriate legislation in its advocacy work on policy provided by the economic sector in Iraq.

    He says the managing director of the Bank of the country's Islamic, Iyad al-Bayati for "tomorrow Press", that "there are instructions issued bearing the number 6 for the year 2011 and had a revised amendment, content to support Islamic banking and how the financial and banking deal with and is now in possession of the State Council," pointing out that "This amendment is not enough, where there should be special legislation Islamic Bachirfah being different from commercial banking in terms of handling and bank deposit and withdrawal method and even the implementation of projects supported by the Islamic bank in general."

    Bayati explains that "Islamic banks supported the infrastructure of the various sectors operating in Iraq projects," adding that "these projects are documented and real started from Nineveh to Basra in various sectors such as housing and sanitation monumental and other infrastructure projects."

    The Commissioner of the Bank of Islamic Economics Director, Sadiq al-Shammari Vipin for "tomorrow's Press," that "there is a consensus by all Islamic banks and windows in government banks to work in one box near the international banking sector, through joint programs of work in organizing seminars international conferences to the calendar performance more and expand to include all parts of the world ", as well as the trend to make partnerships between local and international banks to enhance the experiences that contribute to the construction of the global financial and economic structures" .oaakd Shammari said "Islamic banking departments and in coordination with the Islamic Association of Banks plans to set up a specialized training center trained cadre of best advanced through the adoption of global programs under the supervision of local and international experts in order to interact with the international Islamic banking family. "

    He pointed out that the Islamic Association of Banks looks forward to the introduction of new and meaningful and vital economic channels and thus be able to install the pillars of Islamic banking more than him and that's what make them targets many limbs, "noting that" the success of the regional and international level that no one can be denied or ignored, which is reflected in the sheer volume of assets managed by these banks, which amounted to up to $ 700 billion is expected to grow its turnover early 2016 for up to four trillion dollars and limits growth by 35 percent. "

    For his part, says the Parliamentary Finance Committee member, Haitham al-Jubouri's "Tomorrow Press", "The Islamic banks have achieved great successes in Iraq, because of the nature of Iraqi society, which mostly Muslims," ​​adding that "the Muslims of Iraq, in particular, have a great religious and ideological commitment and fear many things, especially in investment funds as a result of the financial benefit of the money. "

    Jubouri and adds that "Islamic banks now surpassed heavily on commercial banks as evinced began to spread and widely across the country, because these banks granted free of interest rate financial loans, Most citizens and even venture capitalists prefer Islamic banks without the other."

    The number of Islamic banks has increased to 600 Bank scattered in 57 countries, is equivalent to a third of the countries in the world.

    The Islamic banks, like other banks are working on providing community, including needs of different resources, but particularly a legitimate manner followed by each bank management in order to raise critical for customers who want to deal with banks, according to the principles of Islamic Sharia.

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