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Islamic banks strong participant in supporting the national economy

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Screwball
Interacting Investor
Interacting Investor

Posts : 2002
Thanked : 284
Join date : 2012-12-19

Islamic banks strong participant in supporting the national economy

Post by Screwball on Tue 10 Mar 2015, 6:07 am

Director General of the Islamic Bank of Mesopotamia to justice:

Islamic banks strong participant in supporting the national economy

Justice / Salah al-Hassani - 03/10/2015



Said Mr. Abdul Hussein Ali Mundhiri

Director General of the Islamic Mesopotamia Bank Islamic banks strong participant in supporting the national economy, said in a statement to the justice that of Islamic banks targets including Mesopotamia Islamic Bank is to provide far from usury Islamic products and are compatible with the principles of Sharia Alasalamah.vdila that the bank do not deal in accordance with the principle of the interest rate that works by commercial banks, but we deal according to the principle of profit ratio, which comes through the realization of the work, which is achieved through the sale and purchase transactions. and that the bank, which has its capital (150) billion dinars will work within this year plan to lend to small and medium enterprises through the bank's capital deposits and investors to these projects being did not need big money in order to the largest possible number of project funding, noting that the Islamic Mesopotamia Bank was established under Law 95 for the year 2012 was published in the Iraqi Gazette dated 17.12.2012 and the start of the bank unchanged if the rest of the Islamic banking rules and regulations Incorporation with the Central Bank of Iraq in accordance with the basic requirements for the establishment of the bank starting capital and the bank building and furnishing the human cadre, who leads the banking business within the bank. We have two branches in Baghdad and three branches in Basra and Najaf and Anbar, as well as the main branch. Stressing that the Islamic banks initiated take its normal course of action, starting from the establishment of the Dubai Islamic Bank in 1975 and the Islamic Development Bank in Jeddah in 1977, as well as direct the work of Islamic banking in 1993 by the Iraqi Islamic National Bank, which was established in accordance with the special law by the previous government until it reached number Currently seven private Islamic banks and the Bank of government and one in addition to opening a branch of the Abu Dhabi Islamic Bank in Iraq, noting that the Ministry of Finance was the key supporter of the main bank and this cooperation resulted in the establishment of this bank from the allocation of the building down to the allocation of capital as well as the placement of transfer staff from other banks in order to do the banking process management and the bank is supported financially and morally as well as from private banks Association and the Central Bank Atalraca and prime minister Stressing that everyone direct waiting for work to help support the national economy at this critical juncture for the result of lower oil prices. Stressing that the Islamic Mesopotamia Bank will enter into a new and non-existent in the banking market products, especially with regard to supporting small businesses and the field of infrastructure projects, especially after it became the budget can not meet all the infrastructure projects and bringing the front of Islamic banks an opportunity to move its activity Asamimi and authentic, a finance investment projects . He pointed out that the bank will grant loans in the first stage to buy a car or buy raw materials for the owners of the character or industrial workshops fact that the bank is to Aymanh money directly to the borrower, but the bank will purchase the materials needed by the borrower and sold to willing Cra.onoh that the bank will Broken loans to buy homes During 2015, the fact that the capital Aithml the fact that the purchase of the homes need to be very high amounts and duration of long-term repayment. He stressed that in the case of issuance of Islamic Sukuk Act or the Central Bank of Iraq to allow our bank to establish investment funds will be directed the bank to implement a new strategy in the coming years from the entry through the implementation of or participation investment projects, whether real estate projects or bridges or railway lines or airports and all projects you need the infrastructure and the most important residential projects in order to alleviate the housing crisis afflicting Albuld.oukal, Islamic banks in Iraq is weak and does not represent the aspirations of the customers of the public because of the weakness of money these banks capital in addition to the weakness of its assets and Deposits, ADRs and the enthusiasm of the public by causing to a delay in the its not a real product that you need his investment and development operations of private infrastructure projects Altanah.olhma progress still Islamic banks are still weak and brief transactions on simple transactions such as Murabaha and advances and participation. Stressing that the private banks currently can not attract deposits of the public in order to be pumped to the process of production and investment investment according Alasalamah.oahar roads we asked the central bank and finance ministry to speed up the issuance of a law instruments Islamic so that the bank to attract the savings of citizens and investors for the purpose of her husband own economic process society universe The community currently supports infrastructure and financing projects to government banks that make up 90% of the banking size Alaraca.oakd that the bank will proceed in this direction through an agreement with the provinces and investment companies boards that have contracts and contracting with the government for the purpose of participation in the implementation of important investment projects in the country very large amounts of capital through the bank or through the establishment of investment funds with the approval of the Central Bank of Iraq or through instruments of Islamic law if they are issued .uan main obstacles faced by the bank Mundhiri explained that the most important obstacles are delayed work of the bank license from the Central Bank of Iraq because otherwise jurisprudential where the central bank treats the bank by companies 22 law while the main objective of the bank is a government bank in the spirit of the private sector, where the Bank's Board of Directors consisting of 4 from the private sector and 3 from the bank for the purpose of the dimensions of bureaucratic jobs bank and encourage investment in order to serve the national economy At this stage,



http://www.aladalanews.net/index.php?show=news&action=article&id=125685

Screwball
Interacting Investor
Interacting Investor

Posts : 2002
Thanked : 284
Join date : 2012-12-19

Re: Islamic banks strong participant in supporting the national economy

Post by Screwball on Tue 10 Mar 2015, 6:09 am

Stressing that the private banks currently can not attract deposits of the public in order to be pumped to the process of production and investment investment according Alasalamah.oahar roads we asked the central bank and finance ministry to speed up the issuance of a law instruments Islamic so that the bank to attract the savings of citizens and investors 



This is where the Islamic banking law is very important for us! 1st reading underway!

    Current date/time is Sun 04 Dec 2016, 10:30 pm