Rasheed Bank initiated the Islamic banking business with citizens

by Hkp1 Tue 08 Jan 2013, 9:40 am

Hkp1: Interacting Investor; Posts : 3118
Join date : 2012-12-19

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Rasheed Bank initiated the Islamic banking business with citizens

by Hkp1 Tue 08 Jan 2013, 9:40 am

Rasheed Bank initiated the Islamic banking business with citizens

2013-01-08

Baghdad/JD/...Branch
said the Islamic assets Rasheed Bank for direct business Islamic
banking branch and start dealing with citizens.

The source said/JD/:
the activities of the section include the purchase of houses and cars
for citizens, within the context of Islamic law based on the principle
of murabaha.

The Bank said: in the middle of buying houses to
citizens in an installment of 10 years, after the agreement with the
seller and price
determination through a Committee of the Bank for this
purpose, stating: the House keeps returning to the Bank until the
payment of the last installment. And the mechanism of buying cars.

Source:
Bank select controls to purchase cars, and taxi, the claim of the
customer wishing to purchase a car with guarantor to be government
officials, as well as payment of 15% of the car value paid in advance to
the Bank directly.

He added: the experience of Islamic banking, in
Iraq, and for the first time the banking and financial dealings that
responds to the wishes of many financial sector operators who aspire to
deal with banks that are subject to legal controls, adding to send a
number of staff in a training course to Jordan in this regard.

The
Rasheed Bank announced the opening of Islamic assets in a dash to
Baghdad, and is one of the three bank branches opened in Baghdad, Basra
and Najaf under a plan to work with Windows.

The working mechanisms of
these Islamic Windows rely on Sharia-based banking system, and does not
support the comprehensive banking method adopted in the banking
industry./finished/22

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