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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


2 posters

    Specialists: Islamic banks outperformed on business and gain a wide audience but needs its own law l

    Hkp1
    Hkp1
    Hkp1
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    • Post n°1

    Specialists: Islamic banks outperformed on business and gain a wide audience but needs its own law l Empty Specialists: Islamic banks outperformed on business and gain a wide audience but needs its own law l

    Post by Hkp1 Sun 23 Dec 2012, 1:44 pm


    Specialists: Islamic banks outperformed on business and gain a wide audience but needs its own law legislation

    Date: 2012/12/23 12: 59: 56 Sunday


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    Baghdad (News)/report/Hussein Faleh/... After
    the spread of Islamic banks and extensively across the country, there
    was a strong desire by citizens in dealing with banks Islamic nature
    that they do not believe in the principle of interest on funds deposited
    and borrowed.

    A number of
    lawmakers and financial experts in their (News News Agency) to the
    enactment of a new Islamic banks to organize its work and contribute to
    the development of the country's economy.

    Member of the Committee for economy and
    investment Deputy/Coalition blocs Kurdish Jasim Mohamed Hussain, said
    that Islamic banks had great successes in Iraq because of the nature of
    Iraqi society that mostly Muslims, noting that Muslims in Iraq in
    particular have great religious and ideological commitment and fear many
    things, especially in the investment of funds as a result of the
    financial interest of the money.

    Added Hussein (News News Agency): Islamic banks now
    excelled in big commercial banks to guide it spreading widely across
    the country, because these banks granted loans without interest rates,
    most citizens and even venture capitalists prefer Islamic banks.

    Confirmed: the importance of a new law for
    Islamic banks and be isolated from the General Banking Act puts the
    Islamic ideas on the nature of the work of banks in order to achieve
    more success and organize its work.

    While
    most of the Executive Director of the Association of private banks
    Abdelaziz goldfinch, a faith in the Central Bank for legislation of a
    special law for Islamic banks, because their work is incompatible with
    certain articles of the law on banks.

    He said goldfinch (News News Agency): Islamic banks
    need to work with a clear legal framework, because its work is
    incompatible with the provisions of the Banking Act No. (94) of the year
    (2004), particularly in the area of investment and partnerships that
    make profit.

    Explained: the Central Bank wrote a draft
    law for Islamic banks work and discussed with the Association of banks,
    and now it was introduced to the legislature (Parliament) for approval,
    indicating that the law will allow banks to exercise Islamic banking
    which is very different from traditional banking.

    He was the President of the Republic
    issued the law on the establishment of the Islamic Bank of rivers no.
    (95) of 2012 with a capital of 50 billion Iraqi dinars, pointing out
    that one of the functions of the Bank, the practice of banking activity
    within and outside Iraq, and of financing and investment in various
    projects and activities.

    The Federal Government announced, in April
    of this year, the Islamic Bank of rivers Bill at the request of the
    Finance Ministry, indicating that the bank supervisory body composed of 4
    members with expertise and competence in Islamic jurisprudence Fiqh.

    As a member of the Finance Committee of
    the National Alliance Deputy//Secretary Hadi, refer the Government
    encouraging reasons to open an Islamic banks in the country to increase
    public trust in that they do not believe RIBA and no financial benefits,
    adding that the successful experience of open ports in General banks
    paid the Government thinking about opening Islamic banks.

    He said Hadi (News News Agency) as a result
    of high financial interest rate imposed by some governmental and private
    banks that arrives (8%) (10%) The
    Government decided to open the Windows in the Rafidain Bank and Rasheed
    to see public demand, noting that the successful experience to promote a
    more open Islamic banks, whether domestic or foreign, in Iraq.

    He noted: the Islamic banks will give an
    impetus to the advancement of the banking sector and will create a
    competitive atmosphere among Iraqi banks, as well as it will help to
    boost investment by encouraging him to work and reconstruction and
    speculative stocks, excluding private law legislation Islamic banks
    because it will affect the nature of the Iraqi State and private banks.

    Banking expert, said Mohsen Ali, the importance of
    the legislation of a special law for Islamic banks to support and
    organize its work, the General Banking Act is incompatible with the
    nature of the work of the Islamic banks in Iraq.

    Ali (News News Agency): that Islamic banks is
    incompatible with the General Banking Act of the year (2004) as it
    believes the principle of financial interest while Islamic banks granted
    loans without a financial ratios.

    He added that the Government and
    Parliament to legislate a special law for Islamic banks banking activity
    will support in Iraq and organize its work.

    The Islamic banking activities in Iraq
    started in (1993) when establishing Islamic Bank of Iraq, even now (10),
    including a new Government Bank called two rivers, there is an external
    Bank and another Gulf.

     In Iraq the Government banks are the two
    State banks, Rafidain and Rasheed to other banks, notably, real estate
    and agricultural and cooperative, and established many civil since 2003
    banks including the commercial bank, Investment Bank and the Islamic
    Bank Al-Ahli Bank, as well as other banks developed./finished/8 n. p.


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    lonelyintexas
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    • Post n°2

    Specialists: Islamic banks outperformed on business and gain a wide audience but needs its own law l Empty Re: Specialists: Islamic banks outperformed on business and gain a wide audience but needs its own law l

    Post by lonelyintexas Sun 23 Dec 2012, 2:31 pm

    Great article thanks Hkp,
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