Alnasiri: 2018 year starting Islamic banking sector contributes to development

Alnasiri: 2018 year starting Islamic banking sector contributes to development

By :by admin »time \ history: 02:38:07 || January 25, 2018

Today the country - Baghdad -

Sponsored by the Governor of the Central Bank of Iraq and in the presence and participation of elites and personalities and experts, Arab and Iraqi governing Iraqi private banks association in cooperation with the Central Bank and the Islamic banks operating in Iraq on 27 current January Forum Islamic banks in Iraq under the starting banking sector, an Islamic contributes to the development and in an interview to Mr. Samir Nasiri logo economic adviser to the banking and the Association singled out by the ((news agency reported the country's international day)) that "the convening of this meeting at the beginning of 2018 in Baghdad will be discussed in three sessions several key themes, notably the reality of the Islamic banking sector in Iraq and applied Qath in Iraq and legislative environment organization and controls legitimacy for the development of Islamic banking products and the role of Islamic banks in the development and presentation of Arab success of Islamic banking, control, auditing, and the role of legitimate bodies in Islamic banks and international accounting standards and financial inclusion in Islamic banking experiences. "

He Nasiri said that "any investment activity of Islamic banks must be linked to the values ​​of legitimacy and moral, such as the achievement of the principle of justice, honesty, integrity, transparency and stay away from all that is harmful and has a negative impact on society, in the sense of any development project apply for funding from the Islamic bank is seen to be invoked within these controls and standards before considering the size of the expected return that can be achieved by this project, and since the Islamic banks are financial institutions play an important role in economic development through its ability to provide the necessary funding, which helps to implement them, they (ie banks) consider any economic project of g Eutin:

First, the economic importance of this project, and the second social significance to him, namely, the economic importance of economic returns that can be achieved within the legal controls in capital development; and even the project contributes to economic development must bring added value to the national income, as well as the efficiency and good utilization of available economic resources, this result leads to contribute to the achievement of the desired economic stability.

The social significance, it is the fact that the Islamic Bank is not its goal institution to profit only, but seeks to provide social services that would promote healthy social climate and deepen moral values ​​such as honesty and honesty in transactions in accordance with the ethical controls and legitimacy which employs the potential of the human force towards the process productivity, and consequently contribute to the increase of per capita income and increase national income and thus reduce the unemployment rate; the scourge, which lead to many social problems, and so forth. "

Nasiri noted that "the Islamic our banks claim the development-oriented hard investment financing, in line with the committed ethical constants economic development and legitimate and effective contribution in supporting scientific studies and research that contribute to the strengthening of banking experience and development priorities, especially after it seemed to us clear the great interest Bachirvih standards Islamic and means to face the financial crisis and to achieve financial stability and attract savings wider than traditional banks .. In this context, we suggest the following:

- spreading awareness of Islamic banking and culture through their inclusion in the school curricula in specialized colleges.

- Application of Corporate Governance issued by the Central Bank guide and confirm the existence of an appropriate corporate governance system in line with the scientific and technological progress as well as in line with the rapid development and deployment of the Islamic banking industry and ensures the development of a clear strategy for him.

- creating specialized training programs in ethical behavior between the period and the other relating to the nature of the Islamic Bank for owners of high-risk jobs.

- Non-profit Islamic bank considered a measure only on the basis of financial return, but must be taken into account the economic and social return derived from the work of the bank.

- confirm the principle of proactive control, supervision and periodic evaluation of Islamic banks by the Central Bank within the program is placed for this purpose and in line with economic accounting and international standards.