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Islamic banks for the development of banking products and develop


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Islamic banks for the development of banking products and develop

Post by rocky on Wed 24 Sep 2014, 4:16 am

Islamic banks for the development of banking products and develop

9/24/2014 0:00

Occupied Islamic finance a global assessment by international financial institutions in supplying the service projects and productivity Almistoqan domestic and international, has also been able Islamic banks to achieve breakthroughs in the field of products banking far exceeded the commercial banks despite the recent founding, and in line with the general framework of the Government's program 2014 - 2018 has begun Islamic banks have to go to the organization of work through the formation of West Virginia Society of horizontal expansion and communicate with the world's leading banks.


A member of the International Union of Arab Bankers D.sadeg Shammari said: In response to the Lord in the government program proceeded Islamic banks and windows in the Rafidain and Rasheed to establish an association to organize their work in line with the requirements of the next stage and reform-minded to build the country and be aimed at the development of banking products and development, as well as the expansion of the support small and medium enterprises in all provinces, in turn, to the development of most of the economies of the developed world and contributed to the composition of an influential economic blocs.

Association of organizing work

Shammari said in an interview for the "morning" that the government program ensures an attractive environment enables the private sector to fulfill its hinge finance and banking, pointing out that this is encouraged based on Islamic banking in the country to the bloc to form the Association organizes its work and to ensure communication with the international Islamic bank deployed in 57 state has attracted large amounts of capital. He added that the graph of the Islamic banking rises continuously to the fact that their investment portfolios are protected assets are real and thus be safer, pointing out that they offer products social serve communities, shareholders and employees, including, also aims to address the problem of mass unemployment on a large scale.

Feasibility studies

And said Shammari that projects funded by the Islamic banks linked to feasibility studies economic sober to be able to achieve sustainable development, especially that of more than 600 banks worldwide branches scattered in most cities with assets of more than 3 trillion dollars achieved an annual growth rate exceeding 30 percent of the quota market capitalization of the banking business, adding that the operations of Islamic finance has become a focus of attention of many of the peoples of the world.

International communication

He said the competition in the field of Islamic banking at its peak between the United Kingdom and the United Arab Emirates to attract capital and investment through these windows that took great horizontal expansion worldwide.

He Shammari that the objectives of the Assembly of Islamic banks designed to communicate with banking products and international action to supply them to our banks, local, which began to spread in all provinces across the mechanisms of cooperation and partnership, pointing out that the plan of Islamic banks Local aims to be present in all the cities and provide banking services developed for all beneficiaries.

Successful experiences

He pointed out that international experiences in the field of microfinance from Islamic banks have achieved great success, which requires work to move to the country, especially that Iraqi society has considerable experience in the field of activation of small and medium enterprises, where the rise of investment portfolios of all banks to provide loans for establishment in Most of the provinces in line with the goals of expanding the circle of Islamic banking services.

Al-Shammari said that the portfolio of Islamic banks lending to stimulate the hardworking students in universities and owners of small factories and crafts food up to 25 billion dinars within its responsibility in the investigation.

Wide spread

As noted banking expert Saad Furman that Islamic banking found widely welcomed by all Islamic societies and non-Islamic after the great success that has been achieved during the past period, pointing out that despite the recent experience in Iraq, but her career is moving towards the right path, where you'll find plans aimed at spread in all cities.

Development and wide

He said this success stems from the interaction between the service provided by the beneficiaries of this sector, especially that the Iraqi economy is on the verge stage of development and wide in all production and service sectors, which requires the presence of banking products safe progress to the international and local companies that will come with heads of their money into the country .

Said Furman: that all members of the Assembly are going to stand at the determinants facing the work of Islamic banking, including the absence of a law regulating its work, and it depends instructed the central bank to manage its affairs, pointing out that the coming period will witness the quest and claim passage of the law, expressing optimism that the establishment of the Special Assembly banks Islamic and which will contribute to the strengthening of banks orientations toward the enactment of its own.

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