Islamic banking systems positioned to attract investors and companies

Islamic banking systems positioned to attract investors and companies 


BAGHDAD / Ibrahim Ibrahim 


Economists said that the Islamic banking systems possess high flexibility in daily dealings allowed it to attract individuals and businesses, at the same time calling for the central bank to put a special system of Islamic banks differ from commercial banks, which aims to reap the benefits of profitability at the expense of the customer.

He said economic expert Majid picture in an interview for the "long", that "the banks usual are commercial banks aim interest profitability, according to the capitalist system, which aims to turn a profit in various ways, regardless of the customs and traditions of the citizens." 
and added that "Islamic banks operate according to Islamic law, which prohibits usury but allow the system to participate and Murabaha and investment of all kinds, making it easier for the citizen process to engage in financial transactions with them without accepting deposits in return for little benefit. " 
He explained that the picture of "the Iraqi government represented by the Ministry of Finance owns six banks except Bank of Mesopotamia-Islami, which will be opened soon, which is a sufficiency of this phase and the study of the economic situation and the banking of the country, and through them are deciding to open new branches or not. " 
and said the "global indicators and international illustrate the expansion of Islamic banks and the various countries because they are considered investment banks adaptive and with its customers and provide reassurance complete them." 
and stressed that "the central bank and the Ministry of Finance put a special system and special supervision of domestic banks and not equated with commercial banks to the different systems work in it. " 
and called on the Iraqi Finance Ministry, earlier, investment authorities in all the provinces to take advantage of the Islamic banks in the country, and confirmed that these banks have a "flexible legal and financial "in dealing with investment projects, as revealed for finding ways to support those banks for projects of the country. 
economist said Abbas Bahadeli in an interview for the "long", "The laws on the establishment of private banks and Islamic trade is considered to lag behind in all the details so it must revolutionize banking New accumulations of years and keep abreast of global developments in the operations of financial trading and banking. " 
and added that "some of the franchises owned by Islamic banks exceed the amount of interest and I said to investors and differ from commercial banks, the other being the station supportive of investment projects in a way partnership profitability and not usury, which shunned by our society Iraqi" . 
said Bahadeli that "the establishment of the Bank of Mesopotamia Islamic government the end of 2012 if possible establishment of some investment projects, but on a small scale due to the recent experience of financial and banking in the country." 
And that "the difficulties faced by investment projects, especially in the process of financing from commercial banks to the presence of obstacles large and Albirorqratih high in their dealings, about the attention of investors to the Islamic banks to ease its financial transactions. " 
and stressed that "the widespread witnessed by Islamic banks in the world has produced a new system for the trading of Islamic banking, and the most prominent experiences are reflected in Malaysia which is the native country of the Islamic banks." 
The Islamic banks will Like banks, other classical works to provide the community with the resources he requires different but in a manner legit special followed all management bank in order to raise critical for customers who want to deal with the banks according to the principles of Islamic Sharia. 
revealed the CBI in the month of February 2013 that he would give a number of permits the establishment of private banks, particularly Islamic ones, stressing that the increase in banks will enhance their economic role in the country. 
was the Iraqi Central Bank revealed, on the fourth of April 2014, for the opening of 15 branches of the banks, Arab or foreign in the country during the first three months of this year, As a result of his policy of openness to the world, noting that the withdrawal of leave one branch of the Arab bank for violating the conditions stipulated by laws.


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