Islamic banks are willing to work with "Islamic instruments" and calls for legislation law defines work
[You must be registered and logged in to see this image.]
Long-Presse / Baghdad Called departments private Iraqi banks, on Wednesday, to organize the work of Islamic banks in Iraq, the law, as they represent an important part of the Iraqi economy, while the representatives of the Islamic banks that the State Council is currently considering the drafting of a special law in this sector, and revealed their intention to implement the project "Islamic bonds" to support the national economy.
It consists of the Iraqi banking system of 54 banks, including seven state-owned, one of them an Islamic talk of incorporation, and 23 special commercially, including Islamic nine, are found in Iraq, also 15 branches of foreign banks, and there are many institutions that do some banking business, including 34 money transfer company, and nearly 200 affiliated banks or foreign exchange company to deal with, with the Loan Guarantee Company and the financing of small and medium-sized enterprises, with two of the electronic banking services and smart card, in addition to nearly 800 subsidiary banks and distributed to the provinces of Iraq.
The Managing Director of the Bank of guidance for investment, Hazem al-Shammari, said in an interview to the (long-Presse), "The Islamic banks lack the mechanism or law to regulate its work," returned to "the work of those banks raises a lot of questions on how to access to capital and dealing with projects ".
Shammari said, that "the State Council had intended to prepare a draft law to regulate the work of Islamic banks, but it is still under study," noting that "every one of the Islamic banks operating in Iraq currently follows the religious reference deprive some sort of financial transactions and analyze the latest, as is the case with most of their counterparts in the world. "
For his part, saw the Commissioner of Bank Union Director, Aqeel trouble maker, in an interview to the (long-Presse), not "the possibility of the assertion that Islamic banks operate in varying outweigh its counterpart for being a newly established in Iraq, and that the capital can not be compared to those found at commercial and investment banks I started working since 1994 ".
The trouble maker, that "the progress of the other Islamic banks does not prevent some success in the banking business," proving that the "some commercial banks began to open Islamic windows because a lot of customers asking for subjecting their mechanisms of Islamic banking."
Commissioner promised to Union Bank Director, that "the success of the work of private banks, whether commercial or investment or Muslim, is the size of its deposits and progress of the profits, because it is a proof of its ability and good management",
In contrast, Islamic banks approved its part, the absence of a law regulating the work, and defended by the Iraqi orientations and economic sector.
The Managing Director of the Bank of the Islamic country, Iyad al-Khafaji, said in an interview to the (long-Presse), "The government has already issued instructions since the year 2011 to organize the work of Islamic banks and support," noting that "the State Council is considering such instructions is to draft a law on banks Islamic. "
Said al-Khafaji, the need to "legislation of a special law Islamic Bachirfah being different from the business in terms of transactions and the method of deposits and withdrawals, and even the implementation of projects supported by," adding that "Islamic banks supported the infrastructure for various operating in Iraq sectoral projects, such as housing and sanitation, and others, From Nineveh to Basra. "
The detection of the Bank of the Islamic country, for "the determination of some Islamic banks to agree on the implementation of the project benefit the Iraqi economy as a whole and not the banking sector only," he continued that "The Islamic instruments, where Islamic banks are trying to raise the central bank's interest and the Ministry of Finance to the project by providing a study by the authorities concerned. "
Islamic banks operate like other banks, to provide the community with needed resources in a manner different from the "illegal" in order to raise the "embarrassment" for customers who want to deal with the banks in accordance with the principles of Islamic law.
In the pursuit of government and private banks and citizens wishing to invest service, banks, "node" progress towards this sector remains the law because of the "restricted freedoms and subjected to the control of" state.
The specialists and managers of banks, demanded in conversations to (long-Presse) in, (the 17th of this April 2015), the need to amend the Banking Act almost makes those banks contribution to the President of the Iraqi economy, and stressed that the total capital of Iraqi private banks amounted to one billion and 600 million dollars during 2014, while the government has confirmed that it is currently considering several proposed projects to strengthen the infrastructure for private banks and enable them to meet the challenges facing the country.
It is noteworthy that the banking system in Iraq consists of 54 banks as well as the Central Bank and distributed according to property between (7) state banks and 23 commercial banks, including special (9) Islamic banks in addition to the 15 branches of foreign banks.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
Long-Presse / Baghdad Called departments private Iraqi banks, on Wednesday, to organize the work of Islamic banks in Iraq, the law, as they represent an important part of the Iraqi economy, while the representatives of the Islamic banks that the State Council is currently considering the drafting of a special law in this sector, and revealed their intention to implement the project "Islamic bonds" to support the national economy.
It consists of the Iraqi banking system of 54 banks, including seven state-owned, one of them an Islamic talk of incorporation, and 23 special commercially, including Islamic nine, are found in Iraq, also 15 branches of foreign banks, and there are many institutions that do some banking business, including 34 money transfer company, and nearly 200 affiliated banks or foreign exchange company to deal with, with the Loan Guarantee Company and the financing of small and medium-sized enterprises, with two of the electronic banking services and smart card, in addition to nearly 800 subsidiary banks and distributed to the provinces of Iraq.
The Managing Director of the Bank of guidance for investment, Hazem al-Shammari, said in an interview to the (long-Presse), "The Islamic banks lack the mechanism or law to regulate its work," returned to "the work of those banks raises a lot of questions on how to access to capital and dealing with projects ".
Shammari said, that "the State Council had intended to prepare a draft law to regulate the work of Islamic banks, but it is still under study," noting that "every one of the Islamic banks operating in Iraq currently follows the religious reference deprive some sort of financial transactions and analyze the latest, as is the case with most of their counterparts in the world. "
For his part, saw the Commissioner of Bank Union Director, Aqeel trouble maker, in an interview to the (long-Presse), not "the possibility of the assertion that Islamic banks operate in varying outweigh its counterpart for being a newly established in Iraq, and that the capital can not be compared to those found at commercial and investment banks I started working since 1994 ".
The trouble maker, that "the progress of the other Islamic banks does not prevent some success in the banking business," proving that the "some commercial banks began to open Islamic windows because a lot of customers asking for subjecting their mechanisms of Islamic banking."
Commissioner promised to Union Bank Director, that "the success of the work of private banks, whether commercial or investment or Muslim, is the size of its deposits and progress of the profits, because it is a proof of its ability and good management",
In contrast, Islamic banks approved its part, the absence of a law regulating the work, and defended by the Iraqi orientations and economic sector.
The Managing Director of the Bank of the Islamic country, Iyad al-Khafaji, said in an interview to the (long-Presse), "The government has already issued instructions since the year 2011 to organize the work of Islamic banks and support," noting that "the State Council is considering such instructions is to draft a law on banks Islamic. "
Said al-Khafaji, the need to "legislation of a special law Islamic Bachirfah being different from the business in terms of transactions and the method of deposits and withdrawals, and even the implementation of projects supported by," adding that "Islamic banks supported the infrastructure for various operating in Iraq sectoral projects, such as housing and sanitation, and others, From Nineveh to Basra. "
The detection of the Bank of the Islamic country, for "the determination of some Islamic banks to agree on the implementation of the project benefit the Iraqi economy as a whole and not the banking sector only," he continued that "The Islamic instruments, where Islamic banks are trying to raise the central bank's interest and the Ministry of Finance to the project by providing a study by the authorities concerned. "
Islamic banks operate like other banks, to provide the community with needed resources in a manner different from the "illegal" in order to raise the "embarrassment" for customers who want to deal with the banks in accordance with the principles of Islamic law.
In the pursuit of government and private banks and citizens wishing to invest service, banks, "node" progress towards this sector remains the law because of the "restricted freedoms and subjected to the control of" state.
The specialists and managers of banks, demanded in conversations to (long-Presse) in, (the 17th of this April 2015), the need to amend the Banking Act almost makes those banks contribution to the President of the Iraqi economy, and stressed that the total capital of Iraqi private banks amounted to one billion and 600 million dollars during 2014, while the government has confirmed that it is currently considering several proposed projects to strengthen the infrastructure for private banks and enable them to meet the challenges facing the country.
It is noteworthy that the banking system in Iraq consists of 54 banks as well as the Central Bank and distributed according to property between (7) state banks and 23 commercial banks, including special (9) Islamic banks in addition to the 15 branches of foreign banks.
[You must be registered and logged in to see this link.]
Today at 3:53 pm by Rocky
» A deputy reveals the most dangerous files facing the Sudanese government’s program
Today at 3:49 pm by Rocky
» Parliamentarian: Amending the election law needs time to pass
Today at 3:48 pm by Rocky
» The work of the committees will bring nothing but disappointment to the people... procrastination an
Today at 3:47 pm by Rocky
» Under American sponsorship, Jordanian banks swallow the Iraqi dollar
Today at 3:46 pm by Rocky
» A member of the Parliamentary Oil Committee sets the date for ending the gas import file in Iraq
Today at 3:43 pm by Rocky
» The Minister of Oil announces the end of licensing rounds and reveals the number of participating co
Today at 3:41 pm by Rocky
» The Chinese company that won the development of Al Dhafriya field: The competition in the two licens
Today at 3:40 pm by Rocky
» Political praise for the Sudanese: He has an industrial and commercial mentality
Today at 3:36 pm by Rocky
» Melancholy Molly
Today at 10:05 am by wciappetta
» utube MM&C 5/11/24 Iraqi Dinar - IQD Update - International - IraqTiming - 2024 Budget Schedule - Sp
Today at 7:05 am by Rocky
» The reality of the American presence... Objections are rising and the Sudanese are silent
Today at 7:00 am by Rocky
» The work is discussing with the World Bank a project related to social protection beneficiaries
Today at 6:58 am by Rocky
» Parliamentary Finance: The government intends to send the budget schedules this week
Today at 6:57 am by Rocky
» The Emirates tops and Iraq does not exist...the list of the richest people in the Middle East and No
Today at 6:54 am by Rocky
» A government plan to combat poverty and include 400,000 families with health insurance
Today at 6:53 am by Rocky
» Iraq signs a memorandum of understanding with an American company to support the energy sector
Today at 6:52 am by Rocky
» A deficit exceeding 75 trillion, and this is the date of its arrival.. Parliament’s finances talk ab
Today at 6:51 am by Rocky
» Kirkuk.. A bank was caught receiving remittances for ISIS from a neighboring country
Today at 6:48 am by Rocky
» The Minister of Commerce discusses with his Lebanese counterpart procedures for accelerating the con
Today at 6:45 am by Rocky
» To find out who is negligent or not... The Basra Council forms a committee to follow up on the heads
Today at 6:43 am by Rocky
» Iraq signs a memorandum of understanding with “Honeywell” to support the energy sector
Today at 6:41 am by Rocky
» The judiciary reaches the final stage in the theft of the century file
Today at 6:39 am by Rocky
» An economic expert proposes a solution to end the Jordan National Bank's "takeover" of the currency
Today at 6:36 am by Rocky
» utube 5/12/24 Iraqi Dinar | Citi Bank Announced New Rate Of The Iraqi Dinar | Dinar News Today 202
Today at 5:21 am by Rocky
» Reassurance to employees: “Salaries are not affected by delays in budget schedules.”
Today at 5:18 am by Rocky
» Al-Anbeki: The framework is determined to proceed with the election of the Speaker of Parliament
Today at 5:14 am by Rocky
» Al-Karaawi calls for revealing the truth about the presence of American forces
Today at 5:13 am by Rocky
» Political conflict and corruption in Anbar oust two officials
Today at 5:12 am by Rocky
» After joining Al-Halbousi, an agreement was reached to nominate Mahmoud Al-Mashhadani for the presid
Today at 5:10 am by Rocky
» Within a month, the Central Bank of Iraq’s sales exceeded $4 billion
Today at 5:09 am by Rocky
» The Iraqi Parliament decides to elect its new president next Saturday
Today at 5:08 am by Rocky
» The Interior Ministry activates mobile stations to issue the unified card for communities abroad
Today at 5:05 am by Rocky
» Jordan stops importing oil from Iraq
Today at 5:05 am by Rocky
» The Association of Private Banks praises the Iraqi Central Bank’s approach to establishing digital b
Today at 5:03 am by Rocky
» Iraqi fields cling to the foreign and kick the local... 3 reasons that embarrass private companies i
Today at 5:02 am by Rocky
» The Minister of Commerce stresses the importance of creating a state of balance in the economy and e
Today at 5:01 am by Rocky
» Among them is weak demand for gas...an economic diagnosis of the “most important” observations on th
Today at 5:00 am by Rocky
» Proposing a parliamentary plan to get rid of job stagnation in state departments
Today at 5:00 am by Rocky
» Involving and integrating the private sector into the investment map for sustainable development
Today at 4:59 am by Rocky
» Population claims in the Maysan Marshes: Our water share is not distributed fairly
Today at 4:58 am by Rocky
» The Iraqi Parliament reveals the latest developments in the “theft of the century”
Today at 4:57 am by Rocky
» Jordanian industry exports to Iraq record an increase in 2024
Today at 4:56 am by Rocky
» Implementation of 85% of the southern green belt in Karbala
Today at 4:54 am by Rocky
» The Interior Ministry completes cleansing the areas of organized crime gangs
Today at 4:53 am by Rocky
» Immigration: The displacement file will be closed next July 30
Today at 4:52 am by Rocky
» Transport sets a date to close the file of development road route conflicts
Today at 4:51 am by Rocky
» Service projects are launching non-stop
Today at 4:49 am by Rocky
» Launching the Development Investors Map 2030
Today at 4:48 am by Rocky
» Minister of Health to the Family Physicians Association: The year 2024 is the year of primary health
Today at 4:45 am by Rocky
» The Iraqi Car Company wins the investment in the Al-Khulaysia area on the Iraqi-Syrian border
Today at 4:44 am by Rocky
» Oil: No company has come forward to develop the Shihabi area within the provinces of Maysan and Wasi
Today at 4:43 am by Rocky
» The House of Representatives sets next Saturday as the date for holding a session to elect its speak
Today at 4:42 am by Rocky
» The Kurds refuse to share security positions in Diyala, “and there is nothing wrong with partnership
Today at 4:40 am by Rocky
» Kurdistan is a repellent environment for young people... migration is still taking place and victims
Today at 4:39 am by Rocky
» A Kurdish-Arab conflict prevents the harvest in Kirkuk and a call for the Sudanese to intervene
Today at 4:38 am by Rocky
» An Iranian newspaper accuses Iraq of participating in a "water plot" against Tehran
Today at 4:37 am by Rocky
» The Minister of Immigration directs all the ministry’s departments and branches to simplify procedur
Today at 4:33 am by Rocky
» Al-Mandalawi: Parliament attaches utmost importance to human rights laws
Today at 4:32 am by Rocky
» Al-Sadara was surprised and announced its joining Al-Halbousi
Today at 4:31 am by Rocky
» Parliamentary Oil: Licensing rounds will pave the way for raising oil and gas production
Today at 4:30 am by Rocky
» Al-Saadawi and the Tunisian Foreign Minister discuss activating the Baghdad-Tunisia line
Today at 4:29 am by Rocky
» After joining Al-Halbousi, an agreement was reached to nominate Mahmoud Al-Mashhadani for the presid
Today at 4:28 am by Rocky
» The Minister of Commerce stresses from Manama the importance of supporting efforts made to enhance A
Today at 4:27 am by Rocky
» Minister of Oil: Most of the licensing round projects focused on gas patches to support electrical s
Today at 4:26 am by Rocky
» Al-Awadi: Terminating the work of the UNAMI mission came at an Iraqi request and a UN recommendation
Today at 4:25 am by Rocky
» Kurdistan Democratic Party: Resuming the export of the region's oil in the near future
Today at 4:24 am by Rocky
» After two years of isolation, Al-Sadr is looking for a majority that will not force him to ally with
Today at 4:23 am by Rocky
» Middle East Eye: A booming underground trade in alcohol in Iraq after it was banned in 2023
Today at 4:21 am by Rocky
» 4 million for each year of imprisonment... Freedom in exchange for money... A controversial new Iraq
Today at 4:20 am by Rocky
» The livestock sector in Iraq...indicators warning of a major crisis
Today at 4:18 am by Rocky
» “Unfair” reconstruction in Iraq: areas where machinery is crowded and others still demonstrating for
Today at 4:17 am by Rocky
» Economic statistics: The volume of internal debt in Iraq has risen to more than 76 trillion dinars
Today at 4:15 am by Rocky
» Saleh explains the relationship between the rise in gold and the decline of the dollar and warns of
Yesterday at 3:32 pm by Rocky
» The Minister of Oil sponsors the signing of an agreement to develop the Tuba oil field project with
Yesterday at 3:26 pm by Rocky
» In numbers... Basra Oil explains the importance of the Tuba field after signing a contract to develo
Yesterday at 3:25 pm by Rocky
» Electricity: The government provides energy at subsidized prices for (4) categories
Yesterday at 3:24 pm by Rocky
» The electricity produced in Iraq covers 65% of demand... and 15 thousand megawatts is a “deficit”
Yesterday at 3:22 pm by Rocky
» Parliamentary services: Government interest in Baghdad will make it one of the most beautiful capita
Yesterday at 3:21 pm by Rocky
» Basra Council emphasizes work to qualify young people and place them in the labor market
Yesterday at 3:19 pm by Rocky
» Politician: Al-Kadhimi was recommending that Plasschaert write “negative” reports about Iraq
Yesterday at 3:17 pm by Rocky
» Trade launches operations to lift the ban on the ration card next to Rusafa
Yesterday at 3:16 pm by Rocky
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
Yesterday at 6:57 am by Rocky
» Bahr Al-Ulum calls for legislating the renewable energy law and localizing the solar panel industry
Yesterday at 6:49 am by Rocky
» In numbers: the rise in internal debt in Iraq
Yesterday at 6:49 am by Rocky
» Jordan demands that Iraq continue to export oil for another three months
Yesterday at 6:46 am by Rocky
» Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun
Yesterday at 6:44 am by Rocky
» Close to the coordination framework: There is no intention to change the internal regulations of Par
Yesterday at 6:43 am by Rocky
» Central Bank sales exceed $274 million today
Yesterday at 6:41 am by Rocky
» But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C
Yesterday at 6:38 am by Rocky
» Jordan addresses Iraq to extend a memorandum of understanding to purchase oil
Yesterday at 6:36 am by Rocky
» Bribes increased from 3,000 to 50,000 dollars.. What is the condition of alcohol in Iraq after the p
Yesterday at 6:34 am by Rocky
» Presence movement: Sunnis and Kurds while the Americans remain in Iraq
Yesterday at 5:31 am by Rocky
» A deputy reveals the contents of the first water strategy in Iraq
Yesterday at 5:29 am by Rocky
» Soon...the second reading of the proposed red card law
Yesterday at 5:28 am by Rocky
» The discovery of 10 new oil and gas fields in the Anbar desert
Yesterday at 5:27 am by Rocky
» A bloc announces to “Al-Ma’louma” the date of the parliamentary speaker’s election session
Yesterday at 5:26 am by Rocky
» Parliamentary Finance explains the mechanism for amending the retirement law
Yesterday at 5:24 am by Rocky
» Sovereignty accuses Al-Halbousi of obstructing the election of a Speaker of Parliament
Yesterday at 5:23 am by Rocky