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Indeed, and practical applications in the Islamic banking industry
6/15/2016 0:00
[rtl] BAGHDAD - morning
released a book titled Islamic banking industry reality and the practical applications of thefinancial expert and banking Dr. Sadeq al - Shammari.
The book, which is the number of pages 480 pages of medium size, which included eight chapters interpreted and explained the mechanisms of the Islamic banking in all its citation that helps the reader or researcher on the details of the work of banks Islamist in achieving its desired goal.
adopted the author to Quranic verses from the fence (cow, women, Al - Imran, rum) in the examples market and likened some private Islamic banks and the mechanisms ofaction that describe their appearance and spread its business around the world as amodern industry entered activity back into the banking market the financial terms of the presence and spread all over the world came through the voices of many economists to take out Islamic finance after the traditional banking began to ebb.
this in turn has provided an important and vital role through the many financing instruments provided by Islamic banks and formats for innovative service and broad sectors of the countries and in particular the economic and social sector as well as through the distribution of investments among various sectors, on the grounds that the function of money in the Islamic economy has made these banks to be targets banks achieve social solidarity and achieve educational values and the benefit of the individual and society as well as make a profit muslim, through the distribution of returns and reduce inequality between the incomes of individuals as well as through the material yield , which dates back to the classes of the society in the form of Zakat and donations and loans offered by Islamic banks to those in need.
the author points out in his book that it is necessary to have a regulatory framework and oversight to ensure the achievement of the unification of fatwas and interpretations ofsharia law relating to contracts and transactions executed compliant with the Islamic Shari'a principles what is in the strengthening of stakeholders and different groups trust industry of Islamic finance and the need for full coordination and synergy between theregulatory and legislative bodies and the need to roles coordinate among themselves to find the infrastructure and financial system compatible with Islamic that are measuring the solvency of financial institutions process the principles of sharia box Islamic enough attention to reflect the extent of their exposure to various risks.
also illustrates the importance of having an appropriate framework governance includes practices compatible with Islamic law, and that there is a framework for financial supervision includes financial reporting and accounting systems and audit financial solvency and insolvency cases and risk management , transparency and disclosure and corporate governance.
The author sees the need for coordination between regulatory and educational institutions in the field of Islamic finance to reach a formula and framework for theorganization of professional certification in the field of Islamic finance and adoption ofindividuals who want to work in this field, and requires activating the role of Islamic banking in the national economy and support the establishment of research centers for the development of a private hedge against operational risk and market risk and other financial products of regular and irregular risks compatible with Islamic law.
His book stressed that the Islamic banks managed to achieve successes and clear at theregional and global levels, as evidenced by increasing the number of these banks andgeographical spread, growth in the volume of its activities , where a total of 590 banks spread across 57 countries , it is equivalent to one - third hemisphere countries[/rtl]
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