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Specialists: Islamic banks are growing rapidly and gained a wide audience


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Specialists: Islamic banks are growing rapidly and gained a wide audience

Post by rocky on Sun Jun 23, 2013 9:17 am

Specialists: Islamic banks are growing rapidly and gained a wide audience

23-06-2013 01:38 PM

Baghdad (news) / report / Hussein Faleh / .. Cut Islamic banks HyundaiUSA important in strengthening its activities in the Iraqi market, even become a competition of commercial banks by gaining a wide audience and increase the size of their capital, prompting the government to open Islamic windows in the Rafidain and Rasheed aims to fund projects such as buying houses and cars by the citizens according to certain safeguards and the period of repayment soft.

The confirmed number of specialists in the field of banking that Islamic banking is growing rapidly during the current period and earned the audience at large, calling during their talk (of the Agency news) to the need for the enactment of its own to allow them to participate and investment to promote economic development in the country.

Executive Director of the Association of private banks Abdul Aziz Hassoun, stressed: that Islamic banks gained a wide audience and increased the size of its capital, It Made intervention and direct financing, which has increased its activity in the local market.

He said Hassoun (of the Agency news): The subject of post Islamic banking in development projects and reconstruction in the country, it's a process you need to programs and plans to post those banks contribute well, by gaining assurances from government departments to implement their projects.
He added: Banking Law present the problematic because the banks of Islamic and commercial working under Mdilthen what makes significant challenges in the work of those banks, calling for the enactment of a special Islamic Banks allowed to invest a legal and allows them to access a wider investment and development in the country.

It was Rasheed Bank announced the opening of a branch of Islamic assets in the Wathba Square in Baghdad, one of the three branches opened by the bank in Baghdad, Basra and Najaf, part of a plan to work with Islamic windows.

It is noteworthy that the mechanisms of action of these windows will depend on the Islamic banking system depends Islamic law, does not depend comprehensive banking method adopted in the banking industry.

As a member of the Committee on the economy and investment MP / coalition in Iraq / Qusay F, that Iraq over the experience of Islamic banking by opening windows in the Rafidain and Rasheed, although the orientation of Deputies was towards the establishment of the Bank government Islamist independently, where he achieved great success by earning the public and participation in the market.

Gomaa said (of the Agency news): that the majority of citizens began to prefer to deal with Islamic banks without business because a lot of people look at that prohibited financial interest and that is what caused them in dealing with banks with Islamic character.

He added: General Banking Law of the Islamic banks are not allowed direct investment and participation in development projects, making their work is limited in the market, stressing the importance of the enactment of the Islamic banks.
The بالصيرفة intended as Islamic banking system or activity compatible with Islamic law. Where the interest paid by banks on deposits or loan you take intervention in the governance of usury, which is one of the major sins.

Has been the establishment of the first Islamic bank in Dubai early seventies of the last century, and established many of the then Islamic banks, which amounted to about 100 in the bank all over the world and the most famous Faisal Islamic Bank and Dubai Islamic Bank.

For his part, the financial expert Hilal Taan: The Ministry of Finance is going to expand the work banks dealing بالصيرفة of the Islamic due to its success in attracting large numbers of citizens who may not want to deal with banks that charge interest on loans.

He pointed out in his speech (of the Agency news): It outcome from dealing بالصيرفة the Islamic is the low rate of inflation and solving the housing crisis.

He praised: step to open a branch in the Rasheed Bank to deal in accordance with Islamic law because of the benefit that would accrue to the banks and citizens alike, in addition to widening the citizen's ability to invest.

Citizens expressed their Trehém the opening of branches of banks that deal in accordance with Islamic Sharia in the financing of loans to citizens and specifically with respect to the purchase of homes because of a housing crisis and clear in Iraq.

It is worth mentioning that Iraq has witnessed the entry of Islamic banks since 1992. / End / 8.'s. M /

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