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IMF: Islamic banks access to small businesses and do not have bank accounts
Saturday, February 21 /
Dubai, United Arab Emirates ( CNN ) - a study issued by the International Monetary Fund, said that Islamic banks need to make adjustments in the structure of its work to improve its ability to reach consumers, pointing to the need to link their products to the segment of the population that do not currently own bank accounts, to by small and medium-sized companies.
The study of the Fund reported that the significant growth of Islamic banks have not positively reflected on the level of the delivery of products to companies and individuals who do not have bank accounts, calling for those banks to focus on the activity of small and medium-sized companies and interest to buy shares and shares in private companies and to engage in financing initiatives.
Draws study that some Islamic banks have already started to go to the states with large numbers of Muslim population who lack banking such as Kenya and Iraq services, but calls contrast to further amendments to the modus operandi of Islamic banks to be able to attract more depositors.
The study included 57 Member State Council of Islamic Cooperation, saying that the residents of those states showed "the highest levels of others" at the level of interest in religious motives during determine their willingness to open bank accounts.
The research was presented issued by the IMF three solutions to address these problems in the functioning of Islamic banks, including the improvement of the business model and attention to small and medium-sized enterprises, including the possibility of establishing a special units in addition to working on the development of existing laws and legislation.
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Saturday, February 21 /
Dubai, United Arab Emirates ( CNN ) - a study issued by the International Monetary Fund, said that Islamic banks need to make adjustments in the structure of its work to improve its ability to reach consumers, pointing to the need to link their products to the segment of the population that do not currently own bank accounts, to by small and medium-sized companies.
The study of the Fund reported that the significant growth of Islamic banks have not positively reflected on the level of the delivery of products to companies and individuals who do not have bank accounts, calling for those banks to focus on the activity of small and medium-sized companies and interest to buy shares and shares in private companies and to engage in financing initiatives.
Draws study that some Islamic banks have already started to go to the states with large numbers of Muslim population who lack banking such as Kenya and Iraq services, but calls contrast to further amendments to the modus operandi of Islamic banks to be able to attract more depositors.
The study included 57 Member State Council of Islamic Cooperation, saying that the residents of those states showed "the highest levels of others" at the level of interest in religious motives during determine their willingness to open bank accounts.
The research was presented issued by the IMF three solutions to address these problems in the functioning of Islamic banks, including the improvement of the business model and attention to small and medium-sized enterprises, including the possibility of establishing a special units in addition to working on the development of existing laws and legislation.
[You must be registered and logged in to see this link.]
