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IMF: opportunities for Islamic banks
4/8/15
Islamic finance holds opportunities are very promising and is able to benefit residents of Muslim countries.
BAGHDAD / Obelisk: A study issued by the International Monetary Fund that the Islamic finance holds opportunities are very promising and is able to benefit the population of Islamic countries who are still outside the banking process, but stressed that utilize true that funding will not be until after the dam group of gaps.
Said Christopher Tao, deputy director of the Monetary Department and capital markets in the IMF, said the study indicate very promising Islamic finance offers a great opportunity to develop the capacity of the population of Islamic countries who are unable or unwilling to participate in the traditional banks to access banking services and enter the banking sector.
Tao said that one of the significant benefits of Islamic finance funds directed toward infrastructure and small and medium companies and the nature of the document to the real assets, including reducing the risk of the risks of Islamic finance.
Tao pointed out that the full benefit of the Islamic banking entrusted to several conditions, including the amendment of laws commensurate with the work of Islamic banks, in addition to the obligation of those banks, for its part legality standards, in addition to the call to amend the banking safety laws that provide protection for banks to suit the nature of the work Islamic banks.
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