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Islamic banks in the process of growth .. pending law
5/26/2015 0:00
And an effective means for the sustainability of its instruments
Baghdad, Hussein Tgb
said Central Bank Governor Dr. Ali Keywords that a large trend adopted by the Iraqi Central Bank to support and stimulate Islamic banking activities of the country because of the successes achieved by the Islamic banks in the pan over the world.
Keywords and said in answering a question (morning ) on the assessment of the level of performance of these local banks, mostly private: that the central bank totally uninterested and facilitates the establishment of a process and the spread of this type of banking, which affect high acceptability of the conservative and unwilling audience to deal with riba-based banks or commercial.
The central and at the request of this vast amount of added who are interested in dealing with this type of banking seeks to follow the Islamic banking law that was ratified by the Council of Ministers and is now on the Parliament table in order to read it and passed calling for the importance of expediting this to be able to catch up with the Islamic banking in the world and the evolution of their products, which called for most European universal banks and other to quote many parts of the steps.
He said that this success invites us and motivates us to support the establishment and expansion of such banks, pointing to the government to establish an Islamic state bank which {Islamic Bank Mesopotamia} along with more than 31 banks a special institution in Iraq working commercial banks laws But it differs in pursuing Islamic measures were consolidated and collected in the anticipated law enacted.
He Keywords that Islamic banking market promising and digital indicators reflect the successes achieved even at the local level are important indicators must make use of them.
And the reality of Islamic Sukuk Chairman Association of Banks said Islamic in Iraq Dr. Sadeq al-Shammari: The idea came to solve the problem in front of Islamic banks in order to enter in investing in these instruments (title deeds) which bear the losses and profits instead of traditional debt securities bonds and Treasury money market funds and others.
He said Shammari it needs constant species income liquid and easy trading within their balance sheets and for the regulators as instruments investment tool as it provides a real opportunity and represents investors fundamental and vital and essential alternative to debt securities, pointing out that these instruments will be an attractive alternative for companies that need money with reluctance many who want to capital their investments would be acceptable legally and those who stayed away from investing in debt securities and debt, to the quality of interest and trading in debt and we mean selling religion to religion.
and between Shammari said the terms of these instruments provide owned assets to those constituent be able to generate income on a regular and ongoing basis, also should have the assets to be Tskeckha attractive for the investor and this requires the presence of creditworthy in assets Kantzam repayment guarantees in kind.
The Regional Director of the Abu Dhabi Islamic Bank Mona Fahmy Yassin indicated that Islamic banking has evolved significantly over the past ten years and formed a powerful tool to invest where funded large investment projects.
She stressed the importance issuing banking law Islamic, which regulates the work of Islamic banks in Iraq, especially as the Central Bank of Iraq recognizes the importance of Islamic banking and became interested by the Islamic instruments and understands its role in the economic development sought by Iraq.
She drew Yassin to that the reality of the Islamic banks in Iraq in the growth phase and needs to be developed All joints and multiple banking products and be able to compete with Islamic banks in the region, pointing to the importance that there be financial market between banks.
She noted that the Islamic banks in constant evolution in most regions of the world, and that Iraq and promising market for Islamic banking to the presence of a lot of citizens who wish to to deal with Islamic banks.
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5/26/2015 0:00
And an effective means for the sustainability of its instruments
Baghdad, Hussein Tgb
said Central Bank Governor Dr. Ali Keywords that a large trend adopted by the Iraqi Central Bank to support and stimulate Islamic banking activities of the country because of the successes achieved by the Islamic banks in the pan over the world.
Keywords and said in answering a question (morning ) on the assessment of the level of performance of these local banks, mostly private: that the central bank totally uninterested and facilitates the establishment of a process and the spread of this type of banking, which affect high acceptability of the conservative and unwilling audience to deal with riba-based banks or commercial.
The central and at the request of this vast amount of added who are interested in dealing with this type of banking seeks to follow the Islamic banking law that was ratified by the Council of Ministers and is now on the Parliament table in order to read it and passed calling for the importance of expediting this to be able to catch up with the Islamic banking in the world and the evolution of their products, which called for most European universal banks and other to quote many parts of the steps.
He said that this success invites us and motivates us to support the establishment and expansion of such banks, pointing to the government to establish an Islamic state bank which {Islamic Bank Mesopotamia} along with more than 31 banks a special institution in Iraq working commercial banks laws But it differs in pursuing Islamic measures were consolidated and collected in the anticipated law enacted.
He Keywords that Islamic banking market promising and digital indicators reflect the successes achieved even at the local level are important indicators must make use of them.
And the reality of Islamic Sukuk Chairman Association of Banks said Islamic in Iraq Dr. Sadeq al-Shammari: The idea came to solve the problem in front of Islamic banks in order to enter in investing in these instruments (title deeds) which bear the losses and profits instead of traditional debt securities bonds and Treasury money market funds and others.
He said Shammari it needs constant species income liquid and easy trading within their balance sheets and for the regulators as instruments investment tool as it provides a real opportunity and represents investors fundamental and vital and essential alternative to debt securities, pointing out that these instruments will be an attractive alternative for companies that need money with reluctance many who want to capital their investments would be acceptable legally and those who stayed away from investing in debt securities and debt, to the quality of interest and trading in debt and we mean selling religion to religion.
and between Shammari said the terms of these instruments provide owned assets to those constituent be able to generate income on a regular and ongoing basis, also should have the assets to be Tskeckha attractive for the investor and this requires the presence of creditworthy in assets Kantzam repayment guarantees in kind.
The Regional Director of the Abu Dhabi Islamic Bank Mona Fahmy Yassin indicated that Islamic banking has evolved significantly over the past ten years and formed a powerful tool to invest where funded large investment projects.
She stressed the importance issuing banking law Islamic, which regulates the work of Islamic banks in Iraq, especially as the Central Bank of Iraq recognizes the importance of Islamic banking and became interested by the Islamic instruments and understands its role in the economic development sought by Iraq.
She drew Yassin to that the reality of the Islamic banks in Iraq in the growth phase and needs to be developed All joints and multiple banking products and be able to compete with Islamic banks in the region, pointing to the importance that there be financial market between banks.
She noted that the Islamic banks in constant evolution in most regions of the world, and that Iraq and promising market for Islamic banking to the presence of a lot of citizens who wish to to deal with Islamic banks.
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