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The Center for Banking Studies holds its first annual conference
December 20, 2023
Today, Wednesday, the Center for Banking Studies at the Central Bank of Iraq organized its first annual conference, which carried the slogan “Sovereign Sukuks as a Tool for Financing Economic Development Projects,” with local and Arab participation.
In its three sessions, the conference discussed the importance of sukuks as one of the tools for economic development and their legal aspects, as well as the practical steps for issuing sukuks, hosting the most prominent officials and experts in the Iraqi and Arab banking sector.
The conference was opened with a speech delivered by the Deputy Governor of the Central Bank of Iraq, Dr. Ammar Hamad Khalaf, on behalf of His Excellency the Governor, in which
he pointed out the importance of the topic that was chosen for this conference, which coincided with the presentation of the draft Islamic Sukuk Law to the Iraqi Council of Representatives two weeks ago, reviewing the center’s role and importance. In developing workers in the Iraqi banking sector.
The participants praised the role of the Central Bank of Iraq in holding this event because of its role in expanding the areas of financing and investment in accordance with the modern Islamic formulation.
The conference concluded with a set of recommendations that emerged from the participating papers.
Central Bank of Iraq
information Office
20 - December - 2023
https://cbi.iq/news/view/2489
[ What Is a Sukuk? Sharia-Compliant Bond-Like Financial Instruments
By Akhilesh Ganti
Updated May 13, 2022
Investopedia / Ellen Lindner
What Is a Sukuk?
A sukuk is an Islamic financial certificate, similar to a bond in Western finance, that complies with Islamic religious law commonly known as Sharia. Since the traditional Western interest-paying bond structure is not permissible, the issuer of a sukuk essentially sells an investor group a certificate, and then uses the proceeds to purchase an asset that the investor group has direct partial ownership interest in. The issuer must also make a contractual promise to buy back the bond at a future date at par value.1
https://www.investopedia.com/terms/s/sukuk.asp ]
December 20, 2023
Today, Wednesday, the Center for Banking Studies at the Central Bank of Iraq organized its first annual conference, which carried the slogan “Sovereign Sukuks as a Tool for Financing Economic Development Projects,” with local and Arab participation.
In its three sessions, the conference discussed the importance of sukuks as one of the tools for economic development and their legal aspects, as well as the practical steps for issuing sukuks, hosting the most prominent officials and experts in the Iraqi and Arab banking sector.
The conference was opened with a speech delivered by the Deputy Governor of the Central Bank of Iraq, Dr. Ammar Hamad Khalaf, on behalf of His Excellency the Governor, in which
he pointed out the importance of the topic that was chosen for this conference, which coincided with the presentation of the draft Islamic Sukuk Law to the Iraqi Council of Representatives two weeks ago, reviewing the center’s role and importance. In developing workers in the Iraqi banking sector.
The participants praised the role of the Central Bank of Iraq in holding this event because of its role in expanding the areas of financing and investment in accordance with the modern Islamic formulation.
The conference concluded with a set of recommendations that emerged from the participating papers.
Central Bank of Iraq
information Office
20 - December - 2023
https://cbi.iq/news/view/2489
[ What Is a Sukuk? Sharia-Compliant Bond-Like Financial Instruments
By Akhilesh Ganti
Updated May 13, 2022
Investopedia / Ellen Lindner
What Is a Sukuk?
A sukuk is an Islamic financial certificate, similar to a bond in Western finance, that complies with Islamic religious law commonly known as Sharia. Since the traditional Western interest-paying bond structure is not permissible, the issuer of a sukuk essentially sells an investor group a certificate, and then uses the proceeds to purchase an asset that the investor group has direct partial ownership interest in. The issuer must also make a contractual promise to buy back the bond at a future date at par value.1
https://www.investopedia.com/terms/s/sukuk.asp ]
