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Skinner explains the reasons for the establishment of an Islamic Bank on behalf of the Islamic Bank of rivers
Thursday, April 5 / April 2012 10:36
[Baghdad - where]
Said government spokesman Ali al-Dabbagh Cabinet decision to approve a bill which is created as an Islamic bank Islamic Bank of rivers with a capital of [25] billion dinars.
Dabbagh said in a statement received by all of Iraq [where] a copy of "Council of Ministers decided at its fourteenth regular session last Tuesday, April 3, 2012, to approve the draft law on Bank of Mesopotamia Islamic auditor by the State Council and submitted to the House of Representatives According to the provisions of articles [61 / item first, and 80 / II of the Constitution, taking into consideration the notes of the Legal Department of the Secretariat of the Council of Ministers. "
He pointed out that "the approval of the bill Bank Mesopotamia Islamic comes the interest of the Iraqi government on the expansion of economic activity and work to increase the size of Islamic banking to the desire of a large segment of citizens in access to banking services approval of Islamic law and which are consistent with the provisions of the Constitution, this will be the bank source of attraction for investors who fear the Islamists to deal with other banks because of the benefits and some banking transactions. "
Dabbagh said that "the Ministry of Finance has requested in the February 12, 2012 view the bill Bank of rivers of the Islamic Council of Ministers for approval and forwarded to the House of Representatives as the article [35] of the budget law for 2011 has provided for the establishment of an Islamic bank by the Ministry of Finance the federal capital of [25] billion dinars, and submit the draft law of incorporation to the Cabinet and the House of Representatives by June 1, 2012, as well as article [28] of the budget law for the year 2012 has committed to provide the bill before June 1, 2012. "
He continued that "the bank will be managed by the employee entitled General Manager holds a university degree, at least initially, and with experience in banking and the Board of Directors and the correlation Bank, Ministry of Finance directly and has opened branches inside and outside Iraq, with the consent of the Iraqi Central Bank The formations of the bank and its functions we specify bylaws proposed by the Board of Directors of the Bank and issued by the Minister of Finance. "
He concluded Dabbagh his statement by saying that "the Bank of the Sharia Supervisory Board is composed of four members with experience and competence in Islamic Jurisprudence and its Principles The method of their choice and determine the reward are set by the rules of procedure as are issued the annual report on the extent of the commitment of the bank formats legitimacy and is subject to all the staff of the bank to the provisions of the Service Civil No. [24] for the year 1960 and the law of discipline of state employees and the public sector number [14] for the year 1991 and the Unified Retirement Law No. [27] for the year 2006. " Ended.
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Thursday, April 5 / April 2012 10:36
[Baghdad - where]
Said government spokesman Ali al-Dabbagh Cabinet decision to approve a bill which is created as an Islamic bank Islamic Bank of rivers with a capital of [25] billion dinars.
Dabbagh said in a statement received by all of Iraq [where] a copy of "Council of Ministers decided at its fourteenth regular session last Tuesday, April 3, 2012, to approve the draft law on Bank of Mesopotamia Islamic auditor by the State Council and submitted to the House of Representatives According to the provisions of articles [61 / item first, and 80 / II of the Constitution, taking into consideration the notes of the Legal Department of the Secretariat of the Council of Ministers. "
He pointed out that "the approval of the bill Bank Mesopotamia Islamic comes the interest of the Iraqi government on the expansion of economic activity and work to increase the size of Islamic banking to the desire of a large segment of citizens in access to banking services approval of Islamic law and which are consistent with the provisions of the Constitution, this will be the bank source of attraction for investors who fear the Islamists to deal with other banks because of the benefits and some banking transactions. "
Dabbagh said that "the Ministry of Finance has requested in the February 12, 2012 view the bill Bank of rivers of the Islamic Council of Ministers for approval and forwarded to the House of Representatives as the article [35] of the budget law for 2011 has provided for the establishment of an Islamic bank by the Ministry of Finance the federal capital of [25] billion dinars, and submit the draft law of incorporation to the Cabinet and the House of Representatives by June 1, 2012, as well as article [28] of the budget law for the year 2012 has committed to provide the bill before June 1, 2012. "
He continued that "the bank will be managed by the employee entitled General Manager holds a university degree, at least initially, and with experience in banking and the Board of Directors and the correlation Bank, Ministry of Finance directly and has opened branches inside and outside Iraq, with the consent of the Iraqi Central Bank The formations of the bank and its functions we specify bylaws proposed by the Board of Directors of the Bank and issued by the Minister of Finance. "
He concluded Dabbagh his statement by saying that "the Bank of the Sharia Supervisory Board is composed of four members with experience and competence in Islamic Jurisprudence and its Principles The method of their choice and determine the reward are set by the rules of procedure as are issued the annual report on the extent of the commitment of the bank formats legitimacy and is subject to all the staff of the bank to the provisions of the Service Civil No. [24] for the year 1960 and the law of discipline of state employees and the public sector number [14] for the year 1991 and the Unified Retirement Law No. [27] for the year 2006. " Ended.
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