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Financial demands of parliamentary government to expedite the establishment of the Islamic bank
On: Sun 29/04/2012 7:34
Baghdad / term
of the Finance Committee requested parliamentary government attempted to establish an Islamic bank to support a government project to develop State-owned banks. The government unveiled on 2 July that it had decided to establish an Islamic government bank supervised by the Central Bank of Iraq and administratively linked to the Ministry of Finance.
Said committee member Najiba Najib, according to (Rn) that the Finance Committee in the House of Representatives supports the approach the government about the development of Islamic bank, a government characterized by transactions modern banking and is based on the grounds away from the administrative bureaucracy. She added that the establishment of an Islamic bank government will open a new way to deposit money in banks, government , as well as supporting investment with the Arab and Muslim countries. "and noted that there is a need to speed up the Ministry of Finance in the establishment of Islamic banks, to contribute to the expansion of trading bank." and select the Central Bank of 250 billion dinars at a minimum to establish private banks in the country, while Iraq is in At present the rehabilitation of the Rafidain and Rasheed in coordination with the World Bank. Economists believe that the private banks do not have the necessary tools for the advancement of monetary and economic reality in the country, despite the legislation that the House of Representatives its first session the Banking Act to regulate the work of private banks and government.
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