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Islamic banks impose itself on the financial arena and raises its competitors puzzled trading
11-05-2013 09:01 AM
Baghdad (news) .. Islamic banks and imposed their presence in the Iraqi financial arena, what astonishment of other banks being granted privileges other banks almost miss her even though convergence Heads funds and staff competencies such as freedom deposits and investment.
The Managing Director of the Al Huda Investment Bank Hussein Al Shammari (of the Agency news): There is no law Mali government regulates the work of Islamic banks, so it raised a lot of questions about how to bring heads money and how to deal with it.
He explained: that the State Council initiated a draft law to regulate the mechanism of action of Islamic banks, those legal studies is still under consideration pending a decision yet.
He explained: that Islamic banks currently operate according to Islamic law which prohibits certain types of mechanisms used in other banks, in line with Sharia.
As said managing director of Union Bank of Aqeel المفتن: can not say for sure that Islamic banks operate in varying outweigh the commercial banks, for Anha newly established in Iraq, and the heads of its properties can not be up to the recapitalization of commercial banks initiated work since 1994 and this is something unreasonable.
He explained: that commercial banks can not deny the existence of a successful Islamic banks in the banking business, as evidenced by some commercial banks began to open windows in Islamic banks meet the desire of its customers.
He continued المفتن: that which governs the success of the work of private banks, whether commercial or Islamic is the size of the profits and the volume of deposits and compare it with other banks, explaining that Maysgel of profit is what proves the success of any bank.
Islamic banks, for its part, acknowledged that there is no law regulating the work is waiting for the appropriate legislation, an advocate for the work provided by the policy for the sector of the economy in Iraq who possible that يطوره and supported.
Accordingly said the managing director of the Bank of the country's Islamic Hana al-Khafaji (of the Agency news): There are instructions issued in 2011 to support the Islamic banks and is now in possession of the State Council, noting that this amendment is not enough to where it should be no special legislation بالصيرفة Islamic being different from commercial banking in terms of handling and filing method, clouds and even the implementation of the projects supported by the Islamic Bank in general.
It continued: that a lot of Islamic banks supported infrastructure projects for various sectors in Iraq.
Khafaji confirmed: that some Islamic banks in the process of agreement on the implementation of the project benefit the national economy as a whole and not the banking sector, a project 'Islamist instruments'.
It showed: that the banks want to draw the attention of the Central Bank and Ministry of Finance to assist in the implementation of the project.
Islamic banks operate like other banks to provide the community with the resources it needs are different, but particularly in a legitimate manner in order to raise critical for customers who want to deal with the banks according to the principles of Islamic Sharia.
The Iraqi Central Bank revealed in February that he would give a number of licenses to establish private banks, particularly Islamic ones, stressing that the increase in the banks will strengthen its economic role in the country. / End / 3. D. O /
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11-05-2013 09:01 AM
Baghdad (news) .. Islamic banks and imposed their presence in the Iraqi financial arena, what astonishment of other banks being granted privileges other banks almost miss her even though convergence Heads funds and staff competencies such as freedom deposits and investment.
The Managing Director of the Al Huda Investment Bank Hussein Al Shammari (of the Agency news): There is no law Mali government regulates the work of Islamic banks, so it raised a lot of questions about how to bring heads money and how to deal with it.
He explained: that the State Council initiated a draft law to regulate the mechanism of action of Islamic banks, those legal studies is still under consideration pending a decision yet.
He explained: that Islamic banks currently operate according to Islamic law which prohibits certain types of mechanisms used in other banks, in line with Sharia.
As said managing director of Union Bank of Aqeel المفتن: can not say for sure that Islamic banks operate in varying outweigh the commercial banks, for Anha newly established in Iraq, and the heads of its properties can not be up to the recapitalization of commercial banks initiated work since 1994 and this is something unreasonable.
He explained: that commercial banks can not deny the existence of a successful Islamic banks in the banking business, as evidenced by some commercial banks began to open windows in Islamic banks meet the desire of its customers.
He continued المفتن: that which governs the success of the work of private banks, whether commercial or Islamic is the size of the profits and the volume of deposits and compare it with other banks, explaining that Maysgel of profit is what proves the success of any bank.
Islamic banks, for its part, acknowledged that there is no law regulating the work is waiting for the appropriate legislation, an advocate for the work provided by the policy for the sector of the economy in Iraq who possible that يطوره and supported.
Accordingly said the managing director of the Bank of the country's Islamic Hana al-Khafaji (of the Agency news): There are instructions issued in 2011 to support the Islamic banks and is now in possession of the State Council, noting that this amendment is not enough to where it should be no special legislation بالصيرفة Islamic being different from commercial banking in terms of handling and filing method, clouds and even the implementation of the projects supported by the Islamic Bank in general.
It continued: that a lot of Islamic banks supported infrastructure projects for various sectors in Iraq.
Khafaji confirmed: that some Islamic banks in the process of agreement on the implementation of the project benefit the national economy as a whole and not the banking sector, a project 'Islamist instruments'.
It showed: that the banks want to draw the attention of the Central Bank and Ministry of Finance to assist in the implementation of the project.
Islamic banks operate like other banks to provide the community with the resources it needs are different, but particularly in a legitimate manner in order to raise critical for customers who want to deal with the banks according to the principles of Islamic Sharia.
The Iraqi Central Bank revealed in February that he would give a number of licenses to establish private banks, particularly Islamic ones, stressing that the increase in the banks will strengthen its economic role in the country. / End / 3. D. O /
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