This is on the Islamic Banking Act

Economic parliamentary: the establishment of new banks will increase from investment activities

06/07/2015 12:11

Tomorrow Press / Baghdad: The Commission on Economy and Investment parliamentary, Monday, that the establishment of new banks will increase the investment activities in Iraq, noting that the government would give anyone who wants to leave the establishment of an Islamic bank.

She said a member of the economic and investment commission in Parliament, Najiba Najib, for "tomorrow Press," that "the increase of banks in the country will help to increase large-scale projects and to reassure citizens on its deposits in banks," indicating that "the House of Representatives in the process of legislation of the Islamic Banking Act because of the importance of the presence of so banks working in the Iraqi banking sector. "

She added that "Islamic Banking Act enables the government to grant leave to anyone who wants the establishment of special provisions and instructions of the Islamic bank."

The House of Representatives and was completed on Saturday during its second reading of the draft Islamic Banking Act. "

Finance Committee in the House and announced the arrival of Project Islamic Banking Act to Alcil, while confirming its agreement with the Central Bank to allocate $ 25 billion dinars for the advancement of Islamic banks after the enactment of the law. "


http://alghadpress.com/ar/news/33327/الاقتصادية-النيابية-تأسيس-مصارف-جدي

Calls for the enactment of Islamic banking

06/07/2015 13:29

Tomorrow Press / Baghdad: Islamic banks and called on experts in the financial sector, on Monday, to the need for legislation Islamic banking law, especially after it has achieved great success funded many investment projects within the country.

Said managing director of the Islamic Bank country Iyad al-Bayati, for "tomorrow Press," that "Islamic banks and since the early stages of its work in Iraq after 2004 began to keep pace with the developments witnessed by the world in this field," noting that "Islamic banks in Iraq has been able to raise capital their money into possible that the commercial banks not only in Iraq, but even in the countries in the region compete "levels.

He said al-Bayati said "the work of Islamic banks can not be promoted unless there is no facility from the Central Bank of Iraq, as well as a law that regulates rely on it," pointing out that "the success of Islamic banks lies in the assets supporting the balances work."

For his part, he noted expert in banking affairs supporter compassionate for "tomorrow Press," that "there is the expansion of banking Islamic in the world and regional area and are striking, especially as more than 600 bank worldwide branches scattered in most of the cities with assets of more than ( 3) check trillion annual growth rate exceeding 30 percent of the market share of the banking business. "

He explained that the compassionate "Islamic finance operations have become the focus of attention of many peoples of the world," stressing that "the Central Bank of Iraq and the House of Representatives seeking to enact a law regulating Islamic banking work and makes it a real partner in the Iraqi banking sector."

The banking system in Iraq is made up of 54 banks, as well as the Central Bank and distributed by property between (7) state banks and 23 commercial banks, including special (9) Islamic banks in addition to the 15 branches of foreign banks.


http://alghadpress.com/ar/news/33342/دعوات-لتشريع-قانون-للصيرفة-الاسلامي