The government is preparing for the opening of the first Islamic bank with a capital of more than 130 billion dinars, the center of economic debate

09/28/2015 11:04



Long-Presse / Baghdad

A source in the Ministry of Finance, on Monday, the government's efforts for the opening of the first Islamic bank in Iraq a multi-branch, and as he emphasized that the new bank will have a capital of more than 130 billion dinars, the effects of open debate among legal experts and how they impact on the current situation of the Iraqi economy.

A senior source in the Ministry of Finance in an interview with the (long-Presse), "The ministry has completed preparations for the opening of the first Islamic bank a government in Iraq after receiving official approvals from the relevant authorities for the purpose of direct action which according to Islamic law," noting that "it is hoped the opening of the bank during the next two months. "

The source, who asked not to be named, said: "Capital expected the bank would be between 130-150 billion dinars, and will have five branches, three in Baghdad and one in Najaf and another in the province of Basra," pointing out that "the five branches has configured Full aspects of logistics and electronic possibilities and even the staff. "

The source added that "the bank will be limited to his work on Islamic Banking and also the granting of loans for the purpose of Murabaha real estate, cars and goods and to support small and medium enterprises in accordance with Islamic mechanism having been FAQ put through the consent of the legitimate Supervisory Board and Seko Nscherak Islamic banks operating in Iraq and supporting her."

For his part, counting the banking and academic expert Khaled peace profession government's decision to "open an Islamic bank continued her that he would be a burden on the government by the banking sector in particular and the sector of private banks in general."

The profession in an interview with the (long-Presse), that "the government banks able to open windows for Islamic banking because it has the potential and the ability to do banking practices, can not be for the government to open Islamic banks of its own because it will be a big burden them."

He continued a career that "the Central Bank of Iraq and the testimony maintain relationships, he is stressed more than once that in collaboration with the Ministry of Finance is seeking to restructure the largest banks government and two Rafidain and Rasheed result of the subject of its laws and mechanisms to prevent the development and support of the banking sector."

For his part, Managing Director of the Islamic Bank for Investment Sadiq al-Shammari, said that "the opening of Islamic banks in Iraq will develop the banking sector due to its content of physical, electronic possibilities as well as supporting the confidence of depositors."

He said Shammari in an interview with the (long-Presse), 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 their capital to possible levels that the commercial banks compete not only in Iraq, but even in the countries of the region. "

Shammari stressed that "the work of Islamic banks can not be promoted unless there are no facilities of the Iraqi Central Bank Law and also rely on it, pointing out that the success of Islamic banks lies in the assets supporting the balances work."

Shammari pointed to "the existence of the Islamic worldwide regional and area expansion of banking and is striking, especially since more than 600 bank worldwide branches scattered in most of the cities with assets of more than $ 3 trillion has annual growth rate in excess of 30% of the market share the banking business, "adding that" Islamic finance operations have become the focus of attention of many of the peoples of the world. "

http://www.almadapress.com/ar/news/56541/الحكومة-تستعد-لافتتاح-أول-مصرف-إسلا

Director General of the Islamic Bank for dinars Mesopotamia: Bank loans will reach 100 million dinars


09/29/2015




BAGHDAD / Jassim al-Tai / .. revealed Director General of Mesopotamia Islamic Bank Ministry of Finance's Mundhiri Abdul-Hussein said Iraq will be opened on the first of next month, the first Islamic bank in Alarac.makda government that the bank loans will be given to the owners of the projects will reach 100 million dinars.

Mundhiri said in a statement singled out by the agency / JD / economic that the Ministry of Finance will open on the first of next month, the first Islamic bank in Alarac.mbana government that the bank obtained all regulatory approvals for the purpose of direct action which according to Islamic law.

He Mundhiri that Mesopotamia Islamic Bank completed the incorporation requirements that were required by the Central Bank of Iraq was getting the chance 8/17/2015 work and this date the start of the bank to complete its preparations Alojstah to start work was completed construction of the main branch of the bank at the headquarters of the bank and the completion of the redeployment of staff as well from the merger of the windows of Islamic found in a bank Rafidain and Rasheed, which passed within Article 25 of the financial budget for the year 2015 statement that involves opening five Islamic branches at a rate of three branches in the Rasheed Bank, the first in the dash area of ​​Baghdad and the second in the province of Najaf and the third in the province of Basra while featuring a sub First Rafidain Bank in Jihad district of Baghdad and the second in the area of ​​Fallujah in Anbar province stalled work as a result of military operations.

Mundhiri He said it was merging the five branches with the heads of their money, raising the head of the Islamic Mesopotamia bank's capital to 150 billion dinars.

He explained that the bank has initiated all lending instructions were presented to the Sharia Supervisory Board in the bank was approved this special Bmrabhh real estate, cars and goods help with the introduction of Activity New not be found in the former is to support small and medium enterprises in accordance with Islamic mechanism was put instructions on the Sharia Supervisory Board and got approval.

He noted that the bank will enter the Senior Contributor development of the Iraqi economy through financing and investments which characterized the work of the Islamic Bank of Murabaha and posts and Astsnaat multiple kinds of other investment through the issuance of Islamic Sukuk .msheera that can Mesopotamia Islamic Bank by granting loans to small and medium-sized enterprises can enter everyone benefit from the granting of these loans allocated to industrial, agricultural and housing sectors, amounting to five billion by the Central Bank of Iraq.

He said that our bank will enter partner through Murabaha buy or speculation, and that will contribute to solving the problem of unemployment, which currently make up 30% and the poverty rate is about 20%. In the case of the financing of small and medium enterprises will absorb many working hands, which will contribute to reducing poverty and unemployment through the operation of labor.

Stressing that all the official value in the world statistics indicate that small and medium-sized enterprises constitute the run 70% of the workforce in countries powers and that the world's economies are built through the support and operation of these projects the fact that despite the availability of employment opportunities Tstsahm in the provision of goods and services at affordable prices in these projects market and sings the state of the process of imports as well as providing hard currency.

Mundhiri He noted that the bank will begin to receive applications wishing to obtain these loans in the first of next month, according to the agreement with the Ministry of Finance and the Central Bank of Iraq. Stressing that the bank completed all their preparations to work the granting of loans with the participation of the payments system and clearing the electronic system (GPS).

And the categories covered by this loan, Mundhiri stressed that the Islamic Mesopotamia bank services according to his vision would include all Iraqis for two reasons, the first definition of the community on the benefits of Islamic banking is based on investment and profit muslim and away from banking benefits usury forbidden in Islamic law, and secondly to obtain profits by financing projects The funds granted to sectors of society from the staff and the owners of the private sector.

Banking and how interest is calculated between the Islamic Bank Mundhiri rivers do not deal of interest, but by dealing profits

And on identifying the bank of the roof lending Mundhiri confirmed that the bank identified three categories of loans, the first loan select the limit of five million dinars for the project and it needs to ensure that employees, in excess of this amount up to 15 million identified Bkivalin and the duration of the payment of three years with giving three months and exceeded 30 million medium-sized enterprises requires the borrower to bring the drug to ensure that with increasing duration of repayment.

He said the value of the 5 million loans for small businesses, or the 30 million will be given to medium and exceeds this amount will be given to large projects that require the purchase of machines and production lines.

Stressing that the bank will be able to grant loans of up to 100 million dinars.

He denied all the bank to grant loans for the purchase of housing units being will exhaust the money the bank as well as disadvantages to the Iraqi society through its contribution to increase real estate prices Stressing that the bank used alternative to loans by investing residential complexes being the increase of residential units and contribute to the reduction of prices of residential units in Iraq Stressing that the bank will be allocated 25 billion Iraqi dinars for the housing sector within the budget of 2015 in 2016.

Or in the case issued a public instructions from the Islamic instruments during the coming period we will be able to attract big money from the public and small investors and implicated in a residential investment projects in Baghdad and the provinces Stistvid of them low-income owners.

http://dananernews.com/News_Details.php?ID=6184

09/29/2015 (00:01 pm)

Amid controversy Aguetsada..aovernmh preparing for the opening of the first Islamic bank to more than 130 billion dinars


BAGHDAD / long-Presse

A source in the Ministry of Finance, on Monday, the government's efforts to open its first Islamic bank in Iraq a multi-branch, and as he emphasized that the new bank will have a capital of more than 130 billion dinars, raised opened debate among legal experts and how they impact on the current situation of the Iraqi economy.

A senior source in the Ministry of Finance in an interview with the (long-Presse), "The ministry has completed preparations for the opening of the first Islamic bank a government in Iraq after receiving official approvals from the relevant authorities for the purpose of direct action which according to Islamic law," noting that "it is hoped the opening of the bank during the next two months. "

The source, who asked not to be named, said: "Capital expected the bank would be between 130-150 billion dinars, and will have five branches, three in Baghdad and one in Najaf and another in the province of Basra," pointing out that "the five branches has configured Full aspects of logistics and electronic capabilities and even the staff. "

The source added that "the bank will be limited to his work on Islamic Banking and also the granting of loans for the purpose of Murabaha real estate, cars and goods and to support small and medium enterprises in accordance with Islamic mechanism having been FAQ put through approval of the Sharia Supervisory Board and will be a partner for the Islamic banks operating in Iraq and supportive of her."

For his part, counting the banking and academic expert Khaled peace profession government's decision to "open an Islamic bank continued her that he would be a burden on the government by the banking sector in particular and the sector of private banks in general."

The profession in an interview with the (long-Presse), that "the government banks able to open windows for Islamic banking because it has the potential and the ability to do banking practices, can not be for the government to open Islamic banks of its own because it will be a big burden them."

He continued a career that "the Central Bank of Iraq and the testimony maintain relationships, he is stressed more than once that in collaboration with the Ministry of Finance is seeking to restructure the largest banks government and two Rafidain and Rasheed result of the subject of its laws and mechanisms to prevent the development and support of the banking sector."

For his part, Managing Director of the Islamic Bank for Investment Sadiq al-Shammari, said that "the opening of Islamic banks in Iraq will develop the banking sector because of the content of the potential physical, electronic as well as supporting the confidence of depositors."

He said Shammari in an interview with the (long-Presse), 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 their capital to possible levels that the commercial banks compete not only in Iraq, but even in the countries of the region. "

Shammari stressed that "the work of Islamic banks can not be promoted unless there are no facilities of the Iraqi Central Bank Law and also rely on it, pointing out that the success of Islamic banks lies in the assets supporting the balances work."

Shammari pointed to "the existence of the expansion of banking Islamic in the world, and Regional is striking, especially since more than 600 bank worldwide branches scattered in most of the cities with assets of more than $ 3 trillion has annual growth rate in excess of 30% of the market share the banking business, "adding that" Islamic finance operations have become the focus of attention of many of the peoples of the world. "

The Islamic banks, like banks and other classic works to provide the community what it needs from various resources but particularly legitimate manner followed by each bank management in order to raise critical for customers who want to deal with the banks according to the principles of Islamic Sharia.

And it started Islamic banking activities in Iraq since the year (1993) at the founding of the first Islamic bank in Iraq called (Iraq Islamic Bank), while the number of banks that traded Islamic banking system amounted to (9) banks including the external bank and another (Gulf) to open a branch in Iraq.

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, special, including (9) Islamic banks in addition to the 15 branches of foreign banks.

http://www.almadapaper.net/ar/news/496301/وسط-جدل-اقتصاديالحكومة-تستعد-لافتتاح-أول