Rasheed Bank proceed with the work of Islamic banking with citizens

01/08/2013



BAGHDAD / JD / .. A source in the Islamic asset Branch Bank rational direct the work of Islamic banking branch and start trading with the citizens.

The source told / JD /: branch activities include the purchase of houses and cars for citizens, within the contexts of Islamic law, which adopt the principle of Murabaha in this area.

He explained: that the bank is mediating in buying houses to citizens in a way installment for 10 years, after it has been agreed with the seller and determine the price through a committee formed in the bank for this purpose, noting: that the house remains back to the bank until the payment of the last installment. And a mechanism to buy cars for citizens.

Source: Bank select controls to buy cars, saloons and taxis, is asking the customer who wants to buy the car Bkival guarantor to be a government employee, as well as the payment of 15% of the value of the car to be paid in advance to the bank directly.

He added: that the experience of Islamic banking government, new in Iraq, and implemented for the first time banking and financial respond to the wishes of a lot of dealers in the financial sector who aspire to deal with banks subject to controls legitimacy, pointing to send a number of staff in the training course to Jordan in this regard .

The Rasheed Bank announced the opening of a branch of Islamic assets in Wathba Square in Baghdad, one of the three branches opened by the bank in Baghdad, Basra and Najaf within the Plan of Action Islamic popups.

Referred to the mechanisms of action of these windows will depend on the Islamic banking system depends Islamic law, does not depend comprehensive banking method adopted in the banking industry. / End / / 22

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