Islamic banks are looking for investment opportunities in the nearby Forum

Admin Tue Jun 17, 2014 5:56 pm

6/18/2014 0:00

Mundhiri: excess liquidity from the need

BAGHDAD - morning

The Ministry of Finance plans to organize an investment forum sponsored by the Islamic banks in Iraq through the window of the Islamic Bank of Mesopotamia.

The general director of the Islamic Bank of Mesopotamia Abdul Hussein Mundhiri "morning" now taking place extensive preparations for the formation of the Preparatory Committee and to prepare for this important event, which is a new start for the role of Islamic banks in development.

Mundhiri pointed to a very important issue related to the exploitation of investment opportunities available in the National Investment Commission and in the bodies of the provinces, thanks to the diversification of the projects listed and the country needs, especially in the sectors of housing, energy, and other services.

He stressed that the Islamic banks have a lot of liquidity and excess are looking for investment opportunities to operate in accordance with the formulas through murabaha financing Islamic investment and participation and Istisna'a and others.

But Mundhiri not lose sight of the challenges facing hinder strongly enter into investment sectors prompted the Bank of rivers that called for the establishment of this forum to discuss ways to overcome these obstacles and which include poor coordination between Islamic banks and the need for special legislation Islamic banking as well as poor coordination between banks and bodies investment itself.

He pointed out that this forum has invited all government agencies and the private sector on investment in order to identify ways to invest this money to revive the economy
It should be noted that Islamic finance has achieved great success in more than 80 countries, Muslim and non-Muslim in the field of investment finance to productive sectors and service.

About Investment Forum and the first Islamic finance

Trending Islamic banks in Iraq to exploit the investment opportunities available in the National Investment Commission, or in the provincial councils of different types and sizes due to the diversity of the projects listed and broken with these bodies needed in the market in the sectors of housing, energy, and other services and with Islamic banks liquidity surplus is currently looking for investment opportunities to operate according to the formulas Islamic financing and investment analyst religiously through murabaha, participation and Istisna'a and peace, and others.

But what hinders access to strongly investment sectors is poor coordination between Islamic banks on the one hand and with the same investment bodies on the other. Reason to hold a forum Islamic investment and financing Iraqi first nearest opportunity and that called her all government and private agencies concerned with investment and funding, including the advisers in the prime minister and the National Authority for Investment and Islamic banks Iraqi Ministry of Finance and the Association of Banks and the Central Bank and commercial banks, other governmental and private media that progress in this forum different worksheets of those invited to the conference and form committees of specialists Islamic banking to formulate appropriate recommendations to the importance of the event and the importance of the role of Islamic finance in the rehabilitation sector of the economy, industry, agriculture and trade, especially since Islamic finance tomorrow and the way to attract funds local and foreign investors because of its advantage of moving in most sectors of investment and has taken the laws and legislation and doctrinal references and accounting in more than 80 countries and non-Muslim Islamic.

We have a lot of talk and proposals to put it in this forum, which has become a matter of urgency and the desire of the strategy to improve the economic reality of the country.

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