***** Finance calls for investment organizations to "take advantage" of Islamic banks in the country

06/21/2014 13:38



Long-Presse / Baghdad

Called on the Iraqi Finance Ministry, on Saturday, investment authorities in all the provinces to take advantage of the Islamic banks in the country, and confirmed that these banks have a "flexible legal and financial" in dealing with investment projects, as revealed near the "financial conference," includes expenses Islamic to discuss ways to support those projects for the country's banks.

The agent said the Finance Minister Fadhil Nabi said in an interview to the (long-Presse), "The banks Islamic government and private flexible legal and financial dealing with investment projects which usually face problems in financing by other banks," noting that "after the establishment of the Bank of Mesopotamia Islamic government the end of 2012, which grew out of the bank Rafidain and Rasheed became possible to eat a variety of investment projects in the country through the bank or other Islamic banks. "

The prophet that "Islamic banks liquidity and excess are looking for investment opportunities to operate in accordance with the formulas financing Islamic investment through murabaha, participation and Istisna'a and others," pointing out that "the bodies of the investment could in all governorates of Iraq to take advantage of these opportunities, financial and exploited to serve the citizens in housing, energy, services, tourism and education and health. "


He prophet that "the ministry is considering holding a conference of Islamic banks operating in Iraq under the auspices of the Bank of the rivers of the Islamic government in the presence of dignitaries financial and economic local, Arab and international to discuss and consult on how to exploit investment opportunities in Iraq and ways to support," explaining that "it is hoped that the conference will be held during the two months the next two. "

The Islamic banks, like banks, other classical works to provide the community with the resources he requires a different style but followed all legitimate special management bank in order to raise critical for customers who want to deal with the banks by the principles of Islamic law

The central bank of Iraq in the month of February 2013 that he would give the number of licenses to establish private banks, particularly Islamic ones, stressing that the increase in banks will enhance their economic role in the country.


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