The Central Bank decides to establish 6 Islamic banks by merging 17 financial transfer companies

The Central Bank of Iraq has decided to establish 6 Islamic banks after the merger of 17 financial transfer companies.

A document issued by the Central Bank addressed to the financial transfer companies, signed by the Director General of the Department of Islamic Banking Division and obtained by the "Economy News", that "based on the decision of the Board of this bank No. 42 of 2018 adopted in its session No. 1567, held on 29 Dec The initial approval of the merger of financial transfer companies and light and the Nile and the eternal river and the establishment of a bank, "indicating that" the initial approval was granted to the merger of financial transfer companies walls and pearls and the West to set up a bank. "

And continued to grant initial approval to the merger of financial transfer companies Silk and Alwail and the Arab Secretary to establish a bank and grant initial approval to merge financial transfer companies Financial Association, Sharjah and Levant to establish a bank.

She pointed out that "the initial approval of the Transcontinental Company for financial conversion to complete the procedures for the establishment of an Islamic bank to be merged with the utility of the transfer of financial after granting a license to work as a bank."

"It was decided to grant the initial approval of the company to transfer financial spectrum to complete the procedures for the establishment of an Islamic bank to be merged with the company of nobility for financial conversion after granting a license to work as a bank."

The capital of the Islamic Bank of 100 billion dinars to be listed on the Iraqi Stock Exchange.

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