Center: Islamic banking in Iraq is in line with international standards

Sunday, 9 December




Alsumaria News / Baghdad
A training center has announced that Islamic banking in Iraq has become in line with international standards, pointing to the holding of more than one program in Iraq in various fields and approved by the World Council of Islamic Banks and Financial Institutions in Bahrain.

"With the development of the economy in Iraq and the opening of Islamic banks to serve the banking sector and under the supervision of the Central Bank of Iraq, the development of banking cadres in a fast and unique, in line with international standards for banks and Islamic financial institutions (Ivey) Adding that "more than one training program was held in Iraq for Islamic banks in various fields and approved by the World Council of Islamic Banks and Financial Institutions in Bahrain."




He added that "the most prominent training programs under the supervision of the House of Wisdom (Jubouri and its partners) and the agent of the World Council of Banks and Islamic financial institutions in cooperation with ABC is the certificate of a certified Islamic specialist in governance and compliance, and the certificate of specialist Islamic certified risk management, In the forensic audit, and with the participation of more than 50 trainees from within the Islamic banks, and thus the Islamic banking sector in Iraq has started to develop this sector correctly and according to international standards. "




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Sunday, November 11,


Alsumaria News / Baghdad
The governor of the Central Bank of Iraq Ali al-Alaq, Sunday, that the actions taken by the bank was sufficient to move Iraq to the normal follow-up area.

Al-Alak said during the signing ceremony of the Iraqi National Bank, a memorandum of understanding with the International Finance Corporation and attended by Alsumaria News, that "the banking procedures we have taken a great way to strengthen the status of Iraq in the classification of combating money laundering and the financing of terrorism, which today is a key issue and important in cooperation Between financial institutions and between countries. "




He added that the classification that we obtained by the International Labor Organization, which transferred Iraq during the last few years from the gray area to the region continued follow-up and then we were able to reach the region the normal follow-up to which all countries are subject.

"This new indicator will enable all international financial institutions to open their doors and their relationship with our banking institutions in Iraq," he said.

The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.




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