Economist: Islamic banking business began competing in banking

Date: 01/12/2013 12:54:00 Saturday



Baghdad (news) .. Chief Economist peace Quraishi, that the entry of Islamic banking in the banking business has created an atmosphere of competition with commercial banks in terms of public money and bid farewell.

Quraishi said (of the Agency news): The experience of Islamic banking has succeeded in Iraq with evidence that most of the citizens have become prefer to deal with banks with Islamic character because it fit with their desires, what made there is strong competition between them and the commercial banks.

He added: The basic idea of ​​the work force it is working according to Islamic sharia law on the basis of Murabaha, not usury, that avoided most of the citizens, stressing the need for legislation of a special law for Islamic banks to support the banking sector in general.

The director of the Department of Islamic assets in the Rasheed Bank Rasool Jaafar, said in a press statement: that the services provided by the window of the Islamic practice newly banking Iraqi fit with the wishes of the citizens, noting delivered more than 3000 asked citizens to buy real estate through the window of the Islamic as well as thousands of applications for the purchase of cars through the loan allocated for this purpose. / end / 8. n. p /


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