Forecast Advisor to the Iraqi Central Bank Governor appearance Mohammed Saleh, Sunday, by the Ministry of finance opens Windows of Islamic banking in State-owned banks to raise their activity by more than 40%, the Bank sought to produce code for Islamic banks.
He said in an interview for the “lsomret news”, “State-owned banks dominate the 85% of banking activity in Iraq, and thus the Ministry of Finance of the Islamic Windows in Rafidain and rational State banks activity would in Iraq to more than 40%” “.
“The Iraqi Government has allocated 50 billion dinars to support Rafidain and rational in equal shares to open Windows for Islamic banks”, stating that “Islamic banks based on partnership between the Bank and the depositor’s funds are a modern banking tool nor greater than Iraq’s banking activity and currently more than 20%”.
“Seven Islamic banks in Iraq among the 40 banks recently.”
And he said that “Iraqi banks law did not distinguish between investment banking and banking business where there is no legal basis or passage in banking law regulating the Islamic banks or their work, and therefore define Islamic banks in Iraq between usury practised in accordance with Islamic.”
Revealed that “Central Bank of Iraq seeks currently issuing banks Act.”