CBI: Send Islamic Banking Regulation Act to the State Advisory

The Central Bank of Iraq on the submission of the draft law regulating Islamic banking to the Council of State in order to be displayed in the Council of Ministers and then submitted it to the House of Representatives.

The deputy governor of the Bank the appearance of Mohammed Saleh said that “the central bank has raised the draft law regulating Islamic banking and banking opening windows to the State Council for the purpose of amendment and send it to the Council of Ministers.” He added that “the bill will organize the work of Islamic banks and windows in the state-owned commercial banks.”

And demanded the House of Representatives earlier in the Iraqi government to establish an Islamic bank to support the project development of State-owned banks. And select the CBI 250 billion dinars minimum to establish private banks in the country amid an economic vision that private banks do not have the tools necessary to promote monetary and economic reality in the country.