Adviser Abadi: Adoption of the Islamic Banking Act will revive the banking operations in the country
Adviser Abadi: Adoption of the Islamic Banking Act will revive the banking operations in the country
Date: 04/10/2015 17:55
Information / special / ..
considered an economic advisor to the prime minister appearance of Mohammed Saleh, Sunday, legislation Islamic Banking Act will revive banking operations in Iraq, pointing out that these banks remained operate without legal cover regulates its work over the past years. Saleh said in a statement to the Agency information /, that “Islamic banking is based on the legitimacy base is Halal and Haram It prohibits usury and analyze the profit muslim and on this basis, it banks do not usury in Islam.” He added that “the current Banking Act No. 94 of 2004 regulating the work of commercial banking usury only,” noting that “Islamic banks which 13 banks close to the number in Iraq remain without a law regulating its work over the past years.” He added that “the Banking Act Islamic passed by Parliament contains many features including the legalization of the Islamic Banks doing business investment not only on commercial mediations are limited, as would give legitimacy the necessary banking activities carried out by and revive the banking sector in Iraq, “pointing out that” Islamic banking is one of the modern banking in the world. “The Iraqi Council of Representatives, the voice of the majority, in (1 -10 -2015), during its 25th of the season Legislative first second legislative year, the project of the Islamic Banking Act. It ended 25 K
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