Daash begins distributing loans without interest and threatens the Iraqi economy

Daash begins distributing loans without interest and threatens the Iraqi economy

Posted, 02-01-2015 11:52 PM

Basra, Abdul Aziz al-Tai
Raised the bank which was inaugurated by the organization ‘Daash’, on Wednesday, and widespread concern inside Iraq, where economists expressed concerns about the existence of money laundering or outline of the organization in order to withdraw liquidity from the Iraqi market towns under the control of the government in conjunction with the financial country’s crisis, what constitutes a blow Judge of the national economy equivalent to the current tanks and war planes, describing the move as a blow ‘teacher demon’.
Said economist and former director of the Rafidain Bank of Iraq in Nineveh province, Mohammed al-Hamdani, the step ‘Daash’ will not be the last ‘and open organization other banks in the cities of western and northern Iraq, and this is what should be an alarm on each of the national economy, because the government still give salaries for citizens who are in the presence of Daash areas and on a monthly basis, which means that about 4 billion dinars per month will move from government banks to markets controlled by Daash, if we assume that the people there did not trust Bmassarvhm did not deposit anything where they just banks replacement or borrow ‘.
He revealed al-Hamdani, the organization has benefited from the money looted from the Rafidain Bank (112) branch in Mosul, which was looted in broad daylight, stressing that the armed elements stormed the bank, located downtown, last Saturday, and carried the 3 cars with cash and transferred to an unknown destination.
He said: ‘I do not know the exact size of the stolen money, but billions of dinars, in addition to the funds looted from other banks and the sale of oil imports to the European countries’.
He explained that the first few hours of the opening of the bank has seen limited Toalfda, but the numbers began to mount after day yesterday remedy, Wednesday, pointing out that workers in the bank, all of the strangers from the city, including Arabs and foreigners and translators, before adding: ‘They know how to dramatically banking transactions and have large computational and administrative experience, and they seem to specialists working in the banking sector ‘.
For his part, Professor of Economics at the Faculty of Business and Economics at the University of Baghdad, Hussein Zebra said, that the announcement of the establishment of the first Islamic bank continued to’daash ‘, is a step towards economic integration of’alarhab, pointing out that the first days after the regulation on the control of Mosul was indicate economic trends represented control of the oil, dams, banks and markets wells.
He Zebra, to be ambitious ‘Daash’ to create an integrated strong economy was not random nor fluke, but it was planned even before the fall of Mosul.
He warned Iraqi economist from the consequences of the existence of the economy ‘Daasha’ strong in Iraq, because this force may represent a starting point for other steps may be more serious, such as providing political demands related to senior appointments in the state, or judicial calls for the release of prisoners of regulation in Iraqi prisons, noting that the minds of the organization is seeking to develop its economy by adopting capitalist ideas that suggest that ‘Who owns the money influences politics and the Constitution and the law.’
An Iraqi local sources in the city of Mosul, (400 kilometers) north of Baghdad, reported that the organization ‘Daash’, opened on Wednesday, the first of its own bank for banking transactions and taking deposits and making loans, pointing out that the bank bears the name of ‘Islamic bank’.
According to the same sources, the organization directed towards banks came to avoid the spread of paper currency damaged the largest amount of small coins and contain, as well as to avoid the problem of thefts that the population began to suffer after the incidence of poverty among low levels in areas controlled by the organization.
An informed source in the city of Mosul, said that the bank’s employees, who are members of the organization, they started their work in the bank to allow all Iraqis to replace the 250 dinars (less than a dollar), and that the bank be allowed to replace the currency up to 25 thousand dinars maximum per citizen per day, as well as replacement Damaged currencies.
The source did not give any information about the organization that provided large sums of money which enabled him to the opening of the bank, or the point of small and damaged coins received by.
He pointed out that the regulation issued at the same time a new ration cards bearing the organization logo, organize food distribution in exchange for a nominal sum is three thousand dinars ($ 2.6), pointing out that the organization entrusted with the distribution of food to some shopkeepers task, and instructed to cancel the old card, and withhold rations for those who do not have the cards regulation.
He said citizens in Mosul, the organization opened a new bank in the meteorological building being fortified, and citizens were allowed to enter from the door, the first for men and one for women.
He also promised to grant loans to residents without any interest, but not more than two million dinars, and be dedicated to the purpose of life, marriage or the acquisition of a car or treatment and be affordable payment. Ali said grace, (45 years), that the organization handles like a stable and independent sovereign state, it does not seem to think to leave or reverse its decision to establish the caliphate even the rivers of blood spilled in Iraq.
And indicates the opening of the organization ‘Daash’ for the bank to adopt a systematic economic policy, after the announcement of the organization, earlier, for planning Stamping gold, silver and copper coins being handled within the confines of ‘Islamic state’, adding, in a statement, that the currency will include 7 coins (2 gold, 3 silver and 2 bronze).

The former US Assistant Secretary of State, Jimmy Gorel, has confirmed that the ‘Daash’ economy is stronger than the base economy, where the latter was receiving support from abroad while ‘Daash’ depends on self-financing through the oil and tax sales and ransom grab the effects of precious resources, calling Banks all States not to receive any money from the ‘Daash’ or handled.

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