Financial demands of parliamentary government to expedite the establishment of Islamic Bank

28/04/2012 13:49

Baghdad, April 28 (Rn) – The Finance Committee representative, on Saturday, the Iraqi government to initiate the establishment of an Islamic bank government to support the development project of government banks. revealed the Iraqi government on July 2 last they decided to establish an Islamic bank a government supervised by the Central Bank of Iraq is linked administratively Ministry of Finance. said committee member Najiba Najib told the Kurdish news agency (Rn) that “the Finance Committee in the House of Representatives supports the approach the government about the development of Islamic bank, a government characterized by transactions modern banking and is based on the grounds away from the administrative bureaucracy.” and added that “the establishment of an Islamic bank government will open the a new way to deposit funds in State banks, as well as supporting investment with the Arab and Muslim countries. ” and noted that “there is a need that speed up the Ministry of Finance in the establishment of Islamic banks, to contribute to the expansion of trading bank.” and select the Central Bank of Iraq’s 250 billion dinars at a minimum to establish private banks in the country, while Iraq is at the present time the rehabilitation of the Rafidain and Rasheed in coordination with the World Bank. Economists believe that the private banks do not have the necessary tools to promote the reality of monetary and economic in the country, despite the legislation, the Council of the House of Representatives its first session the Banking Act to regulate the work of banks private and governmental organizations. From: Jafar Allonan, the Open: Joseph Karwan