Expansion ports financing adopted by Islamic banks

[yota691]

Expansion ports financing adopted by Islamic banks

 

 

         

3/29/2015 0:00 

Is more important to the economic development stage 

 BAGHDAD - Hussein al-Tamimi Tgb 

after becoming the expansion funding is important axis in the implementation aimed to bring about sustainable economic development projects, Islamic banks have started this aspect gives special importance to the expansion of the financial funding and ways to achieve them outlets to suit the requirements phase. 

economist d. Sadiq al-Shammari, said: "The need to achieve this expansion requires the establishment of an Islamic investment funds specializing in real estate financing in each Islamic bank can invest this money for these funds to contribute contracting company linked to the Ministry of Construction for the purpose of providing loans to eligible without interest." 

He added in an interview for the "morning ", that" open branches of the windows in the districts and areas in all the cities of Iraq for the purpose of attracting savings and investment in farming and rent, which lacks a country formats, which focus on serving the public interest to the advancement of the economic aspect of the country. " 

He said the work on risk management is by achieving the ability to measure all kinds and create special departments to follow up on the implementation of the policy for the risk, and the directors of other follow-up implementation of credit policies approved and activating the role of internal oversight bodies forensic audit and strengthened so that it can risk predicted before they occur, pointing to the need to establish engineering management in Islamic banks with an efficient and qualified elements of project management . 

the need for a regulatory framework and oversight so as to ensure the standardization of opinions and interpretations of sharia law, the focus is on strengthening the stakeholders and different groups in the Islamic finance industry confidence box has become a necessity (according to Shimri), who stressed the need for full coordination and availability of efforts between the regulatory and legislative bodies and to coordinate departments among them to create infrastructure and financial system compatible with Islamic principles that are measuring solvency process for institutions sufficient attention to reflect the extent of their exposure to various risks. 

He stressed that the presence of a suitable framework governance system includes compatibility practices with Islamic Sharia law and that there is a part of the financial overseeing includes financial reporting and accounting systems and audit financial solvency and insolvency cases to the risk of transparency, disclosure and corporate governance Enterprise Manager. 

He pointed to the need for coordination between regulators and educational entities in the field of Islamic finance and support the establishment of research centers for the development of special products to hedge against operational risk and market risk and compliant with Islamic law. 

Shammari urged banks departments Islamic find mechanism for control of the capital adequacy ratio and make approval decisions issued by the Basel Committee and the Accounting and Auditing Organization for Islamic Financial Institutions and the vagaries of the central bank. 

He continued to ensure the implementation of these decisions requires Islamic banks to have a system to estimate the required capital level compared to the level of risk, as well as the formulation of strategy clear to maintain capital at an appropriate level required if the increased Almkhatr.uzad saying: there is a need to employ highly qualified message of the Islamic bank, and put instructions and guidelines for measuring risk in the light of what was issued by the Basel Committee and the Accounting and Auditing Organization for Islamic Financial Institutions of the principles and inquiries of and preparation of Angels HR efficient by creating Tdrebe.oukal Shammari program: There must be for central banks to discriminate in the application of capital adequacy standard between Islamic banks and conventional banks, as taken into account the special characteristics of these banks and the central bank to activate the role of controlling Islamic banks in terms of adequacy capital and the extent of the application of the principles of Islamic banking Islamic Sharia related formulas finance and investment, and the establishment specializing in independent central banks are connected by all Islamic banks and pursue the business and activities of these banks are constantly circle.

 

[haymon]

Good read. More words than I use in a week.....

Edited March 29, 2015 by haymon

[waterman13]

Excellent!

Go IRAQ Build!

Wm13

[sandfly]

THANKS