Al-Nahrain signs a salary settlement contract with the Ministry of Interior, and includes them with many funds

[MyLadiesDaddy]

"PLENTIFUL OPPORTUNITIES"????????????

 

Sure if ya can keep yer head on yer shoulders     Sorry 

 

I just couldn't pass that up.

[yota691]

Tomorrow .. World Summit on Islamic Economics starting in Dubai

History of edits:: 2015/10/4 17:45 • 59 visits readable

[Follow-up -aan] 
kicks off on Monday in the 2015 Dubai World Summit on Islamic Economics, which sponsored by the Chamber of Commerce and Industry (DCCI) events, and Thomson Reuters.

The convening of this summit, amid the challenges faced by the Islamic economy in all its branches both at the level of theoretical or at the application level is also a volatile environment in which the political, ideological and religious conflicts that exist in the Islamic world the biggest challenge facing the organizers of the joints of the economic Islamic institutions. 
Experts say this Challenge push the Islamic economy to expand geographically in all continents of the world, especially Europe and America also pay those who support it to discover new horizons and large areas of work. 
and became the Islamic economy includes many sectors notably the Islamic finance industry muslim family tourism and Islamic knowledge, art and Islamic design Islamic digital economy and Islamic standards. 
The summit gathered this year, more than 2,000 business leaders and decision-makers from all over the Islamic world and beyond. And will discuss critical issues affecting the Islamic economics, including issues related to business and investment opportunities in the field of Islamic finance, insurance, and the full value chain of food from manufacturing to logistics and manufacture of halal products and tourism and small institutions Almtosth.anthy

[yota691]

Bankers: Islamic banks share of the market is estimated to 45% compared to conventional banks share

06/10/2015

 

CEOs of a number of Islamic banks said that Islamic banks grow strong and rapid rates, compared to the traditional banking sector, arguing that Islamic banks are estimated share of the market with 45% share compared to conventional banks.

They, on the sidelines of the second session of the work of Islamic economics summit, which was held in Dubai yesterday, that the sector needs to unify standards and its own laws in line with the nature of Islamic economics.

And detailed, CEO «Abu Dhabi Islamic Bank», Trad Mahmoud said, that «there is a demand for Islamic banking products contributed to the decline in demand for products from traditional banks, which means that there is a shift from (traditional banking) to (Islamic)».

He pointed Mahmoud that Islamic banks share of the market is estimated to 45%, although the number of conventional banks exceeds the number of Islamic banks significantly, and expected that the share rise in the future to 50%, in conjunction with the support provided by the state, represented by the central bank, to support the sector even more, judging from the fact that the UAE has become a center of Islamic economy in the world.

Mahmoud explained that the sector needs to unify the standards and laws, its own in line with normal Islamic economics, and are quick to increase growth rates for the sector, noting that Islamic banks need good liquidity management, many Islamic banks does not improve liquidity management and some keep it rigid. He pointed out that this move away from the financial and moral Islamic banking, which aims to increase the operating ratios global goal, and talk here is not in the UAE, but includes all the Islamic banks globally.

Mahmoud pointed out that Islamic banking should be concerned with legislative Bbenitha through standardization, not match the products, reproduce, stressing the importance of the role of Islamic banking scholars in uniting this necessary to give Islamic banks entrusted with the role in the coming period standards.

In turn, the Group Chief Executive Officer «Dubai Islamic Bank», Dr. Adnan Chilwan, said that «Islamic banking services show tremendous potential he still untapped to a large extent», pointing out that «there is a growing demand for Islamic banking services in all countries of the world and not Islamic countries only, what proved the Islamic banking system of power in the face of the economic challenges faced by the world in the near future, and it was led by the global financial crisis ».

Chilwan stressed that increased growth rates and quotas for the Islamic banking sector in the financial market, it must be supported unification of standards, laws and legislations own Islamic Bachirvh, and taking into account the special considerations with them as one of the most important factors that will push the sector in the future.

For his part, Chief Executive called for «Emirates Islamic Bank», Jamal Bin Ghalaita, standardization and the creation of a unified reference for all Islamic banks operating in the sector, so are referenced in the event of certain differences, pointing to the need for innovation by Islamic banks and find products new.

He noted Bin Ghalaita that the Islamic banking sector grow to occupy a prominent place in the overall economic activity, and the best proof of that excellent results and rates of exceptional growth achieved by Islamic banks during the past few years, which excelled through which the conventional finance sector.

For his part, Chief Executive told «Kuwait Finance House», Mazen riser, that Islamic banks in front of her challenge to grow and go beyond the limits of what is currently offered, and the standardization of legislation and regulations governing the sector without cloning Islamic products produced by the banks, pointing out that the share of Islamic banking in an increasing growth in Kuwait and the Gulf states and the region as a whole.

He pointed out that standardization will enable Islamic banks to offer their services in line with the ethical aspect target.

[Big_J]

GM YOTA AND DV. CHANGE IS HERE MY FRIEND!

[yota691]

Parliamentary Finance's (et): Islamic banks will pay for the good atmosphere of the Iraqi economy

By Mohammed Emad 08/10/2015 01:15 | Views: 30

font size:  

 

Brother Sam and Mullah

Rapporteur stressed the parliamentary finance committee Hama Rashid Ahmed said, "Islamic Banking Act legislation will drive to the good atmosphere of the Islamic economy in Iraq."

Rashid said in a statement singled out by the reporter for News Agency (et) that "banks in Iraq are working usurious system and the Iraqi people a Muslim does not deal with interest by noting that" the passing of the bill will give a good incentive for people to deal with Islamic banks. "

He noted that "a good climate for Islamic Economy in Iraq, the fact that the law is important to proceed with accountability to citizen's life religiously."

[yota691]

"Central": the Banking Act increases the share of Islamic banks in Iraq

 

 

Image of Reuters

 

 

October 11, 2015 11:47

Direct: The governor of the Central Bank Alaraca- on the Keywords, the Islamic Banking Act - Headquarters Hditha- will contribute to the lifting of Islamic banks' share of the Iraqi banking sector, and to increase the assets of the Islamic finance industry compared to commercial banks.

He added, "Keywords" that Islamic banks can attract more deposits and savings, and will help in the financing of many of the key economic sectors in Iraq, as well as the financing of major projects which are considered the main engine of the country, "citing the central bank governor said in an interview with the angle.

He pointed according to the Iraqi News Agency that the law will give the necessary banking business legality carried out by Islamic banks, and revive the banking sector, noting that the number of Islamic banks in Iraq amounted to 13 banks, in what constitutes a capital 23.1% of the total of the banks' capital sector for 2014.

According to the law of Islamic banks - which was approved earlier this month - it may be the establishment of an Islamic Bank in accordance with the provisions of the Companies Act No. 21 of 1997, according to the formats of banking transactions that are not inconsistent with the provisions of Islamic law, and may not be paid-up capital of any Islamic bank less than [250 ] two hundred and fifty billion dinars, to be paid [100] hundred billion dinars, of which at the foundation, and pay off the rest in three equal annual installments.

 Economic Advisor to the Government of the Iraqi-Dr "constitutes a market share of Islamic banks size in Iraq is currently 25% of the banking sector, and after the adoption of the law may be up to 40% until 2020" and the volume of Iraqi bank assets to approximately 200 trillion dinars says the appearance of Mohammed Saleh, Iraqi year-end 2014, of which 90% owned by state-owned banks, a commercial, and only 10% of the domestic banks, which practiced commercial and Islamic financing together, he says "fit".

[yota691]

Academic: Islamic banks contribute to the development

 

 

         

10/14/2015 0:00 

 Baghdad Imad emirate 

explained academic that the money sources of Islamic Banks and economic activities comes from two sources, the first internal represented by capital which is intended in Islamic thought (out of money) any that part of the allocated to the project when it was founded monetary wealth, and added to that part is a set of money invested and known as the (trade money). 

The capital can be defined in the Islamic Bank as a group project, the owners of the contributions at the beginning of its establishment and the net extra money (cash and kind) which is the difference between what is added to it and taken from it in the later stages. He added. Abdul-Zahra Faisal Younis from the Faculty of Management and Economics at the University of Mustansiriya, if capital does not represent only a limited percentage of the financial pot to commercial banks compared to the monetary mass pumped in the investment market that form deposits in various forms the largest content, it is the financial source of the most important for the Islamic Banks, which should be enough to cover their reserves. 

and between Younis, Islamic banks, whether public or private or mixed take the form of joint-stock companies as painted border man-made laws. 

pointing out that it is not an exception to the general context of the emergence of economic institutions in the framework of applicable laws and is mildly nascent the capitalist mode, so the view of many economists that the Islamic banks in terms of principles contradict the theoretical foundations that regulate the emergence Fla.modha the Islamic banks to contribute to a group of investors who are turning their savings into shares and bonds of these banks allow them to speculate. And therefore differ from the nominal value of their real value so that they are included as part of the suspicions usury. The contract in Islamic jurisprudence requires (satisfaction) and decades of Islamic banks in terms of legal form or formalities are closer to the bow and delivery status quo decades, and they have no say in the other contributors test. He said because its shares on the market, and also anyone can buy a number of them, belonging to the group of participants. And thus become institutions made ​​up of people who do not know each other and they are not stable, as can any of them to sell shares whenever he wants. Decisions are taken by a majority vote of members of the Assembly of shorthand practice charismatic director of the company based on his mandate. He suggested that it can be said: The partners here are not only the owners of the shares and their right to vote is linked to their name associated with them, as their share of the profits, and not Valshm permission contributor to the work of Islamic banks. He added, not Islamic Banks judicial personality separate from women with partners where so integrated into her financial assets owed ​​by partners according to Islamic jurisprudence that does not separate them, Vaharik is ultimately to ask about everything that affects the company is not within the limits of its share of assessments but extends the scope of responsibility, even in own funds not covered by the company's contract because it is in the eyes of Islamic jurisprudence acting on his behalf and on behalf of its partners. 

He concluded that, «to Aasah dividend only after (silvering) capital in the sense confined and select it, and here comes the Islamic banking policy in the composition of reserves, including through maintaining the value of the deposit has, either external sources of financing are deposits invested by Islamic banks to achieve profits flow from this investment, whether solo or in combination with other companies and institutions ».

[yota691]

10/27/2015 08:37 GMT

  The start of the regular meeting of the 76 institutions of the Coordination Group of the Islamic Development Bank

 Agencies -

 

 

The regular meeting of the 76 work of the institutions of the Islamic Bank for Development Coordination Group began yesterday in the city of Jeddah, which will last three days.

 

Said Dr. Ahmad Mohamed Ali, President of the Islamic Development Bank Group in a speech during the opening ceremony that the meeting is a clear translation of the strength of the relationship between the Community institutions and their efforts in the hard work and continuous work for the construction and development.

 

He added that since 1971, contributed to coordinate an effective role in providing the economic and development efforts in various parts of the world group.

 

He pointed to the total financing approved by the coordination and branches set up the first half of 2015 amounted to 235 billion US dollars, approximately 60% of them to support public and private sector investment to create the energy infrastructure, transport, communications and social services.

 

Turning to the most prominent joint projects funded by the Group, including, for example finance dam Manintalla Senegal River, which serves both from Senegal, Mali, Mauritania and Guinea basin, the road across the desert that connects Algeria Lagos length of 9000 km, and takes advantage of the way of Algeria, Tunisia and Chad, Nigeria and Mali.

 

For his part, he praised Fouad Al Bassam, Deputy Director General of the OPEC Fund for International Development for Operations, the role of the Islamic Development Bank and its efforts in the areas of development and sincere cooperation with the group in order to achieve its objectives.

[yota691]

Economic development of the Islamic financial market is hosting a meeting of the Islamic credit support

 

 

Image of Reuters - Arabian Eye

 

 

 

October 20, 2015 17:24

Direct: the Economic Development Board hosted a consultative meeting competent to order the Islamic credit support in collaboration with the International Islamic Financial Market, the market specialist and partner in the Islamic hedge, the International Federation of swaps and derivatives.

According to the News Agency of Bahrain, prepare a document arranging credit support (CSA) a document of major risk management, where are the risks of transactions between the various parties managed through guarantees and mechanism margin, and will develop and document the order of credit support (CSA) Islamic under the terms of the Master Agreement for transactions hedge Islamic previously issued by the International Islamic Financial Market (IIFM) and the International Federation of swaps and derivatives (ISDA).

A press release said the Economic Development Board, that there is a growing demand from regulatory agencies to document the order of credit support (CSA) in the GCC, Europe, and the Far East, North America and other regions, and with the growth of the Islamic finance industry, and the proliferation of investors enter into, become the more urgent the need to establish mechanisms to manage those risks.

The meeting discussed the impact of the new regulations of the Basel Committee and other regulatory bodies to meet the requirements of certain transactions and requiring additional collateral and marginal on uncompleted transactions. Given the global expansion in Islamic banking, some Islamic transactions will be affected as they are not basic precautionary measures and agreements put.

Khaled Arumaiha- CEO of the Economic Development Board has commented that the role of the international Islamic financial market is vital to the development of the Islamic finance industry is not limited only to Bahrain, but also at the international level. We firmly believe that what benefit the Islamic finance industry at the international level is for the benefit of the Kingdom of Bahrain also. "

He added that with the expansion witnessed by the Islamic finance industry at the international level, it needs continuous further development in order to thrive in the future. The enable institutions to manage their risks effectively is very important for the development of the entire sector - where you must do so in a manner not detrimental to the stability of the financial sector.

For his part, said Ijlal Alvi, Chief Executive Officer of the International Islamic Financial Market, that the expansion of the Islamic finance industry at the international level led to a need for new regulatory bodies such as the Basel III and other regulatory bodies to work on the development of collateral and margin protection under the document support the key lending and Sub including the terms of a It is essential for certain transactions in all banks including Islamic financial institutions where new sectors such as risk reduction Islamic Owalthot evolved.

[yota691]

$ 2 trillion bank financial Islamic asset size

Image of Reuters - Arabian Ay

 

  October 29, 2015 11:46

Direct: the World Bank, said that the financial assets that are managed according to the principles of Islamic Sharia size of about two trillion dollars.

The bank said in a statement published by the Oman News Agency, that these assets have achieved a cumulative annual growth averaging about 16% since 2009.

He added that the instruments sector, which focuses on securitization operations and asset-backed securities has seen tremendous growth over the past six years, and the value of its operations in 2014 of more than $ 300 billion.

The statement said that there is a force similar payment paid at the moment wheel Islamic funds and sectors of the Islamic Takaful insurance growth.

He added, in the years from 2009 to 2014 increased Islamic funds assets under management of about $ 40 billion to about $ 60 billion by value. At the same time it increased the value of total contributions to the Islamic insurance dramatic increase from $ 7 billion to more than $ 14 billion .

The bank pointed out that the Islamic finance and Islamic banking services depend on two basic principles should be taking into account the risk-sharing element in all transactions, and the existence of the cover is a real asset for all transactions.

[yota691]

«Ernst & Young»: a growing momentum for Islamic banking in the UAE

the source: 

• Manama - statement

Date:  02 November 2015

•  

A report «Global Competitiveness sector Islamic banking 2015 - 2016», published by «Ernst & Young», that the Islamic banking sector in the UAE is characterized by a growing momentum thanks to the development and innovation achieved in the digital world, the thing that makes them rank equal to Malaysia in terms of its share of the Global Market. According to the report, the total profits of Islamic banks in the Gulf countries has exceeded $ 12 billion for the first time in 2014, with expectations of continuing growth of the sector amid ambiguity of regional economic conditions.

As is the nine markets Chairperson currently it is the growth of global Islamic finance industry engines, the report identifies a group of 40 banks in these nine key markets, as important elements for progress in the future of the industry, noting that 50% of those banks owns shares worth billion base and more dollars.

Shaping the Future

World Islamic Banking Conference with the international consulting company «Ernst & Young» and held a press conference to discuss key strategic imperatives for the Islamic finance industry, and that the Gulf Hotel in the Kingdom of Bahrain.

And he gave a press conference which will be held a month before the World Conference of Islamic banks in the twenty-second annual edition, the most prominent light on what is in the report. He pointed feel Nazim, Partner and Head of Islamic Financial Services Group at Ernst & Young, that the results and outputs of the report provide statements of a leader will help shape the future of the Islamic banks.

He added that innovation in technology and development in the digital world to call for a change of bank customers' experiences across channels and all focal points, which can help banks to anticipate the changing needs of customers. He continued to say: «We hope that these ideas contribute insights to stimulate job discussions between the executive heads of major Islamic banks, not only during the conference, but in what is beyond that, in the board of directors and other areas of decision which we hope will have a deep impact making».

Industry growth

In the same context, Mozamil Kspti, director of global Islamic banking center in the Ernst & Young said: «can be attributed global Islamic banking industry, the growth of the Arab Gulf States, during the past few years, to increase public sector spending in the light of falling oil revenues.It is interesting to see how the banks will be affected by this, where governments spend their reserves deposited in banks to cover the deficit in the budget, due to lower global oil prices. »

Encourage industry

For his part, d. Syed Farooq, Chairman of the Board and Chief Executive Officer for the Middle East Global Advisors, during the conference, the long-term the World Conference of Islamic banks in the formation of the leaders of thought in the Islamic financial services industry role. The World Islamic Banking Conference shares during the two years and twenty years in the promotion and care of the industry, as a platform to provide insights reference about the opportunities and challenges. The conference also led a pivotal role in attracting Islamic banking industry leaders to form constructive alliances in order to strengthen the foundations of the industry.

[yota691]

GMT 10:05 2015 Althelaia November 10: Last Updated

Kuwait hosts the World Conference of Islamic finance

Talal Jasser

 

 

 

Talal Jasser: Kuwait tomorrow host the World Conference of Islamic finance with the participation and the presence of finance ministers and governors of central banks, officials and a group of decision-makers and experts from 40 countries.

The conference, organized by the Central Bank of Kuwait to develop a vision for the continued growth of the Islamic finance sector and the continued development of a framework for action at the international level in this area.

The importance of the conference in that first conference looking in Islamic finance with the participation of the International Monetary Fund, which finally showed clear this industry attention and conducted several studies to benefit from the potential of Islamic finance to be the conference is an opportunity for dialogue and discussion with the highest interested in economic affairs international body to take advantage of Islamic finance in promoting global economic development.

According to the latest estimates, the assets of the global Islamic finance sector exceed 87.1 trillion US dollars, a significant rise compared with a value of US $ 150 billion in the mid-nineties of the last century and can be used, although it is still small compared to the total global financial assets to stimulate development.

The conference provides an opportunity to conduct a global policy dialogue between high-level policy-makers, including central bank governors, ministers and officials in the regulatory agencies and bodies on the Status of conventional and Islamic financing standards for the purpose of formulating a common vision for the development of funding.

Conference and one-day also aims to encourage interaction on a large scale among delegations through four sessions as it is and as well as the opening session attended by Director General of the International Monetary Fund, Christine does not Garde and the Governor of the Central Bank of Kuwait Dr. Mohammad Alhashl held three meetings to discuss several issues.

And holds the first meeting of the title (increase financial inclusion and growth through the availability of funding) and focus on increasing financial inclusion and growth by providing access to finance, regulation and control to support the stability and development of instruments and other long-term forms of financing for sustainable development.

The second session bear the title (strengthening the regulation and supervision to enhance stability) and discusses the standards and regulations that need to be developed to be appropriate and commensurate with the Islamic banks and properties as well as greater coherence between the regulatory and supervisory rules, where the actors on the Status of Islamic finance standards, including the Islamic Financial Services Board.

And holds the third session address (the development of instruments and other Islamic financing instruments for long-term sustainable development) and looking debt instruments in Islamic finance, especially in light of the steady increase in the size versions of instruments around the world and the mechanisms to take advantage of these tools in investment and economic activities and development projects around the world finance.

[olivesman]

Thanks YOTA. You the man. (I love it when you highlight)

[tigergorzow]

87.1 Trillion dollars worth of assets. My goodness that is a lot of dough.

GO RV!!

[Freedomwish]

According to the latest estimates, the assets of the global Islamic finance sector exceed 87.1 trillion US dollars, a significant rise compared with a value of US $ 150 billion in the mid-nineties of the last century and can be used, although it is still small compared to the total global financial assets to stimulate development.

 

Whoa!.  Just........whoa!  

Edited November 10, 2015 by Freedomwish

[Dinarian64]

This is definitely NOT another bank story.

[yota691]

"Islamic banking conference" to discuss the future of the next first commodities and currencies December

November 11, 2015

 

 

 

 

Our economy / Manama

World Islamic Banking Conference 2015 to attract veteran economic figures and asset managers and employees of investment banks in the twenty-second edition of the conference, which will be held in the period 1 - 3 announced next December in Bahrain.

They will provide a comprehensive presentation about the chances of asset allocation in 2016, in the major countries and regions, energy, basic commodities and currencies, in front of more than 1,200 participants are expected to attend the conference.

World Islamic Banking Conference and contributed over 22 years ago in the provision of regional and global insights to help influential executives in senior management in the formulation of their strategy for the coming year.

The conference will cover topics this year include the impact of US monetary policy on foreign exchange exposure, whether it is a recession in Europe will affect the north of Africa, and how the low growth rates in China affect the economies of the Middle East, North Africa and Southeast Asian countries.

It is worth mentioning here, is that the global economic growth or decline, in addition to the current oil crisis and changes in the monetary policy of the Federal Reserve and the US central bank European are the keys to assess the future allocation of Islamic financial assets in 2016

In 2014, the global economy grew by 2.6 percent, despite the expectation of higher growth rates to 3.1 percent and 3.3 percent in 2015 and 2016

And facing the governments of the Organization of the Islamic countries in the region a challenge to maintain the overall financial increases, in order to invest in infrastructure in particular, with the need to achieve long-term financial sustainability.

On the other hand, it will be the policy interest rate by Europe and the United States a strong impact on financial stability in the Middle East, North Africa and Southeast Asia, where the impact on the capital towards these markets flows, and can be observed this effect on some countries, such as Malaysia.

And it will enable the time of the World Islamic Banking Conference 2015 investors and asset managers assess the current state of the global political economy. And will participate in the conference vice-president and director of research and consulting company "Capital symbol" Mr. Talal Toukan, which emphasizes the importance of taking into account global trends affecting their business on a large scale, noting that "the new technology works to accelerate Droan commercial business, as Investment patterns turned into a global context.

He added: "The major economic channels and close ties in all parts of the world dictate to a better understanding about how global factors boil down to regional engines.

Turkey is among the countries that will be highlighted during the conference, and will be represented by the pioneers of the Turkish Central Bank, and Turkiye Finans and RHEA Asset Management

As an emerging market for Islamic finance, the site of Turkey between the continents of Europe and Asia focused in its favor. It is worth mentioning here, is a declaration of the Turkish Bank Kuveyt Turk for the launch of the first fully fledged Islamic bank in Germany in July 2016, a major step in the provision of banking services compatible with Islamic law in the European market.

[yota691]

IMF: Islamic financial assets represented 1% of global assets

 

      Wednesday   11   November   2015 | 15:11

 

 

 

 

Islamic asset size in the world, amounted to about $ 2 trillion, which represents 1% of total global financial assets.

 

 

 

Drew the Director of the International Monetary Fund, "Christine Lagarde," that the Islamic asset size in the world, amounted to about $ 2 trillion, which represents 1% of total global financial assets. 
At a conference on Islamic Economics in Kuwait, Lagarde stressed that the Islamic Sukuk, increased by 10 fold, to reach US $ 300 billion recently, pointing out that most of these instruments are concentrated in the Gulf and Malaysia. 
She pointed out that countries such as Luxembourg, South Africa and the United Kingdom, experienced a growth in Islamic asset size, over the past years. 
It pointed out to the two main points that characterize Islamic finance, First, inclusiveness and ability to integrate, you can get a broader banking services, fill the needs of the population, as well as the link between the credit and security, including fits small and medium-sized companies, capable of creating jobs. 
The second point, according to Director of the International Monetary Fund are funding ability on the development of Islamic assets, especially since he has the principle of participation in the profit and loss, in addition to the deposit, which allows to reduce the risks.

[yota691]

Savings and Islamic banks

 

 

         

11/18/2015 0:00 

 Thamer Alheims 

about to look to external borrowing, the Iraqi economy gradually will become dependent on external flows entity, but at a high price may lose an independent economic decision.According to economic theory, Keynesian of the difference between the value of imports and the value of exports of goods and services to the theory of the difference between desired savings and investment desired (this also came in d. Article Mohammed Saleh appearance regarding savings imbalances). 

Valedjar desirable is the substantive equivalent of the presumption under this hypothesis is proven. Given that this type of savings is essential to the reduction of consumerism must provide complete objectivity conditions effective on the one hand. 

The banking items that have become a pot of this savings are Islamic banks or Islamic window government or private.   

Where Islamic banks or Islamic windows still successful option in the global and regional economy, especially. The success of Islamic banks implies it meets the concrete social need, as it provides complete her legal protection and even welcomed (d. Timor Curran / Islam and the super-rich - translation platform of freedom p. 121). 

Since it any Islamic banks or windows meet the social need to be the intake of access to the sums saved in houses often the result for total spending of 50 percent of the budget mechanisms, so Islamic banks and windows work strenuously to seize amounts in excess of the normal through the following consumption: 

* do an awareness campaign serve and encourage, but savings, which has long been hesitant through the uncertainty caused by the security conditions and this is done through the State-owned banks to support this trend because of its exposed some private banks to setbacks or some excesses and deviations. This is done through the guarantee for these banks closer to the lock on the amounts saved in the first stage. 

 • Advertising and transparently on the projects contributed by Islamic banks in order to 

 reassure the depositor and supports activities to purchase their product or promote him to link his interests 

 him and defend the quality of the product. This is what raises his shoulders guarantee bank 

      of government that are imposed in the foundation stage only. 

• Islamic banks generally operate under (verse 18 of Al-Hadid) 

(and lent God a loan) and the holding of the loan is intended to kindness to people and helping them to the affairs of life and not a means of earning and a method of exploitation methods where broken borrower from his bottle of obedience to God. 

(d. Sadeq Rashid al-Shammari / basics of investing in Islamic banks) 

and this enhances the relationship with the community of the Islamic bank or Islamic window and become economically and socially interactive economic structure. 

still liquidity cash stuck a problem and this investment by the savings of four million employees and more than three million retired and become an excellent pot to deal with him as to reduce consumption and reduction of import supposed to be heading amounts to waste this positive savings.

[yota691]

World Bank performs bond program for the Middle East by the spring

 

 

Posted: Friday, November 20, 2015

BEIRUT (Reuters)

A senior official at the World Bank said that a new international program for bonds and grants may enter into force by next spring, in order to assist States to face the repercussions of war and instability in the Middle East and North Africa.

Said Hafez Ghanem, World Bank Vice President for the Middle East and North Africa Zone Group Investment Plan target type, and the goal of education and infrastructure investments and jobs, is essential to cope with refugee crises in the region.

 

 

He added that humanitarian aid alone is not enough, and that the alternative is «the loss of a generation or two» in an area with 15 million refugees and displaced people inside me. Ghanem's comments came during a visit to Lebanon, which suffer to cope with the presence of more than one million registered Syrian refugees on its territory, representing a quarter of the country's population.

 

He said «the support provided to us demands an extremely high level at the moment and will increase, because in a time when peace is through the political or security procedures should give people hope and opportunity to hold this peace.» He said «we seek to gather more resources and for this reason we proposed this mechanism for financing».

 

 

Last month, the World Bank and the United Nations and the Islamic Development Bank announced the initiative, which will ask which of the donor countries to provide guarantees for the bonds aimed at collecting funds for certain purposes, including supporting refugees and reconstruction in order to allow the displaced to return to their homeland.

 

The initiative comprises the issuance of Islamic bonds (Sukuk) aimed at investors in the region where conflicts are raging in Syria, Iraq, Yemen and Libya.The proposal also includes a demand of donors to provide grants to reduce the interest of the countries that host refugees rates.

Ghanem said «If we agreed and we have succeeded in the preparation of this matter, you will not be a deal carried out at once. It is something that should be applied over several years as well as the work required and projects that require implementation can not be one of us to be carried out very quickly size. »

[yota691]

Islamic banks .. Between al-Shara and the economy

 

 

         

11/29/2015 0:00 

 Dr.. Acer Yassin 

 current circumstances experienced by the Iraqi economy from the beginning of the recession could be long requires us to deal with all the data available in the economy and revitalize and re-breathe life into some of the doors of economic 

 activity, including the Islamic banks which restricted its unfair competition from some of the Iraqi private banks, which were based on dealings in the currency auction of the Central Bank of Iraq in the conduct of its business and achieve sustainability of its dominance of the data of the Iraqi banking work without a guarantee in the financing of real processes of development in the Iraqi reality and the survival of its ink on transactions and transfers paper marred in the last period a lot of suspicions of money laundering. 

All these data pushed the number Limited of Islamic banks to adopt investment formulas distance it often from the provisions of Sharia and Islamic approached from traditional commercial banks, albeit an Islamic cover such as Murabaha formula to buy something and which we find unfair for its intended role of Islamic banks, which are financial institutions working to assemble savings and investment as best suited not inconsistent with the provisions of Islamic law, adoption is based in its dealings on the Islamic modes of financing of acts of banking and finance and others to meet the needs of emerging economic sectors in order to collect specific share of Murabaha is the information from this process and its distance through it from any suspicion of usury is forbidden. 

We first of all start can confirm that righting the foundation for the establishment of Islamic banks is to meet the requirements of the users are trying to reconcile their need to finance or invest their money within the framework of Islamic law and in line with founded in the prohibition of usury in Islam, but it remains in line with the vision of the Islamic to the role of money in economic and social development and salvation the man of the cases of destitution and ignorance and to the existence of a divine control over the employment of money these banks being Mstkhalafa on that money and an accountant before God Almighty to use it for the money and move it to the active investment to serve the community and directs for the purpose of compactness, monopoly and based on the fact that it agrees with the commercial banks in the investment is the lifeblood her and the sustainability of its work requires investment efficiency. 

for the sake of the advancement of the Islamic banks in Iraq, we need to look at alternative ways, including the establishment of an Islamic joint-stock companies shares are traded among partners and trading profit in line with Islamic law by participating different its methods most important of which fixed and fixed MMP and participation which vary in Mdyatea through the first fact is characterized by the contribution of the Islamic Bank to finance part of the capital of the company or 

 project is thus a partner in the ownership until the end of the project period and the company or duration identified under the project, which could take the form of a fixed part of 

man-made laws. 

 As Figures other two of the partnership have the right partner, which replace the bank in the ownership of the project replaced the Islamic Bank especially in cases where individuals do not wish to continued involvement of the bank to them which is called «MMP». 

Such trends in the employment of funds Islamic banks and the introduction of the money deposited in an episode of internal criticism and turn them into development projects targeted by specialized companies, would all of this to come out of Islamic banks from the collar Murabaha-profit between the price urgent and term, which targeted the consumer side limited to the needs of individuals rather than a response to requests sectors development and production of medium and long term foreign to any risk by the bank on its investments and without any need to examine the client's accounts. 

which weakens its authority jurisprudence for the loss of an element participating in the risk in the event of loss and exit from one of the basic principles of the economic system of the Islamic a «sheep although» which It calls for the approval of Justice of the transactions and the inadmissibility of the financial institution to ensure Mganmha and take a loss or pays the responsibility of others. And this will make it difficult for the 

 business-minded Islamic obtain the required for their projects funding the fact that Islamic banks seeking to edgewise risks in order to achieve revenue almost stable and weak through orientation towards Murabaha sterile. 

Stresses of modern international studies the importance of Islamic banking mechanisms in reducing the impact of financial crisis Global being the deal values 

 ​​the real and not the nature of speculation that are highly volatile cash transactions and carries with it the risk to depositors and borrowers. 

 In addition to meet the needs of Muslim communities in the channels to find to employ excess of their money without getting into problematic dealing in riba and made ​​available to entrepreneurs who are serious about the use of these resources in accordance with the principles of Islamic banks Kmstkhalafan on that money for the benefit of overall human development.  

[yota691]

Islamic Banks Association announces the presence of 17 Islamic banks in Iraq

President of the Association of Islamic Banks of Iraq Sadiq al-Shammari

Economy News Baghdad: The Chairman of the Association of Islamic Banks in Iraq, Sadiq Al-Shammari, called for the establishment of a market for the capital of Islamic banks and the creation of long-term instruments that enable these banks to diversify their sources of financing and expansion in granting, and address the imbalance in their budgets and how to manage liabilities and assets. This would help to engage in projects in a variety of formats available to the sector. Al-Shammari stressed in an interview with the London-based Al-Hayat newspaper that the Islamic banks should set up specialized investment departments looking for opportunities, planning future financing and preparing feasibility studies. He said such a move would "allow banks to take integrated investment decisions and thus reduce the risks of financing in Musharaka and Mudaraba." "The Central Bank of Iraq requires Islamic banks to provide funding for a large bank consortium, which will overcome the small size of existing banks' capital and their limited capacity to finance such projects," he said. Al-Shammari said that the reconstruction and construction phase in Iraq "needs to mobilize the self-capacity and secure investment opportunities from all sources and all citizens, making the mechanisms of Islamic banking work a necessity." He pointed out that the activity of Islamic banking "began to exceed the scope of the work of conventional banks to include the accession of a number of Western banks globally," pointing out that the "Citibank" American, one of the top five banks in the world and "Flemming investment" Operating in accordance with the patterns and activities of Islamic banks. "In addition," a number of international and Arab banking institutions have begun to experience the experience of Islamic banks through the establishment of special departments or branches for this type of banking. "" This shows how important it can be These Islamic banking institutions in the Kingdom Accept, and areas of development and in providing advanced and innovative products. " He considered that "the issuance of the Islamic Banks Law No. 43 of 2015, is seeking to restore Iraq's role in attracting investments as an advanced center in the region, especially as the law exempted Islamic banks from some restrictions governing the operations of conventional banks, although this is due to the different nature of deposits And funds deposited in Islamic banks. " Al-Shammari stressed that "such steps will push Islamic banks to play a bigger role in the economic cycle, because they differ from traditional banks. They are not only the role of financial intermediation, but also their activities to direct trade and investment." And thus be "closer to the objectives of the comprehensive bank, which include social, developmental and religious areas and the welfare of society." He explained that "Islamic financing formulas are characterized by high flexibility, which makes them always develop and innovate suitable formulas for each type of financing." The growth of the number of institutions, customers and assets since its inception in the late 1960s has not been overlooked. He stressed that the Islamic financial and banking industry "is one of the fastest growing banking sectors, as the growth rate exceeds the traditional banking sector." He added, "The Islamic financial and banking industry is witnessing a great development, especially in terms of improving the quality of services and creating new products to reach a wider customer base." "The essence of Islamic banking lies in its distinctiveness from traditional banking, both in terms of savings mobilization tools and in mechanisms for providing financing for investment and commercial activities for individuals and private and public institutions." Therefore, he called for the necessity of "developing and developing its products and financial and banking tools, so as to consolidate the banking base without interest, because the development of financial instruments is the cornerstone of its efficiency of mobilizing savings and directing resources on investments and financing needs." Al-Shammari said that Islamic banks "have a fundamental role in achieving social development and making a qualitative leap in the world of banking and encouraging and stimulating economies, in accordance with the Islamic Shariah rules." The number of institutions providing Islamic services in the world "increased from about 955 in 2013 to 1,113 at the end of 2014, operating in 75 countries and the number of customers around the world has reached 100 million, yet more than 75% The Islamic sector is not exploited, and the sector still has a large capacity that can accommodate more dealers. " He concluded that the Islamic banks in Iraq, which currently number 17, have acquired an important part of the Iraqi market, especially after the enactment of Law No. 43 of 2015, which organized the operations of Islamic banking in Iraq, should be expedited the issuance of instructions for the implementation of the law in question, Of Islamic banks with a capital of $ 3 billion. "

Views Date Added Date 30/06/2017 Content number 8054

[Laid Back]

Why all this banks want to do business in Iraq, when Iraq has a worthless currency?

 

Follow the bankers.... Follow the money 

 

Go new monetary policy 

Go $1:1

[8th ID]

6 minutes ago, Laid Back said:

Why all this banks want to do business in Iraq, when Iraq has a worthless currency?

 

Follow the bankers.... Follow the money 

 

Go new monetary policy 

Go $1:1

I agree with ya Laid Back!

[Scott McD]

40 minutes ago, Laid Back said:

Why all this banks want to do business in Iraq, when Iraq has a worthless currency?

 

Follow the bankers.... Follow the money 

 

Go new monetary policy 

Go $1:1

Totally agree Laid Back.

Bankers won't do feck all without it being worth their while!!

Security is almost fully in place...although I still think removing Maliki from the gene pool is the final part for a secure country.

Show me the money!!

Go RV!!!