Next month will see the launch of home loans in accordance with Islamic window of up to $ 200 million.

[Dinar_o'saurs]

This is a little old but didn't see it on the boards.......

 

Created on Monday, 04 February / February 2013 10:49

 

 

Interviewed by: Ammar Menem - Zuhair al-Fatlawi

    The head of the Rasheed Bank Kazem fistula that Rasheed Bank has achieved the quality of mutations at the local, Arab and achieved an increase in profits and deposit ratios

  In the past year up to 30% also achieved an increase in credit extended by 29%, despite all the obstacles.   He noted   That the bank will be celebrated this year's silver jubilee and there will be a celebratory get for the first time because of the Rasheed Bank ranked (51) among Arab banks also said fistula that the loans and projects offered by the good road will contribute to the support of sectors of development, employment and reduce unemployment and filling the needs of groups downtrodden and widows   And vocational sector bank will also support large-scale housing projects and investment projects and the mixed sector companies.

    ·   You talked about the Islamic window loans who put موخرا in the media?

    -      You know that Rasheed Bank opened a window Islamist exercise to work according to Islamic law, and where something different from the loans, which are on commercial terms, and among these differences, the ceiling for lending for commercial purposes, no more than 50 million dinars, ie a hundred salary, while in Islamic banking There is no such selection, the loan may reach to 200 million dinars,   And that sales are   Immediately without a grace period, as is the case in commercial lending, and that the borrower بالصيرفة Islamic be has the potential to actually pay premiums capacity higher than the employee's ability regular who shall make payment on according to commercial banking, so the ceiling available for lending بالصيرفة Islamic maximum is (200) million, and there is no reservation on Advanced, but includes all citizens, whether employees or gaining or factor we have started to receive applications and is very close to call   Lending directly, in a period not to exceed the first week of next month.

    Do you have a specific amount made ​​for the window?

    -   Islamic window was founded in the Rasheed Bank with a capital of 25 billion dinars, a little amount is not enough of the need for capital is completely isolated from commercial banking   , While commercial banking trillions of dinars granted for lending for housing purposes, so we asked the Finance Ministry to intervene in order to raise capital by reference to the competent authorities, and did not get it yet.

    ·   That there was a profit through Islamic banking, will be added to the bank or is it that there is a mechanism of its own?

    -   There are instructions from the Iraqi Central Bank governing work in pure Islamic, there is also the legitimacy of the bank's look at the transaction, subject accounting which to the general system of accounting, and extract profits at the end of the year and recorded in the profit college, as one of the hands of the Rasheed Bank is the window of Islamic , a state-owned   And the public sector, and ownership in general and his money in general, and the law of the collection of government debt applies to the bank, as public funds, it is transmitting profits at the end of the budget after the complete budget window Islamic and balancing business, Vidmj profits and gives quotas to the Ministry of Finance as determined by the law and keeps the rest for the purposes of expansion and management of the different processes needed by the bank.

    ·   What is the ratio of benefits or Morabaha?

    -   No interest rate in Islamic banking, but is the process of Murabaha and post, no values ​​imposed by the buying and selling and subject to the agreement of the parties by mutual consent and there is no where as in business Regular commercial banks, they are in fact now up to 10% - 8% per annum   The passage of time will be devalued with increasing premiums for which payment may be up to 15 years instead of 10 years. It is less of business profits,   And we are God's help, we have completed our preparations in terms of training and capital, accounting and administrators and the Shariah and took our stage instructions and controls work and we have given approval for the number of housing projects collective supposed it would be more useful to citizens registered as cities integrated services, and the waiting period is not long, where the possibility of Family moving to a new home over a period of six months or nine months without search of land and construction company as it happens in the present time, where he presented the bank and through the window of Islamic number of projects in accordance with Islamic finance is continuing on this subject in the course of this year in projects, but capital is still small and there are plans to increase the sources of funds including Islamic window allows enabling them to give the largest ceilings and the inclusion of the largest number of requests.

    ·   Is there a specification in Advanced Kalratb person?

    -   There are no specifications in the developed person, it's different for Islamic banking, for example, the $ 200 million is divided on the (10) years to come, no monthly premium would be less than a million, with interest.

    ·   You announced that you have services ستقدمونها through this year, what are these services?

    -   We included the staff of the mixed sector advances of $ (3) million, was awarded to quite a few of them and still continuing, and the second project is a project by the Rasheed Bank to finance the needs of the productive for women widows and this is a subject in which the objectives of social as well as economic goals, and the aim is to assign the bank for this Ladies and their families in order employed in workshops or laboratories productivity and shops simple, ie, that Ms. exercised pursuant through which you can sell excess production to the local market, and try to Nadim project down, one of the conditions that combine nature of the work chosen and capabilities, ie if they have a university degree or a professional in the doors of professional work كالتطريز or other things that تجيدها lady in different processes, and this needs to be some coordination with organizations that sponsor this aspect with a view to propose a number of business and the development of values ​​to them, for example, buy a plant simple Lajh cotton in order to operate it cushions, mattresses and other through a small shop, or in the Shop Manual carpets, and so on .. These projects extract total value, فالمصرف gives advance to Mrs. value of this project is low-interest, so that the lower prices in the banking market of Iraq, and this is our project, which will be introducing the Ministry of Finance in order to take approvals do, and we work this year, in addition to the development of small and medium enterprises which is one of the concerns of the United Nations and the bank already   And practiced during the past three years and has benefited thousands of citizens in different governorates of Iraq, and some of them during the last two years, the expansion of this lending became its potentials to borrow larger amounts on commercial terms, we may هيأنا roof between (2-20) million for this purpose without the need to provide a guarantee real estate in order to make it easier for the owner of the shop or lab small to exert his work without having to make a drug, has اشترطنا the entrepreneur with the (10) or (20) million to be with him worker or workers and their salary throughout the year, In other words we've run a family or two families in this project small, we ماضين expand it and increase the ceilings and gradually changing work patterns gradually whenever the need arose economic to the type of work, that was, service or productive, and therefore have our bank has helped run the manpower on hand, take out products to the domestic market may have a competitive market with goods and services that comes from abroad, and have been built for potential customers to grow year after year, in order to be able to get more money and enter into employment contracts and projects bigger than the other thing.

 

    ·   Other services, such as cars?

 

    -   We are continuing this aspect, has been the Rasheed Bank launched an initiative for the first time to replace old cars and tired and went out a long time and the problems, a new one, and actually has been replaced many cars and preferred initially public transport vehicles in excess of 12 passengers, such as Coaster Cars and works on the lines of passenger transport, the aim of this initiative is to create a good environment and a comfortable car and good for travelers because it is worth it, the fact that the country one of the richest countries in the world, and this initiative is available to all provincial councils in all of Iraq, and we have a wide range of types of cars, including tutoring Taxi and productive, and we added him all the mechanisms involved in the construction and development, funding فنستطيع Contractor equipment and vehicles, and we can finance well as peasant mechanisms necessary for its work and in installments.

 

    ·   What is the amount allocated to these projects?

 

    -   The amount allocated by the Rasheed Bank for these projects ranges between (17 - 40) million, and if the values ​​of top equipment, the owner of the loan   Adds them of his own money.

 

    ·   But there are projects announced by Direct has them, but the funds allocated to them have been implemented?

 

    -   For an advance percent salary that is less advance (30) million, multiply it by 4 million Iraqi employees, then we need to budget for Iraq, in addition to the budgets of a number of other countries, has   The calculations assume that 30% of state employees do not have homes, and these larger hypothesis we have, but it turns out that everyone does not have the housing and all competing to get the loan, and a large portion of them got the loan without the need of him, and another department did not provide support property stipulated in the loan, so it is in order to protect public money and in order to not go money to consumption rather than building as they are monitored and OK in the decisions of the bank and the approval of the Ministry of Finance, forcing the bank to modify the instructions and decisions including emphasizes the use of the amount for the purpose of housing, including confirms that the borrower is really needy and not a yuppie, we say that these few liquid funds in general, a bank and the money is not the public treasury funds.

 

    

 

    ·   What are the reasons for the delay in lending?

 

    - Our plans for the current year is different from the previous year, in the current year we get projects, many of financing, before the weeks we've funded the largest housing project in Iraq, which is a project بسماية, where he helped the Rasheed Bank's share of not less than 400 billion dinars, equivalent to 10% of the cost of the project, and has the additional amounts other during the progress of the work, and have contributed to the large-scale projects in other country, such as the Ministry of Finance who needs a trillion dinars, and the draft Ministries and other departments in the various provinces, where we have funded and pledge to do so and at a cost of tens of billions or even hundreds of billions , and therefore funding will go to the projects of public interest organization in which services, such as housing services, transport and communications and networking, education, health, roads, water, Instead of to give the borrower money this dispersion and the borrower is exposed in a period of grace that we have identified six months, to the many cases of tunnels have it, for non-housing purposes, and when the six-month deadline, when he can not will purchase and can not refund the amount.

 

    ·   Do Advance   Exist now or not?

 

    -   Advance   Now at the stage of amendments and we try to keep this activity continues, but must we identify in order to achieve his goals, plugging these gaps, and the gaps that emerged, including the lack of Sindh, and the gap commentators and the amounts to be paid here and there is an error, and unlike the instructions and laws, and a loophole that beneficiaries who are not needy , and these gaps are trying to fill them with instructions سنضعها in the current year, and it is important that we continue this activity as part of the work that practiced by the Rasheed Bank and continue in a part of its budget each year geared to the construction sector and housing, but each year it controls in terms of the interest rate, duration, and aggregate amounts and ceilings college.

 

    ·   To any ministry doling out loans?

 

    -    We give loans to (12) and the Ministry of continuity and when we enter at the end of each year, everything will depend, in financial institutions, budgets and audits, auditing, and then placed the opening balances and decide the amounts according to needs.

 

    ·   For housing loans, the House of Representatives said that we raised interest rates for housing loans, but Rasheed Bank continuously benefit?

 

    -   Rasheed Bank Bank is not due to the authority of parliament, he is a commercial bank and works with funds of depositors, who open savings accounts or deposit and take the benefits of it, Rafidain and Rasheed banks independent operating in the market with funds of depositors, they are not safe in general, part of the profits go to the public treasury   But owned by public institutions at the end of the Iraqi state, but its associated business rules, even if there was such a hypothesis would have been the closure of banks, because depositors withdraw their money, and then run dry of resources from banks.

 

    ·   The central bank to reduce the interest rate demanded reduction is financed from the general budget?

 

    -   This is another topic, but it is important that the cost banking prescribed benefit must be collected by the bank, either from the borrower or from the public treasury, the important collection of cost, in order to pay interest to depositors profits 4 or 5% and the remainder from the sidelines pays its staff salaries and rent buildings.

 

    ·   What percentage of the profits earned for the year 2012?

 

    -   Profits increased by tens of Dilution from the previous year, and also the deposits that have been achieved are more than previously estimated 30% of the market, ie the total deposits in the past year we have achieved an increase from the previous year by 30% and this is a significant proportion in the banking business, then we have achieved an increase in credit granted بمماثلة almost about 29%, which was pumped additional credit in the market and our main economic sectors, service and productivity of the public sector and the mixed and special in all parts of Iraq, and this work is not easy, and we thank God, despite the difficult circumstances that surround us and the employees and takes بفروعنا and electricity problems and the problems of fuel as you know , and we have achieved productivity proud and this year we celebrate the silver jubilee of the Rasheed Bank and will be your newspaper metropolis in November and there will be a celebratory get debut Foundation Iraqi known have a reputation of Arab and international and now Rasheed Bank occupies a reservation is unacceptable for us, however, is ranked (51) in Arab banks, and this year after he graduated indicators will rise in rank and will advance more and more, is planned to be the Rasheed Bank in a rich country like Iraq, has a wealth of important and big, and when the people need and spender in all areas of spending in an environment where a large investment will reach Rasheed Bank size work to the mattress first among Arab countries, which is in fact achieved two years ago, gives loans to individual project more than five (5) million, and this does not exist in any Arab bank, Arab Bank now does not give the project an individual to a person more than a million dollars, and Rasheed Bank able to give (5) million, in the past year rose to 20 million for the project individually, either group projects owned by large companies It gives tens of millions in this section, and the intention is to support and assign development plans according to its law and rules of procedure and operation of his money operation Hassan for the public benefit and asks guarantees strong to ensure the collection of his money in entitlement, even loans for housing for state employees, there to ensure personal addition to the support of the property, and the guarantee of insurance, but this is not required for the bank, but required that the borrower already has bought property to house his family and achieve the goal of Therefore, the bank otherwise be forced to change the style of the way to ensure that lending to achieve these goals, God willing.

 

    ·   You announced for the bank to open a branch in particular journalists and provide   Loans for journalists?

 

    -   We are involved procedures, Press Association and the Union of journalists and trade unions and unions Enterprise Law, which is represented by a single person in Iraq and has branches in the provinces, Hmlnaha all banking services, where we have given housing loans and loans to small businesses to set up offices of the accountant office and press information office, and the doctor office.

 

    ·   There is a tendency for the establishment of the Association of Iraqi banks and there is an intention to belong to the Association of Arab Banks, what will it add you to the this association?

 

    -   Yes, there is a tendency to collect all the banks in the Commonwealth of one, and we would withdraw from the public sector,   Because we occupy 90% of the area of the banking business in Iraq, we are leading in the arena and give a lot of our time to other organizations, we do not need this association, but we have good in Iraq, the Association coordinate the work of the banking system and progress Consulting   And attend some meetings which belong to the private sector and also Nklvha the publishing and literature assignments in Iraq banking for its development, and the principle of   Make it the Society for the introduction of public banks   Exists, but I think needs time and generally Iraqi banks represented by the Union of Arab Banks, the speaker is the representative of the Iraqi banks in the Union and member of the Board of Directors of the Union and many of the services of international and Arab get it through the European Union and share with him in most of the conferences outside of Iraq, and the delegation of the Iraqi banking is the biggest delegations Arab has become now that the number of Iraqi banks to more than 45 bank and institution marker control and that's good, but establishing an association is useful, no doubt, be united, we may Astadhana by Coordination Committee banking in previous years, said a committee at the CBI headed by employee large, and where the members of each of the banking system manager or assistant commissioner, and consider a number of banking issues that arise in international and give an advisory opinion for the banks, the department works and the other sees the extent to which its decision with the orientations of which are useful.

 

    ·   What is the sequence Iraqi banks Other Kalravedan, the TBI and   TBI In the Arab rating?

 

    -   TBI Was accepted in the sequence on the basis that the bank's capital TBI Is more than our capital, of course, but work and the total budget for our biggest, and Mesopotamia did not appear sequencing Unfortunately say while Iraq is one of the top ten and was one of a hundred bank in the world, God willing, will restore his strength as a bank heritage in the country, which was founded in 1941 and opened the first branch in Beirut in 1947 and then in London and was followed in Cairo, Jordan, Yemen and other countries.

 

    ·   Do you have to your bank branches in the states?

 

    We strive to find our branches in a number of important countries with Iraq, or at least buy stakes in banks there to Nstmiha the list to promote and deal with the Iraqi banking transactions.

 

      * Mixed-sector companies are suffering from scarcity of financial resources, the need to loans   And restore activity. How do you support?

 

    -    I had a treatment belonging to the mixed sector to Al-Hilal that need a large loan from the bank, and we do not have mind if I got the necessary approvals as the sector was mixed and provide adequate safeguards, because the bank to the public sector, and kindly snapped money, and there must be economically feasible to develop These funds are in place.

 

    · What about the torn currency?

 

    -   Central Bank replaces constantly currency damaged by the banks we use the money misused, where we put in the pocket Abanntron (الكابوي), which leads to tearing, or put them in places that are not safe and Ntdolha fist down and supposed to use the card and we are still behind in this section for conditions known   And a lot of traders do not accept the deal cards and electronic payment, but they want alive and they see with their own eyes, this evolution has objective reasons we can not change easily, and Western countries, replaced by cash card, while we so far did not use instruments and do not accept them, but be Cash (cash ), Venanaj to awareness banker.