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 June 23, 2019
The Central Bank of Iraq begins the establishment of a Takaful insurance company for Islamic banks

 



The Central Bank of Iraq announced the start of the establishment of the insurance company Takaful Islamic banks in cooperation with the Board of Insurance with a capital of (15) billion dinars with the participation of all Islamic banks.
 
The Central Bank issued the company's Takaful controls according to the standards of the Islamic Financial Services Board (IFSB) and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), considering that the Takaful Insurance Company represents the second strategic objective of the comprehensive strategic plan of this bank in the development of Islamic banking industry and transactions, (2016-2020).
 
The central bank said the move would pave the way for its recent move to Islamic capital markets through the issuance of the Investment Sukuk Act to complement the Islamic economy in Iraq. 
It is noteworthy that this company is subject to the Regulation of Insurance Acts No. 10 of 2005 and the Islamic Banks Law No. (43) for the year 2015.
 
Central Bank of Iraq
information Office
23 June 2019
 
» For the Takaful Regulations No. (1) of 2019  click here
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15850.jpg
 
  

 Banks


Economy News _ Baghdad

The Central Bank of Iraq announced on Sunday the start of the establishment of the insurance company Takaful Islamic banks in cooperation with the Board of Insurance with a capital of (15) billion dinars with the participation of all Islamic banks. 
"This move will pave the way for its recent move towards Islamic capital markets through the issuance of the Investment Sukuk Law to complement the Islamic economy in Iraq," the central bank said in a statement received by Al-Iktissad News. 
"The bank has issued its own Takaful controls according to the standards of the Islamic Financial Services Board (IFSB) and the AAOIFI." The Takaful Insurance Company represents the second strategic objective of the Bank's comprehensive strategic plan to develop the banking industry Islamic transactions and transactions, for the period (2016-2020) ".
It is noteworthy that this company is subject to the Regulation of Insurance Acts No. 10 of 2005 and the Islamic Banks Law No. (43) for the year 2015.


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Date of release: 2019/6/23 11:12  188 times read
The Central Bank is establishing the Takaful Insurance Company for Islamic Banks
The Central Bank of Iraq announced on Sunday the start of the establishment of the insurance company Takaful Islamic banks in cooperation with the Board of Insurance and a capital of 15 billion dinars with the participation of all Islamic banks.
"The bank has issued the company's Takaful controls in accordance with the standards of the Islamic Financial Services Board (IFSB) and the AAOIFI," the bank said in a statement. "The Takaful Insurance Company represents the second strategic objective of this comprehensive strategic plan A bank in the development of Islamic banking industry and transactions, for the period between 2016-2020. 
"This move will pave the way for its recent move towards Islamic capital markets through the issuance of the Investment Sukuk Act to complement the Islamic economy in Iraq," the bank said. 
He pointed out that "this company is subject to the Regulation of Insurance Acts No. 10 of 2005 and the Islamic Banks Law No. 43 of 2015"
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The Central Bank is establishing the Takaful Insurance Company for Islamic Banks

11:33 - 23/06/2019
0
%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9

BAGHDAD - 
The Central Bank of Iraq announced on Sunday the establishment of a Takaful insurance company for Islamic banks in cooperation with the Board of Insurance with a capital of (15) billion dinars with the participation of all Islamic banks. 
"The Central Bank has issued the company's Takaful controls according to the standards of the Islamic Financial Services Board (IFSB) and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). The Takaful Insurance Company represents the second strategic objective of the plan," the bank said in a statement. The overall strategy of the bank in developing the Islamic banking industry and its transactions for the period (2016-2020) ". 
"This move will pave the way for its recent move towards Islamic capital markets through the issuance of the Investment Sukuk Law to complement the Islamic economy in Iraq," the statement said."Noting that" this company is subject to the Regulation of Insurance Acts No. 10 of 2005 and the Islamic Banks Law No. (43) for the year 2015 ". Ending / 25

https://www.almaalomah.com/2019/06/23/413267/

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Amazing timing. This is real positive. Thanks!

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Good morning Yota and DV - and thanks for the post.
 
Gregp - I am in complete agreement regarding the timing of this article...considering that it covers a 14vyear period I am more than pleased ti see it now!
 
 
The central bank said the move would pave the way for its recent move to Islamic capital markets through the issuance of the Investment Sukuk Act to complement the Islamic economy in Iraq. 
It is noteworthy that this company is subject to the Regulation of Insurance Acts No. 10 of 2005 and the Islamic Banks Law No. (43) for the year 2015.
 
Central Bank of Iraq
information Office
23 June 2019
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15 minutes ago, NEPatriotsFan1 said:

Kinda like our FDIC? This could be a good sign to help the people trust the banks for their deposits and exchanges

 

:twothumbs: I Agree!!!, NEPatriotsFan1, AND The Very Best Of Your Up Coming Week To You!!! :tiphat:

 

What I noticed is fifteen (15) billion Bicraqi Iraqi Dinar. Pretty MEASLY wouldn't YOU say???!!!

 

Unless.....................................................

 

The fifteen (15) billion Bicraqi Iraqi Dinar is a ReInstated Bicraqi Iraqi Dinar!!!

 

:o   :o   :o

 

Some Mythical Math HERE:

 

Say there are thirty-nine (39) TRILLION Bicraqi Iraqi Dinar in Bicraqi Iraqi circulation AND the three (3) zeroes get WHACKED:

 

39 billion / 15 billion = 2.60!!!

 

:backflip:   :backflip:   :backflip:

 

Well, OK, I DID NOT INTEND FOR OTHERS to "tap" THEIR "depends" "stock".

 

:lmao:   :lmao:   :lmao:

 

In The Mean Time..............................................

 

The "Standard" "Disclaimer" Applies................

 

AND (of course).................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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Takaful (Arabic: التكافل‎, sometimes translated as "solidarity" or mutual guarantee) is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia compliant alternative to conventional insurance.

 

In 2000 they introduced Takaful Insurance Solution to Kuwait market.  As first takaful operator, we were very keen to meet the Commercial, Industrial and Individuals with best takaful products to meet their requirements.

 

34 minutes ago, NEPatriotsFan1 said:

Kinda like our FDIC? This could be a good sign to help the people trust the banks for their deposits and exchanges

 

Like NepPatriotFan1 said, Kinda like our FDIC.

 

- Citizens and investors will gain confidence in the banking system 

- Financial inclusion will increase 

- Some of the chunky cash will get into the banking system

 

Go CBI

Go new monetary policy 

Go RV

Go $1:1

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20 hours ago, Synopsis said:

What I noticed is fifteen (15) billion Bicraqi Iraqi Dinar. Pretty MEASLY wouldn't YOU say???!!!

 

Yep! That’s a measly $12,000,000

 

Great catch synopsis!!

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1 hour ago, Half Crazy Runner said:

 

Yep! That’s a measly $12,000,000

 

Great catch synopsis!!

 

:twothumbs:Have Fun On Your Run TODAY With Your REALLY Fine Canine!!!, Half Crazy Runner, AND The Very Best Of Your Week To You!!! :tiphat:

 

Are YOU Revved???!!!

 

The Bicraqi Iraqi SWORE IN the Sinisters, er, Ministers OF Defense, Interior, AND Justice!!! THEE HARDEST ONES TO GET AGREEMENTS ON!!!

 

ONLY ONE (:facepalm3:   :facepalm3:   :facepalm3:) Sinister, er, Minister left - the Sinister, er, Minister of EDUCATION - THEE EASIEST ONE OF THE FOUR!!!

 

:facepalm3:   :facepalm3:   :facepalm3:

 

Well, OK, being the ETERNAL OPTIMIST, TODAY is Monday, June 24 with six (6) daze, er, days left in June to complete the cab'net - THEE easiest ONE!!!

 

Typically, the Bicraqi Iraqi NEVER miss an opportunity to miss an opportunity but maybe BABY THIS BABY will get DONE, DONE, DONE!!!

 

LOTS AND LOTS OF GOOD NEWS POURING IN!!!

 

Maybe BABY !!!BAM!!! !!!SUDDENLY!!! IS NIGH UPON US!!!

 

:backflip:   :backflip:   :backflip:

 

Hopefully, the Interior Sinister, er, Minister, HAS NO ties to the Insanians, to INCLUDE the Insanian IRGC since THIS position is a critical role for managing the projects and funding for the Bicraqi Iraqi to AVOID financial mismanagement AND associated corruption.

 

IF SO, I suspect OTHER pieces will RAPIDLY fall into place AND THEN WE WILL ALL BE OFF TO THE RACES!!!

 

In The Mean Time..........................................................................

 

The "Standard" "Disclaimer" Applies............................................

 

AND (of course).............................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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32 minutes ago, Synopsis said:

Are YOU Revved???!!!

 

You betcha daddio!!! 👍🏻

Revved & ready to get this partay started!  

:mexican:

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30 minutes ago, Half Crazy Runner said:

 

You betcha daddio!!! 👍🏻

Revved & ready to get this partay started!  

:mexican:

 

:undocumented: Oh, YEAH!!!, Half Crazy Runner!!! :undocumented:

 

Go Moola Nova!

:pirateship:

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1 hour ago, Synopsis said:

 

:undocumented: Oh, YEAH!!!, Half Crazy Runner!!! :undocumented:

 

Go Moola Nova!

:pirateship:

Really curious what you think.. do you really think that once we get a seared government we get an automatic RV? Hard to fathom. To many bumps in the road over the years. 

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Seated GOI-HCL-Article 140 = RV then we really go nuts. More so

than now  :lol:

28 minutes ago, Jaygo said:

Really curious what you think.. do you really think that once we get a seared government we get an automatic RV? Hard to fathom. To many bumps in the road over the years. 

 

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Laid Back

  • Om sai Ram
  • Laid Back

 

On 6/23/2019 at 10:05 AM, Laid Back said:

Takaful (Arabic: التكافل‎, sometimes translated as "solidarity" or mutual guarantee) is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia compliant alternative to conventional insurance.

 

Takaful : Hawaiian For Hammock Boy To Tak-a-ful Nap ! :o 

 

 

Go Hammock Boy !

Go Power Naps !

Go Nite-Nite !

 

:D  :D  :D 

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1 hour ago, Jaygo said:

Really curious what you think.. do you really think that once we get a seared government we get an automatic RV? Hard to fathom. To many bumps in the road over the years. 

 

Maybe try some of THESE "tutorial" "videos" to "soothe" THEE "wait":

 

 

THIS WITHOUT The Funkae' "dance" "moves":

 

 

NOW that WE are in a MORE "relaxed" AND "communicable" "mode" ..........................

 

:crossedfingers:   :crossedfingers:   :crossedfingers:

 

WHY, pray tell, get ALL UPSET about a "seared", er, "seated" Bicraqi Iraqi Gubmint???!!!

 

MY (NOTE: MY) determination is I DID NOT SAY, "I (NOTE:I) really think that once we get a seared government we get an automatic RV"!!!

 

Sure LOOKS GOOD, THOUGH WOULDN'T YOU SAY, JayGo???!!!

 

MY (NOTE: MY) opinion is NOBODY KNOWS THE EXACT CONDITIONS FOR AN INTERNATIONAL ReInstatement OF THEE Bicraqi Iraqi Dinar IF THERE WILL EVER BE ONE!!!

 

I REALLY THINK AN INTERNATIONAL ReInstatement OF THEE Bicraqi Iraqi Dinar, THOUGH, AT A TIME LEAST EXPECTED!!!

 

WHEN AND HOW MUCH???!!!

 

I dunno.

 

I (NOTE: I) ONLY offer MY (NOTE: MY) Connect-The-Dots.

 

TAKE IT OR LEAVE IT.

 

Well, OK, A MOST EXCELLENT IDEA to "review" THEE NOTED "tutorial" "videos" AGAIN LIKE YOU, JayGo, SO NEED TO DO NOW!!!

 

Relax!!!

 

Here are some kwinkie dinkies:

 

image.png.6649e6a389cf107fff61f612baf2ff0d.png

 

image.png.48adb48e96de9975e6945414d0a50b5c.png

 

Image result for July 2019 calendar

 

ALL of THESE July 4ths OCCUR ON THURSDAY!!!

 

Back in 2013, I had a feeling at the time of July 4, the Bicraqi Iraqi Dinar would revalue. DID NOT HAPPEN. Looking back, THERE APPEARED TO BE A PUSH TO GIT "ER DUN THAT ALMOST HAPPENED???!!!

 

Well, OK, CONJECTURE AT BEST.

 

Well, OK, maybe BABY ignore.

 

HOWEVER.........................................................

 

WHEN, pray tell, in RECENT HISTORY HAVE THINGS BEEN ANY BETTER FOR AN INTERNATIONAL ReInstatement OF THEE Bicraqi Iraqi Dinar???!!!

 

I WILL NOT SAY THE INTERNATIONAL ReInstatement OF THEE Bicraqi Iraqi Dinar WILL OCCUR ON OR AROUND JULY 4, 2019 ONLY THAT CONDITIONS DO LOOK REALLY, REALLY GOOD NOW THROUGH EARLY THE FIRST FULL WEEK OF JULY!!!

 

In The Mean Time..........................................................................

 

The "Standard" "Disclaimer" Applies.............................................

 

AND (of course)..............................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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Seared.. seated... damn!!! 😂 I type to fast on my phone and Who has time to proof read!!!! 😭

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1 hour ago, Jaygo said:

Seared.. seated... damn!!! 😂 I type to fast on my phone and Who has time to proof read!!!! 😭

Did mine the same way. Was following this all day at work. Really looking good for us.

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7 minutes ago, ChuckFinley said:

Did mine the same way. Was following this all day at work. Really looking good for us.

I so hope so Chuck. Not going to get too excited yet. Been here to long!

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43 minutes ago, ChuckFinley said:

Same here, over 15, but this is the most positive I have seen it. 

Truth!

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