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E-TIB Internet banking services

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E-TIB Internet banking services Empty E-TIB Internet banking services

Post by claud39 on Thu Jan 23, 2020 1:44 pm

E-TIB Internet banking services

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According to the decision of the General Assembly in its meeting on 5/12/2019, which includes increasing the bank’s capital from (100,000,000,000) one hundred billion shares to (150,000,000,000) one hundred and fifty billion shares, according to Article (55 / First) of the Companies Law No. (21) of 1997 The rate, by offering new shares for subscription amounting to (50,000,000,000) fifty billion shares, the value of one share is one Iraqi dinar, in a bank .. So the board of directors calls the shareholders and the generous public, to subscribe to this increase, as follows:

Article 1:

• The Company's name: 

Spectrum Islamic Bank for Investment and Finance (private shareholding).

second subject:

Company Center:

The main branch is in Baghdad

• He has the right to open branches inside and outside Iraq and according to an annual plan of the company after obtaining the approval of the Central Bank of Iraq. He also has the right to move the main branch or any of its branches or close or merge any branch after obtaining the approval of the Central Bank of Iraq.

Article Three:

The purpose of the company, the nature of its work and activities:

The bank aims to provide financial and banking services consistent with the provisions of Islamic Sharia to contribute to the development of the national economy as much as its available capacity and for this purpose it is practiced for his account or for the account of others inside and outside Iraq all aspects of known and innovative banking activity and all the various Islamic banking and investment activities in a manner that does not conflict with the provisions of Islamic Sharia and standards The Islamic Sharia and Accounting International and the laws of the Central Bank and Islamic banks enforce and the instructions issued pursuant to them, and in this way he has the right to carry out the following activities:

• Receive cash deposits (in the form of demand deposits, time deposits, restricted or unrestricted deposits, or other types of deposits) or any other funds payable without interest in accordance with the provisions of Islamic Sharia, Islamic International Standards, Sharia, and the Islamic Banking Law in force and the instructions issued according to it.
• To commit to operating, investing and investing the amounts of deposits deposited with him under an agency contract against a specific fee only or taking a specific fee plus a share of the profit generated from the investment process in the event that it exceeds a certain limit mentioned in the contract in advance and that the depositors ’money be disbursed as agreed upon upon deposit The provisions of Islamic Sharia and Islamic Sharia and international accounting standards.
• Establishing investment portfolios and investment funds and issuing joint opposition instruments or dedicated opposition instruments in accordance with what is determined by the Central Bank of Iraq.
Establishing mutual insurance funds for the benefit of the bank or its clients in various fields.
• Accepting commercial and financial papers for safekeeping and collecting the rights arising therefrom from their owners and paying the collection of Sukuk, exchange orders and authorizations unless they include interest or violate provisions.
• Providing clearing, settlement, and transfer services for transportation, securities, payment orders, payment tools (including sukuk and credit cards), debit and other payments, tourist networks, bank transfers, wire transfers, prepaid debit and credit amounts, as well as providing services as a portfolio manager or as a financial advisor or financial advisory agent with Observe the Central Bank of Iraq law, the Islamic banks law, the effective electronic payment system, and the instructions issued pursuant thereto, in a manner that does not violate the provisions of Islamic Sharia and Sharia and accounting international standards.
• Preserving and managing valuables, including securities, and providing safekeeping services, in a manner that does not violate the provisions of Islamic Sharia, international legal standards, the applicable Islamic banking law and the instructions issued pursuant to it.
• To carry out research and studies related to the establishment of projects, economic feasibility studies and the employment of others for this activity, as well as conducting special studies for the account of his clients and providing information and advice to them.
• That the bank participate in the Federation of Islamic Banks and exchange experience with the Islamic Development Bank and Islamic banks in all parts of the world.
• Owns movable and immovable property, sells, invests, leases and leases, including reclaiming owned and leased lands and prepares them for agriculture, industry, tourism and housing, after obtaining approval from the Central Bank and transferring ownership of real estate once the purpose for which it was established is completed.
• Establishing or contributing to companies in various fields complementing their aspects of their activity, and contributing to existing companies with unauthorized activity with the approval of the Central Bank of Iraq, in a manner that does not exceed the percentage determined by the bank from the bank’s capital and reserves.
• Contributing to the capital of Islamic banks approved inside and outside Iraq after obtaining the approval of the Central Bank of Iraq.
• It is not permissible to deal in bank interest, give or take.
• It is not permissible to invest or finance any commodity or project that does not allow Islamic law.
• Real estate brokerage operations may not be funded.
• It is not permissible to exceed the value of fixed property intended for the use of (30%) of his net core private funds, and his investment in fixed property, including the above-mentioned percentage, does not exceed (50%) of the value of his investment portfolio.
• The bank must appoint a Shariah committee by the bank’s general committee for no less than (5) members, including (3) who have experience in Islamic jurisprudence and its origins and (2) at least of them with experience and specialization in banking, legal and financial business. Exempting any member thereof except by a reasoned decision of the bank’s board of directors, by a two-thirds majority of the members and the approval of the bank’s general assembly.

Article Four:

The company's capital: 

Paid capital (100,000,000,000) one hundred billion dinars, divided into one hundred billion shares, the value of one share is one dinar.

Article Five:

The Company Board of Directors:

• Board members of the bank: They are elected by the general assembly of the company, and they are (5) five original members, and they are equal, and that they are chosen in the manner and proportions prescribed to the original members.
• Taking into account the availability of legal conditions in the membership of the Board of Directors mentioned in the Banking Law No. (94) for the year 2004 and the instructions issued pursuant to it and the Companies Law No. (21) for the year 1997 amending the foundations and controls and instructions of Islamic banks.
• Starting date of subscription: 1/19/2020
• Number of shares offered for subscription: Fifty billion shares, one share, one Iraqi dinar.
• Place of Subscription: The Iraqi Middle East Bank for Investment, Baghdad - Arasat Al-Hindi, Babil district - M / 929- G / 25 - Building / 14.
• Subscription shall be for all shareholders, subject to Article (56 / Third) of the Companies Law No. (21) for the year 1997 amending, by giving the right to subscribe to the shareholders within the first fifteen days from the date of the subscription.
Subscription period: Not less than (30) days and not more than (60) days.
• The public and the unsubscribed shareholder subscribe in the first fifteen days in the second fifteen days to the end of (30 days) and the subscription is closed at the end of the aforementioned period in case the subscription takes place in full of the offered shares, and the subscription cannot be subscribed to the subscribed shareholder again.

• The required documents are attached below with the subscription form:

Share Certificate (for shareholders only).
• Instrument of the amount for the subscribed bank order.
A copy of the nationality certificate, civil status ID or national card (for the first time subscriber).


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