Islamic banking and the prospective role
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Islamic banking and the prospective role

Basem Brahimi
10/01/2020
Dr.. Basem Brahimi
The development of the banking sector in any country is often linked with the development of the real economic sector in that country in a negative feedback relationship, as the growth of one enhances the growth of the other sector.
Despite what some believe that the rapid development of the financial sector in general has become a generator of financial crises, we find that banks are still a driver for advanced economies even in light of the global financial crises, but with an urgent need for more regulation and supervision of the banking sector, which is one of the lessons produced by these crises.
In this context, some opinions and calls emerged that see that Islamic banks were the most prominent survivor of the financial crises (compared to commercial banks) as a result of the nature of the work of these banks that are identical with the real economy and then are associated with the up and down trend of its commercial cycle so that the (Islamic) bank and its customers can bear it. Shared investment results in accordance with the rule of sheep for fine, which is the cornerstone of the work of these banks.
The beginning of the Islamic banking business in Iraq was with the establishment of the Iraqi Islamic Investment Bank in 1993, after which the work of these banks developed and their number increased, especially after the legislation of the Islamic Banking Law No. (43) for the year 2015, as their number today reached thirty-one banks, which constitutes a percentage of (40) Percent) of the total number of banks in Iraq with a capital of nearly seven trillion dinars, and this increase comes in line with the great development witnessed by Islamic banking at the international level, as we find that many international traditional banks have worked to open Islamic windows to simulate the increasing demand for this type of products .
It is expected that Islamic banks in Iraq will have an important developmental role, especially with the great capabilities available to these banks on the one hand, and the governmental economic reforms aimed at stimulating the real sector to diversify the Iraqi economy and reduce dependence on oil on the other hand, which coincided with preparing a paper for banking reform in the bank. The Iraqi Central Bank, however, this expected role of these banks remains dependent on their ability to overcome the challenges they face, whether in the field of quickly gaining practical experience or in the field of ability to compete with traditional banks and then the extent of their ability to win the confidence of the public.
https://economy-news.net/content.php?id=22062
RamblerNash- GURU HUNTER
- Posts : 19622
Join date : 2015-02-19
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
» In partnership with "MasterCard" ... "QNB" launches the Mastercard World Elite Exclusive Card
» The Minister of Planning announces the start of the practical measures to form the Iraqi Private Sector Development Council
» Banks Are Reluctant To Buy Dollars In Cash From The Central Bank
» France announces its intention to establish strategic projects in Iraq
» Al-Kazemi confirms his support in applying electronic automation at border crossings and tightening control to control violations
» The Central Bank celebrates the anniversary of the establishment of the Basra branch
» The economic effects of devaluation of the currency exchange rate
» Iraqi national and foreign security discuss the regional openness of Iraq
» New Deputy Political Affairs and Electoral Assistance appointed for UNAMI in Iraq
» European scheme to break the "dominance of the dollar"
» Tomorrow .. The launch of the activities of the exhibition {Made in Iraq}
» The Council of Ministers sets the date for approving the biometric card, stating that it is documented
» Parliamentary Finance: To vote on the budget next week .. This is the fate of the salary deduction
» Parliament ends discussion of the 2021 draft budget
» American diplomat James Jeffrey: Trump's model will continue in Iraq and Syria
» Representative statement after fears of raising the exchange rate of the dollar against the dinar again - urgent
» US Election Outcome Jan. 20th and Beyond
» Benjamin bla bla blah Fulford - US Election Outcome Jan. 20th and Beyond
» Al-Kazemi acknowledges the "complicated" situation in Iraq and calls for a new page to be opened
» Parliamentary Finance confirms reading 40 articles from the budget and specifies a possible date for passing them
» Iraq is working to remove its name from the list of money laundering and terrorist financing and its foreign affairs clarify the procedures
» Deleting zeros or printing a new category? .. The Iraqi government's options to save the dinar from collapse
» Iraq: revenues for a whole year are "hidden" and obstructed "the 2021 budget" with its "frightening deficit": the country will be flooded with new international loans!
» Representative economics submitted a proposal to the private sector after raising the price of the dollar
» The ports control the forging of an examination certificate for materials at Umm Qasr port
» Iraq participates in the Buna platform for inter-Arab payments
» Part of the activities of the Central Bank of Iraq during the year 2020
» The most important stations of "Desert Storm" ... 30 years since Saddam's invasion of Kuwait
» Al-Rafidain directs the continuation of the follow-up of the retrieval of the money of Basmajah loans
» An Iraqi bank announces that it has reached the highest credit rating in the country
» Parliamentary Finance confirms its intention to reduce total expenditures and maximize revenues in the 2021 budget
» Deputy: Submitting a parliamentary request to resolve the issue of customs tariffs on raw materials
» Oil Minister: Importing gas is indispensable
» The Iraqi judiciary responds to the Iranian Foreign Ministry regarding the arrest warrant against Trump
» KTFA Chat
» Militiaman.. update---The numbers after the second reading are very key..
» Judy says - Comptroller of Currency has informed all banks that the US dollar would revalue on Jan. 27 (No Dinar RV?) 1/14/21
» COFFEE WITH MARKZ - Video and Transcript -- Jan 14 2021
» FLEMING Report: Sudden Chinese decision shakes the corners of the entire world