Saleh launched drives economic development process
BAGHDAD / morning
Find a new product drives the action is on the horizon with the imminent launch of Islamic instruments that go some Almokhtssh banks to be issued within the coming weeks, at a time when the concerned authorities continue to issue a special law work.
Modern tool
Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh said: " The Islamic Sukuk issuance is one of the modern tools and task in the field of financial transactions did not exist in Iraq before , " He said in an interview for the "morning" that this type of instruments to achieve significant economic feasibility in terms of development moves because they come from real activity and focus on the continued "factory, farm, real estate, trade ...", pointing out that they many have up to 20 species of instruments.
And instruments of Islamic mean documents or equal financial certificates value represents the stakes are common in the ownership of assets (objects or benefits, rights or a mixture of objects and benefits, cash and debt) already existing or to be created from the proceeds of the IPO, and issued in accordance with the legitimate contract and take its provisions, according to the proposed law in Egypt , they represent common shares in the ownership of objects or benefits or services, or in the ownership of certain assets of the investment project, or Murabaha capital, as determined by the prospectus, and be negotiable to maturity, according to the terms of the prospectus.
It can be traded
Saleh explained that these instruments are issued exclusively for Islamic banks do not adopt the traditional banking and equities can be traded and is traded ownership of tools, adding that a number of regional countries based trading of these instruments but concentrated Alinden traded in the market.
Specialist on Islamic banking Ali Faleh al - Zaidi said near the issuance of Islamic instruments through specialized banks, which after converting nine companies to convert financial Mokhtssh Islamic banks increased their number, pointing to the importance of expanding numbers specialized in this important joint banking competencies.
Instruments guaranteed
Zaidi said the experiment include the issuance of Islamic bonds in millions of dollars and these instruments are guaranteed by the government and could be sold on world markets and the concomitant economic feasibility and explained that Islamic banks have become mechanisms of action serve the national economy and head to stimulate all departments work in and make them profitable, as has become her short, medium and long - term plans for the development and expansion activities , products that offer to the citizens on the companies or their differences Members.
Workload
International expert and advisor to the south Islamic Bank Hisham north of the Iraqi banking sector must be characterized equably in handling bank and adopt a style of reciprocity with regional and global banks and countries, departing from the heavy workload in Iraq and the need for a bowl Mali and large, this is it aware of the world and consider to Iraq with special interest.
He pointed out that the Arab delegations attending to Iraq recognizes the importance of the country on the apron of the international economy , and this can Nahrh through the accompaniment of bankers and businessmen in order to build new bridges of cooperation with Iraq and the opening of branches of banks in Baghdad to be horizontal starting point for cities Akhary.mbana that the Jordanian delegation that point attended to Baghdad recently he was carrying economic goals with him in the forefront of banking cooperation, which requires that there be facilities brother side to open branches of banks Iraqi there and in the capitals of those countries and its role in facilitating a lot of transactions and achieve significant economic feasibility, as well as it enhances the value of the bank in front of the international banks because they enhance the coverage of credit and letters of guarantee internationally.
He noted that the South Islamic Bank, for example , began a new experience where looking forward to the creation of housing complexes in Baghdad by Islamic investment, as well as the establishment of Glass plant in Karbala, Samawa to produce all kinds of glass and this approach serves the economy and support the family economy and keeps the turnover within Iraq.
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