Central Bank announces issuance of Islamic bonds in June Economy News / Baghdad ...
Central Bank announces issuance of Islamic bonds in June
Economy News / Baghdad ...
Last updated 15/03/2017 - 13:27
Iraqi Central Bank announced on Wednesday for the possibility of issuing Islamic bonds in June after the completion of the technical aspects of it is released, pointing out that the central part of its strategy to diversify Islamic tools and the most important instruments in accordance with Islamic law, which chime and wishes of a large segment of society.
The director of financial operations at the central bank Mahmoud Mohamed in a statement seen by "Economy News", "This trend is supported in various countries around the world and adoption by major banks in Britain, Malaysia and other important economic blocs," adding that "in Malaysia up the value of instruments Islamist to 3 trillion dollars and is working to finance major projects in that country. "
Muhammad explained that "the central bank completed a kind of Islamic instruments" Islamic certificates of deposit "will be issued over the next June," adding that it "guaranteed and the degree of risk in which zero percent and is working to attract large cluster of cash to the banking sector and investment in order to achieve viability."
He pointed out that "Islamic Sukuk issued in accordance with the law and combine the stock and the bond."