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Invitation to activate the Islamic banking funding program
Articles
Samir Nasiri
Samir Nasiri *
Based on the funding initiatives of the economy adopted by the Central Bank in 2020 and 2021 and implemented banks with 100% execution of JD for private banks and 76% of real estate and 55% of the Housing Fund and contributing 48 banks at the total and 21 banks at the level of the housing initiative.
In line with the central bank plans to move the Iraqi banking sector from the role of banking to the developmental role and with a view to
contributing banks to participate in activating the economic cycle and
supporting the financing of strategic and large development projects, which is achieved by building a solid national economy and sustainable development.
The Central Bank of May 2019 has already launched the complex Islamic finance program with a view to creating a regular partnership between traditional and Islamic banks from the public and private sectors from the other side under the umbrella of the accounting and audit of Islamic financial institutions (AAOIFI)
and was planned To start the program with three projects to
rehabilitate, build and develop chemical fertilizer fertilizers in Baiji, Wabi al-Khasib,
rehabilitation and development of glass coefficient in gray and
rehabilitation project and operation of the White Cement Laboratory in Falluja.
I believe that the program has not been implemented because of economic conditions, demonstrations and the proliferation of Corona, which makes us demand to activate and re-establish the Commission on the Central Bank to draw a clear and specific roadmap
To activate and implement this program in 2022 and that this claim comes after the success of the central bank in the success of its financing initiatives and middle stability during the over-three crises and activated and supported the national economy because banks must have a clear and basic role in economic development
It has a share of contribution to gross domestic product (GDP) in difficult economic conditions and in the circumstances of the separation.
The bank in this national effort will inevitably lead to the following targets:
1. The rise in private sector contribution to GDP. Installations planned in private sector development strategy
2. The active contribution to the implementation of the Private Sector Development Strategy for the years (2014-2030) to operate 50% of the hands of artificial work and accommodate them in achieving these projects and reducing unemployment to acceptable limits during the next three years.
3. Involvement of the private sector in the industry of economic decisions and giving a key role in the financing and investment field of the banking sector.
Bank funding for development will be and banks are the development of development.
4. Re-confidence in the banking sector when banks share and participate in investing in the implementation of strategic projects in accordance with Islamic Sharia and Islamic Banking Law (43) for the year 2015, which provides basic services to citizens in all areas of sustainable development in agriculture, industry, transport, education, construction and tourism.
The achievement of the above targets require that the Central Bank will regulate the participation of banks between them under his supervision and direct departure and the participation of banks' participation in sustainable development and within a plan sets out the major infrastructure projects and is a keynote goal in the first central bank strategy and one.
* Economic and banker consultant
Views 278 Date Added 27/03/2022
Invitation to activate the Islamic banking funding program
Articles
Samir Nasiri
Samir Nasiri *
Based on the funding initiatives of the economy adopted by the Central Bank in 2020 and 2021 and implemented banks with 100% execution of JD for private banks and 76% of real estate and 55% of the Housing Fund and contributing 48 banks at the total and 21 banks at the level of the housing initiative.
In line with the central bank plans to move the Iraqi banking sector from the role of banking to the developmental role and with a view to
contributing banks to participate in activating the economic cycle and
supporting the financing of strategic and large development projects, which is achieved by building a solid national economy and sustainable development.
The Central Bank of May 2019 has already launched the complex Islamic finance program with a view to creating a regular partnership between traditional and Islamic banks from the public and private sectors from the other side under the umbrella of the accounting and audit of Islamic financial institutions (AAOIFI)
and was planned To start the program with three projects to
rehabilitate, build and develop chemical fertilizer fertilizers in Baiji, Wabi al-Khasib,
rehabilitation and development of glass coefficient in gray and
rehabilitation project and operation of the White Cement Laboratory in Falluja.
I believe that the program has not been implemented because of economic conditions, demonstrations and the proliferation of Corona, which makes us demand to activate and re-establish the Commission on the Central Bank to draw a clear and specific roadmap
To activate and implement this program in 2022 and that this claim comes after the success of the central bank in the success of its financing initiatives and middle stability during the over-three crises and activated and supported the national economy because banks must have a clear and basic role in economic development
It has a share of contribution to gross domestic product (GDP) in difficult economic conditions and in the circumstances of the separation.
The bank in this national effort will inevitably lead to the following targets:
1. The rise in private sector contribution to GDP. Installations planned in private sector development strategy
2. The active contribution to the implementation of the Private Sector Development Strategy for the years (2014-2030) to operate 50% of the hands of artificial work and accommodate them in achieving these projects and reducing unemployment to acceptable limits during the next three years.
3. Involvement of the private sector in the industry of economic decisions and giving a key role in the financing and investment field of the banking sector.
Bank funding for development will be and banks are the development of development.
4. Re-confidence in the banking sector when banks share and participate in investing in the implementation of strategic projects in accordance with Islamic Sharia and Islamic Banking Law (43) for the year 2015, which provides basic services to citizens in all areas of sustainable development in agriculture, industry, transport, education, construction and tourism.
The achievement of the above targets require that the Central Bank will regulate the participation of banks between them under his supervision and direct departure and the participation of banks' participation in sustainable development and within a plan sets out the major infrastructure projects and is a keynote goal in the first central bank strategy and one.
* Economic and banker consultant
Views 278 Date Added 27/03/2022
