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Central Bank: Islamic Bank will support the establishment of fact, the country's banking
2011-07-14 10:05:00
Special _ Baghdad Post
confirmed adviser to the CBI that the establishment of an Islamic bank government will support the banking reality in the country.
The appearance of Mohammed "Baghdad Post" that "the establishment of an Islamic bank government will support the process of circulation and strengthens by a large capacity of the payments system of Iraq to confront the economic challenges."
He added that "the Ministry of Finance decided to open an Islamic bank with a capital of 250 billion dinars at a minimum, which Sésm to expand the trading of Islamic banking in line with the movements of the Iraqi capital."
He pointed out that "the Finance Ministry has also decided to open the windows in the Rafidain and good for the circulation of Islamic banking, it which will contribute to strengthening the role of Islamic banks in the country. "
and revealed the Iraqi government in July 2 announced that it decided to establish an Islamic bank government supervised by the Central Bank of Iraq and is administratively linked to Ministry of Finance. The Economic Commission representative had announced earlier that the Islamic banks to Atsem in raising the level of economic development in the country. The total capital of banks, Iraqi Special billion and 600 million dollars now, other than bank branches owned by Arab and foreign companies operating in the country. The Central Bank of Iraq said, Wednesday, the past that the high inflation rate 0.01 for the month of November compared with November last month will not affect the value of the Iraqi dinar. The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector.
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