Academic: Islamic banks contribute to the development
10/14/2015 0:00
Baghdad Imad emirate
explained academic that the money sources of Islamic Banks and economic activities comes from two sources, the first internal represented by capital which is intended in Islamic thought (out of money) any that part of the allocated to the project when it was founded monetary wealth, and added to that part is a set of money invested and known as the (trade money).
The capital can be defined in the Islamic Bank as a group project, the owners of the contributions at the beginning of its establishment and the net extra money (cash and kind) which is the difference between what is added to it and taken from it in the later stages. He added. Abdul-Zahra Faisal Younis from the Faculty of Management and Economics at the University of Mustansiriya, if capital does not represent only a limited percentage of the financial pot to commercial banks compared to the monetary mass pumped in the investment market that form deposits in various forms the largest content, it is the financial source of the most important for the Islamic Banks, which should be enough to cover their reserves.
and between Younis, Islamic banks, whether public or private or mixed take the form of joint-stock companies as painted border man-made laws.
pointing out that it is not an exception to the general context of the emergence of economic institutions in the framework of applicable laws and is mildly nascent the capitalist mode, so the view of many economists that the Islamic banks in terms of principles contradict the theoretical foundations that regulate the emergence Fla.modha the Islamic banks to contribute to a group of investors who are turning their savings into shares and bonds of these banks allow them to speculate. And therefore differ from the nominal value of their real value so that they are included as part of the suspicions usury. The contract in Islamic jurisprudence requires (satisfaction) and decades of Islamic banks in terms of legal form or formalities are closer to the bow and delivery status quo decades, and they have no say in the other contributors test. He said because its shares on the market, and also anyone can buy a number of them, belonging to the group of participants. And thus become institutions made up of people who do not know each other and they are not stable, as can any of them to sell shares whenever he wants. Decisions are taken by a majority vote of members of the Assembly of shorthand practice charismatic director of the company based on his mandate. He suggested that it can be said: The partners here are not only the owners of the shares and their right to vote is linked to their name associated with them, as their share of the profits, and not Valshm permission contributor to the work of Islamic banks. He added, not Islamic Banks judicial personality separate from women with partners where so integrated into her financial assets owed by partners according to Islamic jurisprudence that does not separate them, Vaharik is ultimately to ask about everything that affects the company is not within the limits of its share of assessments but extends the scope of responsibility, even in own funds not covered by the company's contract because it is in the eyes of Islamic jurisprudence acting on his behalf and on behalf of its partners.
He concluded that, «to Aasah dividend only after (silvering) capital in the sense confined and select it, and here comes the Islamic banking policy in the composition of reserves, including through maintaining the value of the deposit has, either external sources of financing are deposits invested by Islamic banks to achieve profits flow from this investment, whether solo or in combination with other com
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