It praised the Islamic banks in Iraq on the approval of the Islamic Banking Act, which recently passed, and its role in the promotion of Islamic banking products through financial inclusion prepared by the starting point for their work, especially as the law coincided with the Annual Arab Banking Conference which Describe the expansion of the work of Islamic banking and commensurate and directions communities.
According to the recommendations of the Annual Arab Banking Conference for 2015, the need for joint Arab cooperation for the development of a comprehensive Arab strategy to promote financial inclusion with an emphasis on anti-money laundering and terrorist financing, and to promote the building and construction policies.
Dr. Sadeq al-Shammari member of the World Union of Arab banks: the issuance of a law regulating Islamic banks work as well as regional and international support to activate the Islamic banking products leads to the need to create products that fit and law as well as the needs of the communities that have become going to be this kind of banking services.
Shammari said in an interview for »Sabah« that the Arab Banking Conference which set aside time to discuss the development of the reality of Islamic banking and the role of financial inclusion in achieving economic feasibility saw the participation of quality represented by more than 800 leading personal financial and banking Arab and international presence of ministers and rulers of the central banks of 24 countries, pointing to discuss ways of banking cooperation between the participating countries, including Iraq, which is of interest to all participants.
He noted that the recommendations of the conference focused on financial inclusion inclusion as an objective strategic new governments and regulators, and the integration of financial inclusion and financial stability and financial integrity and financial protection for the consumer to realize the Integrated Framework for inclusion and financial stability, as well as to urge the decision-makers on the importance of achieving harmony between strategies micro-enterprise development micro, small and medium, and given the importance of financial education necessary for a large segment of Arab societies.
He noted that the interest in the electronic systems and optimization of the great development in the financial services and innovative products and the development of infrastructure of the Arab financial system, and improve the credit reporting systems, and protect the rights of creditors, and to facilitate the safeguards systems of the most prominent recommendations that urged the creation of an environment conducive and favorable to get young people and women on funding and financial services, and expand financial services more broadly to include rural areas in Arab countries, and the development and diversification of financial products and services in the region in order to provide innovative services and affordable, customized for the poor.
Shammari said the recommendations developed by committees elected by the Congress administration stressed the importance of increasing and expanding the role of Islamic banking to give a push for financial inclusion by allowing individuals and enterprises of small and medium who prefer a compliant banking operations with the law, dealing with the banking system, financial Tazizalmassat Arab policies and financial inclusion has, to affect the micro and small and medium segments of low-income in the community, and emphasis on the integration of social responsibility and the principles of sustainable development into its policies Altamoalah.omnan recommendations given to the problem of the Arab exodus of great importance, to reduce the aggravation of social and humanitarian crises, and the development of the adoption of a statistical standard for measuring the level of financial inclusion in the Arab countries, and follow-up Ttorhma inclusiveness, respectively, as well as the need for action to combat illiteracy banking through educational educational programs starting from the primary grades.
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