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BatmaninIraq
06-03-2015, 03:54 AM
June 2, 2015

Central is expected the arrival of assets to 70 trillion dinars

The economic and investment commission parliamentary confirmed that the value of the assets at the central bank up to 66 trillion dinars, expected to amount up to 70 trillion dinars by the end of this year.

The commission said Olive al-Dulaimi, a member of the Governor of the Central Bank on the Keywords and during his stay in the meetings of the Committee, revealed the existence of 66 trillion dinars assets at the central bank, noting that this amount is good compared with the situation in Iraq the current low oil prices and the war on terrorists organization Daash.

She added that the bank balance of gold is very good, and is able to walk the things the country to safety, stressing that improvement in oil prices during the last period will be a positive factor to increase the asset level at the Central Bank, where he is expected to arrive in the amount of assets at the end of 70 trillion dinars.

It is said that the parliament select sale of a barrel of oil in the budget $ 56 price, while oil prices ranging at the moment between 64 and 67 dollars in the global markets that said the managing director of the Islamic National Bank, chairman of the Islamic Association of Banks in Iraq Sadiq al-Shammari's central bank to support the broad activity that has become characteristic of Islamic banking in Iraq.

Shammari said: The idea of Islamic instruments came to solve the problem in front of banks Islamic in order to enter in investing in these instruments, which he described property instruments that bear the losses and profits instead of traditional debt securities bonds and Treasury money market funds and others.

He said that these instruments will be an attractive alternative for companies that need capital with reluctance many who want to be their investments acceptable legally and those who stayed away from investing in debt securities and debt, to the quality of interest and trading in debt and we mean selling religion to religion.

and between Shammari said the terms of these instruments provide owned assets to those constituent be able to generate income on a regular and ongoing basis, also should have the assets to be Tskeckha attractive for the investor and Hmaattalb presence creditworthy in assets Kantzam repayment guarantees in kind.

and Al-Shammari said that the program wide Islamic Association of Banks will be adopted if the adoption law and its system in order to enhance the activity of this sector and its development after the overall development and success, which is characterized by this kind of activity and a widening customer base with him expressing Expect an increase space attend this sector in large areas of Iraq during the coming period. And eighth-Shammari, who heads the Islamic Association of Banks in Iraq, Iraqi Central Bank Governor Dr. Ali Keywords recent remarks on his support for Islamic banking and orientation adopted by the Iraqi Central to stimulate this type of banking in line with the success of the region and the world.

The Governor of the Central Bank of Iraq d. on the Keywords, had confirmed in press statements support the Central Bank of the broad activity that has become characteristic of Islamic banking in Iraq as a result of the growing acceptability that you achieve your goal of citizens who have reservations to deal with usurious banks or commercial.

Keywords and said that the central Iraqi eager to evaluate this type of banking and facilitates its inception process and spread down to the wishes of the vast amount of wanting to deal with this type of banking citizens, indicating that the central bank is following the law of Islamic banking, which is expected enacted by the House of Representatives after being passed by the Council of Ministers.

He said there is a great need to support Islamic banks in order to help them keep abreast of Islamic banking in the world and the evolution of their products, which called for most of the international banks seeking to take advantage of the contents of Islamic banking.