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06-19-2014, 02:30 AM
Islamic banks are looking for investment opportunities in the nearby (http://www.alsabaah.iq/ArticleShow.aspx?ID=73011)

18/6/2014 12: 00 am

Al-mundhiri: excess cash needs


The Finance Ministry plans to organize investment forum sponsored by Islamic banks in Iraq through the window of the Bank of the rivers.

The Director General of the Islamic Bank of rivers Abdul Hussein Al-mundhiri for "morning" is now making preparations for the formation of the Preparatory Committee and the preparations for this important event, which is a new start for the role of the Islamic Development Bank.

Al-mundhiri said the issue is very important for the exploitation of opportunities in the national and provincial bodies, thanks to diversification projects and needs of the country, especially in the sectors of housing, energy and other services.

The Islamic Bank liquidity and surplus are looking for investment opportunities to run according to Islamic investment funding formulas as murabaha, participation, Istisna'a and other.

But al-mundhiri did not overlook challenges and hinder entry into the investment sectors led the Bank of the rivers that called for a meeting to discuss ways to overcome these obstacles, including poor coordination between Islamic banks and the need for special legislation to Islamic banking as well as poor coordination between banks and investment bodies.

He noted that the Forum has invited all government agencies and the private sector on investment with a view to identifying means to invest these funds to revive the economy
It should be noted that Islamic finance has achieved great successes in more than 80 countries, Islamic and non-Islamic finance investment for productive and service sectors.

About investing and finance I

Islamic banks in Iraq are moving to exploit investment opportunities available in the Commission or in the provincial councils of different types and sizes due to the diversity of the projects listed and broken in such bodies required in the market in the sectors of housing, energy and other services and Islamic banks have large excess liquidity is currently looking for opportunities to run them under the funding formulas and Islamic investment analyst legitimately as murabaha, participation, Istisna'a, peace and others.

However, what hinders the entry of investment sectors is poor coordination among Islamic banks themselves and with investment on the other.

The holding of the Forum on Islamic investment and finance the first as soon as Iraqi and that her claim to all government agencies and private investment and financing and advisers in the Cabinet and the National Commission for investment and Islamic banks and the Finance Ministry and the Association of banks and the Central Bank, other commercial banks and media to provide in this forum work sheets For different stakeholders invited to the Conference and the committees of Islamic finance to formulate appropriate recommendations to the importance of the event and the importance of the role of Islamic finance in the revival of the economy, industry, agriculture, trade and finance on a way to attract local and foreign investors to its advantage in most of the sectors of the investment, taking the laws, legislation and legal and accounting references in more than 80 countries, Islamic and non-Islamic.

We have a lot of talk and proposals to put it in this forum which has become urgent and strategic desire to improve the country's economic realities.