Director of private banks: Open Government Islamic Bank will be a burden on banks

Date: Wednesday, 06-06-2012 10: 54 am



Baghdad (newsletter)... Executive Director of the Association criticized the private banks Abdelaziz European goldfinch, the Government's decision to open an Islamic Bank, saying he would be a burden on the Government banking sector in particular.

He said European goldfinch (News Agency news) on Wednesday: that State banks could open the Windows of the Islamic banking because they have the potential and ability to conduct banking practices, and the Government could open its own Islamic Bank because it would be a great burden.

He: must end Government Banking departments in the public sector, because they lack vision objectivity in banking, because the future Iraq to free market economy does not recognize the totalitarian systems controlled by Governments.

Started activities of Islamic banks in Iraq a year ago (1993) when the establishment of the first Islamic Bank in Iraq is named (the Islamic Bank of Iraq), while the number of banks that the circulation system of Islamic banking (9) banks including Bank external and other (Gulf) opened its branch in Iraq.

The Finance Ministry plans to launch an Islamic Government Bank called (Islamic Bank of two rivers) and differs from other Government banks in its commitment with the laws of the Islamic religion. /finished/8. d/s