2012-07-25
Iraqi bank announces his intention to establish the first Bank for the poor in Iraq and the Arab world
Iraqi bank announced Tuesday in Oman his intention to establish first Islamic Bank for the poor in Iraq, is the first of its kind in Iraq, Arabic States, and under the name «Bank» Islamic takaful.
Deputy Chairman of the Iraqi Islamic Bank for investment and development, Dr. Abdul Salam Al janahi told a press briefing that this project is a personal initiative is working on it now, and you will see the light soon, God Almighty on the ground in Baghdad, where the Centre will be created for tripping then branches in other governorates of Iraq, and then expand beyond Iraq and opening branches in the Arabic States.
Al-janahi said that the project was studied thoroughly well, and made to the Central Bank of Iraq to take the necessary approvals and initiate registration «Bank» and its official launch the poor in Baghdad, capital of 250 billion Iraqi dinars, the equivalent of $ 240 million, noting that a Bahraini Islamic Bank offered to contribute to the project by 50% of the Bank's capital.
Janahi added, however, that needed to study, but certainly put up half the shares in the IPO of the Iraqi Stock Exchange to achieve the greatest possible capital contribution, particularly by poor and small shareholders and with few savings, who refuse to deal with RIBA-based traditional commercial banks. He will Bank that janahi Sharia and Islamic financial systems such as Murabaha to achieve social and economic development of poor Iraqi communities, as victims of war, widows and orphans and those with limited incomes, the poor and working people to retired workers and where these slides approximately 56% of Iraqi society.
Al-janahi said that the Bank would work with funds shareholders and depositors to fund aghhatiagat the poor and small walmaykroih, medium, to combat poverty and unemployment and employment, as well as for the financing of major projects of high value-added for Iraqi national economy with a view to achieving the largest possible return for shareholders, and directing a portion of the profits to support the funding and infrastructure to the poor such as the establishment of hospitals and cancer treatment centers and incurable diseases, schools, bunkers orphans.
Al-janahi said that it was studying the experience of the Grameen Bank «Bank» of the poor in Bangladesh, founded by Muhammad Yunus, to avoid negatives and maximize the pros, avoid mistakes.
Al-janahi said that Islamic banking in Iraq had great success over the past almost 20years ago, and gained the trust of customers and savers and depositors, and the Iraqi Islamic Bank for investment and development in the governorates of Iraq (19) branches, distributed profits to shareholders for the year amounted to 10% almkhadi 2011.
source
