Islamic banks in Iraq constitute the Association to support small enterprises
Islamic banks announced in Iraq, the establishment of the association meets the current stage through which the requirements of the country’s economy, and the importance of Islamic banking in addition to support small and medium enterprises to tackle unemployment and the provision of services to beneficiaries.
A member of the International Union of Arab Bankers and Managing Director of the Islamic National Bank Sadiq al-Shammari, said that “Islamic banking now has a broad base despite the recent activity in Iraq and has achieved success in terms of its spread in the provinces,” noting that “the Iraqi society has considerable experience in the field of activation of small and medium enterprises something which will help Islamic banks to raise the possibilities of investment portfolios for all banks to provide the necessary loans in line with the objectives of expanding the banking service Islamic private and conservative lending for Islamic banks to stimulate the students excellence in universities and the owners of small and Crafts laboratories up to 25 billion dinars (about US $ 22 million) as part of its program to achieve social and developmental responsibility. “
He added that “despite the recent experience in Iraq, but the march of Islamic banking which is heading toward the right track and it is seeking to the existence of a law regulating the work and it depends CBI instructions in their affairs department, which requires the Assembly seek to approve the special Islamic banks law.”