Central Bank of Iraq intends to organize the work of Islamic banks
Confirmed adviser to the CBI that the Bank is working to organize the work of Islamic banks across the enactment of its own during the next few days.
He said the appearance of Mohammed Saleh said that the Central Bank Act in connection with legislation regulating the work of Islamic banks in the country, especially with regard to loans, conversion of the Islamic system of interest to a system of profit and loss.
He noted that the number of Islamic banks in Iraq had reached to 6 banks, most notably the Bank of the country and the Bank of Abu Dhabi Islamic Bank of Kurdistan.
Saleh pointed out that the Islamic Banking Act aims to promote increased number of Islamic banks with significant capital to contribute to the development of banking and economic in the country.
