Mustaqila

Zain Islamic Iraq calls for expansion of banking services

“The banking sector is required to provide a variety of banking services, and does not depend on a specific aspect,” he said. “The expansion of banking products is the basis for the development of the Iraqi financial sector.”

Al-Alusi said that the Islamic banks came in new products that harmonize with the wishes of a wide range of beneficiaries and companies, especially that the products for which they were established have characteristics that satisfy the wishes of a wide range of citizens such as Alastisna and Murabaha. These products should return to life, Industrial and agricultural production and other economic joints, indicating that most of the Islamic banks, including Zain Iraq, is walking in this direction.

The Governor of the Central Bank of Iraq d. Ali Alalak said: The central support for the efforts of Iraqi banks, in order to activate its role and provide the best products through the adoption of advanced technologies, especially some Islamic banks.

In turn, the legal adviser to the bank Eman Alousi stressed that the expansion of electronic banking leads to the development of the financial sector and reduce all forms of corruption that accompany financial transactions and can benefit from successful global experiences in this important chapter.

And urged the need to abide by the legal procedures that accompany banking operations, especially in the loan granting and the law is more stringent in securing the rights of banks to be able to create a continuous cycle of loan allocations and include the largest number of beneficiaries. Source