islamic finance in iraq -preliminary thoughts iraq finance 2012 18 – 19 september 2012
TRANSCRIPT
Islamic Finance in Iraq-Preliminary Thoughts
Iraq Finance 2012 18 – 19 September 2012
Potential Role of Islamic Finance in Iraq
Islamic Finance Growing Globally
Need for Islamic Finance Capability to Tap
all Potential FDI Markets
Likely to be Significant Domestic Demand
Studies Show that 30% + of Population of
Muslim Countries Committed to Islamic
Finance
Project / Infrastructure Finance
and Sukuks Sukuks – “Islamic Bond” Role in Project / Infrastructure Finance Potential to Tap Muslim Funds Needs Regulatory Regime Vital for Enabling Islamic Banking and
Takaful in Iraq Mobilising Diaspora Funds – E.G. Sukuk
Issuance to Build Najaf Airport
Financial Inclusion Strategies
Importance of Financial Inclusion Iraq - Under banked < 30% of People Have Bank Accounts Compare with 80% + Ownership of Mobile
Phones Islamic Finance & Banking Can Help to
Increase this A Proportion of Muslims Will only Bank
With Islamic Financial Institutions
The Role of Takaful
Critical to Compliment Projects Funded by Islamic Finance
Role in Mobilising Savings Pension Provision and Investment Linked
Takaful Health and Educational Provision Through
Takaful
Harnessing Best Practice
Malaysia – a Good Role Model Now 20% + of the Economy Serviced by
Islamic Finance, Banking and Takaful Regulatory and Legislative Experience Securities and Islamic Capital Markets Good Role Model for Iraq to Emulate
