The closure of All Islamic Banks due to Islamic Law violation

MP Kazem Sayadi called for the closure of all Islamic banks for violating Islamic law. Moreover, he also called for the closure of non-Iraqi banks to practice some money laundering. Sayyadi said, “All Islamic banks should be closed for violating Islamic law”. He called for opening the investigation of capital for all investors and applying justice where you have it. He also stressed the need to merge the rest of the banks and raise the value required to give the license to open the banks to trillion Iraqi dinars, because it is a non-investment bank. He also called for the closure of all non-Iraqi banks to the existence of suspicions of some practice money laundering.

MP Kazem Sayadi

It is noteworthy that the Chairman of Baghdad Chamber of Commerce, Jaafar al-Hamdani said that “Iraq is seeking various ways and events and activities to reach the WTO agreement and integrate its economy into the global economy”. Al-Hamdani further added that trade and economic relations with traders and businessmen of both countries will be restored after the signing of the trade agreement with the Jordanian side.

He pointed out that Iraq needs a joint Arab economic project to return to the incubator Arab and international. He added that the agreements that have signed with Jordan will be the real start to it. He stressed that Iraq needs to be present in the Arab and international economic activities. It will allow Iraq to reach the earliest time to the WTO agreement and the integration of Iraq in the global economy. He also pointed out that the agreements will be an opportunity to access the ports of the Red Sea through Jordan. He said that Iraq needs Jordan to access international banks in order to establish economic partnerships with Jordanian business owners and supply goods through Aqaba.

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