Iraqi Islamic Bank

Welcome to the Iraqi Islamic Bank for Investment and Development (IIB), the first and leading Islamic financial institution in the country. Established on December 19, 1992, and commencing operations on February 23, 1993, we hold the distinction of being the pioneer of Sharia-compliant banking in Iraq.[1] For over three decades, we have remained steadfast in our commitment to ethical banking, combining the timeless principles of Islamic law with modern financial technology to serve the diverse needs of our people and our economy.
Who We Are
Founded with a clear national mandate to introduce ethical banking to the region, IIB is a private joint-stock company licensed by the Central Bank of Iraq (CBI). From our humble beginnings with a capital of 126.4 million IQD, we have grown into a financial powerhouse with a paid-up capital reaching 400 Billion IQD (as of 2025). This robust financial foundation enables us to support Iraq’s reconstruction, finance major infrastructure projects, and provide stability to our shareholders and depositors.
Our Leadership
Mr. Ahmed Walid Ahmed
Chairman of the Board of Directors
Mr. Humam Thamer Kazem Al Attar
Managing Director & CEO
Our leadership team combines deep local expertise with international banking standards. Under their strategic guidance, IIB has expanded its footprint across all major Iraqi governorates and is actively pursuing digital transformation to make banking accessible, secure, and convenient for every citizen.
Our Mission & Vision
Our Vision
To be the leading Islamic bank in Iraq and the region, providing advanced and innovative banking services that contribute effectively to sustainable economic and social development.
Our Mission
Sharia Compliance: To provide banking solutions that are 100% compliant with Islamic Sharia principles, supervised by a distinguished Sharia Board.
Customer Focus: To meet the evolving needs of individuals and corporations with transparency, professionalism, and speed.
Innovation: To lead the market in digital banking, offering seamless mobile and online services that save our customers time and effort.
Our Services
We offer a comprehensive suite of financial products, fully certified by our Sharia Supervisory Board:
Corporate Banking: We support businesses with Murabaha, Musharaka, and Istisna’a financing, alongside trade finance tools like Letters of Credit (LCs) and Letters of Guarantee (LGs).
Retail Banking: From current and savings accounts to auto finance and real estate financing, we help individuals achieve their personal goals without compromising their values.
Digital Banking: Our state-of-the-art Mobile App and Internet Banking platforms allow customers to transfer funds, pay bills, and manage accounts 24/7.
Investment: We provide diverse investment portfolios that offer competitive, halal returns for our depositors.
Network & Reach
Headquartered in Al-Mansour, Baghdad, IIB operates an extensive network of branches covering the entire nation:
Baghdad: Main Branch, Al-Karrada, Al-Adhamiya, Zayouna.
Major Cities: Basra, Erbil, Najaf, Mosul, Kirkuk, Ramadi, Fallujah, Hilla, Tikrit, and Sulaymaniyah.
International Ambition: We are actively expanding our correspondent banking network to facilitate smooth international trade for Iraqi merchants.