In April 2011, a group of
Iraqi investors established a Private
Shareholding Company in the name of
International Development Bank for Investment
and Islamic Finance.
The bank was established with a paid
up capital of 100 billion Iraqi dinars and it was
further increased to
160 billion Iraqi dinars in June 2012.
The investors group's vision revolved
around capitalizing on significant demand for a fully
Islamic Bank to provide a high class
Islamic Banking products and services in Iraq.