Iraqi Islamic Bank completes capital increase

Iraqi Islamic Bank (IIB) has completed the required capital increase set by the Central Bank of Iraq to a fully paid IQD 152 billion ($130 million). In line with its expansion policy, the Iraqi Islamic Bank will be opening its new north branch in northern of Iraq Erbil in April, taking the branch network to a total of 17. IIB was the first private Islamic Bank in Iraq, opening its doors in 1992.