In 2023, Misk Islamic Bank was established in Baghdad, with its origins tracing back to a significant alliance formed in 1930 in the same city by a conglomerate one of the largest family-owned businesses (International Venture Investment (IVI)) in the MENA region. This conglomerate had diversified investments in finance, retail, real estate, power, oil, and other sectors, and played a pivotal role in the inception of this bank.
The conglomerate has been working for decades in the Iraqi Market with a dream of initiating an Islamic Banking System. Finally, and in 2023 Misk Islamic Bank which is dully approved by the Commercial Registrar Office and the Central Bank of Iraq (CBI) is now a dream come true
. Misk Islamic Bank is committed to delivering high-quality banking services while adhering to strict regulations governed by Islamic Shariah laws, which forbid certain financial practices, including interest (usury) and investments in businesses considered haram (forbidden).
