Iraqi Islamic Bank review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Iraqi Islamic Bank pays 6.25% on an easy-access account, with withdrawals and deposits at any branch and a card for each account. It suits savers in Iraq who want to hold money and borrow from the same bank, in local currency.
Key facts
- Best for
- Easy-access saving in Iraq with a direct lender for personal, guarantor and business money.
- Headline rate
- 6.25%↗
- Rate type
- Variable↗
- Term
- 12 to 84 months↗
- Access terms
- Withdraw and deposit at any bank branch; returns distributed every 3 months; a card is issued for each account↗
- Account kind
- Easy access↗
- Legal entity
- Iraqi Islamic Bank for Investment and Development↗
- Headquarters
- Iraq↗
- Founded
- 1992↗
- Support channels
- Phone, Email↗
- Official website
- iib.iq
Loans
- Loan amount
- IQD 200,000 to IQD 30,000,000↗
- Funding time
- Instant disbursement via the mobile app for the salary-backed emergency advance↗
- Lender type
- Direct lender↗
- Eligibility
- Minimum age 18; valid civil ID or passport, proof of address, proof of income (salary letter, employment certificate or bank statement), two photos; savings accounts can be opened for children; current account or savings account required for a card↗
- Loan types
- Personal, Guarantor, Business↗
- Features
- Same-day funding
Apps and profiles
- Get the app
- App StoreGoogle Play
- Elsewhere
- LinkedInXyoutube.com
Pros and cons
Pros
- Rate of 6.25% against a site figure of 3%.
- Lends directly for personal, guarantor and business loans of IQD 200,000 to IQD 30,000,000 over 12 to 84.
- A debit card on the mastercard network comes with each account.
- Funding listed as same day funding, with instant disbursement in the app for the salary-backed advance.
Cons
- The rate is variable, so returns can move with the bank's pricing.
- Support runs on phone and email only.
- Loan sizes of IQD 200,000 to IQD 30,000,000 suit larger needs rather than small advances.
Who it suits
- Savers in Iraq who want a easy access account with a card for each account.
- People who keep money and borrow at the same bank, given direct lender lending alongside savings.
- Parents opening savings accounts for children, and salaried staff using the app-based emergency advance.
Who should look elsewhere
- UK savers after an app balance: Wise pays 3.29%.
- Savers who want a spread of rates rather than one number: finteres lists 0% to 36%.
- Anyone after a fixed deal: bunq pays 3.01% on savings, while the rate here is variable.
How Iraqi Islamic Bank compares
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Where Iraqi Islamic Bank is available
- Available
- Iraq
- Licence in Iraq
- Central Bank of Iraq, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
How much interest does the account pay?+
The account pays a headline rate of 6.25%, and the rate is variable, so it can move with the bank's pricing. That sits above the site figure of 3%. Returns are distributed periodically through the year.
Who regulates Iraqi Islamic Bank?+
The regulator is the Central Bank of Iraq, and the legal entity is Iraqi Islamic Bank for Investment and Development, headquartered in Iraq. The licence sits with the Iraqi central bank, so the account is built for savers in Iraq rather than for money held in the UK or Europe.
How do I deposit and withdraw money?+
Deposits and withdrawals can be made at any bank branch, and a debit card is issued for each account. The account is easy access, so money moves in and out without a fixed term, and returns arrive periodically rather than monthly.
What card comes with the account?+
Each account is issued a debit card on the mastercard network. A current or savings account has to be open before the card is issued, so the card follows the account rather than standing on its own.
How much can I borrow and for how long?+
Lending runs IQD 200,000 to IQD 30,000,000 over terms of 12 to 84, and the bank is a direct lender rather than a broker. Loans cover personal, guarantor and business purposes, so a personal advance and a business facility sit with the same provider.
How quickly is money available?+
Funding carries same day funding, and the salary-backed emergency advance is disbursed instantly through the mobile app. That makes it a same-day option for a salaried customer who needs a short bridge between paydays.
How do I get help?+
Support runs on phone and email, so questions are handled by phone or email. In person help comes from the branch network, which is also where deposits and withdrawals are made.
Who can open the account?+
Adults can open the account with a civil ID or passport, proof of address, proof of income and photographs. Savings accounts can also be opened for children, and a debit card needs an open current or savings account.
Sources
- en.wikipedia.org/wiki/Iraqi_Islamic_Bank checked September 26, 2026
Backs: Card network
“IIB is the only Commercial Bank approved as the Principal Agent for MasterCard in Iraq”
- iib.iq checked September 26, 2026
Backs: Card type
“Get the digital card of the Iraqi Bank from the Iraqi Islamic Bank”
- iib.iq/pages/about-us.html checked September 26, 2026
Backs: Founded, Legal entity, Licences
“The Iraqi Islamic Bank for Investment and Development was founded on 19 December 1992 and began full operations under the Central Bank of Iraq on 23 February 1993”
- iib.iq/pages/branches.html checked September 26, 2026
Backs: Headquarters
“Main branch and head office building, Al-Mansour / 14 Ramadan Street, Baghdad”
- iib.iq/pages/islamic-products.html checked September 26, 2026
Backs: Lender type
“the bank itself buys the goods from a third party at the customer's request and then sells them to the customer at an agreed price”
- iib.iq/pages/personal-services.html checked September 26, 2026
Backs: Access terms, Account kind, Loan amount, Eligibility, Features, Funding time, Headline rate, Loan types, Rate type, Support channels, Term
“Withdraw and deposit from any branch of the bank; returns are distributed every 3 months; a card is issued for each account”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Minimum deposit, Deposit protection.
Iraqi Islamic Bank
Easy-access saving in Iraq with a direct lender for personal, guarantor and business money.