he Iraqi Islamic Bank for Investment and Development opened its door to the public on the 23rd Feb 1993 and was initially approved by the Iraqi Central Bank on the 19th Feb. 1992. Since its inception, the IIB was set to working according to the investment criteria and not according to fixed principles of profit-based standards of Islamic law, hence the bank's main aim was and remains to contribute to the support and the development of national economy and its reconstruction through financial investment in various standard investment projects and opportunities, with its present banking dealings are all in accordance with the provisions of Islamic law.