The Iraqi Cabinet has approved the establishment of the country’s first state-owned Islamic bank, according to Mudher Saleh, deputy governor of the Central Bank of Iraq.
Saleh also told Bloomberg that two of the country’s state-owned banks, Rafidain Bank and Rasheed Bank, opened Islamic banking units earlier this year. Dr. Ali al-Dabbagh, Official Spokesman for the Government of Iraq confirmed that the Two Rivers Islamic Bank will start with capital of IQD 25 billion ($21.5 million)………………………………………..Full Article: Source