Elaf Islamic Bank Private Shareholding Company, located in Baghdad, was incorporated as 'Al Baraka for Investment and Finance' in 2001 with an initial capital of IQD 2 billion. In 2007, the bank transitioned from conventional banking to Islamic banking and increased its capital to IQD 8 billion. Over the years, the bank has continued to increase its tangible equity share capital, reaching IQD 152 billion in 2012. The bank has no debt in its capital structure and maintains a risk-adjusted capital adequacy above the limit set by the Central Bank of Iraq and international guidelines. Elaf Islamic Bank is listed on the Iraq Stock Exchange (ISX) under the ticker BELF. The bank offers technologically advanced banking channels and maintains strong interpersonal relationships with its customers. It provides Shariah-compliant and customizable products and services to individuals, corporate clients, and financial institutions. The bank values high moral standards, integrity, and professionalism in its banking practices, considering not only its clients, shareholders, and peers but also the wider communities and the environment.
Headquarters
902 Kahramana Square Street 2-Building No.4, Al Wahda District
Baghdad; Baghdād;
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Website: http://www.eibiq.com
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