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Islamic Cooperation Investment Bank

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Islamic Cooperation Investment Bank, also known as Taawen Islamic Bank, is a private Iraqi bank established in 2006.

Last updated August 25, 2026

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Overview

Islamic Cooperation Investment Bank is a private banking institution in Iraq, also known as Taawen Islamic Bank. It was established in 2006 and operates under an Arabic name translated as Taawen Islamic Bank. The available reference material identifies the institution as an Iraqi bank rather than as a banking group, government entity, or publicly listed company. Its domestic network comprises 10 branches across Iraq. The bank has also maintained a branch in Tehran, Iran, giving it a cross-border presence beyond its Iraqi home market. In 2017, it was identified as one of five foreign banks with an office in Iran. Publicly available information in the supplied references is limited: ownership, headquarters, executive leadership, financial performance, product-level details, official website, and listing information are not specified. Accordingly, the bank is best described as a privately operated Iraqi banking brand with an Iraqi branch network and a documented Iranian presence.

History

Islamic Cooperation Investment Bank was established in Iraq in 2006. It is also known as Taawen Islamic Bank, reflecting the Arabic name مصرف التعاون الاسلامي للاستثمار. The available historical record presents it as a private Iraqi bank and does not identify a state ownership structure, parent group, founder, or controlling shareholder. Its operating footprint includes 10 branches distributed across Iraq, indicating a national retail or commercial banking presence, although the supplied sources do not provide enough detail to identify the precise services offered at those locations. The bank also established or maintained a branch in Tehran, Iran. This cross-border office was significant because, as of 2017, the institution was counted among the five foreign banks with an office in Iran. The available material does not document the date of the Tehran branch's opening, its scale, or its specific business activities. No reliable information is supplied about changes in ownership, mergers, recapitalization, leadership, financial results, product launches, regulatory disputes, or later strategic developments. The bank's documented historical profile therefore remains focused on its 2006 establishment, its Iraqi branch network, and its presence in Iran by 2017.

  • 2017

    Recognized among foreign banks operating in Iran

    [1]

    The bank was identified as one of five foreign banks with an office in Iran, reflecting its documented Tehran presence.

  • 2006

    Bank established

    [1]

    Islamic Cooperation Investment Bank was established as a private bank in Iraq.

Products and positioning

A private Iraqi banking institution with a domestic branch network and a documented cross-border presence in Iran.

Sources1 sources

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