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19 November 2016

Zain Bank increases its paid-up capital to IQD 250 Billion

Zain Bank has successfully increased its paid-up capital from IQD 100 Billion to IQD 250 Billion to comply with the rules and regulations of the Central Bank of Iraq. Having received its banking license on August 11, 2016, Zain Bank is committed to take the necessary steps to open its doors to customers prior to the end of the current year. Commenting on the capital increase, Zain Bank’s Managing Director said: “We are proud to have increased our capital from IQD100 Billion to IQD250 Billion in such a short period of time. This is an important step towards achieving our goal of becoming fully operational before the end of the current year".

About Zain Bank:
Zain Bank is a newly established Islamic bank with headquarters in Baghdad, Iraq. The Bank was founded by visionary Iraqi investors, who are committed to bringing retail banking services to the masses. With an ambitious expansion plan, Zain Bank aims to become the premier corporate and retail bank in Iraq by offering its clients banking services "anywhere and anytime." The Bank intends to do so by providing modern retail banking services using multi-channel delivery backed by state-of-the-art technologies. The Bank strives to accelerate financial inclusion by targeting the significant proportion of the unbanked population in Iraq through seamless and accessible banking services. Zain Bank also aims to provide holistic banking services to large corporations, SMEs and start-ups through corporate banking services that have been tailored to the Iraqi environment. The Bank strictly adheres to the principles of Islamic Shariah and aims to become a catalyst of Shariah compliant banking products in Iraq.
11 August 2016

Zain Bank receives its banking license from the Central Bank of Iraq

Zain Bank is pleased to announce that it has been awarded its Islamic banking license from the Central Bank of Iraq. Commenting on this important milestone, Zain Bank’s Managing Director said: “We are delighted and proud to have been awarded our Islamic banking license by the Central Bank of Iraq. We look forward to capitalise on this opportunity to enter the Iraqi banking sector and are keen to start providing our services as soon as possible”.

About Zain Bank:
Zain Bank is a newly established Islamic bank with headquarters in Baghdad, Iraq. The Bank was founded by visionary Iraqi investors, who are committed to bringing retail banking services to the masses. With an ambitious expansion plan, Zain Bank aims to become the premier corporate and retail bank in Iraq by offering its clients banking services "anywhere and anytime." The Bank intends to do so by providing modern retail banking services using multi-channel delivery backed by state-of-the-art technologies. The Bank strives to accelerate financial inclusion by targeting the significant proportion of the unbanked population in Iraq through seamless and accessible banking services. Zain Bank also aims to provide holistic banking services to large corporations, SMEs and start-ups through corporate banking services that have been tailored to the Iraqi environment. The Bank strictly adheres to the principles of Islamic Shariah and aims to become a catalyst of Shariah compliant banking products in Iraq.