The optimal design of complex infinite impulse response (IIR) two-channel quadrature mirror filter (QMF) banks with equiripple frequency response is considered. The design problem is appropriately formulated to result in a simple optimization problem. Therefore, based on a variant of Karmarkar's algorithm, we can efficiently solve the optimization problem through a frequency sampling and iterative approximation method to find the complex coefficients for the IIR QMFs. The effectiveness of the proposed technique is to form an appropriate Chebyshev approximation of a desired response and then find its solution from a linear subspace in several iterations. Finally, simulation results are presented for illustration and comparison.