Financial Organizations Managed by Central Bank of Iraq

The banking sector in Iraq features different types of banks such as state banks, private banks, the Islamic banks, international banks, financial institutions, financial organizations and financial investment companies. All these banking entities are supervised by the Central Bank of Iraq.
The names of the banking organizations managed by the Central Bank of Iraq can be mentioned as below:

State Banks:
Rafidain Bank
Real Estate Bank
Rasheed Bank
Iraq Bank
Industrial Bank of Iraq
Trade Bank of Iraq

Agricultural Cooperation Bank

Private Banks:
Baghdad Bank
Sumer Commercial Bank
Commercial Bank of Iraq
Gulf Commercial Bank
Iraqi Middle East Bank for Investment
Warka Bank for Investment & Finance
Investment Bank of Iraq
North Bank for Finance & Investment
United Bank for Investment
Union Bank of Iraq
Dar Al-Salam Investment Bank
Ashur International Bank for Investment
Mosul Bank for Development & Investment
Mansour Bank for Investment
Babylon Bank
Trans Iraq Bank
Basrah International Bank for Investment
Emerald Bank
National Bank of Iraq
Bank of Huda
Credit Bank of Iraq
Erbil Bank for Investment & Finance
Economy Bank for Investment & Finance
Islamic Banks:
Iraqi Islamic Bank for Investment & Development
Bank Al-Bilad Islamic for Investment & Finance
Elaf Islamic Bank
Cihan Bank for Islamic Investment & Finance
Kurdistan International Bank for Investment & Development
International Development Bank for Investment & Islamic Finance
National Islamic Bank
Abu Dhabi Islamic Bank
Dijlah & Furat Bank for Development & Investment
Al-Baraka Turkatilim Bankasi A.S.
Regional Cooperation of the Islamic Bank for Development & Investment
International Banks:
Arab Banking Corporation
Intercontinental Bank of Lebanon
T.Cziraat Bank Asi A.S
Bank of Beirut & the Arab Countries
Bank Melli Iran
Turkish Is Bank A.S.
Lebanon’s Byblos Bank
Vakif Bank
Financial Institutions:
Iraqi Company for Bank Guarantee
Iraq Stock Exchange
Iraqi Association of Securities Dealers
International Smart Card (Semi Government LLC)
Financial Organizations:
Al-Nibal Al Arabya for Money Transfer
Al-Rajah for Money
Mouta Company for Remittances
Immortal River Corporation
Ataa Garri Co. for Money Transfer
United Company for Financial
Al-Nada
Al-Teeb
Golden Series Financial Transfers
Al-Motaman
Jenoob
Al-Ameen
Aebr Al-Kaarat
Belad Al-Shaam
Al-Rabita Almalia
Al-Taif Money Transfer Co.
Sama Baghdad Finance Transfer
Nobles Convertible Financial
Al-Waeel Money
Al-Noor
Al-Shariq
United Company for Financial
Iraqna Money Transfer JSC
The Banks of the Tigris & Euphrates
Al-Harith Arabic Co. for Remittances
Ataa Al-Kawthar
Al-Bayinah Exchange Co. for Money
Al-Asswar Co. for Money Transfer
Al-Maraj Al-Alamiya Co. for Money Transfer
Al-Muhej for Money Transfer
Al-Lulu Money Transfer
Al-Hareer Co. for Money Transfer
Financial Investment Companies:
Al-khair Financial Investment Company PLC
Mesopotamia Investment Company
Al-Wiaam Financial Investment Co.
Alkema
Al-Zawraa Financial Investment PLC
Alkaima
Alebattk
Alayam
Alameen
Alaumor

The diversity in the banking sector of Iraq augurs well for its economic future after the recent wars and operational restrictions. The Central Bank of Iraq was released from government control in 2003.

The decision proved to be a successful one when in that year itself the bank successfully brought down the inflation rate. The overseas banks in Iraq started operating over here from 2004 onwards when 3 organizations were given the necessary permission.

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Last Updated on : 30th July 2013