Banking in Iraq

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Modern-style banking in Iraq roots from the beginning of the 20th century.

Iraq's two main state-owned banks are the largest banks in Iraq and have a shared history. In 1988, Rasheed Bank was spun off from Rafidain Bank.

Banking group  | Established  | Number of
Branches  | Total Assets
(Iraqi Dinar billion)  | Share of
total
banking system
assets  | Share of
total
banking system
credit  | Share of
total
banking system
deposits

|
|
|
|
|
|

Rasheed Bank  | 1988  | 162  |  |  |  |
Rafidain Bank  | 1941  | 147  |  |  |  |

## Specialist state owned banks

It also has four specialist state-owned banks.

Bank  | Established  | Purpose

|
|

Agricultural Cooperative Bank of Iraq  | 1935  | Provide credit and banking services to Iraq's agricultural sector
Bank of Iraq  | 1991  | Founded as the Iraqi Socialist Bank
Industrial Bank of Iraq  | 1946  | Financing and supporting Iraq’s industrial sector
Real Estate Bank of Iraq  | 1948  | Financing and supporting Iraq's housing projects

## Private Commercial Banks

Iraq has many private banks that are operate across the Governorates of Iraq. These include:

Bank  | Established  | Number of
Branches

|
|

Babylon Bank  | 1998  | 12
Bank of Baghdad  | 1992  |
Basrah International Bank for Investment  | 1993  | 12
Dar Es Salaam Investment Bank  | 1998  |
Gulf Commercial Bank  | 2000  | 12
Iraqi Islamic Bank  | 2000  | 14
Islamic Cooperation Investment Bank  | 2006  | 10
Warka Bank  | 1999  | 120

## Supervision and regulation

The Central Bank of Iraq supervises Iraqi banks.

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Banking in Asia

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limited recognition|

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other territories|

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