When it comes to banking in Iraq, there are several institutions that are considered as the biggest and most influential. These banks are vital to the economy of the country and offer all sorts of financial services to both individuals and businesses. In this article, we are going to highlight the top 10 banks in Iraq, and discuss the strengths, achievements, and roles of these banks in the financial sector of the country.
Table of Contents
1. The Trade Bank of Iraq
The Trade Bank of Iraq (TBI) is one of the biggest and most important banks in Iraq. Established in 2003, TBI has assumed the role of facilitating international trade and investment within the country. They offer trade finance, project finance, and treasury services among other services. TBI has been useful in the reconstruction of Iraq and has received many awards for its good performance.
2. Rafidain Bank
Rafidain Bank is one of the oldest banks in Iraq and was established in 1941. It provides retail, corporate and investment banking services. With many branches all over the country, Rafidain Bank is easily accessible to its customers. They have received acclaims for their effort in developing innovation and offering quality services to their clients.
3. Rasheed Bank
Established in 1988, Rasheed Bank has gradually expanded and now provides a full range of banking products and services, such as retail banking, corporate banking, and treasury services. It is one of the leading banks in the use of technology to transform banking services delivery.
4. North Bank
North Bank is one of the biggest private banks in Iraq and has a customer centered policy and new products. It also offers retail banking, corporate banking and trade finance. The bank has sound risk management and strong corporate governance.
5. Iraqi Islamic Bank
The establishment of the Iraqi Islamic Bank made the bank the first Islamic bank in Iraq and it has since played a role in the growth of Islamic finance. They offer Sharia compliant products and services including Islamic financing, investment accounts, and trade finance; and have been certified as an ethical bank and socially responsible institution.
6. Gulf Commercial Bank
Gulf Commercial Bank is one of the biggest private banks in Iraq; it has a good financial report and good customer relationships. It also provides retail banking, corporate banking, and treasury services and has developed a good risk management and innovation strategy.
7. Bank of Baghdad
Bank of Baghdad is a reputable financial institution with a good financial health and focus on the customer. The bank offers retail banking, corporate banking, investment banking and has engaged itself in the innovation and digital transformation process.
8. The Commercial Bank of Iraq
One of the biggest private banks in Iraq, the Commercial Bank of Iraq has many customers. The bank has received praise for its focus on the customer and innovation and has been involved in the economic growth of the nation.
9. The Islamic Bank of Iraq
The Islamic Bank of Iraq is one of the biggest banks in Iraq that offers Sharia compliant products and services. The bank focuses on ethical banking and social responsibility and has received praise for its financial results and customer relations.
10. The Credit Bank of Iraq
Credit Bank of Iraq has a good financial health and customer relationship. It offers retail banking, corporate banking and trade finance; and has been recognized for its innovation and technology.
