Republic of Iraq // IRAP Authority
National Bank of Iraq (NBI)
REF: IRAP-IQ-REG-1081
Integrity Score
0.0
/5.0
Based on our audit
IRAP Verified Checklist
- Legal License Verified
- Physical Location Confirmed
- No Major Complaints Found
Executive Audit Summary
The National Bank of Iraq was established in 1995 as a public shareholding company within the private sector to provide an integrated set of banking services to companies and individuals in Iraq.
In 2005, Capital Bank (Jordan) purchased the majority of the National Bank of Iraq’s shareholding (61.85%), which empowered the National Bank of Iraq with developing its products and services, strengthening its global foothold and enhancing its financial inclusion nationwide.
Thanks to its wide network of correspondent banks, Capital Bank represents the National Bank of Iraq's gateway to global economies, where it facilitates the sending and receiving of internal and external transfers, grants credit facilities, and provides trade financing services.
And in pursuit of better servicing our client base across the region, and more importantly, in Iraq and Saudi Arabia, we’ve established our operations in Saudi Arabia. This effort facilitates trade between the two countries in response to the export growth and allows the Bank to expand its scope of services provided in the corporate sector across Jordan, Iraq, UAE, and now Saudi Arabia by providing them with commercial solutions and banking services that help them go further and faster.
In addition, NBI can trade on behalf of clients in Jordan and international markets through Capital Investments, Capital Bank’s main investment arm, as well as offer trading services in Iraq Stock Exchange Market through its wholly owned subsidiary, Iraqi Money Brokerage Company.
NBI also owns %51 of Al-Ahly Iraqi Finance Company’s capital, which was established in 2022 to serve the bank’s customers and various segments of citizens by providing integrated financing solutions that match the customers various needs.
The bank also provides custodial services to investors in the Iraq Stock Exchange, such as opening a securities account for each investor, notifying him of all procedures and decisions taken by stock companies as well as providing him with a detailed monthly account statement, in addition to registering, freezing or transferring securities and any other tasks consistent with provisions and instructions of the law.
The bank operates through an advanced banking system to support its growth and serve its customers. Capital Bank and all its subsidiaries collaborate with Ernst & Young to audit all their accounts and prepare their financial reports in accordance with international accounting standards.
The National Bank of Iraq has been ranked by the largest international financial institutions such as Capital Intelligence (BB), Moody’s (B3) and ranked by the Central Bank of Iraq as (Excellent).
The bank is currently working on opening 8 new branches across Iraqi governorates
In 2005, Capital Bank (Jordan) purchased the majority of the National Bank of Iraq’s shareholding (61.85%), which empowered the National Bank of Iraq with developing its products and services, strengthening its global foothold and enhancing its financial inclusion nationwide.
Thanks to its wide network of correspondent banks, Capital Bank represents the National Bank of Iraq's gateway to global economies, where it facilitates the sending and receiving of internal and external transfers, grants credit facilities, and provides trade financing services.
And in pursuit of better servicing our client base across the region, and more importantly, in Iraq and Saudi Arabia, we’ve established our operations in Saudi Arabia. This effort facilitates trade between the two countries in response to the export growth and allows the Bank to expand its scope of services provided in the corporate sector across Jordan, Iraq, UAE, and now Saudi Arabia by providing them with commercial solutions and banking services that help them go further and faster.
In addition, NBI can trade on behalf of clients in Jordan and international markets through Capital Investments, Capital Bank’s main investment arm, as well as offer trading services in Iraq Stock Exchange Market through its wholly owned subsidiary, Iraqi Money Brokerage Company.
NBI also owns %51 of Al-Ahly Iraqi Finance Company’s capital, which was established in 2022 to serve the bank’s customers and various segments of citizens by providing integrated financing solutions that match the customers various needs.
The bank also provides custodial services to investors in the Iraq Stock Exchange, such as opening a securities account for each investor, notifying him of all procedures and decisions taken by stock companies as well as providing him with a detailed monthly account statement, in addition to registering, freezing or transferring securities and any other tasks consistent with provisions and instructions of the law.
The bank operates through an advanced banking system to support its growth and serve its customers. Capital Bank and all its subsidiaries collaborate with Ernst & Young to audit all their accounts and prepare their financial reports in accordance with international accounting standards.
The National Bank of Iraq has been ranked by the largest international financial institutions such as Capital Intelligence (BB), Moody’s (B3) and ranked by the Central Bank of Iraq as (Excellent).
The bank is currently working on opening 8 new branches across Iraqi governorates