Republic of Iraq // IRAP Authority
Rafidain Bank iraq
REF: IRAP-IQ-REG-1086
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
Welcome to Rafidain Bank, the largest and most historic financial institution in Iraq. Established in 1941, we have stood for over eight decades as the backbone of the national economy and the primary banking partner for the Iraqi government and its people. As a state-owned entity, we are not just a bank; we are a symbol of stability, evolving from a traditional lender into a modern financial powerhouse dedicated to reconstruction, development, and financial inclusion.
Who We Are
Rafidain Bank was founded with a vision to nationalize and strengthen Iraq’s financial independence. Headquartered on Al-Rasheed Street in Baghdad, we operate the largest banking network in the country. Our deep-rooted presence allows us to serve millions of citizens, from government employees and retirees to entrepreneurs and major corporations.
With a legacy extending back to the Kingdom era, through the Republic, and into the modern day, we have consistently adapted to the times. Today, we are leading the charge in digital transformation, implementing advanced systems like GoAML to combat financial crime and partnering with Qi Card to revolutionize electronic payments in Iraq.
Our Leadership
Dr. Ali Karim Hussein Al-Fatlawi
Director General
Under the strategic leadership of Dr. Ali Karim Hussein Al-Fatlawi, Rafidain Bank is undergoing a comprehensive restructuring aimed at modernizing its infrastructure and services. The bank’s current strategy focuses on automating operations, expanding credit for small and medium enterprises (SMEs) through the "Riyada" (Entrepreneurship) initiative, and restoring Rafidain’s status as a globally connected financial institution.
Our Mission & Vision
Our Vision
To remain the number one bank in Iraq and a regionally competitive financial institution that combines heritage with modern technology to drive national prosperity.
Our Mission
Support the Economy: To provide the liquidity and capital needed for Iraq’s infrastructure and industrial reconstruction.
Serve the Citizen: To offer accessible loans, housing finance, and seamless salary domiciliation (Tawteen) services.
Innovate: To transition from paper-based banking to fully digital solutions, ensuring speed, transparency, and security for all customers.
Our Services
We provide a vast array of services catering to every segment of society:
Retail Banking: We are the primary provider of personal loans, housing loans, and the famous "Salefni" (Advance) products for employees and retirees.
Electronic Payments: In partnership with International Smart Card (Qi Card) and MasterCard, we issue millions of cards that facilitate salary payments and daily transactions.
Corporate Finance: We fund major state projects and private sector investments through Letters of Credit (LCs), Letters of Guarantee, and large-scale project loans.
Riyada Initiative: A dedicated program to finance youth entrepreneurs and small businesses, fostering a new generation of Iraqi business leaders.
Network & Global Reach
Rafidain Bank holds the largest footprint of any bank in Iraq
Domestic Network: Over 165 branches spread across every governorate, ensuring that no matter where you are in Iraq, Rafidain is nearby.
International Branches: We connect Iraq to the region and the world with active branches in Cairo (Egypt), Beirut (Lebanon), Amman (Jordan), Abu Dhabi (UAE), and Bahrain, along with a branch in Sana'a (Yemen).
Who We Are
Rafidain Bank was founded with a vision to nationalize and strengthen Iraq’s financial independence. Headquartered on Al-Rasheed Street in Baghdad, we operate the largest banking network in the country. Our deep-rooted presence allows us to serve millions of citizens, from government employees and retirees to entrepreneurs and major corporations.
With a legacy extending back to the Kingdom era, through the Republic, and into the modern day, we have consistently adapted to the times. Today, we are leading the charge in digital transformation, implementing advanced systems like GoAML to combat financial crime and partnering with Qi Card to revolutionize electronic payments in Iraq.
Our Leadership
Dr. Ali Karim Hussein Al-Fatlawi
Director General
Under the strategic leadership of Dr. Ali Karim Hussein Al-Fatlawi, Rafidain Bank is undergoing a comprehensive restructuring aimed at modernizing its infrastructure and services. The bank’s current strategy focuses on automating operations, expanding credit for small and medium enterprises (SMEs) through the "Riyada" (Entrepreneurship) initiative, and restoring Rafidain’s status as a globally connected financial institution.
Our Mission & Vision
Our Vision
To remain the number one bank in Iraq and a regionally competitive financial institution that combines heritage with modern technology to drive national prosperity.
Our Mission
Support the Economy: To provide the liquidity and capital needed for Iraq’s infrastructure and industrial reconstruction.
Serve the Citizen: To offer accessible loans, housing finance, and seamless salary domiciliation (Tawteen) services.
Innovate: To transition from paper-based banking to fully digital solutions, ensuring speed, transparency, and security for all customers.
Our Services
We provide a vast array of services catering to every segment of society:
Retail Banking: We are the primary provider of personal loans, housing loans, and the famous "Salefni" (Advance) products for employees and retirees.
Electronic Payments: In partnership with International Smart Card (Qi Card) and MasterCard, we issue millions of cards that facilitate salary payments and daily transactions.
Corporate Finance: We fund major state projects and private sector investments through Letters of Credit (LCs), Letters of Guarantee, and large-scale project loans.
Riyada Initiative: A dedicated program to finance youth entrepreneurs and small businesses, fostering a new generation of Iraqi business leaders.
Network & Global Reach
Rafidain Bank holds the largest footprint of any bank in Iraq
Domestic Network: Over 165 branches spread across every governorate, ensuring that no matter where you are in Iraq, Rafidain is nearby.
International Branches: We connect Iraq to the region and the world with active branches in Cairo (Egypt), Beirut (Lebanon), Amman (Jordan), Abu Dhabi (UAE), and Bahrain, along with a branch in Sana'a (Yemen).