Republic of Iraq // IRAP Authority
Rasheed bank
REF: IRAP-IQ-REG-1087
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 Al-Rasheed Bank, the second-largest state-owned financial institution in Iraq and a pillar of the national economy. Established on November 1, 1988, under Law No. 52, we were founded to expand the country's banking capacity and support its growing development needs. For over 35 years, we have served as a trusted partner to the Iraqi government, major corporations, and millions of citizens, combining our deep historical roots with a modern vision for financial inclusion.
Who We Are
Headquartered in the heart of Baghdad on Al-Rasheed Street (Al-Khulafa), we operate as a government-owned commercial bank with a massive network of over 160 branches spanning every governorate in Iraq.
Al-Rasheed Bank is a key driver of the "Tawteen" (Salary Domiciliation) national project. Through our "Nakheel" MasterCards, we provide secure salary payments to hundreds of thousands of public sector employees and retirees, offering them exclusive access to loans, advances, and modern electronic payment services.
Our Leadership
Executive Management
Our bank is led by a team of experienced financial experts appointed by the Ministry of Finance. The management is currently focused on a comprehensive digital transformation strategy, which includes:
Implementing the Temenos core banking system to automate operations.
Integrating with the "Ur" National Platform to allow citizens to apply for loans online.
Enforcing strict compliance with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) international standards.
Our Mission & Vision
Our Vision
To be the leading modern bank in Iraq, offering digital-first financial solutions that improve the quality of life for our citizens and support the growth of our national economy.
Our Mission
Innovate: To move beyond traditional banking by launching services like the Rasheed Mobile App and electronic fuel payments.
Empower: To support the private sector and youth through the "Riyada" initiative and small business loans.
Sustain: To finance Iraq's green future with specialized low-interest Solar Energy Loans for homes and businesses.
Our Services
We offer a wide range of products designed for the modern Iraqi economy:
Nakheel Store & Card: Exclusive financing and installment plans for holders of the Nakheel MasterCard, widely used by government employees.
Retail Loans: We offer Housing Loans, Construction Loans, and Personal Advances with competitive interest rates and long repayment periods (up to 20 years for housing).
Corporate Banking: We support trade and investment through Letters of Credit (LCs), Letters of Guarantee (LGs), and overdraft facilities.
Digital Services: Our customers can now check balances, transfer funds, and pay bills via our secure mobile application.
Who We Are
Headquartered in the heart of Baghdad on Al-Rasheed Street (Al-Khulafa), we operate as a government-owned commercial bank with a massive network of over 160 branches spanning every governorate in Iraq.
Al-Rasheed Bank is a key driver of the "Tawteen" (Salary Domiciliation) national project. Through our "Nakheel" MasterCards, we provide secure salary payments to hundreds of thousands of public sector employees and retirees, offering them exclusive access to loans, advances, and modern electronic payment services.
Our Leadership
Executive Management
Our bank is led by a team of experienced financial experts appointed by the Ministry of Finance. The management is currently focused on a comprehensive digital transformation strategy, which includes:
Implementing the Temenos core banking system to automate operations.
Integrating with the "Ur" National Platform to allow citizens to apply for loans online.
Enforcing strict compliance with Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) international standards.
Our Mission & Vision
Our Vision
To be the leading modern bank in Iraq, offering digital-first financial solutions that improve the quality of life for our citizens and support the growth of our national economy.
Our Mission
Innovate: To move beyond traditional banking by launching services like the Rasheed Mobile App and electronic fuel payments.
Empower: To support the private sector and youth through the "Riyada" initiative and small business loans.
Sustain: To finance Iraq's green future with specialized low-interest Solar Energy Loans for homes and businesses.
Our Services
We offer a wide range of products designed for the modern Iraqi economy:
Nakheel Store & Card: Exclusive financing and installment plans for holders of the Nakheel MasterCard, widely used by government employees.
Retail Loans: We offer Housing Loans, Construction Loans, and Personal Advances with competitive interest rates and long repayment periods (up to 20 years for housing).
Corporate Banking: We support trade and investment through Letters of Credit (LCs), Letters of Guarantee (LGs), and overdraft facilities.
Digital Services: Our customers can now check balances, transfer funds, and pay bills via our secure mobile application.