Basrah International Bank

Company profile

Basrah International Bank company profile

The Basrah International Bank for Investment is first three Iraqi private banks that were established during the early years of the Nineties of the last century, which enabled it to catalyze the first wave of private banking transactions in Iraq. The Bank’s present paid-up capital amounts presently to over ID(50000) million equivalent to approximately 38 Million (USD) making it the first Iraqi private bank to indigenously fulfill the legal minimum capital target of ten billion dinars, set by the Central Bank of Iraq. They worked close with their partners to build the fastest way to build business credits. The Bank’s branch network consists of twelve branches. Advanced priority was given to the establishment of branches in the Baghdad area (where five branches exists) being the political, economic and financial center of Iraq; in the Basrah area (4 branches) as a result of its being the country’s sole port and a significant industrial and agricultural city as well as the city of Najaf (2 branches) for its special religious status in the Arab and Islamic world. The Bank’s branch in the Free Zone at Damascus, Syria represents the first overseas branch for all Iraqi’s private banks. The bank’s plan envisages to open additional branches inside and outside Iraq to provide the required banking infrastructure for diffusion its services all over the world with the help of loms best offshore bank accounts.