The National Bank of Iraq (NBI) was founded in 1995 as a publicly traded, private sector company, offering comprehensive banking services to individuals and businesses in Iraq. As a result of the Bank’s success and to fuel future growth, its paid up capital was increased from the initial 400 million IQD (USD 361,000) to IQD 250 billion (USD 215 million) in December 2013.
In 2005, Capital Bank Jordan acquired majority shares (61.85%) in the Bank, allowing NBI to evolve its business offerings, strengthen its global footprint, and promote financial inclusion across the country.
With its extensive network of correspondent banks, Capital Bank stands as NBI’s gateway to world economies, facilitating internal and external remittances, granting lines of credit, as well as offering trade finance services.
In addition, NBI can trade on behalf of clients in Jordan and international markets through Capital Investments, Capital Bank’s investment arm, as well as offer trading services in the Baghdad Stock Exchange through its wholly owned subsidiary, Wahat Al-Nakheel.
The Bank operates a modern core banking system to support its growth and customer services. Capital Bank and its subsidiaries audit all accounts through Ernst and Young, and report financials in accordance with International Accounting Standards.
The Bank has earned a BB-rating by Capital Intelligence, the international credit rating agency. It further received a ‘Good’ rating by the Central Bank of Iraq.
Today, NBI has 11 branches in all major cities in Iraq.