Modern-style banking in Iraq roots from the beginning of the 20th century.
Iraq's two main state-owned banks are the largest banks in Iraq and have a shared history. In 1988, Rasheed Bank was spun off from Rafidain Bank.
Banking group Established Number ofBranches Total Assets(Iraqi Dinar billion) Share oftotalbanking systemassets Share oftotalbanking systemcredit Share oftotalbanking systemdeposits Rasheed Bank 1988 162 Rafidain Bank 1941 147
Specialist state owned banks It also has four specialist state-owned banks. Bank Established Purpose Agricultural Cooperative Bank of Iraq 1935 Provide credit and banking services to Iraq's agricultural sector Bank of Iraq 1991 Founded as the Iraqi Socialist Bank Industrial Bank of Iraq 1946 Financing and supporting Iraq’s industrial sector Real Estate Bank of Iraq 1948 Financing and supporting Iraq's housing projects
Private Commercial Banks Iraq has many private banks that are operate across the Governorates of Iraq. These include: Bank Established Number ofBranches Babylon Bank 1998 12 Bank of Baghdad 1992 Basrah International Bank for Investment 1993 12 Dar Es Salaam Investment Bank 1998 Gulf Commercial Bank 2000 12 Iraqi Islamic Bank 2000 14 Islamic Cooperation Investment Bank 2006 10 Warka Bank 1999 120
Supervision and regulation The Central Bank of Iraq supervises Iraqi banks.