Bank of Baghdad

What Bank of Baghdad does

Bank of Baghdad is one of Iraq's largest private commercial banks, founded in 1992 and headquartered in Baghdad. It operates a full-service retail, corporate, and international banking franchise through 36 branches across Iraqi governorates, 141 ATMs, and one international branch in Beirut, Lebanon. The bank serves three primary customer segments: retail individuals (via current/savings/fixed deposit accounts, Visa Infinite/Platinum/Classic debit cards, personal loans, and the Tawteen salary-linked program), corporate clients (via current accounts, corporate loans, overdrafts, letters of credit, letters of guarantee, and trade finance), and international customers (via MoneyGram remittances, SWIFT transfers, and correspondent banking relationships with Citibank, JPMorgan, DBS, and UniCredit). Named infrastructure placements include ATMs at BP, ENKA, Oil Serv facilities, the US and British embassies, the American University of Baghdad, and Carrefour malls.

The bank's core technology stack comprises an internet banking platform with 24/7 account access and payroll services, a mobile banking application with IBAN generation and card management, an ATM network of 141 machines, and a corporate web/mobile platform. Infrastructure integrations include SWIFT for cross-border transfers, RTGS and CT-ACH for domestic clearing, Visa for card payments, and MoneyGram for retail remittances covering over 200 countries. The bank holds ISO 9001:2015 quality management certification, is rated B/B by Capital Intelligence (June 2021), and was the first Iraqi bank to apply the newly developed Central Bank of Iraq Governance Framework (November 2025).

The revenue model is diversified across five primary streams: (1) interest income from retail, corporate, and gold-backed loans (Tawteen loans priced at 5.5% fixed up to IQD 50M); (2) deposit interest spreads on IQD fixed deposits (2.5%-5.25%) and USD deposits (1%-1.75%); (3) transaction fees including MoneyGram remittances ($15-$130 by amount band) and international wire transfers; (4) commissions from documentary letters of credit, bank guarantees, and trade finance services; and (5) card services revenue from Visa Infinite, Platinum, and Classic debit card issuance and usage. Customer acquisition combines a 36-branch physical distribution network, digital banking channels (online and mobile), partnership-based marketing (Royal Jordanian, OSN+, Dose Cafe), and dedicated Business Relations Managers in the Corporate Banking division.

Name

Bank of Baghdad

Legal name

Bank of Baghdad

Website

https://bankofbaghdad.com.iq

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Bank of Baghdad is a private Iraqi commercial bank founded in 1992, operating 36 branches and 141 ATMs across Iraq with one Beirut international branch. It serves retail customers, corporates, and salary-based employees with deposits, lending, Visa cards, trade finance, and international transfers via correspondent and MoneyGram networks.

Ownership category

akta.pro rank

Headquarters

HQ city

Baghdad

HQ country

Iraq

HQ region

Middle East

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income from Loans: The bank generates revenue through interest on corporate loans (industrial, trade, real estate, construction), gold loans, and personal loans including the Tawteen salary-linked loan product
2. Money Transfer Fees: MoneyGram service fees ranging from $15 to $130 depending on transfer amount, and international wire transfer fees through SWIFT
3. Letter of Credit and Guarantee Commissions: Commission income from documentary LCs (import/export), bank guarantees (bid bonds, performance, advance payment, customs, quality), and trade finance services
4. Fixed Deposit Interest Spreads: Interest earned on fixed deposits in Iraqi Dinar (2.5%-5.25%) and USD (1%-1.75%) with competitive rates to attract deposits
5. Card Services: Visa debit card issuance (Infinite, Platinum, Classic) with various features and benefits, including annual fees and transaction charges

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Bank of Baghdad is a private commercial bank providing retail and corporate banking products and services in Iraq, including current/savings/fixed deposit accounts in IQD and USD, the Tawteen salary-linked account, Visa debit cards (Infinite, Platinum, Classic), personal and corporate loans, gold-backed loans, letters of credit and guarantees, overdrafts, and international money transfers via SWIFT and MoneyGram, delivered through 36 branches, 141 ATMs, internet and mobile banking channels, and an international branch in Beirut.

Product overview

Bank of Baghdad operates as a full-service commercial bank providing a comprehensive portfolio of banking products across retail, corporate, and digital channels. The core offerings include current accounts, savings accounts, and fixed deposits (retail and corporate) in multiple currencies; Visa debit cards across Infinite, Platinum, and Classic tiers; personal and corporate loan products including gold loans and overdraft facilities; trade finance services comprising letters of credit and letters of guarantee; and money transfer services via SWIFT, MoneyGram, and correspondent bank networks. Digital banking is delivered through online banking, mobile banking applications, and an extensive ATM network of 141+ machines. Specialized services include the Tawteen salary transfer program for employees, corporate business services centers, and international banking through correspondent relationships with global banks.

Differentiator

Problem solved

Functional benefit

Brands

• Tawteen: Salary transfer service designed for public and private sector employees to manage their income and access financial solutions
• MoneyLink
• EzeePay

Products and services

• Retail Current Accounts Zero-balance current accounts in Iraqi dinars, US dollars, British pounds, or Euros enabling daily banking transactions, cash withdrawals, purchases, and money transfers for individual retail customers.
• Savings Accounts Savings accounts with no minimum balance requirement, guaranteed profit margin, and interest calculated on daily balance and paid annually, designed for individual retail customers.
• Retail Fixed Deposits Accounts Term savings deposits in Iraqi Dinar (2.5%-5.25%) and US Dollar (1%-1.75%) with flexible maturity options from 1 month to 2 years and automatic renewal capabilities.
• Tawteen Salary Account Salary transfer service for public and private sector employees providing zero-balance current accounts with free debit cards, mobile banking, and preferential loan access up to IQD 50,000,000 at 5.5% fixed interest with tenor up to 6 years.
• Gold Loans Gold-backed financing allowing customers to obtain cash funding up to IQD 20,000,000 secured by pledged gold jewelry, with free secure storage, no guarantors required, no salary transfer required, and possible renewal.
• Visa Infinite Debit Card Premium debit card for elite customers with high purchase limits, free airport lounge access, 3D Secure protection, contactless payment, supplementary cards, and travel insurance up to 90 days.
• Visa Platinum Debit Card Mid-tier debit card with high purchase limits, contactless payment, 3D Secure protection, supplementary card issuance, and customizable daily withdrawal and payment limits.
• Visa Classic Debit Card Entry-level debit card for everyday banking with POS and ATM access, contactless payment, 3D Secure protection, and supplementary card options.
• Corporate Current Accounts Call accounts for businesses facilitating deposits and withdrawals in Iraqi Dinar, US Dollars, and other major currencies with cheque books and online banking access.
• Corporate Fixed Deposits Accounts Term deposit accounts for corporates in Iraqi dinars, US dollars, British pounds, Euros, and other major currencies with preferential interest rates and flexible investment periods.
• Overdraft Accounts Credit facilities for business sector and SMEs providing additional liquidity for working capital financing with customizable ceilings and monthly interest charged on utilized balances.
• Corporate Loans Long-term project, contract, and asset financing solutions for large institutions and companies with periodic installments based on customer cash flows.
• Letters of Credit Documentary LC services for import and export transactions providing payment guarantees, shipment documentation, and fraud protection through a network of correspondent banks.
• Letters of Guarantee Bank guarantee commitments including bid bonds, performance guarantees, advance payment guarantees, customs guarantees, and quality guarantees for commercial tenders and projects.
• Money Transfer Service Local and international bank transfer services through correspondent banks worldwide with SWIFT support and transfers in all foreign currencies.
• MoneyGram International Transfer International money transfer service covering over 200 countries with transfers delivered within minutes and a competitive fee structure ranging from $15 to $130.
• Mobile Banking Application Mobile app enabling account access, balance viewing, IBAN generation, statement extraction, money transfers, branch/ATM location, and currency rate information.
• Online Banking
• ATM Services
• Corporate Business Services Center

Named customers8 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered flagship, core and minor.

• Royal Jordanian AirlinesflagshipGTM or Marketing Partner · 1 May 2026Joint promotion offering 10% off flight tickets for Bank of Baghdad Visa Platinum and Infinite debit cardholders booking through Royal Club program. Valid booking period May 1, 2026 to July 15, 2026 for travel to Levant, EU, and USA destinations.
• OSN+flagshipGTM or Marketing Partner · 12 October 2025Strategic partnership offering eligible Bank of Baghdad customers a complimentary 12-month OSN+ Standard subscription with ads. Available to Elite Clients, Visa Infinite cardholders, or cardholders who spent 500,000+ IQD internationally within a month. Valid October 14, 2025 to April 14, 2026.
• International Finance Corporation (IFC)flagshipStrategic or Co-development Partner · 15 September 2025Bank of Baghdad signs agreement with IFC under GTFP (Global Trade Finance Program) to boost international trade capabilities and support corporate customers with trade finance solutions.
• MoneyGramcoreChannel Partner/ Reseller/ DistributorMoneyGram international money transfer service available across all Bank of Baghdad branches. Covers over 200 countries with transfers delivered within minutes. Competitive fees below global average ranging from $15 to $130.
• Dose CafeminorGTM or Marketing PartnerExclusive 20% discount at Dose Cafe for Bank of Baghdad cardholders. Valid for three months from launch date. No minimum purchase required.
• Iraqi Company for Deposits Insurance (ICDI)coreOthersBank's deposits are insured by The Iraqi Company for Deposits Insurance (ICDI), providing customer deposit protection.
• VisacoreTechnology or IntegrationVisa debit card issuance partnership providing Visa Infinite, Visa Platinum, and Visa Classic cards with global acceptance, lounge access, travel insurance, and exclusive benefits.
• Citibank N.A.coreOthersCorrespondent banking relationship for international transactions and money transfers through New York branch.
• JPMorgan Chase Bank N.A.coreOthersCorrespondent banking relationship for international transactions and money transfers through New York branch.
• DBS Bank LtdcoreOthersCorrespondent banking relationship for international transactions in Singapore and China branches.
• UniCredit Bank AGcoreOthersCorrespondent banking relationship for international transactions in Germany.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Regional players

• Byblos Bank: Lebanese bank with retail, corporate and correspondent banking across the Middle East, comparable to Bank of Baghdad's regional cross-border banking activity and Lebanese Beirut branch.
• Gulf Bank: Kuwait-based commercial bank with retail and corporate banking products comparable to Bank of Baghdad's; serves as a regional comparable for MENA commercial banking economics and digital adoption benchmarks.
• Bank Audi: Lebanese-headquartered regional bank operating across MENA with retail, corporate and private banking services; comparable as a regional peer given Bank of Baghdad's Beirut international branch and similar product mix.

Direct peers

• Commercial Bank of Iraq: Iraqi commercial bank providing deposit accounts, lending and trade finance products across Iraqi governorates, directly overlapping with Bank of Baghdad's retail and corporate banking product set and customer base.
• Trade Bank of Iraq: Iraqi state-owned commercial bank focused on trade finance and corporate banking, directly comparable to Bank of Baghdad's corporate lending, letters of credit and guarantee businesses within the same Iraqi market.
• National Bank of Iraq: One of Iraq's largest private commercial banks offering retail and corporate banking with multi-branch presence, directly competing with Bank of Baghdad for the same Iraqi retail deposits, SME and corporate customers.
• Bank of Iraq: Iraqi private commercial bank offering retail and corporate accounts, cards, transfers and trade services, directly competing with Bank of Baghdad in the same Iraqi market.

Broad incumbents

• Arab Bank: Jordan-headquartered bank with one of the largest branch networks in the Middle East and historical presence in Iraq, offering overlapping retail, corporate, trade finance and correspondent banking services to Iraqi customers.
• Emirates NBD: Large UAE-headquartered bank with regional retail, corporate, Islamic and trade finance operations, useful as a broad MENA incumbent comparable for product breadth, digital banking maturity and GCC-Iraq corridor flows.
• Standard Chartered: Global universal bank with a long-standing Iraq franchise serving corporate, institutional and trade finance clients, competing with Bank of Baghdad for large corporate mandates and international transactions.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank of Baghdad