Mashreq al-Arabi Bank

What Mashreq al-Arabi Bank does

Mashreq al-Arabi Islamic Bank for Investment is a privately held Iraqi Islamic bank headquartered in Baghdad, operating across 9 branches and offices in Baghdad, Basra, Karbala, Ramadi, and Najaf. The bank provides a full suite of Sharia-compliant retail and corporate banking products, including current and savings accounts, six Islamic financing structures (Murabaha, Musharaka, Mudaraba, Ijara, Salam, Istisna), retail financing for vehicles, housing, and gold-backed lending, prepaid and credit cards, domestic and international transfers via SWIFT MX ISO 20022, Sukuk, and corporate banking services. It serves retail individuals, SMEs, and corporate clients across commercial, industrial, agricultural, and real estate sectors, with active outreach to women, youth, and unbanked populations through Central Bank of Iraq-coordinated Financial Inclusion Weeks and university and mall-based on-site account opening.

The bank's technology stack includes a mobile banking application with biometric authentication (fingerprint and facial recognition), GPS-based fraud prevention, end-to-end encryption, two-factor authentication, and 24/7 customer service; a SWIFT MX ISO 20022-compliant messaging layer for international transfers; and a merchant POS terminal network deployed under the CBI-coordinated Al-Samawal campaign. Governance is anchored by an internal Sharia Supervisory Board, a Sharia Compliance Department, an Internal Sharia Audit function, and a Risk Management Department, supported by an Anti-Money Laundering policy framework.

Revenue is generated through profit rates and fees on Islamic financing contracts, transaction fees on cards and transfers, fees on current and savings accounts, payroll digitization services, corporate banking fees, and investment deposit margins. Pricing is partially disclosed (prepaid cards free with 5,000 IQD minimum top-up; credit cards at 15,000 IQD issuance fee); other financing and account pricing is quote-based and not publicly disclosed. Capital was raised to 300 billion Iraqi dinars via General Assembly approval in March 2026, and the bank was named Rising Star in Islamic Banking in Iraq for 2025.

Name

Mashreq al-Arabi Bank

Legal name

Mashreq al-Arabi Islamic Bank for Investment (مصرف المشرق العربي الإسلامي للاستثمار)

Website

https://amb.iq

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

Mashreq al-Arabi Bank is a privately held Iraqi Islamic bank headquartered in Baghdad, operating 9 branches across Iraq. It offers Sharia-compliant retail and corporate banking — accounts, Islamic financing (Murabaha, Ijara, Musharaka), cards, transfers, and SME lending — with a mobile app and POS network.

Ownership category

akta.pro rank

Product category

Islamic Banking

NAICS

Depository Credit Intermediation (5221), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Open-End Investment Funds (52591)

SIC

National Commercial Banks (6021), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

akta.pro secondary industries

Islamic SME & Commercial Banking (FSABAGAB), Islamic Corporate Banking (FSABAGAC), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI), Islamic Investment Banking & Capital Markets Services (FSABAGAG)

Keywords

• Islamic retail banking
• Sharia-compliant financing
• Corporate banking services
• Mobile banking app
• Financial inclusion programs

Headquarters

HQ city

Al Karradah

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. Islamic Financing (Murabaha, Musharaka, Mudaraba, Istisna, Salam, Ijara): The bank earns profit from Islamic financing contracts including Murabaha (cost-plus sale), Musharaka (equity partnership), Mudaraba (profit-sharing), Istisna (manufacturing Salam (advance purchase), and Ijara (lease). Profit rates are agreed upon with customers for car financing, gold-backed financing, housing finance, and SME financing.
2. Current and Savings Account Services: Fees and service charges associated with current accounts (Al-Muhajjabah) and savings accounts (Iktina) for retail customers, including salary transfer services (tawteen al-rawateb).
3. Electronic Card Services: Revenue from Prepaid Cards (free card, minimum 5,000 IQD per top-up) and Credit Cards (15,000 IQD issuance fee). Cards are used for cash withdrawal, online shopping, and POS payments domestically and internationally.
4. Domestic and International Transfers: Fees from internal and external remittance services handled through SWIFT and other international transfer systems.
5. Investment Deposits: Investment deposit products offered to customers seeking Sharia-compliant returns, under Islamic banking principles.
6. Corporate Banking Services: Comprehensive banking services for corporate clients including project financing, trade finance, and investment solutions targeting companies in commercial, industrial, agricultural, and real estate sectors.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Mashreq al-Arabi Bank (legally Mashreq al-Arabi Islamic Bank for Investment) is a Baghdad-based full-service Islamic bank licensed by the Central Bank of Iraq. It offers Sharia-compliant retail products (current accounts, savings accounts, prepaid and credit cards, salary-domestic-international transfers, investment deposits, Sukuk) and Islamic financing structures (Murabaha, Musharaka, Mudaraba, Ijara, Salam, Istisna) for car, housing, gold-collateral and SME lending, plus corporate banking including project and trade finance. Distribution is through 9 branches/offices across Iraq, a mobile banking app, ATMs, and a POS merchant network supported by on-site account opening at financial inclusion events.

Product overview

Mashreq al-Arabi Islamic Bank for Investment is a full-service Islamic bank headquartered in Baghdad, Iraq, operating under Sharia principles. Its product portfolio spans retail and corporate banking across two main categories: core Islamic banking products (accounts, financing, transfers, cards, and Sukuk) and digital banking services (mobile app, POS terminals, electronic services). The bank offers six distinct Islamic financing structures — Murabaha, Musharaka, Mudarabah, Ijara, Salam, and Istisna — plus specialized retail financing for vehicles, gold collateral, housing, and SME lending. Its digital banking layer includes a mobile application, merchant POS services, and electronic banking access. Cross-cutting governance functions (Sharia compliance, risk management, internal audit, AML) underpin all offerings. The bank also participates in strategic initiatives including green finance, financial inclusion outreach, and SME support programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Islamic Current Account (الحساب الجاري)
• Savings Account (حساب الإدخار / Iktina)
• Murabaha Financing (التمويل بالمرابحة)
• Musharaka Financing (المشاركة)
• Mudarabah Financing (المضاربة)
• Ijara Financing (الإجارة)
• Salam Financing (السَّلَم)
• Istisna Financing (الاستصناع)
• Car Financing (تمويل شراء سيارة)
• Gold Collateral Financing (تمويل بضمان المشغلات الذهبية)
• Housing Finance (تمويل سكني)
• SME Financing – Central Bank Initiative (تمويل لدعم المشاريع المتوسطة والصغيرة)
• Prepaid Card (بطاقة الدفع المسبق)
• Credit Card (البطاقة المصرفية)
• Domestic and International Transfers (حوالات داخلية وخارجية)
• Investment Deposits (ودائع استثمارية)
• Sukuk (الصكوك)
• Wage Transfer / Payroll Services (توصيل الرواتب)
• Corporate Banking Services (الخدمات المصرفية للشركات)
• Mobile Banking Application (تطبيق المصرف)
• Point of Sale (POS) Services (جهاز نقاط البيع)
• Green Finance Products (التمويل الأخضر)

Quantifiable outcome

• Capital increased to 300 billion Iraqi dinars following General Assembly approval, supporting expansion and financial capacity.
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core and flagship.

• Iraqi Company for Guarantees (شركة الكفالات)coreStrategic or Co-development Partner · 8 October 2025Mashreq al-Arabi Bank signed a cooperation agreement with the Iraqi Company for Guarantees as part of the ILO/KfW SME Guarantee Fund to enable small and medium enterprise financing in Iraq. The fund aims to enhance access to credit for SMEs by providing guaranteed financing in cooperation with participating Iraqi banks.
• International Labour Organization (ILO)flagshipStrategic or Co-development Partner · 8 October 2025The bank participated in the signing ceremony for the SME Guarantee Fund launched by the ILO with support from KfW German Development Bank. The project aims to enhance SME financing and expand employment opportunities for youth and women in Iraq. The bank signed its cooperation agreement through the Iraqi Guarantee Company.
• Wa Aana Electronic Payment Culture Organization (منظمة وعنا لثقافة الدفع الإلكتروني)coreStrategic or Co-development Partner · 7 October 2025The bank participated with Wa Aana Organization in the Al-Samawal campaign coordinated with the Central Bank of Iraq, aimed at activating POS terminals and expanding electronic payment adoption across various sectors in Iraq. The bank provides POS terminals and electronic payment infrastructure as part of this financial inclusion initiative.
• International Labour Organization (ILO) and Italian Agency for Development Cooperation (AICS)flagshipStrategic or Co-development Partner · 26 September 2025The bank participated in the Green Finance Workshop in Iraq organized by ILO in cooperation with the Central Bank of Iraq, AICS, and the ITCILO (International Training Centre of the ILO). The workshop aimed to enable banks to develop green financial products for sustainable projects, creating decent employment opportunities and protecting the environment.
• Central Bank of Iraq (البنك المركزي العراقي)coreStrategic or Co-development PartnerThe bank operates under the regulation and supervision of the Central Bank of Iraq and actively participates in CBI-led initiatives including financial inclusion weeks, SME financing programs, electronic payment expansion, and anti-money laundering compliance frameworks.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Iraq Islamic Bank: One of Iraq's largest and oldest Islamic banks, headquartered in Baghdad. Directly competes with Mashreq al-Arabi across retail, corporate, and SME Islamic financing products in the same Iraqi market.
• Ashur International Bank for Investment: Iraqi Islamic bank offering Murabaha, Musharaka, Ijara and other Sharia-compliant products to retail and corporate clients. Comparable in scale and target segments to Mashreq al-Arabi within Iraq.
• Bank of Baghdad: Iraqi private bank headquartered in Baghdad offering retail, corporate, and Islamic banking windows. Competes with Mashreq al-Arabi for the same Baghdad-based retail and SME customers.
• National Bank of Iraq: Major Iraqi commercial bank providing retail, corporate, and trade finance services across Iraq. Competes with Mashreq al-Arabi for corporate deposits, financing, and government-related banking business.

Broad incumbents

• Qatar Islamic Bank: Qatar's largest Islamic bank offering full retail, corporate, and investment banking under Sharia principles. Comparable product architecture to Mashreq al-Arabi across Murabaha, Ijara, and Sukuk.
• Kuwait Finance House: One of the world's largest Islamic banks by assets, headquartered in Kuwait. Offers the full Murabaha/Ijara/Mudaraba product set and serves as a benchmark Islamic-banking operator in the wider MENA region.
• Al Rajhi Bank: Largest Islamic bank globally by assets, headquartered in Saudi Arabia. Comparable in offering a full retail and corporate Sharia-compliant product suite, though operating at vastly greater scale across the GCC.
• Dubai Islamic Bank: UAE's first Islamic bank and a major regional player, offering retail, corporate, SME, and Sukuk products. Comparable Islamic banking franchise to Mashreq al-Arabi at much larger regional scale.

Regional players

• Boubyan Bank: Kuwaiti Islamic bank focused on digital-first retail and SME Sharia-compliant banking. Comparable Islamic product set and digital-banking emphasis to Mashreq al-Arabi, though operating primarily in Kuwait.
• Gulf Bank (Kuwait): Major Kuwaiti commercial bank with an Islamic banking window (Gulf Bank Islami) offering Sharia-compliant products across the GCC. Comparable Islamic product suite to Mashreq al-Arabi but operating in a different geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@ambbank6370
• Facebookfacebook.com/ALMASHREQALARABIISLAMICBANK
• LinkedInlinkedin.com/company/arabic-mashreq-bank
• Instagraminstagram.com/almashreq_bank/?hl=ar

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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 Mashreq al-Arabi Bank