Business Banking Services

Comprehensive banking solutions for companies and institutions in accordance with Islamic Sharia principles

الشركات والمؤسسات
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⭐ Your Trusted Banking Partner

Our Business Banking Services

We offer a comprehensive range of banking services specifically designed to meet the needs of companies and institutions

Types of Business Accounts

We provide our corporate clients in all sectors with innovative financial solutions under Islamic banking systems that comply with Sharia law.

  • Corporate and institutional accounts
  • Iraqi company accounts
  • Foreign company accounts
  • Corporate and project financing
  • Treasury services for companies

Trade Finance

Diverse financing services including trade financing, project financing, and production lines in accordance with Islamic Sharia principles.

  • Domestic and international trade financing
  • Project financing
  • Production line financing
  • Capital market products
  • Investment banking services

Guarantee Letters

We provide guarantee letter services in domestic and international trade to protect companies against contract non-performance or to ensure the other party's ability to fulfill their financial obligations.

  • Initial guarantee letter (tender)
  • Final guarantee letter (performance)
  • Advance payment guarantee
  • Protection against contract non-performance
  • Guarantee of financial obligation fulfillment

Documentary Credits

Services in developing domestic and international trade by providing flexible and suitable payment solutions to reduce trade risks.

  • Sight documentary credit
  • Term documentary credit
  • Documentary credit with advance payment
  • Revolving documentary credit
  • Standby credit

Project Finance

We provide specialized financing solutions for projects of all sizes in accordance with Islamic Sharia principles, contributing to supporting economic growth and developing various sectors.

  • Large project financing
  • Medium and small project financing
  • Production line financing
  • Financial instruments and construction contract financing

Electronic Services

We provide advanced electronic banking solutions that enable companies to manage their accounts and transactions efficiently and securely, saving time and effort while increasing the efficiency of business operations.

  • Online banking services
  • Electronic transfers
  • Online account management
  • Real-time account statements
  • Automated payment systems

Foreign Transfer Services

We provide foreign transfer services through advanced electronic platforms, enabling our corporate and business clients to conduct fast and secure transfers in various foreign currencies.

  • UAE Dirham transfers
  • Jordanian Dinar transfers
  • Indian Rupee transfers
  • Chinese Yuan transfers
  • Euro transfers to Europe
  • Euro transfers to Turkey
  • Saudi Riyal transfers to Saudi Arabia
Call us at 6566
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Required Documents for Opening Business Accounts

Your comprehensive guide to requirements and documents needed for business banking accounts

13 Company Types
100+ Detailed Requirements
3 Languages Available

Commercial Companies

  • Company establishment certificate *
  • Meeting minutes or founding resolution showing authorized director's powers *
  • Company establishment statement *
  • Letter of completion of procedures for changing, deleting activities, or increasing capital if any *
  • Final accounts for the last three years *
  • Authorized director and shareholders' documents (unified ID, residence card, passport) *
  • Company documents translated to English (in case of any foreign operations)
  • Undertakings (account opening request, adoption of company name in English if no translated documents exist, no dealings with prohibited countries)
  • Chamber of Commerce ID, Tax ID, Import ID
  • Location endorsement letter for address change within same province or completion procedures for inter-province changes *
  • Company documents must be recently certified not exceeding one year *

Contracting Companies

  • Company establishment certificate *
  • Meeting minutes or founding resolution showing authorized director's powers *
  • Company establishment statement *
  • Letter of completion of procedures for changing, deleting activities, or increasing capital if any *
  • Final accounts for the last three years *
  • Authorized director and shareholders' documents (unified ID, residence card, passport) *
  • Company documents translated to English (in case of any foreign operations)
  • Undertakings (account opening request, adoption of company name in English if no translated documents exist, no dealings with prohibited countries)
  • Chamber of Commerce ID, Tax ID, Import ID if needed for import operations, Contractors Union ID
  • Location endorsement letter for address change within same province or completion procedures for inter-province changes *
  • Copy of completed or ongoing contracts if any
  • Company documents must be recently certified not exceeding one year *

Scientific Offices

  • Scientific office opening license issued by Ministry of Health - Pharmacists Syndicate *
  • Endorsement of scientific office opening license from Ministry of Health - Pharmacists Syndicate *
  • Internal regulations showing office owner's powers *
  • Final accounts for the last three years *
  • Pharmacists Syndicate ID for franchise owner
  • Tax ID or no-objection letter
  • Office documents translated to English (in case of any foreign operations)
  • Office owner's documents (unified ID, residence card, passport) *
  • Undertakings (account opening request, adoption of office name in English if no translated documents exist, no dealings with prohibited countries)

Regional Companies

  • Company establishment certificate *
  • Minutes or founding resolution *
  • Establishment statement *
  • Letter of endorsement of company preliminaries registered with Baghdad companies *
  • Authorized director and shareholders' documents (unified ID, residence card, passport) *
  • Company-specific IDs (Tax ID, Chamber of Commerce ID, Import ID)
  • Undertakings (account opening request, adoption of company name in English if no translated company documents exist, no dealings with prohibited countries)
  • Final accounts for the last three years *
  • Company documents translated to English (in case of any foreign operations)

Factories and Plants

  • Approval for industrial project establishment license *
  • Industrial project completion license *
  • Final accounts for the last three years *
  • Tax ID
  • Investor ID (from General Directorate of Industrial Development)
  • Internal regulations showing authorized director's powers *
  • Factory owner's documents (unified ID, residence card, passport) *
  • Factory documents translated to English (in case of any foreign operations)
  • Undertakings (account opening request, adoption of factory name in English, no dealings with prohibited countries)

Foreign Companies

  • Parent company registration documents *
  • Parent company final accounts for the last three years *
  • Parent company shareholders' documents *
  • Branch registration license in Iraq *
  • Minutes of appointing Iraq branch manager showing his powers *
  • Authorized director's documents (unified ID, passport, residence card) *
  • Company location endorsement *
  • Tax ID
  • Final accounts for the last three years for Iraq branch *
  • Undertakings (account opening request, adoption of company name in English if no translated company documents exist, no dealings with prohibited countries)
  • Company documents translated to English (in case of any foreign operations)

Civil Society Organizations

  • Organization registration approval from Council of Ministers Presidency *
  • Internal regulations showing organization head's powers *
  • Members and organization head documents (residence card, unified ID, passport) *
  • Final accounts for the last three years *
  • Undertakings (account opening request, adoption of organization name in English, no dealings with prohibited countries)

Universities

  • Higher Education Ministry approval for university establishment *
  • Internal regulations showing university president identity and powers *
  • Final accounts for the last three years *
  • University president and shareholder members' documents (unified ID, residence card, passport) *
  • Undertakings (account opening request, adoption of university name in English, no dealings with prohibited countries)

Hospitals

  • Company establishment certificate *
  • Meeting minutes or founding resolution showing authorized director's powers *
  • Company establishment statement *
  • Letter of completion of procedures for changing, deleting activities, or increasing capital if any *
  • Final accounts for the last three years *
  • Authorized director and shareholders' documents (unified ID, residence card, passport) *
  • Company documents translated to English (in case of any foreign operations)
  • Undertakings (account opening request, adoption of company name in English if no translated documents exist, no dealings with prohibited countries)
  • Chamber of Commerce ID, Tax ID, Import ID
  • Location endorsement letter for address change within same province or completion procedures for inter-province changes *
  • Company documents must be recently certified not exceeding one year *
  • Doctors Syndicate ID

Companies Under Establishment

  • Trade name reservation letter *
  • Company owner's documents (unified ID, residence card, passport) *

Individual Project Companies

  • Individual project company establishment certificate *
  • Establishment decision showing company owner's powers
  • Establishment statement *
  • Final accounts for the last three years *
  • Company owner's documents (unified ID, residence card, passport) *
  • IDs (Tax ID, Trade ID, Import ID)
  • Company documents translated to English (in case of any foreign operations)
  • Undertakings (account opening request, adoption of company name in English, no dealings with prohibited countries)

Simple Companies

  • Simple company contract certified by notary *
  • Contract appendix certified by notary in case of capital increase *
  • Contract appendix deposit certified by companies registrar *
  • Final accounts for the last three years *
  • Company owner's documents (unified ID, residence card, passport) *
  • IDs (Tax ID, Trade ID, Import ID)
  • Company documents translated to English (in case of any foreign operations)
  • Undertakings (account opening request, adoption of organization name in English, no dealings with prohibited countries)

Gold Companies

  • Company establishment certificate *
  • Meeting minutes or founding resolution showing authorized director's powers *
  • Company establishment statement *
  • Letter of completion of procedures for changing, deleting activities, or increasing capital if any *
  • Final accounts for the last three years *
  • Authorized director and shareholders' documents (unified ID, residence card, passport) *
  • Company documents translated to English (in case of any foreign operations)
  • Undertakings (account opening request, adoption of company name in English if no translated documents exist, no dealings with prohibited countries)
  • Chamber of Commerce ID, Tax ID, Import ID
  • Location endorsement letter for address change within same province or completion procedures for inter-province changes *
  • Company documents must be recently certified not exceeding one year *
  • Ministry of Planning approval for company's gold hallmark *
  • Anti-money laundering and terrorism financing policy *
  • Name of person responsible for money laundering and terrorism financing *

Important Notes and Essential Information

Mandatory Documents

Required documents marked with (*) are mandatory and cannot be omitted

Required Certification

All documents must be certified and endorsed by relevant authorities and be recent

English Translation

English translation of documents required for any foreign operations

Need Help?

Our customer service team is ready to assist you

Call us: 6566

Types of Business Accounts

Service Overview:

The Iraqi Islamic Bank for Investment and Development plans to play an important role in the growth and recovery of the Iraqi economy. Therefore, we provide our corporate and institutional clients with diverse banking services including trade financing, project financing, and production line services.

Types of Accounts:

  • Corporate and institutional accounts
  • Iraqi company accounts
  • Foreign company accounts
  • Company employee accounts

Available Services:

  • Corporate financing
  • Investment banking services
  • Project financing
  • Trade and goods financing
  • Capital market products
  • Treasury services for companies
  • International banking services
  • Financial instruments, construction contracts, and production lines

Trade Finance

Service Overview:

We believe in understanding our client's business model to enhance our comprehensive product and service portfolio designed to meet the needs and complexities of the corporate finance sector.

Types of Financing:

  • Domestic and international trade financing
  • Industrial project financing
  • Production line financing
  • Capital market products
  • Investment banking services

Benefits:

  • Financial solutions compliant with Islamic Sharia
  • Services designed for a wide range of business segments
  • Leveraging our supporters' relationships and qualifications
  • Innovative solutions under Islamic banking systems

Guarantee Letters

Service Overview:

The Iraqi Islamic Bank for Investment and Development provides guarantee letter services in domestic and international trade to protect companies against contract non-performance or to ensure the other party's ability to fulfill their financial obligations.

Types of Guarantee Letters:

  • Initial guarantee letter (tender)
  • Final guarantee letter or advance payment (performance)

Benefits:

  • Protection against contract non-performance
  • Guarantee of the other party's ability to fulfill obligations
  • Coverage for domestic and international trade
  • Comprehensive financial protection for companies

Documentary Credits

Service Overview:

The Iraqi Islamic Bank for Investment and Development provides services in developing domestic and international trade by providing flexible and suitable payment solutions to reduce trade risks. Documentary credits are designed according to the needs of exporters (buyers), while ensuring that beneficiaries (suppliers) receive their payments.

Types of Documentary Credits:

  • Sight documentary credit
  • Term documentary credit
  • Documentary credit with advance payment
  • Revolving documentary credit
  • Standby credit

Benefits:

  • 24/7 availability
  • High security and multi-level verification
  • Easy accessibility from anywhere
  • Timely financial reports and detailed analysis

Project Finance

Service Overview:

We provide specialized financing solutions for projects of all sizes in accordance with Islamic Sharia principles, contributing to supporting economic growth and developing various sectors.

Types of Project Finance:

  • Large project financing
  • Medium and small project financing
  • Production line financing
  • Financial instruments and construction contract financing

Benefits:

  • Financing solutions compliant with Islamic Sharia
  • Support for projects in various sectors
  • Specialized financial advisory
  • Flexibility in financing terms

For More Details:

Please contact the nearest branch of Iraqi Islamic Bank or our customer service team for more information on project finance terms and conditions.

Electronic Services

Service Overview:

We provide advanced electronic banking solutions that enable companies to manage their accounts and transactions efficiently and securely, saving time and effort while increasing the efficiency of business operations.

Available Services:

  • Online banking services
  • Electronic transfers
  • Online account management
  • Real-time account statements
  • Automated payment systems

Benefits:

  • Available 24/7
  • High security and multi-level verification
  • Easy accessibility from anywhere
  • Timely financial reports and detailed analysis
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Contact Us

Al-Mansour - Baghdad - Iraq

14 Ramadan Street

+964 772 100 0122

+964 782 100 0122

Quick Phone: 6566

+964 1 542 4042

info@iraqiislamicb.iq

www.iraqiislamicb.iq

P.O. Box Code: 6003

Banking Awareness Department: 009647802800999

Bank SWIFT: IRIBIQBAXXXP

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