Commercial Bank Of Iraq (CBIQ) is one of the first private sector banks formed in Iraq. It was established in 1992 after local laws were amended to allow private banks to be established with a minimum capital of Iraqi Dinars one hundred and fifty million (150,000,000 IQD). Since its establishment, CBIQ has evolved to open a network of branches across Baghdad and neighboring districts. It was officially listed on the Iraq Stock Exchange in 2004.
- In 2005, CBIQ partnered with Ahli United Bank which, received for the second time the award of being the Best Bank in the Middle East in 2016 by the UK Banker Magazine. The first award was received in 2006. AUB has also twice received the Euromoney regional award as ‘Best Bank of the Middle East’ in 2007 and 2012
Today, CBIQ offers a selection of services for retail, remittance, financial and trade financing for local corporations and contracting companies. The bank is able to provide funding services for international corporations operating in Iraq.
A new branch opened at Basra Times Square Mall, Iraq’s biggest shopping mall in the city of Basra. The new branch offers various financial services for the visitors of the mall and the companies operating within it. Such services include depositing, withdrawal of cash, financing services for individuals and corporate bodies provided by a skilled workforce.