Babylon Bank
This page sets out what the record shows about Babylon Bank. It names the owners and managers, gives the dollars the bank bought from the Central Bank in the years whose records survive, lists the requests that the Central Bank refused and describes the action that regulators took against the bank.
مصرف بابل
Name, licence and status
- Name in English
- Babylon Bank
- Name in Arabic
- مصرف بابل
- Type
- Private commercial bank
- Iraq Stock Exchange ticker
- BBAY
- Established
- 6 April 1999
- Licence
- No. ص/أ/9/3/461 of 8 June 1999
- Regulatory measures
- Barred from dollar dealing by the Central Bank (December 2020); in liquidation (Central Bank list)
- Website
- www.bbk.iq
- Securities Commission page
- Iraq Securities Commissionisc.gov.iq
Ownership
The Iraq Securities Commission page names no shareholder with about 10 per cent or more. The shareholder tables of the annual reports are not yet in the record.
Owners and managers
| Name | Role | Share | As of | Legal status | Source |
|---|---|---|---|---|---|
شركة الباتك للتامين واعادة التامين(company) | Chairman | Not stated | Not stated | Not charged as of the date of writing | Iraq Stock ExchangeIraq Securities CommissionCentral Bank of Iraq[1][2] |
جواد صالح حسن | Chairman | Not stated | 23 September 2024 | Not charged as of the date of writing | mubasher.info |
علياء حسين عبد مهدي | Managing director | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Managing director | Not stated | 30 September 2026 | Not charged as of the date of writing | cbi.iq | |
اماليد قاسم علي حسين | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
مالك محمد ماجد | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
علي ماجد محمد | Shareholder | 8.3719% | 23 September 2024 | Not charged as of the date of writing | mubasher.info |
مالك محمد ماجد | Shareholder | 6.2939% | 23 September 2024 | Not charged as of the date of writing | mubasher.info |
Dollars bought from the Central Bank
Dollars bought from the Central Bank, by year
In billions of dollars. Verified rows of the Central Bank's daily records.
| Year | Dollars bought | Cash | Transfers abroad | Share of the year's named sales | Refused | Value of the price gap |
|---|---|---|---|---|---|---|
| 2013 | $1.3bn | $68m | $1.2bn | 2.7% | $393m | $61.9m |
| 2014 | $39.4m | $5m | $34.4m | 0.1% | $11.3m | $900,616 |
| 2015 | $306.2m | $150,000 | $306.1m | 0.9% | $0 | $9.3m |
| 2016 | $801.3m | $4m | $797.3m | 3.0% | Not stated | $55.9m |
| 2017 | $499.5m | $0 | $499.5m | 2.5% | Not stated | $23.8m |
| 2018 | $4m | $0 | $4m | 2.5% | Not stated | $126,932 |
| Total | $2.9bn | $77.2m | $2.8bn | $404.3m | $151.9m |
Share of the year's named sales: the bank's part of all the dollars that the surviving records attribute to a named bank in that year.
Refused: the requests that the Central Bank's committee turned down. Its minutes survive only from January 2013 to February 2015. An empty cell means that no minutes survive for that year. The yearly figures come from the yearly ledger. The figure at the top of the page comes from the committee's minutes. The two can differ.
What the Central Bank refused
From January 2013 to February 2015 the Central Bank's committee recorded, day by day, which requests for dollars it turned down and why. Its minutes record 64 occasions on which the committee refused all or part of a request by this bank. On those occasions the bank asked for $634 million, and $404.3 million of it was refused.
The largest refusals
| Date | Asked for | Refused | The reason, as the committee wrote it | Category |
|---|---|---|---|---|
| 8 June 2013 | $16.6m | $16.6m | لعدم كفاية رصيد المصرف | Funds did not cover the request; Missing or defective documents |
| 13 January 2013 | $13m | $13m | كون الاقرار يحمل تاريخ قديم | Other |
| 7 February 2013 | $13m | $13m | عدم وجود توقيع المخول الثاني على الطلب | Missing or defective documents |
| 11 December 2013 | $12.8m | $12.8m | هرطنب المصرف باتيه تترا2796 :4 فى 2013/12/10 سلونه تى | Other |
| 12 December 2013 | $12.5m | $12.5m | Not stated | Not stated or unreadable |
| 28 July 2013 | $11.5m | $11.5m | حسب طلب المصرف ذو الكتاب 1/1656 في 25/7/2013 | Penalty on, or suspension of, the bank; At the bank's request |
| date unreadable | $11.2m | $11.2m | حسب طلب المصرف ذو الكتاب 1700 في 31/7/2013 | Penalty on, or suspension of, the bank; At the bank's request |
| 2 July 2013 | $11.1m | $11.1m | لعدم كفاية رصيد المصرف | Funds did not cover the request; Missing or defective documents |
| date unreadable | $22.5m | $11.1m | لاستخدام جميع الفواتير بتاريخ 8/7/2013 | Other |
| 7 July 2013 | $11.1m | $11.1m | لعدم مطابقة تاريخ الاستمارة مع تاريخ كتاب الشراء والاقرار والتعهد | Missing or defective documents; Penalty on, or suspension of, the bank |
| 2 June 2013 | $10.8m | $10.8m | لعدم كفاية رصيد المصرف | Funds did not cover the request; Missing or defective documents |
| 9 June 2013 | $10.6m | $10.6m | لعدم كفاية رصيد المصرف | Funds did not cover the request; Missing or defective documents |
Each reason is quoted in Arabic, in the committee's words. Where a reason is marked “punctuation adjusted”, only its punctuation was changed. The category is ours.
Enforcement actions
- 24 December 2020Central Bank of IraqBarred from the currency window and from dealing in dollars
Against: Babylon Bank
The Central Bank's list gives the effective date as 24 December 2020.
Current position: Listed as of 4 February 2024
Original
Sources
- Iraq Stock ExchangeAccessed 25 September 2026Tier BISX company profiles (companyprofile.html) for 49 listed banks: establishing date, listing date, capital, managing director
e.g. BHAM مصرف حمورابي: تاريخ التأسيس 26/08/2020؛ تاريخ الإدراج 04/08/2024 | BTRI مصرف عبر العراق للاستثمار: تاريخ التأسيس 21/05/2006 | BLAD مصرف العطاء الاسلامي: تاريخ التأسيس 06/07/2006 | BBAY مصرف بابل: المدير المفوض احمد عباس احمد / الوصي
- Iraq Securities CommissionAccessed 25 September 2026 (the page does not show the dates of disclosure)Tier BIraq Securities Commission (هيأة الأوراق المالية) listed-company pages: 'النسب المؤثرة' (significant shareholdings) and 'أعضاء مجلس الإدارة' (board) for banks
مصرف الاتحاد العراقي ... النسب المؤثرة: 1 عقيل مفتن خفيف البيضاني 13% ... 3 محمد مفتن خفيف البيضاني 13% | أعضاء مجلس الإدارة: عبد الكريم ابراهيم علي رئيس مجلس الادارة ...
Translation: Union Bank of Iraq ... Significant holdings: Aqeel Meften Khafeef al-Baidhani 13%; Mohammed Meften Khafeef al-Baidhani 13% | Board: Abdul Kareem Ibrahim Ali, chairman ...
- Central Bank of IraqAccessed 25 September 2026Tier Bالمصارف الاهلية المحلية (Private local banks: licence numbers/dates, managers, status marks)
الأقليم التجاري للاستثمار والتمويل ( اميرالد سابقا ) ... 408/3/9 2007/3/1 | الهدى ( ممنوع من التعامل بالدولار ) ... 136/3/9 2008/1/14 | مصرف بابل ( تصفية ) ( ممنوع من التعامل بالدولار ) ... المصفي، د.أحمد عباس أحمد | دار السلام للأستثمار ( حراسة قضائية ) | الشمال للتمويل والاستثمار ( وصاية ) | الطيف الإسلامي للإستثمار… Read the rest
والتمويل ( وصاية )( ممنوع من التعامل بالدولار ) | المال الإسلامي للإستثمار ( ممنوع من التعامل بالدولار ) ... 845/3/9 في 2018/12/9(punctuation adjusted)Translation: Region Trade Bank for Investment & Finance (formerly Emerald) ... licence 408/3/9 of 1 Mar 2007 | Al-Huda (barred from USD dealing) ... licence 136/3/9 of 14 Jan 2008 | Babylon Bank (liquidation) (barred from USD) ... liquidator Dr Ahmed Abbas Ahmed | Dar Es Salaam (judicial receivership) | North Bank (guardianship) | Al-Taif Islamic (guardianship)(barred from USD) | Al-Mal Islamic (barred from USD) ... licence 845/3/9 of 9 Dec 2018
Original - Central Bank of Iraq23 October 2025Tier Aالنشرة الإحصائية السنوية / Annual Statistical Bulletin (2024 data; PDF created 23 Oct 2025), banks' establishment year, total assets, paid-up capital (pages 116 to 117) and ISX listing table (p.113)
Region Trade Bank for Investment 2007 1,051,981 300,000 مصرف الاقليم التجاري( اميرالد) | AL-Huda Bank 2008 412,604 250,000 | Erbil Bank 2010 | International Development Bank 2011 | Hammurabi Commercial Bank 2020 | Ur Islamic Bank 2018 334,815 250,000
Original