The Ledger

Commercial Bank of Iraq

This page sets out what the record shows about Commercial Bank of Iraq. 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.

المصرف التجاري العراقي

$1.7bn

bought from the Central Bank from 2012 to 2020, in the records that survive. This is a minimum.

Tier A

$577.6m

asked for but refused by the Central Bank's committee from January 2013 to February 2015

Tier A

$61.8m

the value of the gap between the official and the market price on the dollars it bought, which went to whoever received the dollars

Tier B

Name, licence and status

Name in English: Commercial Bank of Iraq
Name in Arabic: المصرف التجاري العراقي
Other names: Commercial Bank of Iraq (المصرف التجاري العراقي), now المصرف التجاري العراقي الاسلامي (CIBIQ)
Converted to Islamic banking. The date is not in the record.
Iraq Securities Commission Central Bank of Iraq
Type: Private commercial bank
Iraq Stock Exchange ticker: BCOI
Established: 11 February 1992
Licence: No. ت.ص/9/14314 of 12 July 1992
Regulatory measures: No sanction, ban or fine recorded as of the date of writing
Website: www.cibiq.com.iq
Securities Commission page: Iraq Securities Commissionisc.gov.iq

Ownership

Iraq Securities Commission: Kuwait Finance House 85% (bank now named المصرف التجاري العراقي الاسلامي).

Owners and managers

Being listed here records an ownership stake or a post at the bank. It is not an allegation. Next to each name is the exact legal status. Where the encyclopedia holds a record of the name, the status comes from that record. Otherwise it reads “Not charged as of the date of writing”.

Owners and managers
Name	Role	Share	As of	Legal status	Source
عبد الله يوسف احمد السيف	Chairman	Not stated	Not stated	Not charged as of the date of writing	Iraq Stock Exchange Iraq Securities CommissionCentral Bank of Iraq[1][2]
عبدالله يوسف احمد السيف	Chairman	Not stated	18 July 2026	Not charged as of the date of writing	cibiq.com.iq
محمد عاصم احمد عبد الخالق	Vice-chairman	Not stated	2025	Not charged as of the date of writing	cibiq.com.iq
بسام جودات ابو عودة جابر	Managing director	Not stated	10 September 2023	Not charged as of the date of writing	cibiq.com.iq
مها عبد الحميد محمد ابراهيم	Board member	Not stated	2022	Not charged as of the date of writing	cibiq.com.iq
محمد سالم راشد العربيد	Board member	Not stated	30 September 2026	Not charged as of the date of writing	cibiq.com.iq
نادر عبد النبي مرهون الساري	Board member	Not stated	30 September 2026	Not charged as of the date of writing	cibiq.com.iq
حامد عبدعلي عبدالكريم حسون العبدلي	Board member	Not stated	30 September 2026	Not charged as of the date of writing	cibiq.com.iq
لمياء براك عبدالحسين الطبطبائي	Board member	Not stated	30 September 2026	Not charged as of the date of writing	cibiq.com.iq
نسيمة السيد حيدر شبر محمد	Board member	Not stated	30 September 2026	Not charged as of the date of writing	cibiq.com.iq
بيت التمويل الكويتي ش.م	Shareholder	85%	Not stated	Not charged as of the date of writing	Iraq Stock Exchange Iraq Securities CommissionCentral Bank of Iraq[1][2]
البنك الاهلي المتحد ش.م.ب.م(company)	Shareholder	80.30%	28 September 2026	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 millions of dollars. Verified rows of the Central Bank's daily records.

Source: Central Bank of Iraq, daily records of the dollar sale, compiled from the verified rowsTier A

Dollars bought from the Central Bank
Year	Dollars bought	Cash	Transfers abroad	Share of the year's named sales	Refused	Value of the price gap
2013	$944.3m	$24m	$920.3m	2.0%	$257.5m	$40.4m
2014	$588.9m	$104.4m	$484.4m	1.7%	$319.5m	$13.9m
2015	$37.4m	$10.1m	$27.3m	0.1%	$570,000	$2.1m
2016	$33.6m	$6.8m	$26.8m	0.1%	Not stated	$2.4m
2017	$71.5m	$7.3m	$64.2m	0.4%	Not stated	$2.9m
2019	$1.3m	$1.3m	$0	0.0%	Not stated	$7,136
Total	$1.7bn	$154m	$1.5bn		$577.6m	$61.8m

Source: Central Bank of Iraq, daily records of the dollar sale, compiled from the verified rowsTier A

Source: the price gap is our calculation from the Central Bank's price and the market priceTier B

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 106 occasions on which the committee refused all or part of a request by this bank. On those occasions the bank asked for $968.4 million, and $577.6 million of it was refused.

The largest refusals

The largest refusals
Date	Asked for	Refused	The reason, as read from the scanned minutes	Category
14 January 2013	$16.9m	$16.9m	كون ختم كشف الحوالات مستنسخ	Other
30 November 2014	$16m	$16m	16,000,000 لاعراض تدقيقية .	Held for audit
18 May 2014	$14.7m	$14.7m	استبعاد المصرف لاختلاف اسم مخول وحدة غسن الامول وحسب مذكرة الصيرفة المرقمة 6924/3/9 في 2014/5/6	Name or data do not match; Penalty on, or suspension of, the bank
date unreadable	$16m	$14.5m	لغ !30.000) من الفرع الرئيس كرار اسماء ومن شركة الواتق لتكرا ,)س 14!لا غراض تتكيقية	Same customer or name repeated; Held for audit
28 December 2014	$16m	$14.5m	المبلغ !,!14500) لاغراض تدقيقية والمبلغ !,10) لتكرار ,2)اسم من الفرع الرئيسي	Same customer or name repeated; Held for audit
date unreadable	$13.3m	$13.3m	*دم تقديمه اشعار يغطي مبلغ طلب الشراء لهذا اليوم مخالف بذلك تعليمات 588 فى	Other
date unreadable	$12.5m	$12.5m	مدم وجود مراقب امنثال حاليا (والمرق 1173 في 2014/03/27	Other
19 July 2014	$12.2m	$12.2m	موجب مذكرة الصيرفة المرقما 9458/2/9 في 2014/6/18	Penalty on, or suspension of, the bank
25 February 2014	$12.1m	$12.1m	التزامه بايداع مبلغ الحوالة حسب تعلي المرقمة 19/3/9لمنة 4	Other
10 March 2014	$11.9m	$11.9m	مخالف لتعليمات 588 في 2014/02/06	Customer flagged under anti-money-laundering rules
date unreadable	$11.9m	$11.9m	يستبعد استادا الى قرار الصيرفة بمذكرتهم المرقمة 1173 في 2014/03/27	Other
18 June 2014	$11.2m	$11.2m	بموجب محضر اجتماع رقم ,(5) نسنة	Other

The reasons were read from scanned pages of the Central Bank's minutes, the reading may contain errors, and the scanned page is the authority. Each reason is given in Arabic. Where a reason is marked “punctuation adjusted”, only its punctuation was changed. The category is ours.

Source: Central Bank of Iraq, daily minutes of the committee that ran the dollar sale, from January 2013 to February 2015Tier A

All the refusals, day by day

Enforcement actions

No enforcement action against this bank is recorded here.

Sources

The documents behind this page, with the words quoted from each.

Iraq Stock ExchangeAccessed 25 September 2026Tier B
ISX 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 B
Iraq 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 B
المصارف 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 A
النشرة 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