Economy Bank for Investment & Finance
This page sets out what the record shows about Economy Bank for Investment & Finance. 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 الاقتصاد للاستثمار والتمويل
Name, licence and status
- Name in English
- Economy Bank for Investment & Finance
- Name in Arabic
- مصرف الاقتصاد للاستثمار والتمويل
- Type
- Private commercial bank
- Iraq Stock Exchange ticker
- BEFI
- Established
- 22 March 1999
- Licence
- No. 612/3/9 of 10 December 1999
- Regulatory measures
- No sanction, ban or fine recorded as of the date of writing
- Website
- www.ebi-iq.com
- 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 |
|---|---|---|---|---|---|
Chairman | Not stated | Not stated | Not charged as of the date of writing | Iraq Stock ExchangeIraq Securities CommissionCentral Bank of Iraq[1][2] | |
Samah Rasheed Saleh سامح رشيد صالح | Vice-chairman | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
مرتضي خالد حسن | Vice-chairman | Not stated | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
Raad Qasim Jabr رعد قاسم جبر | Managing director | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
مازن كامل الياس | Managing director | Not stated | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
Murtadha Khalid Jabr مرتضى خالد جبر | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Khaled Khalil Ibrahim خالد خليل ابراهيم | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Abbas Jawad Kazem عباس جواد كاظم | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Basma Khazal Hassan باسمة خزعل حسن | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Fadi Kareem Ghazi فادي كريم غازي | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Uday Mohammed Tala'a عدي محمد طلاع | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
سندس عباس كاظم جودي الخلفة | Shareholder | 8.61% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
غفران سعدي وهيب صيهود | Shareholder | 8.5692% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
حسين سعدي وهيب صيهود | Shareholder | 8.276% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
سعدي وهيب صيهود صيهود | Shareholder | 8.276% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
علي سعدي وهيب صيهود | Shareholder | 8.276% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
نور محمد صالح شناوة المساعد | Shareholder | 8.276% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
يوسف سعدي وهيب صيهود | Shareholder | 8.276% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
حسام عبيد علي | Shareholder | 6.794% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
مهند حسام | Shareholder | 6.79% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
سعدون وهيب صيهود صيهود | Shareholder | 6.774% | 16 June 2025 | 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 |
|---|---|---|---|---|---|---|
| 2012 | $3m | $0 | $3m | 1.1% | Not stated | $52,500 |
| 2013 | $1.4bn | $180.8m | $1.2bn | 3.0% | $779.1m | $59.7m |
| 2014 | $439.8m | $345.5m | $94.3m | 1.3% | $121.5m | $6.7m |
| 2015 | $422m | $422m | $0 | 1.3% | $14.3m | $24.4m |
| 2016 | $250.2m | $244.9m | $5.2m | 0.9% | Not stated | $18.6m |
| 2017 | $345.7m | $269.7m | $76m | 1.7% | Not stated | $14.2m |
| 2018 | $1m | $0 | $1m | 0.6% | Not stated | $31,733 |
| 2019 | $960,000 | $960,000 | $0 | 0.0% | Not stated | $5,023 |
| 2020 | $5m | $0 | $5m | 2.8% | Not stated | $163,935 |
| Total | $2.8bn | $1.5bn | $1.4bn | $914.9m | $123.9m |
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 214 occasions on which the committee refused all or part of a request by this bank. On those occasions the bank asked for $1.9 billion, and $917.7 million of it was refused.
The largest refusals
| Date | Asked for | Refused | The reason, as read from the scanned minutes | Category |
|---|---|---|---|---|
| 22 October 2013 | $16.6m | $16.6m | عدم زيادة رأس المال حسب مذكرة المديرية العامة لمراقبة الصيرفة والانتمان المرقما | Bank capital requirement; Penalty on, or suspension of, the bank |
| 23 October 2013 | $15.2m | $15.2m | 3333/3/9 فى 2013/10/22 | Other |
| 8 October 2013 | $19.3m | $14.8m | تبعد من النقد لتكرار الاسماء ضمن قوائم المصرف نفسه برمع استبعد من النقد لتكرار الاسماء ومع شركاته ومع مصارف اخرى ,!الرشيد وايلاف والاقتصاد) | Same customer or name repeated |
| date unreadable | $19.1m | $14.6m | الخل مم وافلي مر قي اإستكال فذى صفك المتيرية الثغنة لتزافاية فلضموفة تحن الوعم أمارك ف شذر فات الشاهمة لمصرل الزديد رمع مصرف الوقنصة | Other |
| 5 October 2013 | $18.2m | $14.2m | تقديم المعاملة في يوم الخميس 2013/10/3 والمفروض تقدم قبل اسبوع | Other |
| 18 June 2013 | $14m | $14m | أ1. عدم كفاية رصيد المصرف 2. لعدم وجود ختم المسؤولين على قوانم (punctuation adjusted) | Funds did not cover the request; Missing or defective documents |
| 20 October 2013 | $13.3m | $13.3m | بناء على مذكرة المديرية العامة للحسابات المرقمة حس/2875/3/11 في | Penalty on, or suspension of, the bank |
| 26 October 2013 | $21.8m | $13.2m | ستبعد من النقد لتكرار الاسماء مع قوانم مصرف التنمية ومصرف الموصل / فرع بغداد ومع مصرف بغداد تبعدت الحوالة المقدمة يوم السبت 2013/10/26 واستبعدت التسلسلات 1و2و3و | Same customer or name repeated |
| 20 June 2013 | $13m | $13m | لعدم كفاية رصيد المصرف | Funds did not cover the request; Missing or defective documents |
| 15 September 2013 | $12.9m | $12.9m | لعدم توقيع المدير المفوض على استمارة الشراء وتم ابلاغ المصارف كافة بضرورة ذلك مسبقأ | Missing or defective documents |
| 23 September 2013 | $12.9m | $12.9m | عدم توقيع المدير المفوض لكشف الحوالات الصادرة رغم تبليغ المصرف بضرورة ذلك | Other |
| 3 October 2013 | $12.9m | $12.9m | Not stated | Not stated or unreadable |
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.
Enforcement actions
No enforcement action against this bank is recorded here.
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