Gulf Commercial Bank
This page sets out what the record shows about Gulf Commercial 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 الخليج التجاري
Name, licence and status
- Name in English
- Gulf Commercial Bank
- Name in Arabic
- مصرف الخليج التجاري
- Type
- Private commercial bank
- Iraq Stock Exchange ticker
- BGUC
- Established
- 20 October 1999
- Licence
- No. 115/3/9 of 7 February 2000
- Regulatory measures
- No sanction, ban or fine recorded as of the date of writing
- Website
- www.gcb.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 |
|---|---|---|---|---|---|
Chairman | Not stated | Not stated | Not charged as of the date of writing | Iraq Stock ExchangeIraq Securities CommissionCentral Bank of Iraq[1][2] | |
Mohammed Abdul Razzaq Al-Bayati محمد عبد الرزاق البياتي | Vice-chairman | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Adel Nouri Mohammed عادل نوري محمد | Managing director | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Mohammed Ahmed Sobhi محمد احمد صبحي | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Qusai Muhammad Yaseen قصي محمد ياسين | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Raghad Muaid Mohammed رغد مؤيد محمد | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Musa Hasan Shaheen موسى حسن شاهين | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Iman Adnan Mohammed ايمان عدنان محمد | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
شريف فارس سليم | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | gcb.iq |
شركة الرديم للتجارة العامة ويمثلها السيد / محمد جميل عبدالكريم(company) | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | gcb.iq |
شركة السيادة للخدمات الاعلامية المحدودة(company) | Shareholder | 9.50% | 30 June 2026 | Not charged as of the date of writing | gcb.iq |
اعالي الشرق للتقنيات المتجددة والتجارة | Shareholder | 9.50% | 30 June 2026 | Not charged as of the date of writing | gcb.iq |
شركة الوحدة للخدمات الاعلامية المحدودة(company) | Shareholder | 9.50% | 30 June 2026 | Not charged as of the date of writing | gcb.iq |
شركة بابل لخدمات الطائرات المحدودة(company) | Shareholder | 7.27% | 30 June 2026 | Not charged as of the date of writing | gcb.iq |
شركة اعالي الخليج للاستثمارات العقارية(company) | Shareholder | 7.13% | 30 June 2026 | Not charged as of the date of writing | gcb.iq |
شركة اسود الرافدين لازالة الالغام والمخلفات(company) | Shareholder | 5.32% | 30 June 2026 | Not charged as of the date of writing | gcb.iq |
سعد عاصم عبود الجنابي | Shareholder | 5.32% | 30 June 2026 | Not charged as of the date of writing | gcb.iq |
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 | $25m | $0 | $25m | 9.3% | Not stated | $437,500 |
| 2013 | $1.6bn | $149.3m | $1.5bn | 3.5% | $810.9m | $63.5m |
| 2014 | $2.3bn | $315.7m | $2bn | 6.6% | $221.8m | $49m |
| 2015 | $1.3bn | $50.4m | $1.2bn | 4.0% | $42.8m | $54m |
| 2016 | $1.1bn | $58.4m | $1bn | 4.1% | Not stated | $74.1m |
| 2017 | $557.1m | $41.7m | $515.4m | 2.8% | Not stated | $26.6m |
| 2018 | $5.7m | $0 | $5.7m | 3.6% | Not stated | $180,879 |
| 2019 | $792.2m | $1.4m | $790.8m | 7.0% | Not stated | $4.5m |
| 2020 | $6m | $0 | $6m | 3.3% | Not stated | $195,122 |
| Total | $7.7bn | $617m | $7.1bn | $1.1bn | $272.6m |
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 183 occasions on which the committee refused all or part of a request by this bank. On those occasions the bank asked for $2.9 billion, and $1.1 billion of it was refused.
The largest refusals
| Date | Asked for | Refused | The reason, as the committee wrote it | Category |
|---|---|---|---|---|
| 7 October 2013 | $21.8m | $17.8m | 1. استبعدت الحوالة لعدم تقديم معلومات السويفت 2. استبعد من النقد لتكرار اسماء ضمن قوائم المصرف نفسه وتكرار اسماء مع مصرف اشور (punctuation adjusted) | Same customer or name repeated; Missing or defective documents |
| 28 September 2013 | $21.8m | $17.8m | 1. تكرار اسماء مع مصارف اميرائد وقانمة فرع الاعظمية وتسلسل رقم (1) في قانمة فرع الكرادة استبعدت الحوالة لعدم توقيع المعاملة من قبل المدير المفوض (punctuation adjusted) | Same customer or name repeated; Missing or defective documents |
| 16 June 2014 | $33.9m | $17.7m | من الحوالتلكون الاشعار مودع قبل 6 ايا. | Other |
| 16 November 2013 | $25.2m | $17m | Not stated | Not stated or unreadable |
| 31 December 2014 | $16.3m | $16.3m | لاغراض تدقيقية | Held for audit |
| 10 November 2013 | $27.2m | $15.6m | 15,575,000 لصلسل 1 و3 و4 لاكراض تنقهية | Other |
| 30 October 2013 | $29.7m | $15.2m | متبعد تسلسل 1 لاختلاف اسم الزبون في الاجازة متبعد تسلسل 5و6 لاغراض تدقيقد | Import licence problem; Name or data do not match; Held for audit |
| 19 November 2013 | $23.4m | $14.8m | اتسلسل ف لاغر ت الالة لتحميل اسم الأبون يخط اليها | Other |
| 26 October 2013 | $18.6m | $14.6m | بناء على طلب المصرف بكتابهم المرقم ح.خ.دولي/1137 في 2013/10/21 | Penalty on, or suspension of, the bank; At the bank's request |
| date unreadable | $20.7m | $14.1m | Not stated | Not stated or unreadable |
| 1 April 2013 | $13.9m | $13.9m | لوجود عقوبة بمنعه من دخول المزاد لمدة شهر | Penalty on, or suspension of, the bank |
| 30 May 2013 | $13.8m | $13.6m | لاستخدام الفاتورة لأكثر من طلب تحويل تسلسل ,!5) | Duplicate or reused invoice |
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
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