International Development Bank (IDB)
This page sets out what the record shows about International Development Bank (IDB). 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 التنمية الدولي للاستثمار والتمويل
Name, licence and status
- Name in English
- International Development Bank (IDB)
- Name in Arabic
- مصرف التنمية الدولي للاستثمار والتمويل
- Type
- Private commercial bank
- Iraq Stock Exchange ticker
- BIDB
- Established
- 11 January 2011
- Licence
- No. 1816/3/9 of 7 April 2011
- Regulatory measures
- Restricted from dollar dealing by the Central Bank (reported, September 2025); named in July 2026 among banks allowed back into non-dollar business (reported)
- Website
- www.idbiraq.com
- Securities Commission page
- Iraq Securities Commissionisc.gov.iq
Ownership
The Iraq Securities Commission page names one significant individual holder: زياد خلف عبد الكريم with 33%. The page was read on 25 September 2026.
Owners and managers
| Name | Role | Share | As of | Legal status | Source |
|---|---|---|---|---|---|
Chairman Shareholder | 33% | Not stated | Not charged as of the date of writing | The Arab WeeklyIraq Stock ExchangeIraq Securities CommissionCentral Bank of Iraq[1][2] |
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 | $2m | $0 | $2m | 0.7% | Not stated | $35,000 |
| 2013 | $2.5bn | $191.2m | $2.3bn | 5.3% | $796.5m | $102.5m |
| 2014 | $2.1bn | $1bn | $1.1bn | 6.1% | $275.5m | $41.6m |
| 2015 | $1.6bn | $609.4m | $1bn | 5.1% | $37.5m | $75.7m |
| 2016 | $886.5m | $198m | $688.5m | 3.4% | Not stated | $61.4m |
| 2017 | $637.5m | $226.1m | $411.4m | 3.2% | Not stated | $25.5m |
| 2018 | $2.5m | $270,000 | $2.3m | 1.6% | Not stated | $80,443 |
| 2019 | $149m | $1.6m | $147.4m | 1.3% | Not stated | $719,711 |
| 2020 | $5.9m | $0 | $5.9m | 3.3% | Not stated | $191,870 |
| Total | $8bn | $2.2bn | $5.7bn | $1.1bn | $307.6m |
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 261 occasions on which the committee refused all or part of a request by this bank. On those occasions the bank asked for $4 billion, and $1.1 billion of it was refused.
The largest refusals
| Date | Asked for | Refused | The reason, as the committee wrote it | Category |
|---|---|---|---|---|
| 8 June 2013 | $30.6m | $30.6m | لعدم كفاية رصيد المصرف | Funds did not cover the request; Missing or defective documents |
| 4 February 2014 | $29.5m | $29.5m | Not stated | Not stated or unreadable |
| 2 February 2014 | $21.6m | $21.6m | الاغراض تدليقية | Held for audit |
| 6 June 2013 | $24m | $20m | لعدم كفاية رصيد المصرف لعدم كفاية رصيد المصرف | Funds did not cover the request; Missing or defective documents |
| 17 May 2014 | $19.4m | $19.4m | النقد والحوالة استبعاد لاختلاف اسم لامذكرة الصيرفة المرقمة 19,392,000 المدير المفو إ1985 في 2014/5/17 | Name or data do not match; Penalty on, or suspension of, the bank |
| 16 September 2013 | $19m | $19m | لعدم وجود توقيع المدير المفوض على استمارة الشراء وقد ابلغ المصرف وتفهم السبب | Missing or defective documents |
| 24 September 2013 | $29.6m | $18m | 1. تكرار الاسماء في كشوفات الزبائن المقدمة للنقد 2. تسلسل 1و3و4و6و8و9و10و11 لاغراض تدقيقية (punctuation adjusted) | Same customer or name repeated; Held for audit |
| 20 June 2013 | $17.7m | $17.7m | حسب طلب المصرف | At the bank's request |
| 24 June 2013 | $16.8m | $16.8m | لعدم كفاية رصيد المصرف | Funds did not cover the request; Missing or defective documents |
| 21 July 2013 | $15.5m | $15.5m | حسب طلب المصرف ذو الكتاب 350 في 21/7/2013 | Penalty on, or suspension of, the bank; At the bank's request |
| 29 June 2013 | $15.2m | $15.2m | حسب طلب المصرف | At the bank's request |
| date unreadable | $14.5m | $14.5m | البنه كفاية رصيد المصرف لتغطية طلب | Other |
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
- 8 September 2025 (date of the report; the date of the restriction has not been made public)Central Bank of Iraq (as stated by the Kurdistan Regional Government's Ministry of Finance)Restriction on dollar transactions
Against: International Development Bank
The Kurdistan Regional Government's Ministry of Finance removed the International Development Bank from the MyAccount salary programme "following restrictions imposed by the Central Bank of Iraq (CBI) on US dollar transactions". The Arab Weekly (anonymous source): the International Development Bank "is restricted by the federal, but the Central Bank didn’t name it on its website."
Current position: Named July 2026 (anonymous Central Bank source) among seven banks cleared to return to non-dollar correspondent channels
Original - 18 July 2026Central Bank of Iraq / US Treasury (understanding)Partial return: restricted banks allowed back into correspondent banking in currencies other than the dollar
Against: Seven restricted banks (named by an anonymous Central Bank source): Al-Janoob Islamic; International Development Bank; Mosul Bank; Al-Mashreq Al-Arabi Islamic; Investment Bank of Iraq; Kurdistan International (Islamic) Bank; Al-Arabiya Islamic
The Central Bank's statement confirms the understanding but does not name banks; names come from Asharq Bloomberg's anonymous Central Bank source. Access to dollars not yet restored as of the statement.
Current position: Pending eligibility for dollars
Original
Sources
- The Arab Weekly16 October 2025Tier DWashington sanctions expose Iraq’s shadow economy (opinion/analysis)
OriginalArchived copy“International Development Bank is restricted by the federal, but the Central Bank didn’t name it on its website.” ... According to an Iraqi security source, the Central Bank has been pressuring IDB chairman Ziad Khalaf Abed Kareem to relinquish his majority stake in the bank. ... the Iraqi Islamic Bank for Investment… Read the rest
and Development, owned on paper by Ahmad Walid Ahmad, better known as “Ahmad Abu al-Fawz” ... The Union Bank of Iraq, chaired by Ali Muften ...(punctuation adjusted) - 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