North Bank for Finance & Investment
This page sets out what the record shows about North Bank for Finance & Investment. 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 الشمال للتمويل والاستثمار
Name, licence and status
- Name in English
- North Bank for Finance & Investment
- Name in Arabic
- مصرف الشمال للتمويل والاستثمار
- Type
- Private commercial bank
- Iraq Stock Exchange ticker
- BNOR
- Established
- 10 July 2003
- Licence
- No. 342/3/9 of 9 March 2004
- Regulatory measures
- Under Central Bank guardianship
- Securities Commission page
- Iraq Securities Commissionisc.gov.iq
Ownership
The Iraq Securities Commission page names one significant individual holder: نوزاد داودفتاح الجاف with 10%. The page was read on 25 September 2026.
Owners and managers
| Name | Role | Share | As of | Legal status | Source |
|---|---|---|---|---|---|
نوزاد داود الجاف | Chairman | Not stated | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
نوزاد داود فتاح الجاف | Chairman | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
ناجي عزت الجاف | Vice-chairman | Not stated | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
ناجي عزت صالح | Vice-chairman | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
علي محمد شبيب | Managing director | Not stated | 30 September 2026 | Not charged as of the date of writing | cbi.iq |
علي سيف صادق | Managing director | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
سعد فائق محمد | Board member | Not stated | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
داود سردار الجاف | Board member | Not stated | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
عمر حسين احمد | Board member | Not stated | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
منذر طالب كامل | Board member | Not stated | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
شوان قادر معروف | Board member | Not stated | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
نديم بطرس فرج الله | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
سرباز برهان عبدالحميد | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
سردار حسين حسن | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
اختيار فارس عزيز | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
مؤيد ناصر شمعون | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
لؤي اسماعيل سليم | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
Shareholder | 10% | Not stated | Not charged as of the date of writing | Iraq Stock ExchangeIraq Securities CommissionCentral Bank of Iraq[1][2] | |
نوزاد داود الجاف | Shareholder | 9.99% | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
طارق محمد ابراهيم الحسن | Shareholder | 9.977% | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
شوان نوزاد داود فتاح الجاف | Shareholder | 9.90% | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
شوان قادر معروف | Shareholder | 7.50% | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
سعد فائق محمد | Shareholder | 7.37% | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
مالك قاسم منغر الزميمي | Shareholder | 6.23% | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
عمر حسين أحمد | Shareholder | 5.83% | 30 October 2022 | Not charged as of the date of writing | mubasher.info |
عمر نوزد داود فتاح الجاف | Shareholder | 5.00% | 30 October 2022 | 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 | $36m | $4m | $32m | 13.3% | Not stated | $630,000 |
| 2013 | $1.4bn | $31.2m | $1.4bn | 3.0% | $980m | $66.8m |
| 2014 | $604.1m | $25.1m | $579m | 1.7% | $255.1m | $14m |
| 2015 | $1.6bn | $10.7m | $1.6bn | 5.1% | $38.8m | $60m |
| 2016 | $362m | $4.4m | $357.6m | 1.4% | Not stated | $19.3m |
| 2017 | $223.6m | $3.2m | $220.4m | 1.1% | Not stated | $9.7m |
| 2018 | $3.8m | $0 | $3.8m | 2.4% | Not stated | $121,982 |
| Total | $4.3bn | $78.6m | $4.2bn | $1.3bn | $170.5m |
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 145 occasions on which the committee refused all or part of a request by this bank. On those occasions the bank asked for $2 billion, and $1.3 billion of it was refused.
The largest refusals
| Date | Asked for | Refused | The reason, as read from the scanned minutes | Category |
|---|---|---|---|---|
| 6 June 2013 | $56.8m | $56.8m | لاغراض تدقيقية | Held for audit |
| 8 June 2013 | $41.5m | $41.5m | لاغراض تدقيقية | Held for audit |
| 9 June 2013 | $27.1m | $27.1m | لاغراض تدقيقية | Held for audit |
| date unreadable | $26m | $26m | 2074/0412 26,021,000 الصيرفة العرقمة 41318/2/9 | Other |
| 23 June 2013 | $24.3m | $24.3m | لاغراض تدقيقية | Held for audit |
| 18 June 2013 | $22.8m | $22.8m | لاغراض تدقيقية | Held for audit |
| 10 April 2014 | $22.7m | $22.7m | الحوالة بموجب مذكرة الصيرفة المرقمة 1318/2/9 في 2014/04/02 وهموجب كتاب المصرف المر 2654 في 2014/4/8 النقد بداء على طلب المصرة 2600 في 2014/4/7 | Penalty on, or suspension of, the bank |
| 19 June 2013 | $22.1m | $22.1m | الاغراض تدفيقية | Held for audit |
| 27 June 2013 | $21.4m | $21.4m | لاغراض تدقيقية | Held for audit |
| 20 June 2013 | $21m | $21m | لاغراض تدقيقية | Held for audit |
| 13 June 2013 | $21m | $21m | لاغراض تدقيقية | Held for audit |
| 24 June 2013 | $21m | $21m | لاغراض تدقيقية | Held for audit |
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
In the press
- 19 March 2023محاكمة 10 أشخاص بتهمة إهدار أكثر من نصف ترليون دينار بقضية مصرف الشمالshafaq.com
- 18 November 2021رد من مصرف الشمال العراقي على تحقيق "مدارس الهياكل الحديدية في العراق"Daraj | درج