Sumer Commercial Bank
This page sets out what the record shows about Sumer 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 سومر التجاري
Name, licence and status
- Name in English
- Sumer Commercial Bank
- Name in Arabic
- مصرف سومر التجاري
- Type
- Private commercial bank
- Iraq Stock Exchange ticker
- BSUC
- Established
- 7 August 1999
- Licence
- No. ص.أ/13/1124/3/9 of 4 November 1999
- Regulatory measures
- Barred from dollar dealing by the Central Bank (July 2023)
- Website
- www.sumerbankiq.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] | |
محمد صبري جاسم | Vice-chairman | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
فؤاد حمزة السعيد | Managing director | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
محمد اسماعيل خيرالله | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
علي طالب عقيل | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
علي حسين عبيس | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
علي خليل خير الله الجميلي | Shareholder | 9.9996% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
رقية مؤيد خيرالله | Shareholder | 9.99% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
سحر خليل خير الله | Shareholder | 9.944% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
نور علي خيرالله | Shareholder | 9.94% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
ميسون عبد الرازق محمد | Shareholder | 9.94% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
سارة علي خيرالله | Shareholder | 9.94% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
مريم علي خيرالله | Shareholder | 9.94% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
مصطفى مؤيد خيرالله | Shareholder | 9.82% | 16 June 2025 | Not charged as of the date of writing | mubasher.info |
اسل ابراهيم احمد | Shareholder | 6.30% | 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 |
|---|---|---|---|---|---|---|
| 2013 | $2.5bn | $49m | $2.4bn | 5.3% | $793.2m | $101.1m |
| 2014 | $2.4bn | $183.4m | $2.2bn | 6.9% | $385.8m | $50.5m |
| 2015 | $1.5bn | $182.4m | $1.3bn | 4.7% | $55.9m | $63.2m |
| 2016 | $1.1bn | $192.3m | $858m | 4.0% | Not stated | $70.1m |
| 2017 | $771m | $212.8m | $558.2m | 3.9% | Not stated | $34.8m |
| 2018 | $6.5m | $0 | $6.5m | 4.2% | Not stated | $207,820 |
| 2019 | $617.1m | $1.3m | $615.8m | 5.4% | Not stated | $3.4m |
| 2020 | $7m | $0 | $7m | 3.9% | Not stated | $227,642 |
| Total | $8.8bn | $821.1m | $8bn | $1.2bn | $323.5m |
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 190 occasions on which the committee refused all or part of a request by this bank. On those occasions the bank asked for $2.7 billion, and $1.2 billion of it was refused.
The largest refusals
| Date | Asked for | Refused | The reason, as the committee wrote it | Category |
|---|---|---|---|---|
| 8 June 2014 | $18.2m | $18.2m | ستبعاد لتقديمه المعاملة قبل 6 ايام عمل ومخالفا بذلك لتعليمات البنك المركزي | Other |
| 16 June 2014 | $18.2m | $18.2m | به المرقم 1863 في 14/6/10 | Other |
| date unreadable | $17.7m | $17.7m | المرقمة 1173 في 2014/03/27 | Other |
| 21 May 2013 | $17.6m | $17.6m | الوديعة (شركة السلسبيل) لتكرار الاسماء تسلسل ,!4,7,8,10,11,12,14,15) | Same customer or name repeated |
| 23 October 2013 | $17.3m | $17.3m | عدم زيادة رأس المال حسب مذكرة المديرية العامة لمراقبة الصيرفة والانتمان المرقمة 3333/3/9 في 2013/10/22 | Bank capital requirement; Penalty on, or suspension of, the bank |
| 22 September 2013 | $17.1m | $17.1m | 5. شركة الفاو,ورود تاريخ الكشف في 2013/9/11) عم توقيع المعاملة من قبل المدير المفوض (punctuation adjusted) | Other |
| date unreadable | $16.7m | $16.7m | السرقسة 1173/3/9/ في 2014/03/27 | Other |
| date unreadable | $17.7m | $16.7m | ة لاغراض تعفيفية | Held for audit |
| 23 September 2013 | $16.7m | $16.7m | لعدم توقيع المدير المفوض على طلب الشراء والكتاب المقدم من قبل المصرف لا يفي بالغرض | Missing or defective documents; Penalty on, or suspension of, the bank |
| 3 March 2014 | $16.4m | $16.4m | !ت 1)و,ت3) يستبعد ,يوجل في الوقت | Other |
| date unreadable | $16.2m | $16.2m | استبعاد لعدم وجود كتاب التحويل | Missing or defective documents; Penalty on, or suspension of, the bank |
| 22 October 2013 | $16m | $16m | عدم زيادة رأس المال حسب مذكرة المديرية العامة لمراقبة الصيرفة والانتمان المرقمة 3333/3/9 في 2013/10/22 | Bank capital requirement; Penalty on, or suspension of, the bank |
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
- 19 July 2023US Treasury and Federal Reserve Bank of New York (as reported)Barred from dollar transactions (not announced; reported)
Against: 14 Iraqi banks (named in the Central Bank's list of 20 July 2023)
"The ban, which was imposed by the Treasury Department and the Federal Reserve Bank of New York, is part of a crackdown on the siphoning of U.S. currency to Iran" (Reuters summarising The Wall Street Journal).
Current position: See the Central Bank's list
Original - 20 July 2023Central Bank of IraqBarred from the currency window and from dealing in dollars
Against: Al-Mustashar Islamic; Al-Qurtas Islamic; Al-Taif Islamic; Elaf Islamic; Erbil Bank; International Islamic; Iraq Trans (Trans Iraq) Bank; Mosul Bank; Al-Rajih Islamic; Sumer Commercial; Trust International Islamic; Al-Mal Islamic Investment Bank; World Islamic; Zain Iraq Islamic
The Central Bank's list gives the effective date as 20 July 2023.
Current position: Listed as of 4 February 2024; Mosul Bank named in July 2026 as one of seven banks cleared to return to non-dollar correspondent channels
Original
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