Zain Iraq Islamic Bank for Investment & Finance
This page sets out what the record shows about Zain Iraq Islamic 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 زين العراق الإسلامي للاستثمار والتمويل
Name, licence and status
- Name in English
- Zain Iraq Islamic Bank for Investment & Finance
- Name in Arabic
- مصرف زين العراق الإسلامي للاستثمار والتمويل
- Type
- Islamic bank
- Iraq Stock Exchange ticker
- BZII
- Established
- 16 February 2016
- Licence
- No. 11692/8/9 of 11 August 2016
- Regulatory measures
- Barred from dollar dealing by the Central Bank (July 2023); under Central Bank guardianship
- Website
- www.zainbank.com
- Securities Commission page
- Iraq Securities Commissionisc.gov.iq
Ownership
The Iraq Securities Commission page names one significant individual holder: هيثم نعيم هاشم اليالي with 10%. The page was read on 25 September 2026.
Owners and managers
| Name | Role | Share | As of | Legal status | Source |
|---|---|---|---|---|---|
هيثم نعيم هاشم | Chairman | Not stated | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
جاسم ياسين زوير | Chairman | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
جمال ياسين أدبيس | Vice-chairman | Not stated | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
جمال عبد الكاضم الحاج | Vice-chairman | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
جلال عبد الله سلمان | Managing director | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
مضر مجيد سعيد الصراف | Board member | Not stated | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
زياد خليل خضر | Board member | Not stated | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
نور نزار العاني | Board member | Not stated | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
ضرغام كريم العبيدي | Board member | Not stated | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
باسل متي نعمان | Board member | Not stated | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
مضر مجيد سعيد | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
ضرغام مزهر كريم | Board member | Not stated | 30 September 2026 | Not charged as of the date of writing | isc.gov.iq |
نور نزار مصطفى | 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] | |
هيثم نعيم هاشم | Shareholder | 9.96% | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
مهند نعيم هاشم | Shareholder | 9.9599% | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
زين العراق للاستثمارات العقارية | Shareholder | 9.90% | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
احمد هيثم نعيم | Shareholder | 8.0975% | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
محمد مصطفى فايق محمد | Shareholder | 7.963% | 21 July 2024 | Not charged as of the date of writing | mubasher.info |
شركة روعة القمر(company) | Shareholder | 5.55% | 21 July 2024 | 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 millions 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 |
|---|---|---|---|---|---|---|
| 2016 | $7.4m | $2.1m | $5.3m | 0.0% | Not stated | $591,530 |
| 2017 | $194.7m | $31.3m | $163.4m | 1.0% | Not stated | $6m |
| 2018 | $3.5m | $270,000 | $3.2m | 2.2% | Not stated | $110,288 |
| 2019 | $210.6m | $120,000 | $210.5m | 1.9% | Not stated | $1.2m |
| 2020 | $3.6m | $0 | $3.6m | 2.0% | Not stated | $117,073 |
| Total | $419.7m | $33.8m | $386m | Not stated | $8.1m |
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
The committee's surviving minutes, from January 2013 to February 2015, record no refusal for this bank.
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