Corporate banking

1.       Deposit products :

The bank also provides other Banking services such opening of current accounts , Mutual investment by saving deposits and / or fixed deposits based on real cost and potential loss , transferring money in different currencies , in or out of Iraq , the opening of letters of credits , issuing letter of guarantees, local or foreign, and many other usual  banking services

2.       Financing products :

The pursuits and the activities of the Bank has opened, in the commercial and financial dealings, a wider range ever for the traders, investors, and contractors as well as for the owners those of the small scale  professions  enterprises , as the other banks, whether privates or state- owned, do not afford what our bank does, as our banking activities are based on The Islamic Shariah Rules which afford security to  the rights of both parties; The Bank and the customers equitably, by means of the following modes of banking operations:

1.       Murabaha
(profit-making contract): It is a contract between The Bank and his customer whereby The Bank provides funds to finance the purchase of a certain goods or services at the customer request where The Bank stands as owner of the goods when pays for their costs then re sales them to his customer for a price agreed upon when signing the contract, the repayment of the total cost may be in one or more installments. The Bank, to ensure the repayment of what has paid should normally demand a security to that effect.
 

2.       Musharaka
(Partnership) it is a contract between The Bank and his customer whereby The Bank provides funds to finance a certain transaction in his capacity as a partner owning the transaction. The    profits that arise out of the transaction will be divided according to the provisions of the contract.
 

3.       Mudharaba
(Speculation) it is a corporation in a project between The Bank and his customer whereby The Bank provides the capital whereas the customer provides his efforts the labor and expert. Each party will have a stake of the anticipated profit, agreed upon in advance, if the project fails the lost money will be on the part of The Bank whereas the customer will lose his labor and services rendered to the project.
 

4.       Ejarah
(Rental) it is a contract between The Bank and his customer whereby The Bank gives rent or lease of assets of its Owen to a customer who can exploit or operate them for his benefit throughout a period agreed upon, at the end of which the assets rented or leased will be given back to The Bank either to re rent or lease to a new customer in a similar transaction. The rental contract may be for operating assets or can be terminated with the assignment of the assets to the customer for a negotiable price.
 

5.       Istisna’a
(Industrializing )It is an agreement between The Bank and his customer whereby The Bank pays out the cost of the foundation and erection of a certain industrial project on behalf of his customer. Upon completion of the project, The Bank will sell it to the customer for a price agreed upon priorly.
 

6.        Other modes of financing: Apart from the modes given above there are other modes of investment such as investment in durable or productive goods such as Equipments, tools, instruments and vehicles, the investment in Real Estates for sale or rent, the Lending of contractors, construction of projects, taking part in foundation of companies which their activities cope with the Islamic Shariea and/or processing their shares from stock exchange market also are modes of providing funds beside the normal daily banking activities