# Bank of Baghdad

> Source: https://docs.barcoder.ai/docs/wallets/bank-of-baghdad
> research date 2026-05-30 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Bank of Baghdad — official](https://www.bobiq.com/)

## Overview

**Bank of Baghdad** is **Iraqi commercial bank** + **ISX: BBOB** + **Burgan Bank Kuwaiti parent ~52% controlling via KIPCO Tower Group** + **one of largest Iraqi private commercial banks** <sup>[1][1], [Iraq report](https://docs.barcoder.ai/docs/payments/IQ)</sup>.

**1992 — Bank of Baghdad founded** with an initial paid-in capital of **100 million Iraqi dinars** <sup>[3][3]</sup>.

**2005 — Bank of Baghdad ISX listing under ticker BBOB**.

**2005 — Burgan Bank Kuwaiti parent acquires Bank of Baghdad majority controlling stake**, integrating Bank of Baghdad into the KIPCO regional banking footprint <sup>[2][2]</sup>.

**2009 — Digital-services debut**: internet banking and SMS notifications go live, a notable early-mover step inside the Iraqi commercial-bank universe <sup>[3][3]</sup>.

**2011 — One of the largest branch and ATM networks** in Iraq established, per the bank's published profile <sup>[3][3]</sup>.

**2018 — Bank of Baghdad Mobile Banking app launch** — iOS `id1452919011`, Android `iq.bankofbaghdad.mobile`, both still active on the public app stores.

**2023 + 2024 — "Best Commercial Bank in Iraq"** awarded by *International Finance* for two consecutive years, plus "Best Bank Iraq 2023" from CFI.co and the **International Union of Arab Bankers'** 2024 commercial-banking award <sup>[3][3], [4][4]</sup>.

**Capital growth to date**: from **IQD 100 M (1992)** to **IQD 400 billion** today — a **4,000×** nominal growth that tracks the broader trajectory of Iraq's post-2003 banking-sector reconstruction <sup>[3][3]</sup>.

## Ownership & operator

**Operating entity**: **Bank of Baghdad PSC** (ISX: BBOB; Iraqi commercial bank).

**Major shareholders**: **Burgan Bank K.S.C.P. (KSE: BURG; Kuwaiti commercial bank; KIPCO Tower Group majority controlling) ~52% controlling + Iraqi retail + institutional + foreign investors**.

**Regulators**: **CBI (Central Bank of Iraq)**.

## Technical integration

Bank of Baghdad Mobile Banking app (iOS + Android) + bobiq.com online + Bank of Baghdad branch network across Iraq + Bank of Baghdad Visa + Mastercard + Qi Card; Qi Card (Iraqi national payment network) + Iraq IBAN.

## Implementations & partners

**Burgan Bank Kuwaiti parent**: [Burgan Bank](https://docs.barcoder.ai/docs/wallets/burgan-bank) (Burgan Bank K.S.C.P.; KSE: BURG; Kuwaiti commercial bank; KIPCO Tower Group majority controlling + Bank of Baghdad Iraq parent + Tunis International Bank + Algeria Gulf Bank + Burgan Bank Turkey).

**Major Iraqi banking + payments competitors**: [Trade Bank of Iraq (TBI)](https://docs.barcoder.ai/docs/wallets/iraq-trade-bank) (Trade Bank of Iraq TBI; Iraqi state-owned commercial bank since 2003) + Rasheed Bank (Rasheed Bank Iraqi state-owned commercial bank) + [Rafidain Bank](https://docs.barcoder.ai/docs/wallets/rafidain-bank) (Rafidain Bank Iraqi state-owned commercial bank) + National Bank of Iraq (National Bank of Iraq Iraqi commercial bank; Capital Bank of Jordan parent post-Sep 2021 acquisition) + [Qi Card Iraq](https://docs.barcoder.ai/docs/wallets/qi-card-iraq) (Qi Card Iraqi national payment network + Smart Card) + [Zain Cash Iraq](https://docs.barcoder.ai/docs/wallets/zaintel-iraq) (ZainCash Iraqi mobile money by Zain Iraq).

**Global correspondent network** <sup>[3][3]</sup>: **Citibank**, **JPMorgan Chase**, **DBS Bank**, **UniCredit Bank** — large international correspondent relationships that are unusual for an Iraqi commercial bank and follow directly from Burgan/KIPCO group integration.

**KIPCO regional banking sisters**: Burgan Bank Kuwait (KSE: BURG, parent), Algeria Gulf Bank, Tunis International Bank, Burgan Bank Türkiye, plus presence relationships in **Kuwait, Bahrain, Jordan, Syria, Algeria, Tunisia** <sup>[2][2]</sup>.

**Regulator**: CBI.

## Fun facts

**Capital scaled 4,000× in 30 years.** Founding capital was **IQD 100 million in 1992**; today it stands at **IQD 400 billion**, a nominal 4,000× expansion that traces the post-2003 reconstruction of Iraq's banking sector <sup>[3][3]</sup>.

**A Citibank + JPMorgan + DBS + UniCredit correspondent network on an Iraqi balance sheet.** Bank of Baghdad's correspondent relationships read like a tier-1 global-bank list — a footprint normally associated with much larger institutions, made possible by the bank's integration into the Kuwaiti KIPCO/Burgan group rather than its standalone Iraqi standing <sup>[3][3]</sup>.

**Two-time "Best Commercial Bank in Iraq".** *International Finance* honoured Bank of Baghdad as Iraq's Best Commercial Bank in **2023 and 2024 — consecutive years** — alongside CFI.co's 2023 "Best Bank Iraq" award and the International Union of Arab Bankers' 2024 award <sup>[3][3], [4][4]</sup>.

**Plans for +15 branches and 200+ ATMs.** The bank's published 2026 expansion roadmap targets **15 new branches** and a network grown to **over 200 ATMs**, with deployment focused on high-traffic shopping centres and government offices <sup>[3][3]</sup>.

## Status

**Active.** Iraqi commercial bank, ISX-listed under ticker **BBOB**, with **Burgan Bank K.S.C.P. (KIPCO group) holding ~52% controlling stake**; **36–38 branches** in Iraq with **15 additional branches planned** and **200+ ATM** expansion under way <sup>[3][3]</sup>. Recognised by *International Finance* as Best Commercial Bank in Iraq in **2023 and 2024**, the International Union of Arab Bankers' 2024 award, and CFI.co's 2023 award <sup>[3][3], [4][4]</sup>. Digital surface: iOS + Android mobile banking app, internet-banking portal at `ibs.bankofbaghdad.com`, and the bank's own corporate site <sup>[1][1], [5][5]</sup>.

## Sources

[1]: https://www.bobiq.com/ "Bank of Baghdad — official"
[2]: https://en.wikipedia.org/wiki/Bank_of_Baghdad "Bank of Baghdad — Wikipedia"
[3]: https://internationalfinance.com/banking/bank-of-baghdad-a-trusted-leader-in-iraqs-finance-sector/ "Bank of Baghdad: A trusted leader in Iraq's finance sector — International Finance"
[4]: https://cfi.co/awards/middle-east/2023/bank-of-baghdad-best-bank-iraq-2023/ "Bank of Baghdad: Best Bank Iraq 2023 — CFI.co"
[5]: https://ibs.bankofbaghdad.com/IBS "Bank of Baghdad Internet Banking (IBS) portal"
[iq-cro]: https://docs.barcoder.ai/docs/payments/IQ

- [1] [Bank of Baghdad — official][1]
- [2] [Bank of Baghdad — Wikipedia][2]
- [3] [Bank of Baghdad: A trusted leader in Iraq's finance sector — International Finance][3]
- [4] [Bank of Baghdad: Best Bank Iraq 2023 — CFI.co][4]
- [5] [Internet Banking portal — Bank of Baghdad][5]
- <sup>[Iraq report](https://docs.barcoder.ai/docs/payments/IQ)</sup> In-corpus: `reports/countries/IQ-iraq.md`

## Source

Biography extracted from [bank-of-baghdad.md](https://docs.barcoder.ai/source/wallets/bank-of-baghdad). See `matrix.md` for standards-support matrix if present.