In 1992, Bank of Baghdad began its journey as a joint-stock company with a capital of 100 million Iraqi dinars, laying the cornerstone for a promising financial future. Soon after, the bank opened its first branches in Baghdad, Al-Mansour, and Al-Hilla to be closer to its customers. In 2025, the bank became a trusted name in providing maximum flexibility, ease, and convenience to its customers during bank dealings.
Bank of Baghdad has expanded its portfolio to domains like retail banking, card services, retail loans, corporate banking, and credit facilities. In 2008, with the development of financial markets, the bank obtained membership in leading global payment companies Visa and Mastercard, strengthening its regional position. To keep pace with this progress, the bank activated its first ATM at the Al-Mansour branch, providing customers with more convenience and ease.
The following year, the Bank of Baghdad launched digital services, including internet banking and SMS notifications, while also establishing an extensive ATM network. By 2011, the bank had achieved numerous milestones, including establishing one of the largest branch and ATM networks, which enhanced its presence and facilitated customer access to its services.
Bank of Baghdad also added a new feather to its crown in 2024, as International Finance honoured the bank as the “Best Commercial Bank in Iraq” for the second consecutive year, a recognition that further highlights its commitment to delivering exceptional banking services.
The bank also expanded its operational footprint by signing a cooperation agreement with Visa International, enhancing its financial innovation. It also raised its capital to 400 billion Iraqi dinars, reflecting its commitment to delivering stronger and more sustainable banking solutions.
Bank of Baghdad already possesses long-standing expertise and a strong network of correspondent banks in major financial hubs, with its global network including leading international banks like Citibank, JPMorgan Chase, DBS Bank, UniCredit Bank, and DBS Bank (China). The comprehensive network has made international transactions simpler and faster, apart from providing competitive foreign exchange rates and currency services.
The driving force behind Bank of Baghdad’s remarkable rise is its Senior Banking Executive, Ahmed T. Muallah, a seasoned industry leader who brings over 25 years of experience across renowned global financial institutions, including Barclays, Citigroup, Deutsche Bank, Standard Chartered, and Renaissance Capital.
Ahmed Muallah built his career at the intersection of international investment banking and frontier market growth with a proven track record of driving revenues, building high-performing teams, and expanding market share across Europe, the Middle East, and Iraq.
Currently serving as Acting CEO at the Bank of Baghdad, Ahmed Muallah previously served as Chief Business Officer at the National Bank of Iraq, where he spearheaded consumer, commercial, and SME banking operations, championed financial inclusion initiatives, and strengthened operational efficiency across all business lines.
Earlier in his career, Ahmed Muallah established the operations of Renaissance Capital in the Middle East, managed Deutsche Bank’s regional growth, and led Standard Chartered’s wholesale banking presence in Iraq, delivering revenues far beyond forecasts.
With deep expertise in investment banking, asset management, and commercial banking, Ahmed Muallah has successfully overseen multi-billion-dollar transactions, managed professionals in over a dozen countries, and advised on landmark projects spanning infrastructure, healthcare, and education.
Not resting upon its laurels, Bank of Baghdad has already drawn up its roadmap for 2026. Key plans include driving business growth by increasing the customer base, adding 15 new branches, and advancing digitalisation by improving mobile banking, the mobile app, and the website.
The bank, which already provides account and card services along with gold loans in its retail segment, will introduce more products within the category. Equal attention will be paid to strengthening overall operations to ensure consistency and quality.
Bank of Baghdad recently signed a strategic agreement with the International Finance Corporation (IFC) to join the Global Trade Finance Programme, opening wider horizons for its clients to access international markets. It is now well set to pull off more strategic partnerships that support the bank’s sustainable growth, reaffirming its commitment to responsibility, innovation, and customer service.