Bank of Baghdad achieves a historic achievement as the first bank in Iraq.
Bank of Baghdad achieves a historic achievement as the first bank in Iraq.
2025/07/28
In a move that confirms its leadership position and advanced financial capabilities, the Bank of Baghdad announced an unprecedented achievement in the Iraqi banking sector, concluding a strategic agreement with the Ministry of Finance to become the first private bank ever to be granted the authority to issue sovereign guarantees.
This achievement is the culmination of the bank’s ambitious vision and relentless pursuit of innovation, reflecting the deep trust that the country’s economic decision-makers place in the Bank of Baghdad as a strategic partner with the expertise and competence to manage financial instruments of this magnitude.
In this context, Majid Al-Saadi, Chairman of the Board of Directors of the Bank of Baghdad, affirmed: “This accreditation is a direct reflection of the strength of our financial position and our commitment to the highest standards of governance. We have worked for years to achieve this status, and today we translate our leadership into tangible actions that support the national economy.”
For his part, Ahmed Tahseen Maala, the bank’s acting managing director, added: “Our ability to secure this sovereign mandate places us at the forefront of financial institutions in Iraq. We will use this powerful tool to provide innovative financing solutions and open new horizons for our partners in major projects that have been waiting for such an opportunity.”
This mandate reinforces the Bank of Baghdad’s position as a key driver of growth and an indispensable partner for investors and contractors seeking to contribute to building Iraq’s future.
alforatnews.iq
