International Development Bank (IDB) Company Profile

Background

Established in 2011, the International Development Bank (IDB) is Iraq's largest privately owned financial institution, offering comprehensive banking services to both corporate and retail clients. With an initial capital of 100 billion Iraqi Dinars, IDB has grown to a paid-up capital of 250 billion IQD (approximately 210 million USD). The bank's mission is to foster economic growth and societal progress by providing innovative financial solutions that cater to the diverse needs of its clientele. Its vision is to maintain a leading position in delivering advanced banking services in Iraq and globally.

Key Strategic Focus

IDB's strategic focus encompasses several core objectives:

• Comprehensive Financial Services: Offering a wide range of services, including retail banking, commercial banking, SME and corporate banking, trade finance, international banking, and electronic payment solutions.

• Technological Integration: Emphasizing the adoption of modern banking technologies to enhance service efficiency and customer experience.

• Market Expansion: Extending its presence beyond Iraq, with branches in the United Arab Emirates and Lebanon, to serve a broader clientele.

• Financial Inclusion: Implementing initiatives to provide greater financial access to underserved populations, thereby contributing to economic development.

Financials and Funding

IDB commenced operations with an initial capital of 100 billion Iraqi Dinars. As of the latest available data, the bank's paid-up capital stands at 250 billion IQD (approximately 210 million USD). The bank has financed mega projects across various sectors, with total lending exceeding IQD 450 billion (over 375 million USD) in the form of direct and indirect credit facilities. Additionally, IDB has contributed to SME financing initiatives, with projects totaling over 10 billion Iraqi Dinars (approximately 8 million USD) across various provinces in Iraq during 2017.

Pipeline Development

IDB has been actively involved in financing large-scale projects across multiple sectors, including infrastructure, industry, and social services. The bank's lending portfolio has exceeded IQD 450 billion, reflecting its commitment to supporting significant development initiatives within Iraq. Specific details regarding the stages of clinical trials or product development are not applicable, as IDB operates within the financial sector.

Technological Platform and Innovation

IDB has achieved several technological milestones:

• Electronic Banking Services: In 2016-2018, IDB obtained "Issuing and Acquiring" licenses from Mastercard and Visa, becoming the first Iraqi bank authorized to issue all types of electronic bank cards—debit, credit, and prepaid.

• Digital Banking Solutions: The bank has implemented digital banking platforms to enhance customer accessibility and streamline financial transactions.

Leadership Team

Under the leadership of Chairman Mr. Ziad Khalaf Abed Kareem, IDB has institutionalized firm foundations and principles for operations, enabling the bank to acquire a significant market share in trade finance, electronic card issuing, and the local banking market.

Competitor Profile

Market Insights and Dynamics

The banking sector in Iraq is characterized by a growing demand for modern financial services, including digital banking and financial inclusion initiatives. The market is expanding, with increasing competition from both local and international banks.

Competitor Analysis

IDB's primary competitors include:

• Trade Bank of Iraq (TBI): A state-owned bank focusing on trade finance and international banking services.

• Kurdistan International Bank (KIB): A private bank operating in the Kurdistan region, offering a range of banking services.

• Cihan Bank: A private bank providing commercial and retail banking services in Iraq.

These competitors offer similar services, including trade finance, retail banking, and electronic payment solutions, contributing to a competitive banking environment in Iraq.

Strategic Collaborations and Partnerships

IDB has established partnerships with international financial institutions to enhance its service offerings and expand its market reach. The bank's collaboration with Mastercard and Visa for electronic card issuing is a notable example of such strategic alliances.

Operational Insights

IDB's strategic considerations include:

• Technological Advancements: Continuously upgrading digital banking platforms to meet evolving customer expectations.

• Market Expansion: Strengthening its presence in the UAE and Lebanon to tap into regional markets.

• Financial Inclusion: Implementing initiatives to provide greater financial access to underserved populations.

Strategic Opportunities and Future Directions

IDB is well-positioned to leverage its technological advancements and strategic partnerships to:

• Expand Digital Services: Enhance online and mobile banking platforms to attract a broader customer base.

• Strengthen Regional Presence: Increase market share in the UAE and Lebanon through targeted marketing and service diversification.

• Promote Financial Inclusion: Develop products tailored to the needs of underserved communities, contributing to economic development.

Contact Information

• Website: www.idb.iq

• LinkedIn: International Development Bank for Investment and Finance

• Headquarters: Baghdad, Iraq