Question 1

What is Ashur Bank?

Accepted Answer

Ashur Bank, officially known as Ashur International Bank for Investment PJSC, is a leading private commercial bank in Iraq. Founded in 2005, the bank provides comprehensive banking services to individuals, corporate clients, and businesses across Iraq.

As a publicly traded company on the Iraq Stock Exchange (ISX: BASH) since November 2007, Ashur Bank operates as a full-service financial institution with a strong focus on digital innovation and financial inclusion. The bank serves multiple segments including retail banking, private banking, business banking, corporate banking, investment banking, and real estate banking.

Question 2

When was Ashur Bank founded?

Accepted Answer

Ashur Bank was established on April 25, 2005, as Ashur International Bank for Investment. The bank was founded to address the growing demand for modern banking products and investment services in Iraq's evolving post-2003 financial sector.

Since its inception, the bank has positioned itself as a pioneer in banking services, setting new standards in a region with increasing demand for sophisticated financial products. The bank went public and listed on the Iraq Stock Exchange in November 2007, becoming one of the key players in Iraq's banking industry.

Question 3

Where is Ashur Bank headquartered?

Accepted Answer

Ashur Bank is headquartered in Baghdad, Iraq, specifically in the Karadah district near Uqba Bin Nafa Square (Area 903, Street 99, Building 87). The bank's head office location reflects its presence in the capital's commercial and financial hub.

Question 4

Where does Ashur Bank operate?

Accepted Answer

Ashur Bank operates throughout Iraq with a strong presence in major cities. The bank has established its network across key urban centers including Baghdad, Erbil, Basra, and Sulaymaniyah.

The bank maintains approximately 10 branches and over 70 ATMs across the country, providing accessibility to customers in Iraq's most populous and economically significant regions. This geographic distribution allows the bank to serve both the central government areas and the Kurdistan Region.

Question 5

What services does Ashur Bank offer?

Accepted Answer

Ashur Bank provides a comprehensive range of banking products and services tailored to both individual and corporate customers:

Retail Banking Services:
• Current, savings, and term deposit accounts
• Personal loans and car financing
• Loans for small and medium projects
• Company loans and loans for government employees
• Debit, credit, and prepaid cards
• Money transfer services
• Currency exchange and investment services

Corporate Banking Services:
• Overdraft facilities
• Small and medium enterprise (SME) loans
• Corporate loans and commercial services
• Support for enterprises in commerce, industry, contracting, and education sectors
• Corporate lending and project finance solutions
• International trade finance services

Digital Banking Services:
• Online banking platform
• Advanced electronic payment systems
• Temenos Infinity digital banking platform (implemented in partnership with Xpert Digital in 2023)
• Digital account onboarding and transfers
• Mobile and internet banking capabilities

Question 6

What makes Ashur Bank unique?

Accepted Answer

Ashur Bank distinguishes itself through several key characteristics:

Digital Transformation Leadership: The bank is at the forefront of digital banking innovation in Iraq, having partnered with Xpert Digital to implement the Temenos Infinity platform in 2023. This positions Ashur Bank as a leader in offering digital banking services in a market where over 35 million people remain without formal bank accounts.

Public Market Presence: As a publicly traded company on the Iraq Stock Exchange (ISX: BASH) since 2007, Ashur Bank maintains transparency and corporate governance standards. The bank is included in the ISX Index 60 and ISX Price Index 60.

Strategic Focus on Development: The bank emphasizes corporate and private banking with particular attention to corporate lending and project finance, aiming to contribute to Iraq's infrastructure and economic development through strategic financial solutions.

Comprehensive Service Portfolio: Operating across six main banking segments, the bank provides an integrated package of retail and business banking services, positioning itself as a universal banking solution for the Iraqi market.

Question 7

What type of financial institution is Ashur Bank?

Accepted Answer

Ashur Bank is a universal commercial bank operating as a public joint stock company (PJSC). In the Iraqi banking context, it functions as a full-service private sector bank providing retail, corporate, and investment banking services.

The bank holds a commercial banking license from the Central Bank of Iraq and operates within the regulatory framework of Iraq's banking sector. As a universal bank, Ashur Bank combines traditional commercial banking activities with investment banking services, distinguishing it from specialized financial institutions.

With approximately 225-250 employees and a capital base of 250 billion Iraqi dinars, the bank represents a significant player in Iraq's private banking sector, competing with other major Iraqi commercial banks while maintaining its status as a publicly traded financial institution.

Ashur Bank

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About Ashur Bank in Iraq