Middle East Iraqi Investment Bank was established in 1993; however, it started its banking operations in 1994 with a capital of 400 million dinars.
Today, the bank’s registered and paid-up capital has reached 250 billion dinars, an increase of about 625 times what it was at the time of establishment.
(1) Large project loans:
The bank aims through this service to contribute to the development of the country’s infrastructure and national economy. The sectors targeted by these loans are: (industrial sector, service sector, commercial sector, contracting sector).
The purpose of this funding:
Working capital financing.
Fixed asset financing.
Productive real estate financing.
The bank requires the applicant to provide material and personal guarantees to benefit from this service, and the financial ceiling for these projects is determined in accordance with the bank’s credit policy and the guiding regulations of the Central Bank of Iraq.
(2) Small and medium enterprise loans:
The bank provides loans to small and medium enterprises with easy guarantees in order to contribute to the development of the country’s national economy. The bank’s loans target these sectors: (agricultural sector, service sector, commercial sector, industrial sector).
It is noteworthy that the financing ceiling for these loans is 300 million Iraqi dinars, and to benefit from this service, the bank requires simple in-kind and personal guarantees.
