Foundation:

At the beginning of 1998, Mr. Abdul Razzak Mansour presented an application to Baghdad chamber of commerce to reserve a corporate name for a private joint stock company in the name ''Babylon Bank'' Foundation and capital settlement procedures  had been completed at the beginning of 1999 then held the general committee which elected the board of directors and Mr. Abdul Razzak Mansour as a member of the board and General director of the bank and to effect the bank's management from its first day till he elected as a chairman of the board and Mr. Tarik Abdul Baki as a General director for the period 2006 - 2010, In this year 2010, The General committee renewed their trust completely in the same board of directors and Mr. Abdul Razzak Mansour as Chairman of the board and Mr. Tarik Abdul Baki as a Managing director till 2014.

At the end of year 2012, Mr. Abdul-Razzak Mansour has sold his shares and his family's shares too and whom were connected by him to new sharehedders is heading by Mr. Mohammed Qasim Ali AL-Nadosy, Who became with his Family and whom were connected with him Possessing more than 60% from the capital of the bank.

Bank's capital :

1- The bank was incorporated at the year 1999 with a capital (500) million ID.

2- The capital increased at the beginning of 2001 to be ID (1000) million most of it paid from the bank's income of the first year and the rest paid by the share holders.

3- At the end of 2002 the bank capital had been increased to ID (( 1250 )) million which paid completely from the bank's income of 2001.

4- At the year 2003 the capital increased to the amount of ID (( 1800 )) million which paid also from the bank's income of 2002 .

5- In the year 2004, capital was increased to the amount of ID (6300) million.

6- At the beginning of the year 2005, capital increased to become ID (10000) million.

7- At the end of the same year 2005, capital increased to become ID (30000) million.

8 - At the middle of the year 2009 the capital had been increased to become ID ( 50000 ) millions half of the increased amount paid from the bank income.

9- At 3/8/2011 and to implement the Central Bank of Iraq orders, Babylon Bank did increase the Capital to (100) Billion ID (One hundred billion Iraqi Dinars) and big part of this increasing was shared by the bank through its net income of the years 2009 and 2010.

10- On 27/2/2013, the capital of the bank has been increased upto ID150.000.000.000 ( Iraqi Dinars one hundred fifty Billion ).

11- It will be increasing the capital of the bank before the end of year 2013 up to ID 250.000.000.000 ( Iraqi Dinars two hundred fifty Billion ), After gathering general authority which expected during September of this year.

 

Main Aims of the bank :

the main aims of the bank as they came in the foundation contract are to participate in growing activities of Iraqi economic within the general politic frame of the state by dealing with investment bank's activities and different interior and international commercial banks jobs to his own behalf or the others according to nowadays laws and by cooperating with other banks and investment institutions which deal with economical progressive in the country according to the treasury and economical politics of state.