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.
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.
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.
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)
6- At the
beginning of the year 2005, capital increased to become ID
7- At the
end of the same year 2005, capital increased to become ID
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.
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.
27/2/2013, the capital of the bank has been increased upto
ID150.000.000.000 ( Iraqi Dinars one hundred fifty Billion ).
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.
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.