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Dar Es Salaam Investment Bank - see information in Arabic

Basic Data

Establishment: The Dar Es Salaam Investment Bank was established as a private, joint stock company in April of 1999 and commenced comprehensive banking activities the same year.

Capital: The Bank’s capital was set at its founding at ID 200,000,000 and has gradually increased to its current level of ID 2,400,000,000.

Network: The Bank currently has 14 branches. Eight are located in Baghdad, 2 in Mosul, and one branch each in the towns of Diywaniyah, Samawa, Kerbala and Aziziya (Wassit).

Work Force: At present the Bank has 430 employees with an annual payroll of ID 384,000,000. The lack of automation in Iraq’s banking system is a major contributor to the high level of employment.


Deposits: Total deposits presently amount to ID 22,171,000,000. Notwithstanding the increase in Iraq’s money supply during the Bank’s history, the Bank’s management can be credited with attracting a sizable portion of Iraqi deposits.

Credit: Credit granted (loans, discounts of commercial bills, overdrafts) by the Bank amounts to ID 8,427,000,000. This credit is collateralized with bonds, deposit account balances, jewelry, real estate and foreign exchange. Most of the collateral is also enhanced by personal guarantees of well known, financially sound clients. Such guarantees were made necessary by the unstable conditions that the Iraqi economy has experienced since 1990.

Another field of credit in which the bank has engaged in the issuance of domestic letters of guarantee amounting to ID 2,093,000,000.

Investment: The Bank’s present investment bonds portfolio is valued at ID 7,711,000,000 including the holding of Treasury Bills (outside the legal deposit requirements) of ID 5,500,000,000. Moreover, the Bank acquired real estate for its corporate headquarters and a number of branches at market value of approximately ID 7,760,000,000. These substantial Bank assets add materially to the value of the Bank stock.

Other Banking Activities

The Bank has also accepted various types of deposits in foreign exchange amounting to US$ 2,159,000. Credit issued in foreign exchange is valued at US$ 681,000.

Economic and Financial Indicators

Capital Adequacy Ratio:  The Bank maintains a capital adequacy ratio (i.e. ratio of capital to risk based assets) of 42.5%. This is well over the Basel Accord and the Central Bank of Iraq ratio of not less than 15%. The high ratio maintained by the Bank reflects a cautious credit policy adopted by management during the volatile conditions the Iraqi economy experienced after the war.

Profitability: The Bank’s net distributable profit at the end of 2002 amounted to ID 306,800,000 or 25.6% of its total paid up capital. During the first eight months of 2003 profit of ID 192,000,000 was earned.


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