Iraqi Banking: “Iraqi Market Can Accommodate Another 100 Banks”

Nozad Dawood Fattah Al-Jaff, Chairman North Bank, says that Iraq is severely under-banked, and the sector could absorb another 100 banks.

Since Iraq is a growth market, there is limited competition between the existing players and new entrants.

Al-Jaff’s own experience confirms this: “North Bank is the largest bank in terms of giving loans and we surpass the second closest bank in this area by at least three times. We welcome any other banks to do business in this area. Every bank has its own specialty and a new variety of expertise would definitely help this important sector to grow, be it in Iraq or particularly in Kurdistan.”
Read more about banking in Iraq and banks in Iraq.